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Aug 28, 2023

Greenhouse Horticulture Market Size

IMARC Group, a leading market research company, has recently releases report titled “Greenhouse Horticulture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”

IMARC Group, a leading market research company, has recently releases report titled “Greenhouse Horticulture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global greenhouse horticulture market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

The global greenhouse horticulture market size reached US$ 28.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 48.3 Billion by 2028, exhibiting a growth rate (CAGR) of 9.2% during 2023-2028.

Greenhouse horticulture is an agricultural method that involves cultivating crops within a transparent structure, creating a controlled growth environment customized to the specific needs of the plants. Some commonly grown crops in greenhouses include cucumber, strawberry, tomato, and lettuce. It depends on the high inputs of the growers to provide modified growing conditions and efficiently protect plants from diseases, pests, and unfavorable weather conditions. It can effectively regulate numerous environmental factors such as light, humidity, temperature, and carbon dioxide (CO2) levels. Additionally, it allows the production of off-seasoned crops annually by offering specific climatic conditions required for yielding huge quantities of quality crops. As a result, greenhouse horticulture is extensively utilized for flowers and ornamentals, nursery crops, and fruits and vegetables across the globe.

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The market is primarily driven by the significant expansion in the agricultural sector. Additionally, the growing use of greenhouse horticulture due to the increasing population, rising food demand, rapid urbanization, and the growing shift toward indoor agricultural practices are contributing to the market growth. In line with this, the increasing adoption of sustainable horticulture methods for growing vegetables sensitive to temperature, cold weather, and soil conditions, as it helps protect plants from harsh weather conditions such as droughts and rains, is influencing the market growth. Moreover, several technological advancements and the introduction of the Internet of Things (IoT)-enabled lighting systems, as they induce photosynthesis in plants with photoperiodic and supplemental lighting, represent another major growth-inducing factor. Besides this, several countries have implemented favorable government policies to encourage the adoption of greenhouse horticulture, providing subsidies, tariffs, or import levies, and direct payments to farmers are accelerating the product adoption rate. Along with this, farmers and horticulture workers are leveraging sensor technologies such as AI-based solutions to detect crop diseases and pests, and light-emitting diode (LED)-based solutions to collect data through machine learning (ML) algorithms to allow remote monitoring are propelling the market growth.

Apart from this, the greenhouse horticulture market is growing at different rates in numerous regions, with Europe being one of the largest markets due to the growing awareness among individuals regarding sustainable agriculture, the increasing popularity of greenhouse farming, and the surging need for technology-driven agriculture practices. Moreover, the industry is expected to face competition in the upcoming years as numerous key players are implementing competitive strategies to sustain their presence in the market. For instance, in June 2018, Illumitex introduced its new product HarvestEdge, an advanced light-emitting diode (LED) grow lighting system designed specifically for indoor farming, offering efficient and effective lighting for crop cultivation in controlled environments. Furthermore, rising investments in research and development (R&D) activities to improve crop yield and increase productivity and mergers and acquisitions (M&A) among key players are creating a positive market outlook.

The report has segmented the market into the following categories:

Breakup by Material Type:

Breakup by Crop Type:

Breakup by Technology:

Breakup by Region:

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The report covers the major market players including:

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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