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The Global Greenhouse Horticulture Market Anticipated to Generate a Revenue of $66,419.9 Million, Growing at a CAGR of 10.0% from 2021 to 2028 - Research Dive

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The global greenhouse horticulture market is estimated to be valued at $ 66,419.9 million by 2028, surging from $32,085.0 million in 2020, at a noteworthy CAGR of 10.0%.

Impact Analysis of COVID-19 on the Greenhouse Horticulture Market

The global market for greenhouse horticulture is estimated to experience a low growth amid the COVID-19 pandemic. This low growth is the result of disruptions in supply chain, harvesting activities, and non-availability of migrant labors. In addition to this, disruptions in transportation have declined the growth of the market of greenhouse horticulture. Moreover, government has strictly issued lockdown guidelines that has exempted the farm operations and supply chains. Therefore, demand for greenhouse horticulture is also consequently projected to witness a rise.

However, almost all the countries lifted the lockdown and therefore companies started their manufacturing units that has restarted supply chain of the products. According to business news by The Economics Times, in September 2021, farmers were finding it difficult for sourcing products locally but most of the companies shifted to online platforms i.e., e-commerce. All such factors are predicted to bring new opportunities in the global greenhouse horticulture market.       

Global Greenhouse Horticulture Market Analysis

The enormous growth of the global greenhouse horticulture market is mainly attributed to increasing demand for protected crop cultivation owing to its advantages such as high yield with good quality products, higher water productivity, and reduction in pesticide allowing farmers to take advantage of market seasonality and higher prices. Moreover, according to Rise Hydroponics TM, agri-tech company, in an article in May 2021, revealed that protected crop cultivation is one of the best options because protected crop cultivation can produce genetically better and disease-free transplant, high crop yield, and no biotic stress to the plants. These types of factors can fuel the market growth.        

High operational cost of greenhouse horticulture owing to high maintenance of plants in greenhouse condition along with strict government regulations are some of the key issues that may create a negative impact on the market during the forecast period.

The increasing adoption of sustainable horticulture practices and technological advancements in the sector are some of the trends that may create huge opportunities for the market in the future. Now-a-days, lighting systems that are enabled with Internet of Things (IoT) are also driving the market growth. Moreover, LED-based agri-tech solutions can be remotely adjusted or collect the data by using machine learning (ML) algorithms and therefore have a longer operational life. Furthermore, extensive research and development (R&D) activities along with some favorable government policies that are promoting greenhouse horticulture are some of the elements that are expected to drive the market further and such technological advancements may further lead to lucrative market opportunities in the market in the upcoming years.     

Global Greenhouse Horticulture Market, Segmentation

The global greenhouse horticulture market is segmented based on product, type, and region.

Product Type:

The product type segment is further classified into fruits & vegetables, nursery crops, flowers & ornamentals, and others. Among these, the fruits & vegetables type sub-segment is anticipated to have the fastest as well as dominant growth and surpass $37,354.30 million by 2028, with an increase from $17,496.90 million in 2020. 

The market growth can be attributed to increasing demand for off-season fruits and vegetables along with growing trends of fruits & vegetables that are genetically higher quality and use less chemicals & pesticides.

Type:

The type segment is further divided into plastic greenhouse and glass greenhouse. The plastic greenhouse sub-segment is anticipated to be the dominating as well as fastest growing sub-segment in the global market and register a revenue of $50,890.6 million during the analysis timeframe.

The growth of plastic greenhouse sub-segment is attributed to its material such as copolymer plastic, polycarbonate materials and it is considered as one of the best greenhouse covering materials because of better heat insulation, durability, safety, UV protection, affordability, and easy to use. These aspects may aid in the generation of a lucrative revenue for the market throughout the forecast period.     

Region:

The greenhouse horticulture market for the Europe region is projected to witness dominant share. This market generated a revenue of $14,462.10 million in 2020 and is further projected to reach up to $28,768.90 million by 2028.  

The demand for greenhouse horticulture is surging in the Europe region specifically because of factors such as increasing prevalence of modern farming technologies along with increasing adoption of sustainable horticulture practices. For instance, Wageningen University across the Netherlands, is actively contributing to the development of sustainable greenhouse horticulture crops. All such factors are anticipated to boost the market in the Europe region.

Top 13 Key Players in the Global Greenhouse Horticulture Market -

  1. Richel Group
  2. Rough Brothers, Inc.
  3. Certhon
  4. Poly-Tex, Inc.
  5. The Glasshouse Company Pty Ltd.
  6. Europrogress
  7. Luiten Greenhouses
  8. Sotrafa
  9. Ammerlaan Construction, Nobutec B.V.
  10. Ridder Drive Systems BV
  11. Netafim
  12. Dalsem
  13. Van der Hoeven Horticultural Projects BV.

Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.

Porter’s Five Forces Analysis for the Global Greenhouse Horticulture Market

  • Bargaining Power of Suppliers: The suppliers involved in the market are extensive in number. Thus, manufacturers and companies have several options and alternatives to handle expensive supplies. Moreover, unpredictable demands in supplier pricing may impact company profitability. Hence, there will be moderate threat from the supplier side.
    Thus, the bargaining power of the suppliers is moderate. 
  • Bargaining Power of Buyers: Buyers have low bargaining power, primarily because greenhouse horticulture products are sold at relative high prices.
    Hence, the bargaining power of buyers is low. 
  • Threat of New Entrants: Startups entering this market are providing innovative greenhouse horticulture to the customers. However, companies that are in the greenhouse horticulture market are much more globalized.
    Thus, the threat of the new entrants is moderate.
  • Threat of Substitutes: The demand for vertical farming is steadily increasing in African and Middle East countries.
    Therefore, the threat of substitutes is moderate. 
  • Competitive Rivalry in the Market: The ventures operating in the global greenhouse horticulture are opting for various businesses deployment strategies to hold their position in the market. Several companies are launching their value-added services in the international market and strengthening the footprint worldwide.
    Therefore, competitive rivalry in the market is high. 
     
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