Commercial Greenhouse Market Is Likely To Experience A Tremendous Growth In Near Future
The Commercial Greenhouse Market is on a significant growth trajectory. It is projected to achieve a valuation of USD 68.7 billion by 2028, surging from an estimated USD 39.6 billion in 2023. This growth is driven by a multitude of factors that reflect the evolving needs and priorities of individuals, businesses, and industries.
In the realm of greenhouse types, plastic greenhouses are poised for the highest growth rate during the forecast period. Offering an affordable alternative to traditional glass structures, plastic greenhouses come with lower construction and material costs, making them accessible to a broader spectrum of producers, including small and medium-sized businesses. This affordability factor fosters wider market adoption and expansion.
Moreover, plastic greenhouses exhibit excellent insulating properties, effectively retaining heat compared to their glass counterparts. This enhanced thermal efficiency translates into energy savings, reducing heating and cooling costs while maintaining optimal growing conditions. Consequently, these advantages contribute to the rapid growth of the plastic greenhouse category, propelling the overall market.
In the equipment segment, hardware is set to maintain its position as the leader in terms of market value during the forecast period. Hardware components play a fundamental role in establishing and sustaining greenhouse structures, designed to withstand environmental challenges such as wind, snow, rain, and freezing temperatures. High-quality hardware ensures the durability and reliability of greenhouse structures, reducing the need for frequent repairs or replacements and ultimately saving greenhouse operators money. The expansion of commercial greenhouse farming into regions with diverse climates and agricultural practices drives the demand for adaptable and dependable hardware solutions.
Among crop types, vegetables are expected to dominate the market share during the forecast period. Greenhouse environments offer precise control over critical factors like temperature, humidity, light, and nutrient levels, leading to increased crop yields and superior-quality produce. As consumers increasingly seek nutritious and visually appealing vegetables, greenhouse farming techniques provide a reliable means to consistently meet these demands. With vegetables being a staple in various cuisines worldwide, the demand for them remains constant, further driving the commercial greenhouse market's growth in the coming years.
Europe is poised to hold the largest market share during the forecast period. Many European countries face constraints on available arable land due to urbanization and land-use pressures. Commercial greenhouses emerge as a viable solution to maximize food production in such limited spaces, addressing the challenge of food security. Europe's commitment to agricultural research and innovation, driven by institutions, universities, and research organizations, has led to advanced greenhouse technologies, cultivation practices, and crop varieties that enhance productivity and sustainability. Furthermore, Europe's well-developed commercial greenhouse sector allows for surplus production that can be exported to other regions, solidifying its dominance in the market.
The key players in this market include Berry Global Group, Inc (US), Signify Holding (Netherlands), Heliospectra AB (Sweden), PLASTIKA KRITIS S.A. (Greece), EVERLIGHT ELECTRONICS CO., LTD (Taiwan), Prospiant (US), RICHEL GROUP (France), Argus Control Systems Limited (Canada), Certhon (Netherlands), LOGIQS.B.V. (Netherlands), Lumigrow, Inc (Canada), Agra Tech, Inc (US), Hort Americas (US), Top Greenhouses (Israel), Stuppy Greenhouse (US).
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