Commercial Greenhouse Market growth, Business Opportunity by 2030

Description

The global commercial greenhouse market size is expected to grow from USD 2,158.5 million in 2021 to USD 3,492.5 million by 2030, at a CAGR of 6.2% from 2022 to 2030. Adopting advanced technology in agriculture has improved farmers' approaches in the farmland. Modern agriculture has made it easy for the farmers to achieve high productivity while efficiently utilizing resources. As the farming sector expands, farmers worldwide aim for higher yields, quality products, and economies of scale. The needs of the rising population, the necessity to increase crop yields, increasing food demand, and increased productivity drive the market.

The factors such as decreasing arable land, climate changes, increasing demand for food, and benefits derived from the greenhouse cultivation of crops, are popularizing and encouraging the greenhouse installation, thereby driving the market growth. Factors such as high initial setup costs and lack of technical expertise among farmers may also restrain the market's growth studied during the forecast period.

The rapid growth in population with shrinkable land, particularly in China and India, is anticipated to drive the greenhouse market in the Asia-Pacific region. One of the major reasons for greenhouse farming growth is that cultivable land is shrinking year to year. Therefore, maximizing the crop yield in the available land to meet the increasing food demand is propelling the commercial greenhouse farming market. Also, the fluctuations in the climatic conditions worldwide are pushing the farmers toward employing greenhouse farming techniques, resulting in the growth of the market studied.

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Global Commercial Greenhouse Market Dynamics

Drivers: Fluctuating Climatic Conditions

Climate impacts all components of crop production, including cropping area and cropping intensity. Changes in the frequency and severity of droughts and floods could pose challenges for farmers and ranchers and threaten food safety, leading to lower yields globally. The utilization of greenhouse techniques at a commercial scale provides a protected and controlled atmosphere, which can favor the production of seasonal crops throughout the year.

Higher CO2 levels can affect crop yields. Though the rising CO2 levels can stimulate plant growth, it also reduces the nutritional value of most food crops. According to some laboratory experiments, elevated CO2 levels can increase plant growth. Other factors may mitigate these potential yield increases, such as changing temperatures, ozone, and water and nutrient shortages. If a crop's optimal temperature is exceeded and enough water and nutrients are not available, yield increases may be reduced or reversed.

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Restraints: High Initial Investments

Greenhouse farming requires high startup costs, and raising sufficient capital is one of the greatest challenges for entrepreneurs. Profit margins are very less with specific products or growing methods. Most US greenhouse growers only achieve a 3.5% profit margin at best, and during worse weather or slower sales, this goes down to 1%. A single out-of-control cost can wipe out an entire year’s budget at such margin rates. Several potential issues slowly raise the operating costs of the greenhouse, hampering the market growth.

The high initial investment is mainly attributed to the air conditioners and heaters used for temperature control in natural air, which are expensive and lead to high initial investments. According to the University of Wisconsin-Madison Extension Office, heating is one of the highest costs for the greenhouse grower, especially in cool or cold climates where extensive heating is needed to grow the crops.

Scope of the Commercial Greenhouse

The study categorizes the commercial greenhouse market based on equipment type, crop type, greenhouse type at the regional and global levels.

By Equipment Type Outlook (Sales, USD Million, 2017-2030)

• Heating systems
• Cooling systems
• Other Equipment Types

By Crop Type Outlook (Sales, USD Million, 2017-2030)

• Fruits and Vegetables
• Flowers and Ornamentals
• Nursery Crops
• Other Crop Types

By GreenHouse Type Outlook (Sales, USD Million, 2017-2030)

• Glass Greenhouses
• Plastic Greenhouses

By Region Outlook (Sales, USD Million, 2017-2030)

• North America (US, Canada, Mexico)
• South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
• Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
• The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

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The heating systems segment is projected to account for the largest market share, by equipment type

Based on equipment type, the global commercial greenhouse market is divided into heating systems, cooling systems, and other equipment types. In 2021, the heating systems segment accounted for the largest market share in the global commercial greenhouse market. In greenhouses, heating systems are one of the major equipment used and hold the largest market share. A centralized hydronic heating system is generally a more efficient form of heating in greenhouses greater than 1000m2, especially where several separate greenhouses exist. The amount of heat that can be transferred out of the greenhouse is dependent on the surface area of the structure. A large surface area can lose more heat than a smaller surface area over the same time. Hence, commercial greenhouse growers need to focus on a small surface area to receive optimum heat for the plans.

Energy-saving is a major concern in greenhouse cultivation. Hence, equipment manufacturers are focusing on launching energy-saving heating systems after many experiments. For instance, in April 2019, PHNIX, a heat pump manufacturer in China, developed an impressive greenhouse integrated energy-saving heat pumps through a series of experiments and many successful sample projects in China, proved to be a lot more energy-efficient than a traditional heater, such as gas, oil, electricity, and wood.

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Asia Pacific accounts for the highest CAGR during the forecast period

Based on the regions, the global commercial greenhouse market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Globally, Asia Pacific is estimated to hold the highest CAGR of 8.2% in the global commercial greenhouse market during the forecast period. China has become one of the major fruits, vegetables, and ornamentals. The greenhouse manufacturing industry has made a lot of progress and currently provides high-tech greenhouses at competitive prices.

With the increasing need for higher yields and advancement of technology in greenhouse cultivation in China attracting more farmers to adopt the mechanism, the market is anticipated to grow during the forecast period. Moreover, Greenhouses have long been used in India for commercial flower and vegetable production, but standard designs are too large and expensive for small farmers. Kheyti, a nonprofit organization, has created several scaled-down versions to help introduce greenhouses to small farmers. The organization has tied up with banks to provide farmers with loans for greenhouse construction. As the popularity of greenhouses grows, the market is expected to grow in the forecast period. In Madhya Pradesh, under the Mission for Integrated Development of Horticulture policy, the government provided greenhouse, shade net house, plastic mulching, etc., for pomegranate and lemon farming at a subsidized price.

Key Market Players

The commercial greenhouse market is mildly concentrated, with few global players operating, such as Richel Group, Rough Brothers Inc., Lumigrow Inc., Nexus Corporation, Certhon, Logiqs BV, Hort Americas, Heliospectra AB, and Agra Tech Inc.

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