Greenhouse Market Estimated At USD 53.51 Billion By 2030

 San Francisco, 10 May 2024: The Report Greenhouse Market Size, Share & Trends Analysis Report By Type (Glass Greenhouse, Plastic Greenhouse), By Offering (Hardware, Software, Services), By Crop Type, By End-user, By Region, And Segment Forecasts, 2023 - 2030

The global greenhouse market size is anticipated to reach USD 53.51 billion by 2030, registering a CAGR of 9.9% over the forecast period, according to a new report by Grand View Research, Inc. The rise in food consumption is related to the development of contemporary agricultural practices such as greenhouse farming. According to the Food and Agriculture Organization (FAO) of the United Nations, 70% of food production must increase by 2050 to meet world food demand. Consequently, rising population and urbanization, along with a lack of arable land, are driving the use of alternative agricultural practices such as greenhouse farming. Greenhouse farming has enormous potential to assist satisfy the growing population demands witnessed in several nations such as China and India.

Indoor farming techniques including vertical farming and greenhouse farming have several advantages over traditional agricultural methods, including less water consumption, precision crop growth year-round, high yield of produce, reduced food waste, prevention of agricultural run-off, integrated pest management, and cultivation in limited space, among others. Moreover, the requirement to generate high yields while maintaining growing conditions such as enough light and shade, temperature, humidity, fertilization, pollination, and irrigation in farms is fueling greenhouse market expansion. Greenhouse producers employ automation techniques such as automated watering systems, climate control software, and pH sensors to produce high-quality crops and harvests.

The greenhouse farming technique can be used for niche application segments, such as the production of biopharmaceutical products. Pharmaceutical products are high-value products that require stringent quality control checks. Molecular farming envisages the production of commercially valuable and pharmaceutically important proteins in plants. Molecular farming holds the potential to provide proteins that can be used as a therapeutic and diagnostic tool in healthcare and life sciences.

The need for growing crops for the ingredients that can potentially help in producing high-quality pharmaceutical products is expected to open new opportunities for the adoption of greenhouse farming. The biopharmaceutical market is dominated by recombinant proteins and is mainly driven by the continued development of antibodies and vaccines. Manufacturing of bio-pharma products mainly relies on fermentation-based production platforms, which mostly have high upstream process costs and limited scalability. However, greenhouse farming can serve as a cost-efficient and scalable alternative for the effective production of recombinant proteins since each plant functions as a self-contained bioreactor by itself, thereby annulling the costs associated with single-use devices.

The COVID-19 pandemic has generated awareness about the benefits of greenhouse farming to overcome the food crisis. Countries like the U.K., Singapore, Japan, and the U.S. are investing in the development of greenhouse farms and aiming for a significant rise in local production. However, despite the investments, greenhouse farming possesses challenges such as struggle with power costs, difficulty in the maintenance of the controlled environment, and high startup costs, especially for the high-tech, automated facilities for advanced climate control. Therefore, overcoming these challenges and managing high investments in developing greenhouse farms would require time.

Europe accounted for the largest market share of about 32% in 2022. Europe has leading food and agriculture institutes such as Rothamsted Research in the U.K. and Wageningen University & Research in the Netherlands. The region also has large companies such as Sotrafa, Logiqs B.V., and Luiten Greenhouses BV that focus on innovations. Government bodies play a vital role in taking initiatives to develop the greenhouse farming market in the region. The European Commission has introduced the Horizon 2020 program that offers funds to bring new technologies into the European market. To achieve this, start-ups and the public sector have to work together to develop innovative technologies.

Access Research Report of Greenhouse Market @ https://www.grandviewresearch.com/industry-analysis/greenhouse-market-report

Greenhouse Market Report Highlights

• The plastic greenhouse segment accounted for the largest share of about 42% in 2022 and is expected to dominate during the forecast period. Unlike glass greenhouses, which are made primarily from glass or other transparent materials, plastic greenhouses are often made from polyethylene or other types of plastic sheeting. They are a popular option for hobby gardeners and commercial growers, as they are less expensive and easier to maintain than glass greenhouses. Furthermore, the primary advantage of plastic greenhouses is that they are more affordable and accessible than glass greenhouses
• Based on offering, hardware accounted for the largest market share of about 62% in 2022. Hardware plays a significant role in maintaining the environment of greenhouse farms. Hardware for the greenhouse includes the physical equipment and devices that are used to automate and control various aspects of greenhouse operations. This includes tools for climate control, irrigation, lighting, and monitoring
• The fruits, vegetables & herbs segment accounted for the largest market share of about 56% in 2022 and is anticipated to continue its dominance in coming years. The segment's growth can be attributed to the increased production of frequently produced fruits and vegetables in greenhouses. Crops grown in greenhouses provide maximum profit to companies involved in their cultivation. At the same time, greenhouse farming improves biodiversity as it does not cause land disturbances
• The research and educational institutes segment is expected to register the fastest CAGR of 10.7% during the forecast period. Research institutes use greenhouses to conduct experiments that require precise control of growing conditions, including temperature, humidity, light, and nutrient levels. Greenhouses allow researchers to manipulate these factors and test hypotheses about the impact of different environmental conditions on plant growth, yield, and quality
• Asia Pacific is forecast to register the highest CAGR of 11.3% from 2023 to 2030. The greenhouse industry is expected to observe healthy growth due to the growing population, and the need to ensure food security through alternative high-yield farming techniques

Greenhouse Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 27,652.1 million
Revenue forecast in 2030	USD 53.51 billion
Growth Rate	CAGR of 9.9% from 2023 to 2030
Base year for estimation	2022
Historical data	2017 - 2021
Forecast period	2023 - 2030

List of Key Players in the 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.

Access Press Release of Greenhouse Market @ https://www.grandviewresearch.com/press-release/global-greenhouse-market