Latin America Commercial Greenhouse Market was worth $ 5.02 billion in 2021 and estimated to be growing at a CAGR of 6.53%, to reach $ 8.15 billion by 2026.
Growing of crops in a controlled environment for commercial purpose in a greenhouse is called as Commercial greenhouse market. All the required arrangements are made in the warehouse, where photosynthesis is performed in the crops giving fresh fruits and vegetables.
Temperature is one of the most important parameters for plant photosynthesis. Due to this, a commercial greenhouse needs to be equipped with technologies for maintaining the ideal temperature required for photosynthesis. Thus, heating systems and cooling systems together constituted nearly 51% of the commercial greenhouse market. Moreover, these systems are more superior to the traditional farming in providing the desired light spectrum at all stages of plant growth, are energy-efficient, and offer longer operating life. These features help to adopt LED grow lights.
Drivers and Restraints of Latin America Commercial Greenhouse Market:
Unfavourable weather conditions for traditional agriculture, demand for the rooftop farming, rising population, increasing demand for the fresh fruits and vegetables, urbanisation and also demand for the flowers and ornamentals, higher yield than traditional agriculture is some of the drivers for this market. High investment for the inventory, lack of skilled professionals and less government funds are some of the restraints for this market.
Latin America Commercial Greenhouse Market - By Equipment:
Latin America Commercial Greenhouse Market - By Type:
Latin America Commercial Greenhouse Market - By Crop:
Latin America market region contains countries such as Brazil, Argentina, Mexico and remaining countries of South America. The huge rise in spending in the commercial houseware division has increased the demand for this market. Brazil is one of the largest markets in this region followed by Mexico, Argentina, and Columbia, which are also intensifying their investments in the houseware market. Latin America has a share of 12% of the global commercial greenhouse market. The Latin America market has been increasing with a CAGR of 6.53%.
The top players in the market include Richel Group SA (France), Certhon (U.S.), Argus Control Systems Ltd. (U.S), Logiqs (The Netherlands), Lumigrow (U.S.), Keder Greenhouse (UK), Agra Tech, Inc (U.S.), Hort Americas, LLC (U.S.), Rough Brothers Inc. (U.S.), and Heliospectra AB (Sweden). Most of these companies have been exploring new regions through agreements & contracts across the world, to give a competitive advantage through combined synergies. LumiGrow is the one of the important company in making business in the commercial greenhouse market. It increases its customers with partnership agreement and contracts.
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