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Greenhouse Produce Market Anticipated To Witness High Growth Owing to Increasing Demand For Organic Fruits And Vegetables

Niranjan Mardakar
Greenhouse Produce Market Anticipated To Witness High Growth Owing to Increasing Demand For Organic Fruits And Vegetables

The greenhouse produce market involves products which are grown under partially or fully controlled environments such as greenhouses. Greenhouse cultivation allows fruits and vegetables to be grown year-round irrespective of seasonal variations and is optimized to enhance plant growth, nutritional value, and yield. Factors such as rising focus on organic food, avoidance of chemical pesticides and fertilizers, nutritional benefits of greenhouse produce are driving the adoption of greenhouse farming techniques across various regions.

The global greenhouse produce market is estimated to be valued at US$ 32.26 Mn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the greenhouse produce market are Fabory, Fastenal Company, WÃ1⁄4rth Industrie Service GmbH & Co. KG, REYHER, KELLER & KALMBACH GmbH, AB STEEL, Brunner Manufacturing Co., Inc. KD FASTENERS, INC., ckford Fastener, Inc., AMARDEEP STEEL, Viha Steel & Forging. The key players are focusing on expanding their production facilities and product portfolio to cater to the rising demand. For instance, in 2022, Fabory opened a new greenhouse facility in Netherlands to double its production capacity.

The key opportunities in the Global Greenhouse Produce Market Size include growing adoption in developing countries and introduction of advanced greenhouse technologies. Emerging economies in Asia Pacific and Latin America are witnessing rising urbanization and disposable income which is increasing the demand for organic and nutritious foods. This provides an opportunity for greenhouse produce manufacturers to expand in these untapped markets.

In terms of global expansion, leading players are focusing on strategic partnerships and acquisitions to strengthen their presence across international markets. For example, in 2021, WÃ1⁄4rth Industrie Service GmbH & Co. KG acquired a majority stake in Brazilian fastener manufacturer Cia Hering de Apoio with an aim to expand in Latin America.

Market Drivers

Increasing health awareness: Consumers are increasingly preferring organic fruits and vegetables owing to rising awareness about toxic pesticide residues and their ill-effects. Greenhouse farming uses natural methods of cultivation which appeals to health-conscious consumers.

Expanding retail landscape: Growth of modern retail formats such as supermarkets and hypermarkets along with e-commerce has increased the availability of greenhouse produce across both rural and urban regions. This wide distribution channel boosts the market growth.

Market Restraints

High initial investment: Setting up of advanced greenhouse facilities requires large capital investments which is a major hurdle especially for small and medium farmers. High setup cost restrains the market from reaching its full potential.

Climate change impacts: Dependence on natural climatic conditions for traditional greenhouse farming increases vulnerabilities. Adverse weather events can damage crops and infrastructure posing production risks. This acts as a challenges for market players.

Segment Analysis

The greenhouse produce market is dominated by the vegetable sub segment. Vegetables like tomatoes, peppers, cucumbers are extensively grown in greenhouses as they benefit greatly from the controlled environmental conditions. Greenhouse cultivation allows vegetables to be grown out of season and suppliers can meet consumer demand throughout the year. Additionally, growing vegetables in greenhouses helps maximize yield per acre as plants can be grown vertically and multi-tiered.

Global Analysis

North America is currently the fastest growing regional market for greenhouse produce. This is due to increasing commercial agriculture and large scale vegetable producers opting for greenhouse cultivation. Countries like the US and Canada have harsh winters making outdoor vegetable farming difficult for many months. Greenhouse farming addresses this challenge and allows year-round vegetable production. Europe currently holds the largest share of the global market. Mature markets like the Netherlands, Spain and Italy have been growing vegetables in greenhouses for many decades now. Advanced greenhouse technologies have significantly boost yields per hectare in these countries. The Asia Pacific region is expected to exhibit strong growth over the forecast period. Rising middle class population with higher disposable incomes is driving the demand for safe and sustainably grown greenhouse vegetables in countries like China and India.

Get More Insights On This Topic: https://www.ukwebwire.com/greenhouse-produce-market-size-share-analysis-2023-2030/

Niranjan Mardakar
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