Commercial Greenhouse Market worth $61.6 billion by 2027 - Exclusive Report by MarketsandMarkets™

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Aug 24, 2022, 05:30 ET

CHICAGO, Aug. 24, 2022 /PRNewswire/ -- The Commercial Greenhouse Market is estimated to be valued at USD 35.5 billion in 2022. It is projected to reach USD 61.6 billion by 2027, recording a CAGR of 11.6% from 2022 to 2027, according to a new report by MarketsandMarkets™. The global commercial greenhouse market has been influenced by some of the macroeconomic and microeconomic factors witnessed in some key countries. This would prove strong enough to drive the market significantly in terms of value sales during the forecast period. With the decrease in per capita arable land and rise in demand and preference for fruits and vegetables in developing countries, the trend of investing in R&D activities to improve greenhouse farming techniques has significantly boosted the use of commercial greenhouses in the agriculture industry. Greenhouse farming addresses the concern of limited space, as certain plants can be grown in smaller areas.

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Certhon offers a wide range of greenhouse structures and solutions in agriculture and commercial greenhouse sectors in the European market.

The evolution of Controlled Environment Agriculture (CEA) and commercial greenhouses took place in Europe due to the favourable climate for adoption of greenhouse automation technologies and encouragement from governments. Many Europe-based companies have invested significantly in researching greenhouse automation, including climate control, lighting, and material handling, among other areas. As a result of the all-round development in CEA, Europe has become a major market for commercial greenhouse technologies. In 2021, Europe had a commercial greenhouse market worth USD 12,654.1 million, and it is expected to grow further at a CAGR of 11.3% from 2022 to 2027. Established companies such as Certhon (Netherlands), Logiqs B.V. (Netherlands), Heliospectra AB (Sweden) are expected to play an important role in fuelling the development of commercial greenhouse technologies in Europe in the coming years.

The Software and Services market is a relatively untapped and small market in comparison to other equipment segments.

Software plays an important role in farm management solutions that find applications in greenhouse farming. Software and information technology tools are increasingly being adopted by agriculturists and farmers. The software can be used for different functions such as data management, data security, crop health monitoring, farm work mapping, and stock management. Increasing scope for automation and smart farming to create growth opportunities for the market. Farm management software solutions are expected to replace outdated and time-consuming paperwork. Major companies that provide greenhouse software solutions and services are Argus Control Systems (US), Certhon (Netherlands), and Logiqs B.V (Netherlands).

Durability, low of cost of production and UV resistance properties of Polycarbonate films drive the demand

Polycarbonate is the ideal plastic for greenhouses because it filters UV rays while allowing heat and sunlight to pass through. Light transmittance for this kind of material is around 88%. There are various grades of polycarbonate such as high heat polycarbonate, impact modified polycarbonate, and optical grades. Polycarbonate made from new raw materials as opposed to recycled materials has a longer life. UV (Ultraviolet) treated polycarbonate provides better clarity than polyethylene film and nearly as much clarity as glass. It is also significantly stronger and more durable, making it a practical and increasingly popular and low maintenance choice for greenhouse growers. The average durability of polycarbonate lasts for around 50 years. While polycarbonate comes in transparent and opaque colours, it cannot be polished to regain its clarity. The flame and UV resistant properties of polycarbonate films, and the low cost to produce and buy them, drive the demand for this market.

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North America is projected to reach USD 19.69 Billion during the forecast period.

In 2021, North America accounted for a market share of 30.80% in the global commercial greenhouse market. The North American commercial greenhouse market is completely driven by the US market. The US Government is promoting the use of degradable films in agriculture. The United Soybean Board (USB) New Uses Committee has been providing funding support for the development of soy-based biodegradable films.

In the last decade, commercial greenhouse growers in North America gradually began switching to automation technologies to enable plant growth throughout the year. Commercial greenhouse technologies are becoming increasingly popular in urban areas to facilitate supply of fresh vegetables to grocery stores. Rooftop farms—such as New York-based Gotham Greens (US)—are emerging as a new trend in urban commercial greenhouses in North America.

The key players in this market include Berry Global (US), Hort Americas (US), LumiGrow (US).

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