The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s food crops grown under cover market report forecasts the food crops grown under cover market size to grow to $88.95 billion in 2027 by 2027, with a CAGR (compound annual growth rate) of more than 11%.

Learn More On The Food Crops Grown Under Cover Market Report 2023 – https://www.thebusinessresearchcompany.com/report/food-crops-grown-under-cover-global-market-report

Food Crops Grown Under Cover Market Size Forecast

The global food crops grown under cover market size is expected to grow from $50.43 billion in 2022 to $57.36 billion in 2023 at a compound annual growth rate (CAGR) of 13.73%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global food crops grown under cover market size is expected to reach $88.95 billion in 2027 at a CAGR of 11.59%.

North America held the largest food crops grown under cover market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Food Crops Grown Under Cover Market Driver ­– Increasing Demand For Organic Food

For instance, in 2021, an Organic Industry Survey report published by The Organic Trade Association (OTA), a US-based business association for the organic industry, the sales of organic food and food products in US increased by 12.4% in 2020 accounting for $61.9 billion in total. It represented a growth rate more than twice as fast as the 2019 pace of 5%, and it was the first time that total sales of organic food and non-food products had reached the $60 billion threshold. Therefore, increasing demand for organic food is propelling the growth of the food crops grown under cover market.

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Key Food Crops Grown Under Cover Market Trend – New Crop Production Techniques

New crop production techniques have emerged as the major trend gaining popularity in the food crops grown under cover market. Major companies operating in the food crops grown under cover market are introducing new crop production techniques such as greenhouses, vertical farming, and hydroponic farming to strengthen their position in the market.

Food Crops Grown Under Cover Market Segment

1) By Crop Type: Fruits And Vegetables, Herbs And Microgreens, Flowers And Ornamentals, Other Crop Types

2) By Growing System: Hydroponics, Aeroponics, Aquaponics, Soil-Based, Hybrid

3) By Component: Hardware, Software

4) By Facility Type: Glass Or Poly Greenhouses, Indoor Vertical Farms, Container Farms, Indoor Deep-Water Culture Systems, Other Facility Types

Food Crops Grown Under Cover Market Major Players and Strategies

Major players in the food crops grown under cover market are Argus Control Systems, LumiGrow, Netafim, Richel Groups, General Hydroponics, Crop One Holdings, Metropolis Farms Inc., Bright Farms Inc., Bowery Inc., Certhon, Vertical Farm Systems, Hydrodynamics International, Illumitex, Garden Fresh Farms, Green Sense Farms LLC and Sky Greens (Sky Urban Solutions).

In April 2022, Local Bounti Corporation, a US-based indoor agriculture company involved in the production of food crops under cover, acquired Hollandia Produce Group, Inc. for an amount of $122.5 million. Through this acquisition, Local Bounti Corporation aims for further margin expansion by implementing proprietary Stack and Flow Technology into Pete’s facilities and offering additional operational synergies. Hollandia Produce Inc. (Pete’s) is a US-based indoor farming company that specializes in growing and distributing premium greenhouse-grown produce, including tomatoes, cucumbers, and bell peppers.

The Food Crops Grown Under Cover Global Market Report 2023 covers regional data on food crops grown under cover market size, food crops grown under cover market trends and drivers, opportunities, strategies, and food crops grown under cover market competitor analysis. The countries covered in the food crops grown under cover market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Food crops grown under cover refers to the food crops that are produced or grown under glass or any protective cover.

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Grain Farming Global Market Report 2023

Organic Farming Global Market Report 2023

Farm Machinery And Equipment Market Report 2023

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