Westford, USA, Dec. 06, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that greenhouse market size will attain the value of USD 59.64 Billion by 2031, with a CAGR of 9.9% during the forecast period (2024-2031). The rapidly increasing global population and the emphasis on providing food for their nutritional needs are expected to create new business opportunities for greenhouse suppliers. Growing emphasis of countries and governments to improve food security amid rising issues of food supply shortages is also expected to bolster the demand for greenhouses over the coming years. Advances in greenhouse technologies and increasing awareness of its benefits are also expected to fuel the market growth in the future. Growing climate change issues and ongoing weather unpredictability are expected to drive adoption of greenhouse gases by 2031.
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Greenhouse Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 28.02 Billion |
| Estimated Value by 2031 | USD 59.64 Billion |
| Growth Rate | Poised to grow at a CAGR of 9.9% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Offering, Crop Type, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the world |
| Report Highlights | Significant Investments in Greenhouse Infrastructure |
| Key Market Opportunities | Integration of Smart Technologies and IoT in Greenhouse Farming |
| Key Market Drivers | Rising Demand for Sustainable Agricultural Practices |
Greenhouse Market Segmental Analysis
The greenhouse market is segmented based on the type, offering, crop type, end user, and region.
Based on the type, the greenhouse market is segmented into glass greenhouse and plastic greenhouse.
Based on offering, the market is segmented into hardware (climate control systems, lighting systems, irrigation systems, sensors, others), software (cloud-based, web-based), and services (system integration & consulting, managed services, assisted professional services).
By crop type, the market is divided into fruits, vegetables & herbs, flowers & ornamentals, and others.
In terms of end user, the market is segmented into commercial growers, research and educational institutes, retail gardens, and others.
Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Plastic Greenhouse Segment to Dominate Due to Longer Durability
As per the greenhouse market outlook, plastic greenhouse is expected to account for the largest share in the future. The cost-effectiveness of thermoplastics makes them popular worldwide. Longer durability, better light transmission and easier extension of growing season are some other advantages of plastic greenhouses that reinforce the dominance of this segment. High adoption of plastic greenhouses in developing and underdeveloped economies is also expected to boost revenue generation for greenhouse companies focusing on this segment.
Flowers and Ornaments Segment is Growing Due to Good Protection Against Pests and Plant Diseases
On the other hand, the popularity of flowers and ornaments segment in home greenhouses is predicted to increase rapidly during the forecast period. Good protection against pests and plant diseases and controlled environmental conditions to maintain optimal growing conditions contribute to the high yield of flowers and ornamental products in home greenhouses. Furthermore, rising demand for flowers in multiple commercial applications is also expected to encourage more greenhouse farmers to invest in this segment and drive market development in the future.
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Asia-Pacific is Growing Due to Greater Acceptance of Precision Agricultural Practices
As per the greenhouse market analysis, the demand for greenhouses in the Asia-Pacific region is expected to grow at an impressive pace during the forecast period. Greater acceptance of precision agricultural practices, greater emphasis on sustainability and increased awareness regarding benefits of greenhouse farming are expected to drive up the sales of greenhouses in this region. Subsidies and government policies to help encourage the use of greenhouses are expected to create new business scope for greenhouse providers.
Drivers
- Rising Demand for Sustainable Agricultural Practices
- Advancements in Greenhouse Technologies
- Increasing Adoption of Controlled Environment Agriculture (CEA)
Restraints
- High Initial Investment and Operational Costs
- Dependence on Skilled Labor for Maintenance and Operation
- Challenges Due to Climate Variability and Natural Disasters
Prominent Players in Greenhouse Market
- Sotrafa
- Berry Global
- NETAFIM
- Certhon
- Richel Group SA
- Stuppy Greenhouse
- Logiqs B.V.
- Argus Control Systems Ltd.
- Poly-Tex, Inc.
- The Glasshouse Company
- Luiten Greenhouses BV
- Agra Tech, Inc.
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Key Questions Answered in Greenhouse Market Report
- Who are the key players in the market?
- Which is the dominating region in the market?
- What are the key restraints of the market?
- Which is the growing region in the market?
This report provides the following insights:
Analysis of key drivers (rising demand for sustainable agricultural practices), restraints (high initial investment and operational costs), opportunities (integration of smart technologies and IoT in greenhouse farming) influencing the growth of greenhouse market.
- Market Dynamics: Comprehensive information about the various products offered by the dominant players in the greenhouse market.
- Product Development/Innovation: An overview of emerging trends, R&D activities and product launches in the greenhouse market.
- Market Growth: Detailed information on profitable growing industries.
- Market Trends: Complete information about new products, emerging geographical areas and recent developments in the market.
- Competitive Analysis: An in-depth analysis of the market segments, growth strategies, revenue analysis, and products of the key market players.
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We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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