Commercial Greenhouse Market Set to Reach USD 75 Billion by 2030, Growing at a CAGR of 9%
According to Next Move Strategy Consulting, the global Commercial Greenhouse Market is poised for substantial growth, with an anticipated market size of USD 75 billion by 2030. This growth represents a compound annual growth rate (CAGR) of 9% by 2030, driven by increasing demand for nutritious food, advancements in agricultural technologies, and the shift toward controlled-environment agriculture.
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Commercial greenhouses, which are glass or plastic-enclosed structures that provide controlled environments for the cultivation of crops such as vegetables, fruits, flowers, and transplants, have gained prominence due to their ability to offer optimum growing conditions. These greenhouses enable faster crop production with better yields in limited spaces, addressing the shrinking availability of arable land and the increasing global food demand. Glass-based greenhouses, though traditional, continue to be used, while plastic-based greenhouses, made from polyethylene, polycarbonate, or polymethyl methacrylate, are rapidly gaining popularity due to their superior durability and resistance to extreme weather.
Market Drivers and Trends
Several key factors are driving the growth of the commercial greenhouse market. The increasing scarcity of arable land and the rise in global population are pushing the demand for innovative farming techniques that can increase crop yields in smaller spaces. According to the Food and Agriculture Organization (FAO), food production needs to increase by 70% by 2050 to meet global demands, making greenhouse farming an essential solution.
Additionally, the development of advanced agricultural techniques, such as tissue culture and somatic hybridization, is expected to further propel the growth of the market. For example, research by the USDA shows that hydroponically grown tomatoes in greenhouses yield 10.59 pounds per square foot, compared to just 1.85 pounds per square foot for traditionally grown tomatoes.
However, the market faces challenges, such as high costs and a limited understanding of greenhouse farming techniques. Despite these hurdles, innovations such as rooftop greenhouses and government funding initiatives for sustainable agriculture are expected to create significant growth opportunities.
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Segmentation and Market Insights
The commercial greenhouse market is segmented based on type, equipment, crop type, component, and geography. The market is divided into glass and plastic greenhouses, with the plastic greenhouse sub-segment further categorized into polyethylene, polycarbonate, and polymethyl methacrylate. On the equipment front, hardware and software & services categories dominate, with lighting systems, climate control systems, sensors, and irrigation systems being critical components.
Crop types include fruits and vegetables (e.g., tomatoes, cucumbers, and strawberries), flowers and ornamentals, and nursery crops. The market is also categorized by components into high-tech, medium-tech, and low-tech greenhouses.
Geographically, North America holds the largest market share, with significant adoption of advanced farming technologies and high demand for ornamental flowers. The Asia-Pacific region is expected to see rapid growth, driven by increasing commercial greenhouse projects and demand for seasonal fruits and vegetables.
Competitive Landscape
The commercial greenhouse market is highly fragmented, with key players such as LumiGrow, Argus Control Systems Ltd., Richel Group, Logiqs BV, Rough Brothers, Inc., Heliospectra AB, Certhon, and Berry Global leading the charge. These companies are adopting various strategies, including investments, partnerships, and technological innovations, to strengthen their market position.
For instance, in April 2020, Denso made a strategic investment in Certhon Group to develop automated solutions for the greenhouse industry. Additionally, in January 2020, Madar Farms partnered with Certhon Group to establish an indoor farming facility in the UAE, further enhancing local food production.
Conclusion
The global commercial greenhouse market is on a growth trajectory, fueled by increasing food demand, land scarcity, and advancements in agricultural technology. As the industry continues to evolve, greenhouse farming is expected to play a critical role in meeting global food security challenges while driving economic opportunities in the agricultural sector.
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