5 Key Takeaways From The Greenhouse Horticulture Market Report 2023
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
As per The Business Research Company’s Greenhouse Horticulture Global Market Report 2023, the greenhouse horticulture market is expected to show significant growth in the forecast period.
The global greenhouse horticulture market is on the brink of remarkable growth. It is anticipated to surge from $26.66 billion in 2022 to $29.64 billion in 2023, boasting a robust compound annual growth rate (CAGR) of 11.2%. This growth trajectory is projected to continue, leading the market to reach an impressive $44.03 billion by 2027, maintaining a solid CAGR of 10.4%. In this blog, we delve into the forces driving this expansion, with a particular focus on the high demand for food as a significant catalyst. We’ll also introduce key players in the market, discuss the trend of product innovations, and provide insights into market segmentation and regional dynamics.
The Hunger for Growth: High Demand for Food
One of the principal drivers of the greenhouse horticulture market is the high demand for food. This phenomenon occurs when the need for food exceeds the available supply, often due to a growing population. Greenhouse horticulture plays a pivotal role in addressing this demand by providing an optimal microclimate for plant growth, enabling fruits to be cultivated more efficiently. A report published in July 2021 by Nature Portfolio reveals that global food demand is projected to surge from 35% to 56% between 2010 and 2050. This escalating food demand positions greenhouse horticulture as a solution for future food security.
Market Leaders: Major Players in Greenhouse Horticulture
Driving innovation and product quality in the greenhouse horticulture market are several key players. These industry leaders include:
- Signify Co. Ltd.
- Europrogress Group
- Rough Brothers Inc.
- Priva Holding BV
- Netafim Ltd.
- Richel Group SA
- Nexus Corporation
- Atlas Manufacturing Inc.
- Dalsem B.V.
- Certhon Co.
- Hoogendoorn Growth Management
- GGS Structures Inc.
- Argus Control Systems Limited
- Cravo Equipment Ltd.
- AB Ludvig Svensson
- Van der Hoeven Horticultural Projects BV
- Poly-Tex Inc.
- Ammerlaan Construction B.V.
- Luiten Greenhouses BV
- Ridder Drive Systems B.V.
- CropKing Inc.
- Mardenkro B.V.
- Kubo Group Ltd.
- Logiqs B.V.
- Hort Americas LLC
- Ceres Greenhouse Solutions LLC
- Agra Tech Inc.
- Heliospectra AB
- Argosee Greenhouse Technology Pty Ltd
- Greentech Industries India Private Limited
A Green Revolution: The Trend of Product Innovations
A pivotal trend sweeping through the greenhouse horticulture market is technological innovation. Companies within the market are committed to developing new products to maintain their competitive edge. For example, in February 2023, Heliospectra, a Sweden-based provider of intelligent LED grow lights, launched MITRA Flex, a wirelessly controllable flexible far-red light with three spectra in one. This innovation provides adaptable far-red light, making it ideal for individualized and application-based growing. It enables end-of-day or end-of-production light treatments, ensuring year-round healthy crops even during low-light seasons. These innovations serve to enhance the future prospects of greenhouse horticulture.
Market Segmentation and Regional Dynamics: A Comprehensive Overview
The global greenhouse horticulture market is characterized by intricate segmentation, involving the following factors:
- Crop Type:
- Fruits and Vegetables
- Nursery Crops
- Flowers and Ornamentals
- Other Crop Types
- Plastic Greenhouse
- Glass Greenhouse
- Grow Bags
- Greenhouse Films
- Wind Break and Shelter Nets
- Horticulture Twines
- Other Products
- Heating System
- Cooling System
- Other Technologies
Global Dynamics: Regional Perspectives
In 2022, Europe dominated the greenhouse horticulture market. Nevertheless, North America is poised to be the fastest-growing region in the forecast period, signifying evolving dynamics in regional markets.
View More On The Greenhouse Horticulture Market Report 2023 – https://www.thebusinessresearchcompany.com/report/greenhouse-horticulture-global-market-report
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The Greenhouse Horticulture Global Market Report 2023 provides an in-depth analysis on the greenhouse horticulture market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the greenhouse horticulture 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.
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