New York, USA, Nov. 24, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global greenhouse horticulture market is projected to generate $66,419.9 million in revenue and grow at a healthy CAGR of 10.0% during the estimated timeframe from 2021-2028.
As per our analysts, due to the increasing demand for fresh, locally grown, and healthy food all across the globe, the market is predicted to see remarkable growth during the analysis period. Moreover, the growing support from the government to enhance healthy agricultural productivity and the popularity of the greenhouse horticulture sector is expected to bolster the growth of the market during the forecast period. Besides, the increasing adoption of innovative and advanced technologies such as automated irrigation systems, pH sensors for pest management, climate control software, the greenhouse horticulture market is anticipated to fuel the growth of the market over the analysis timeframe. However, the lack of awareness among farmers to carry out greenhouse horticulture and high operating expenses of greenhouse horticulture, the market may impede during the estimated period.
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Segments of the Market
The report has been divided the market into segments namely, product type, type, and region.
- Product Type: Fruits & Vegetables Sub-Segment to be Most Lucrative
The fruits & vegetable sub-segment is expected to garner a revenue of $37,354.3 million and is expected to see steady growth throughout the forecast period. This is mainly because greenhouse horticulture prevents the crops from high blowing wind and rodents and maintains suitable temperatures for the growth of the crops. In addition, as greenhouse horticulture enables farmers to grow off-season crops by providing ambient temperature, this factor is further expected to fortify the growth of the greenhouse horticulture market sub-segment throughout the analysis period. - Type: Plastic Greenhouse Horticulture Sub-Segment to be Most Profitable
The plastic greenhouse horticulture sub-segment is predicted to garner a revenue of $50,890.6 million over the forecast period. This is mainly because plastics help in providing the ideal temperature for the growth of the plant, insulating plants much effectively and plastics are quite handy. Moreover, the cost-effectiveness of plastics and being more durable during extreme weather, are further predicted to boost the growth of the market sub-segment over the analysis period.
The Greenhouse Horticulture Market to Obverse Widespread Growth with the Rising Demand for Food Worldwide - Analyst Review by Research Dive
- Region: North America Region Anticipated to Have Huge Growth Opportunities
The North America region is projected to grow at a noteworthy CAGR of 10.6% during the forecast timeframe. This is majorly due to the rising demand for locally grown and pesticide-free products in this region. Furthermore, the growing demand for controlled environment agriculture (CEA) crops in this region, due to extremely cold weather, is expected to drive the regional growth of the greenhouse horticulture market during the analysis period.
Covid-19 Impact on the Greenhouse Horticulture Market
The spread of the novel coronavirus has impacted several industries drastically. Likewise, it has had a negative impact on the greenhouse horticulture market. Due to the spontaneous spread of the deadly virus, many countries imposed stringent lockdowns, social distancing protocols and applied strict guidelines for travel and transports. This led to the disruption in the supply chain and caused a shortage of skilled laborers for crop harvesting. Moreover, the disruption in transports hampered the movement of agricultural products to markets and consumers. All these factors have caused a straight decline in the growth of the market during the pandemic period. However, latterly, the strong initiative taken by the governments of many countries to address the food crisis and ensure food security is expected to upsurge the growth of the greenhouse horticulture market during the estimated period.
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10 Prominent Key Players of the Greenhouse Horticulture Market Include-
- Luiten Greenhouses
- Europrogress
- Sotrafa
- Poly-Tex, Inc.
- Netafim
- Certhon
- Dalsem
- Rough Brothers, Inc.
- Van der Hoeven Horticultural Projects BV.
- Richel Group
These players are widely working on the development of new business tactics and statistics to attain leading positions in the global industry. Inquire and Get Quick Access to Top Companies Development Strategies Summary Report
For instance, in October 2019, Autogrow, a New Zealand-based leading provider of automated solutions for the greenhouse, grow room, and tunnel house has announced its collaboration with Ridder Group, the Netherlands-based provider of innovative technical solutions for protected horticulture. With this collaboration, Autogrow launched its new farm management platform named Farm Road to provide an autonomous farming platform.
Further, the report also presents other vital aspects including product portfolio, the financial performance of the key players, SWOT analysis, and the latest strategic developments.
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