Dublin, March 11, 2024 (GLOBE NEWSWIRE) -- The "China Commercial Greenhouse Market - Forecasts from 2023 to 2028" report has been added to ResearchAndMarkets.com's offering.
The China commercial greenhouse market is estimated to grow at a CAGR of 8.53% to reach US$7160.714 million by 2028 from US$4037.712 million in 2021.
Increasing demand for fruits and vegetables in the country with rising population and increasing purchasing power among the people are expected to increase the demand for commercial greenhouses in the country. As commercial greenhouses give more plantation output in less area, these advantages in techniques, agricultural technologies, and knowledge are expected to improve the output and increase the popularity of commercial greenhouses in the projected period.
According to the China Customs data the durian imports in the first six months of 2023, reached a volume of 7.87,000 metric tons and a value of US$3.83 billion, which is a 57.1% year-on-year increase in volume and 64.9% year-on-year increase in terms of value. In 2022, China's durian imports were only 8,25,000 metric tons, and in value, it was US$4.04 billion which, the country almost surpassed in six months only. Hence, as there is an increase in population the demand for fruits and vegetables is expected to rise, which is increasing pressure on commercial greenhouse farming as it can produce more agricultural output in less space.
Increasing imports from other countries
The decreasing area for cultivating food products is expected to provide a boost to market growth. According to the World Bank, the percentage (%) of agricultural land in China in 2021 was 55.5%. Moreover, with the increasing population in the country, the demand for food products is expected to grow in the coming years. For instance, according to the World Bank, the population in 2018 in China was 1.40 billion which increased to 1.41 billion in 2021. With the increasing population, coupled with the rising standard of living in the population, the market for commercial greenhouses is expected to grow in the coming years.
According to the United States Economic Research Service, by the United States Department of Agriculture, China imported agricultural products worth US$025 billion in 2021, the highest exporter was Brazil which imported products worth US$45 billion.
According to the U.S. Census Bureau Trade Data, the United States exported agricultural products worth US$13,583 million in 2019, which increased to almost double in 2020, and reached US$26,399 million in 2020, and in 2021 the exports by value increased by 25% and reached US$32,977 million. As the demand for food and agricultural products rises in China, the country is expected to come up with new and innovative solutions that could enhance agricultural production and imports. Hence, the use of commercial greenhouses is expected to increase significantly in the country as there is increasing demand for agricultural products and commercial greenhouses can suffice that demand with less cultivable land, and in a temperature-controlled environment.
Segmentation:
By Type
- Free Standing
- Gutter Connected
By Component
- High-Tech Commerical Greenhouse
- Heating System
- Heaters
- Valves
- Vents
- Others
- Cooling System
- Fans
- Cooling Pad Systems
- Medium-Tech Commerical Greenhouse
- Heaters
- Cooling Pads
- Thermostats
- Exhaust Fans
- Others
- Low-Tech Greenhouse
By Application
- Fruits and Vegetables
- Flowers and Ornamentals
- Nursery Crops
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 89 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value (USD) in 2021 | $4037.71 Million |
| Forecasted Market Value (USD) by 2028 | $7160.71 Million |
| Compound Annual Growth Rate | 8.5% |
| Regions Covered | China |
Companies Mentioned
- Beijing Kingpeng International Hi-Tech Corporation
- Noonty Greenhouse Co., Ltd.
- Qingzhou Xinhe Greenhouse Horticulture Co., Ltd.
- Chengdu Chengfei Green Environmental Technology Co., Ltd.
- HUIJING
For more information about this report visit https://www.researchandmarkets.com/r/9208un
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