PUBLISHER: The Business Research Company | PRODUCT CODE: 1426201
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426201
Food crops grown under cover encompass crops cultivated within structures like greenhouses or under protective covers like tunnels. Agricultural practices like crop rotation, no-till methods, and organic farming significantly support and enhance this technique.
The primary categories of food crops grown under cover include fruits and vegetables, herbs and microgreens, flowers and ornamentals, along with other varieties. Fruits and vegetables constitute essential components of a nutritious diet. Various growing systems for these crops include hydroponics, aeroponics, aquaponics, soil-based cultivation, and hybrid methods. The two main components crucial for this cultivation are the hardware (physical structures and equipment) and software (management practices and techniques). Several types of facilities are employed for growing food crops under cover, including glass or poly greenhouses, indoor vertical farms, container farms, indoor deep-water culture systems, and other specialized facility types designed for controlled cultivation.
The food crops grown under cover market research report is one of a series of new reports from The Business Research Company that provides food crops grown under cover market statistics, including food crops grown under cover industry global market size, regional shares, competitors with a food crops grown under cover market share, detailed food crops grown under cover market segments, market trends and opportunities, and any further data you may need to thrive in the food crops grown under cover industry. This food crops grown under cover market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The food crops grown under cover market size has grown rapidly in recent years. It will grow from $57.36 billion in 2023 to $64.28 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The expansion observed in the historical period can be attributed to various factors such as extended growing seasons facilitated by controlled environments, protection from pests and diseases due to sheltered cultivation, climate control mechanisms, efficient water conservation methods, the emergence of urban agriculture practices, and the promotion of crop diversification within covered cultivation systems.
The food crops grown under cover market size is expected to see rapidly grown in the next few years. It will grow to $100.15 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%. Anticipated growth in the forecast period is expected to be driven by factors including global population growth, efforts to mitigate the impacts of climate change, the expansion of vertical farming practices, a growing emphasis on organic and sustainable farming methods, consumer preferences favoring locally sourced produce, and the adoption of efficient resource management practices.
The escalating demand for organic food stands as a catalyst propelling the growth of the food crops cultivated under cover market. The rising awareness of the benefits associated with organic products has fueled the surge in demand for food grown and processed without synthetic pesticides, fertilizers, or GMOs. Notably, figures from the Organic Trade Association in June 2022 indicated a 4.5% increase in sales of organic fruits and vegetables, amounting to $21 billion in revenue and constituting 15% of the total product market in the US in 2021. This mounting demand for organic food significantly drives the expansion of the market for crops grown under cover.
Anticipated growth in the market for food crops grown under cover is further propelled by the increasing prevalence of pest infestations. Controlled environments like greenhouses and indoor farms offer conditions conducive to effective pest management, minimizing the reliance on chemical pesticides. Such practices not only shield crops from external pest sources but also ensure year-round production, bolster crop quality, and support the cultivation of high-value crops. Reports from the Food and Agriculture Organization in June 2021 highlighted that pests cause up to a 40% annual loss in global crop production. The economic toll from plant diseases exceeds $220 billion annually, with invasive insects leading to around $70 billion in losses each year. Consequently, the surging incidents of pest outbreaks drive the growth of the market for crops grown under cover.
Innovative crop production techniques emerge as a pivotal trend shaping the food crops cultivated under cover market, with major industry players introducing novel approaches like greenhouses, vertical farming, and hydroponic farming. For instance, NASA launched in November 2021 an innovative indoor farming technique amalgamating plant science and environmental control methods to optimize crop growth within enclosed spaces. This pioneering controlled environment agriculture (CEA) technology lays the groundwork for the industry's advancements.
Major players in the food crops cultivated under cover market are leveraging new vertical farming facilities to secure competitive advantages. Vertical farming, involving vertically stacked layers or inclined surfaces for crop cultivation, especially in controlled indoor environments, has gained prominence. For instance, in February 2022, a concept was unveiled to completion package for fully automated indoor growing facilities. These modular vertical farming facilities, starting at 5,500 sqm, offer investors and retailers control over supplies and consistent conditions for crops like lettuce and rocket. Partnering with automated warehousing specialist SEC Group ensures automation and scalability, providing a turnkey solution encompassing indoor growing, climate control, engineering, and energy provision for large-scale commercial use.
In April 2022, Local Bounti Corporation, a prominent US-based indoor agriculture entity, completed the acquisition of Hollandia Produce Group, Inc. for $122.5 million. This strategic move is aimed at bolstering margin expansion for Local Bounti Corporation by integrating its proprietary Stack and Flow Technology into Pete's facilities. This acquisition positions Local Bounti Corporation to leverage operational synergies while fortifying its presence in the indoor farming sector. Hollandia Produce Inc., known as Pete's, specializes in cultivating and distributing top-quality greenhouse-grown produce, encompassing a range of products such as tomatoes, cucumbers, and bell peppers. The acquisition aligns with Local Bounti Corporation's strategic vision for growth and innovation within the indoor agriculture landscape.
Major companies operating in the food crops grown under cover market report are Argus Control Systems Ltd., LumiGrow Inc., Netafim Ltd., Richel Group, General Hydroponics, Crop One Holdings Inc., Metropolis Farms Inc., Bright Farms Inc., Bowery Farming Inc., Certhon Group, Vertical Farm Systems, Hydrodynamics International, Illumitex Inc., Garden Fresh Farms, Green Sense Farms LLC, Sky Greens Pte Ltd., AeroFarms Inc., Plenty Unlimited Inc., Gotham Greens LLC, AppHarvest Inc., Kalera Inc., Revol Greens LLC, Eden Green Technologies Pvt. Ltd., Infinite Harvest Inc., Fifth Season Gardening Company, Little Leaf Farms LLC, FreshBox Farms Inc., Local Roots Farms Inc., Bright Agrotech LLC, Urban Crop Solutions, Green Spirit Farms LLC, Modular Farms Co, PLENTY Canada Inc., Square Roots (Electric) Inc., Vertical Harvest Jackson Hole LLC, ZipGrow Inc. .
North America was the largest region in the food crops grown under cover market in 2023. Asia-Pacific is expected to be the fastest-growing region in the food crops grown under cover market report during the forecast period. The regions covered in the food crops grown under cover market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the food crops grown under cover market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The food crops grown under cover market consist of sales of food crops grown under protection such as fruits and vegetables in greenhouses and hoop houses, as well as transplants for commercial vegetable production. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Food Crops Grown Under Cover Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on food crops grown under cover market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for food crops grown under cover? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The food crops grown under cover market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
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