Greenhouse produce products such as tomatoes, cucumbers, peppers and lettuce are grown inside structures known as greenhouses where environmental conditions like temperature and humidity can be controlled. This provides an alternative for farmers to grow crops all year round regardless of seasonality. With year-round production, greenhouse farming ensures a steady supply of fresh produce in the market and is an efficient use of resources.

The global Greenhouse Produce Market is estimated to be valued at US$ 28 Bn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The opportunity of increasing agricultural production to meet the growing global food demand acts as a key driver for the greenhouse produce market. With the rising population worldwide, the demand for food is projected to increase substantially over the next few decades. However, factors like urbanization and climate change are limiting the availability of cultivable land. Greenhouse farming allows higher crop yields per unit area as various environmental conditions can be controlled. This makes greenhouse farming an effective way to boost agricultural production from existing land resources and fulfill the food requirements of the growing population. The controlled temperature and humidity in greenhouse structures help maximize crop and harvest cycles throughout the year. This market opportunity of addressing global food security with higher and consistent agricultural outputs will continue to spur the demand for greenhouse produce in the coming years.

Porter's Analysis

Threat of new entrants: Low barriers to entry for greenhouse farming but established players have economies of scale and brand loyalty.

Bargaining power of buyers: Large retailers have significant bargaining power over greenhouse farmers due to supply consolidation.

Bargaining power of suppliers: Greenhouse equipment and material suppliers have moderate power due to lack of substitutes and switching costs for farmers.

Threat of new substitutes: Threat is low as open-field farming is seasonal and outdoor crops face adverse climate changes.

Competitive rivalry: Intense competition among greenhouse farmers to supply quality produce on-time to retailers throughout the year.

SWOT Analysis

Strength: Greenhouse cultivation allows year-round production and protection from weather variability. Controlled environment boosts yields.

Weakness: High initial investment and operating costs of greenhouse infrastructure. Dependence on fossil fuels and agrochemicals raises sustainability concerns.

Opportunity: Growing health-conscious population drives demand for pesticide-free greenhouse fruits and vegetables. Adoption of renewable energy and automation solutions can lower costs.

Threats: Volatile fuel and raw material prices pose major risks. stricter environmental regulations increase compliance burden.

Key Takeaways

The Global Greenhouse Produce Market Growth is expected to witness high in developing regions of Asia Pacific and Latin America during the forecast period of 2023 to 2030. The market size for 2024is projected to reach US$ 28 Bn indicating a CAGR of 4.7% over the outlook timeframe.

Regional analysis comprises- Greenhouse farming is fast gaining popularity in India and China. Supportive government policies and low labor costs make South Asian countries lucrative for farming produce under controlled conditions. In Latin America, Brazil and Mexico are emerging as major producers with their strategic geographical locations and trade agreements.

Key players operating in the Greenhouse Produce market are Fabory, Fastenal Company, Würth 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 industry is fragmented in nature with local and domestic players accounting for major shares. Collaboration with large retailers is a key strategy of leading greenhouse operators.

Explore more information on this topic, Please visit - 

https://www.ukwebwire.com/greenhouse-produce-market-forecasts-and-share-analysis/ 

Explore more trending article related this topic - 

https://www.ukwebwire.com/vertical-farming-market-future-prospects-and-forecast-analysis/