Greenhouse Produce Market - Forecast(2021 - 2026)

 Greenhouse Produce Market Overview:

According to the findings by the Environmental Protection Agency (EPA), the net greenhouse emissions in 1990 were 5573.3 MMT CO2¬ Eq. and 5,758.9 MMT CO2 Eq. in 2017 from which the emissions allocated to the agriculture sector was 534.9 MMT CO2 Eq. in 1990 and 582.2 MMT CO2 Eq. in 2017. The rise in greenhouse emissions due to agriculture is aiding to the threat called global warming, and so, the greenhouse produce has become imperative. The greenhouse produce is already gaining grounds worldwide, and a gamut of environmental concerns are leading to increasing implementation of the same which is enhancing the size of the greenhouse produce market that was valued to be $5.3 billion as of 2018. Furthermore, the demand for the same is projected to observe a healthy compound annual growth rate of 9.10% during the forecast period of 2019 to 2025.

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Owing to the prevalent plantation of fruits and vegetables in the countries of North America such as the US, Mexico, Greenland, and others, the greenhouse produce market is making strides in the region. This is also attributed to the dearth of land in the region which is the main reason the government is also taking initiatives such as greenhouse produce and creating plantation setups in urban regions in order to suffice the demand for fruits and vegetable. Another factor that is attributable to the growing opportunities in North America is the fact that the consumers are driven by quality and variety that is leading to a fairly favorable pricing scenario for the prominent vendors and the blossoming businesses in the greenhouse produce market. North America had the maximum greenhouse produce market share of 40% in 2018.

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Greenhouse Produce Market Outlook:

Greenhouse produce is a plantation in a miniature cold frame where solar radiation passes through walls and is absorbed by the floor. Moreover, greenhouse cultivation also uses carbon dioxide enrichment. Plastics used in greenhouse produce can be polyethylene film, polycarbonate material, or PMMA acrylic glass. Nowadays, vegetables and fruits are produced from greenhouse produce.

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Vegetables are considered as a primary requirement for nutrition in the human body. Furthermore, the future foresees an augmented demand for vegetables due to a lot of people converting into vegans. These people will predominantly rely on vegetables for nutritional needs. Moreover, there is a discernible trend of import and export of frozen vegetables which is further flourishing the greenhouse produce market. The vegetable application segment of the greenhouse produce is projected to grow with a notable CAGR of 8.70% through to 2025

Greenhouse Produce Market Growth Drivers:

·         The Shortage of Land in the Agriculture Industry –

In 2016, the World Bank had assessed the agricultural land to 37.431% of the total land area. The Population Reference Bureau has estimated that around 9.6 billion people are living in the world today, and the figure is going to catapult to 9.9 by 2050. The percentage of agricultural land as documented by the World Bank may not be adequate to suffice the demand emerging from the population outflow. In a world where hunger is a primary concern, the shortage of land in the agriculture industry can prove to be a fatal phenomenon. In order to alleviate this situation, governments and a lot of investors are taking initiatives such as greenhouse produce in which the land in the urban areas can be used for plantation. The boom in the greenhouse market is envisioned to fulfill the sustainable goals by the United Nations (UN) in which eradicating hunger issues has been attributed as one of the most important objectives.

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