The global commercial greenhouse market reached a value of US$ 23.7 Billion in 2018. Greenhouse is an outdoor structure which is built with roof and walls made up of transparent materials like glass or plastic. It is equipped with high technology to control the temperature and stabilize the environment for the cultivation of plants such as fruits, flowers and vegetables, etc.
The major factor driving the growth of the commercial greenhouse is its ability to provide high yield production as compared to the traditional farming techniques. Moreover, rising demand of food, declining arable land due to increasing population and sudden environmental changes have also fueled the commercial greenhouse market. Greenhouse technology enables the crop producers to produce those products which have the shortage of supply, thereby creating opportunity for them to produce marketable products. Additionally, increasing government initiatives, such as one in August 2017, Taraba state government (Nigeria), launched greenhouse farming and harvesting of exotic vegetables for sale within and outside Nigeria, which further boosted the greenhouse market in the region. Similarly, Canadian government is also providing some financial assistance to the greenhouse growers with its “Growing Forward 2” initiative (a federal-provincial-territorial initiative) which focuses at six different areas to support agri-businesses like - environment and climate change; food safety assurance; plant health; labor productivity, etc. Some of the other factors that are expected to drive the global commercial greenhouse market include- rising trend of rooftop farming, rapid urbanization, adoption of greenhouse automation technologies, utility savings, increasing R&D activities and mergers & acquisitions in the industry, etc. Catalyzed by these factors, IMARC Group expects the market to reach a value of US$ 37.8 Billion by 2024, exhibiting a CAGR of around 8% during 2019-2024.
Market Breakup by Type
Market Breakup by Material Used
Market Breakup by Technology
Market Breakup by Crop
Market Breakup by Region
The report has also analysed the competitive landscape of the market with some of the key players being Richel Group SA, Certhon, Argus Control System Ltd, Logiqs, Lumigrow, Keder Greenhouse, Agra Tech Inc, Hort Americas, Heliospectra AB, etc.
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