May 26, 2024
Commercial Greenhouse Market

Commercial Greenhouse Market Size Projected To Exceed US$ 5 Billion By 2031 Propelled By Increasing Adoption Of Vertical Farming

The Commercial Greenhouse Market consists of highly durable and weather-resistant structures that utilize artificial and natural sunlight to grow crops throughout the year. Commercial greenhouses deliver high crop yields even in unfavorable weather conditions and aid in meeting food demand across the world.

The global Commercial Greenhouse Market is estimated to be valued at US$ 5 billion in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market key Trends:

Vertical farming adoption has been steadily rising over the past few years driven by growing global population and rising demand for food. Vertical farming technique employs stacking cultivation trays vertically within greenhouses with precise lighting, climate control, and irrigation to maximize yield from limited space. Vertical farms enable year-round harvesting of leafy greens, herbs, fruits, and other crops and play a vital role in augmenting global food production to address food scarcity. Increase in application of vertical farming propelled by high yields, steady output and limited land requirement is expected to boost commercial greenhouse market growth over the forecast period.

SWOT Analysis

Strength: Greenhouse farming allows year-round production of crops in a controlled environment. This enhances food security.
Weakness: High initial setup and maintenance costs associated with greenhouse equipment and infrastructure.
Opportunity: Increasing demand for locally grown and organic foods is driving investments in commercial greenhouse farming.
Threats: Fluctuations in weather patterns and temperatures due to climate change pose risks to greenhouse crops.

Key Takeaways

The global Commercial Greenhouse Market Growth  is expected to witness high growth. The global Commercial Greenhouse Market is estimated to be valued at US$ 5 billion in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2024-2031.

North America currently dominates the market owing to significant investments and a well-established greenhouse industry in the US and Canada. European countries are also major markets. Countries in Asia Pacific and Latin America are emerging markets with high growth opportunities driven by rising food demand from growing populations and commercial agriculture expansion.

Key players operating in the commercial greenhouse market are Richel Group SA, Argus Control Systems Ltd., Certhon, Logiqs B.V., Lumigrow, Inc., Agra Tech, Inc, Rough Brothers, Inc., Nexus Corporation, Hort Americas, LLC, and Heliospectra AB. They provide integrated solutions including greenhouse equipment, climate control systems, irrigation and fertigation systems, among others. Acquisitions and partnerships are common in this industry as producers focus on new technologies to boost yields and optimize operations.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it