Global Commercial Greenhouse Market to Reach US$ 53.7 Billion by 2027, Catalyzed by Higher Yield Rate

April 02, 2020

According to the latest report by IMARC Group, titled "Commercial Greenhouse Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global commercial greenhouse market size reached US$ 28.9 Billion in 2021. Commercial greenhouses are high-tech structures that are used to grow plants, particularly fruits, flowers and vegetables, in large volumes for consumers in a highly controlled environment. These structures can efficiently control various environmental factors, including humidity, temperature, ventilation, irrigation, light exposure and fertilization, to foster the cultivation of plants. They make use of transparent glass and plastic materials for the construction of the roof and walls to enable sunlight to pass through for the process of photosynthesis. Commercial greenhouses are also able to transmit visible and near-visible ultraviolet (UV) and infrared radiation (IR), which are essential for plant growth. They are extensively employed for greenhouse water systems and efficient heating systems to improve energy conservation. 

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Commercial Greenhouse Market Trends:

The global market is primarily driven by the higher crop yield rate associated with the utilization of commercial greenhouses. Unlike traditional farming techniques, these greenhouses ensure the efficient growth of plants despite climatic and topographical challenges. Consequently, there has been a significant increase in the adoption of these structures. Apart from this, the growing global population has led to an ever-increasing demand for food. The shortage of cultivable land has further contributed to this deficit. Consequently, market players are establishing greenhouses in an effort to curb the shortage. Consumers have also impelled the demand for locally-sourced fresh fruits and vegetables throughout the year, which has provided a thrust to the market growth. This is further facilitated by shifting lifestyle patterns, inflating disposable income levels and growing preference for fresh and organic food products. Furthermore, governments of numerous countries are also promoting the utilization of commercial greenhouse, which is creating a positive outlook for the market. For instance, the Government of Canada is funding and granting loans for greenhouse growers to support the expansion of the market. These grants are further utilized in conducting research and development (R&D) activities and to train employees regarding the usage of innovative growing systems. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 53.7 Billion by 2027, grow at a CAGR of 10.77% during the forecast period (2022-2027).

Market Summary:

  • On the basis of the type, the market has been bifurcated into free-standing and gutter-connected greenhouses.
  • Based on the material used, the market has been divided into glass green house (horticulture glass and others greenhouse glass) and plastic green house (polyethylene, polycarbonate and polymethyl methacrylate [PMMA]).
  • On the basis of technology, the market has been classified into heating system, cooling system and others.
  • Based on the crop, the market has been categorized into fruits and vegetables, flowers and ornamentals, nursery crops, and others.
  • On the basis of the region, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
  • The competitive landscape of the market has been analyzed in the report with the detailed profiles of the key players operating in the market. Some of these players include RICHEL Group, Certhon Build B.V., Argus Control Systems Limited., LOGIQS B.V., LumiGrow, Inc., Keder Greenhouse, Agra Tech, Inc., Hort Americas and Heliospectra AB.

 

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Global Commercial Greenhouse Market to Reach US$ 53.7 Billion by 2027, Catalyzed by Higher Yield Rate
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