Westford, USA, Dec. 10, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that greenhouse market size will attain the value of USD 59.64 Billion by 2031, with a CAGR of 9.9% during the forecast period (2024-2031). The rapidly increasing global population and the emphasis on providing food for their nutritional needs are expected to create new business opportunities for greenhouse suppliers. Growing emphasis of countries and governments to improve food security amid rising issues of food supply shortages is also expected to bolster the demand for greenhouses over the coming years. Advances in greenhouse technologies and increasing awareness of its benefits are also expected to fuel the market growth in the future. Growing climate change issues and ongoing weather unpredictability are expected to drive adoption of greenhouse gases by 2031.
The global greenhouse market is experiencing significant growth, driven by rising demand for sustainable agriculture and food security. North America and Europe are leading the market due to advanced technologies and increasing adoption of controlled-environment agriculture. In Asia-Pacific, countries like China and Japan are expanding greenhouse cultivation due to limited arable land and climate challenges. The Middle East and Africa are also adopting greenhouse farming, leveraging arid regions for efficient food production. Latin America, particularly Mexico, is seeing growth due to favorable climatic conditions and increased export opportunities. The market is influenced by automation, energy-efficient systems, and increasing consumer preference for organic produce.
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Greenhouse Market Overview:
Report Coverage Details Market Revenue in 2023 USD 28.02 Billion Estimated Value by 2031 USD 59.64 Billion Growth Rate Poised to grow at a CAGR of 9.9% Forecast Period 2024-2031 Forecast Units Value (USD Billion) Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends Segments Covered Type, Offering, Crop Type, End User and Region Geographies Covered North America, Europe, Asia Pacific, Middle East & Africa, Latin AmericaReport Highlights Significant Investments in Greenhouse Infrastructure Key Market Opportunities Integration of Smart Technologies and IoT in Greenhouse Farming Key Market Drivers Rising Demand for Sustainable Agricultural Practices
Plastic Greenhouse Segment to Dominate Due to Longer Durability
As per the greenhouse market outlook, plastic greenhouse is expected to account for the largest share in the future. The cost-effectiveness of thermoplastics makes them popular worldwide. Longer durability, better light transmission and easier extension of growing season are some other advantages of plastic greenhouses that reinforce the dominance of this segment. High adoption of plastic greenhouses in developing and underdeveloped economies is also expected to boost revenue generation for greenhouse companies focusing on this segment.
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Flowers and Ornaments Segment is Growing Due to Good Protection Against Pests and Plant Diseases
On the other hand, the popularity of flowers and ornaments segment in home greenhouses is predicted to increase rapidly during the forecast period. Good protection against pests and plant diseases and controlled environmental conditions to maintain optimal growing conditions contribute to the high yield of flowers and ornamental products in home greenhouses. Furthermore, rising demand for flowers in multiple commercial applications is also expected to encourage more greenhouse farmers to invest in this segment and drive market development in the future.
Asia-Pacific is Growing Due to Greater Acceptance of Precision Agricultural Practices
As per the greenhouse market analysis, the demand for greenhouses in the Asia-Pacific region is expected to grow at an impressive pace during the forecast period. Greater acceptance of precision agricultural practices, greater emphasis on sustainability and increased awareness regarding benefits of greenhouse farming are expected to drive up the sales of greenhouses in this region. Subsidies and government policies to help encourage the use of greenhouses are expected to create new business scope for greenhouse providers.
Greenhouse Market Insight
Drivers
Rising Demand for Sustainable Agricultural Practices Advancements in Greenhouse Technologies Increasing Adoption of Controlled Environment Agriculture (CEA)
Restraints
High Initial Investment and Operational Costs Dependence on Skilled Labor for Maintenance and Operation Challenges Due to Climate Variability and Natural Disasters
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Prominent Players in Greenhouse Market
SotrafaBerry GlobalNETAFIMCerthonRichel Group SAStuppy GreenhouseLogiqs B.V.Argus Control Systems Ltd.Poly-Tex, Inc.The Glasshouse CompanyLuiten Greenhouses BVAgra Tech, Inc.
Key Questions Answered in Greenhouse Market Report
Who are the key players in the market? Which is the dominating region in the market? What are the key restraints of the market? Which is the growing region in the market?
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This report provides the following insights:
Analysis of key drivers (rising demand for sustainable agricultural practices), restraints (high initial investment and operational costs), opportunities (integration of smart technologies and IoT in greenhouse farming) influencing the growth of greenhouse market.
Market Dynamics: Comprehensive information about the various products offered by the dominant players in the greenhouse market. Product Development/Innovation: An overview of emerging trends, R&D activities and product launches in the greenhouse market. Market Growth: Detailed information on profitable growing industries. Market Trends: Complete information about new products, emerging geographical areas and recent developments in the market. Competitive Analysis: An in-depth analysis of the market segments, growth strategies, revenue analysis, and products of the key market players.
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