Commercial Greenhouse MarketSize and Trends

The global commercial greenhouses market size was valued at US$ 42.36 Billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 6.2% from 2023 to 2030. The global commercial greenhouse market is growing at a significant rate due to rapid urbanization, increasing adoption of modern farming techniques, rising population leading to high demand for fruits and vegetables, and decreasing arable land forcing farmers which is increasing indoor agricultural practices including commercial greenhouses. Furthermore, government interventions such as export subsidies, tariffs or import levies and direct payments to growers are also augmenting growth of the market. Moreover, growing inclination of consumers towards organic food products is creating lucrative opportunities for the commercial greenhouses industry.

Global Commercial Greenhouse Market Trends:

Increasing focus of key players on business expansion

Key players are highly focused on expanding their business presence and this trend is expected to be continue in near future as well. For instance, in November 2018, Lumigrow Inc. expanded its business to Europe at GreenTech Amsterdam with the debut of its newest fixture, the LumiGrow TopLight, to bring its smart horticultural experience to European consumers.

Growing investment in the market

By considering the potential in commercial greenhouse cultivation, investors are investing heavily in the start-ups. For instance, in September 2020, US based greenhouse grower Revol Greens, raised USD 68 Billion funding in 2020, to open a lettuce greenhouse plant in Texas, which will be the largest in the world with 20 acres and the ability to expand to 80 acres in total.