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India Greenhouse Horticulture Market Size to Hit USD 271.25 Million by 2030 – Astute Analytica

CHICAGO, UNITED STATES, November 23, 2022 /EINPresswire.com/ -- India Greenhouse Horticulture Market revenue was US$ 190.84 Mn in 2021 and the market is forecast to reach US$ 271.25 Mn by 2030, growing at a CAGR of 4.19% during the forecast period from 2022 to 2030. On the basis of volume, the market is growing at a CAGR of 3.37% from 2022 to 2030.

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Greenhouse horticulture is also term as protected cropping since it offers plants a personalized development environment. In addition to modifying environmental factors, including light, temperature, humidity, and carbon dioxide (CO2) emissions, greenhouses can shield crops from harmful weather conditions, pests, and diseases. Additionally, in order to keep a slightly warmer temperature inside than outside, the interiors are also built using a variety of materials, including glass, polyvinyl chloride, hard acrylic plastic, and polycarbonate. The frequently grown crops in greenhouses include peppers, cucumbers, capsicums, dutch roses, tomatoes, lettuce, herbs, and strawberries are frequently grown.

Factors Affecting Market Growth

The growing population in the country leads to rising food consumption, and horticultural entrepreneurship boosts the India greenhouse horticulture market. Indian population growth is drastically increasing the strain on the country's limited water and land resources. As per World Bank, the population of India was 1,366.4 million in 2019 and 1,380 million in 2020. Thus, the rising demand for food has increased the adoption of greenhouse horticulture owing to the growing population, which is further driving market growth.

The Department of Agriculture & Cooperation, Ministry of Agriculture, and Government of India have also established several types of aid for the development of agriculture in the region. Under the auspices of the National Health Mission (NHM), the Mission for Integrated Development of Horticulture, and the Horticulture Mission for Northeast and Himalayan States (HMNEH) subsidy program encourages farmers to make investments in greenhouse technology that will improve their prospects for financial success. Thus, the growing government initiatives to promote greenhouse horticulture will drive market growth in the region in the future.

The India greenhouse horticulture market is likely to experience profitable growth opportunities due to the increasing usage of technology in the horticulture sector. Improved cover materials, LED lighting, alternative nutrition supplies, and sensors are further unique technical advancements that are intended to increase digitalized, programmed, and greenhouse horticultural output. However, the increased maintenance expense in greenhouse cultivation may slow down the growth of the industry.

Impact of COVID-19

The abrupt COVID-19 pandemic caused the implementation of strict lockdown laws in a number of nations, which temporarily halted a great deal of agricultural activity and constrained overall expansion in the greenhouse horticulture industry.

The COVID-19 virus has altered and damaged the standard food supply system. Food shortages in grocery stores have been brought on by quarantine procedures and restrictions that have delayed the delivery of agricultural inputs, eliminated seasonal workers, prevented crops from being harvested, accumulated products, and disrupted the distribution chain. Because of this, problems along the food supply chain disturbance caused a disruption in the regular flow of goods and services from the point of primary production to the point of final consumption.

During the COVID-19 outbreak, there was a decline in demand for cut flowers, trees, ornamental plants, and bulbs, signifying that the sanitary condition had an impact on the horticulture industry. In addition, the limitations on cargo movement and foreign flights had a negative impact on supply chain logistics. Additionally, horticultural production chains should check the validity of implementing urban and peri-urban production regions in a sanitary strategy plan.

Segmentation Overview

In 2021, on the basis of covering material, the plastics segment acquired a market share of 40% since plastics are easily available in the market at an affordable price compared to other covering materials. On the other hand, the polycarbonate segment will grow at a CAGR of 5.65% in the market throughout the forecast years due to its gradually increasing demand owing to rising awareness concerning its advantages compared to other materials.

In 2021, on the basis of crop type, the vegetable segment had a leading position in the India greenhouse horticulture market due to the rising production of vegetables via greenhouse horticulture, increasing population, and a surge in demand for food.

In 2021, based on greenhouse type, the detached greenhouse segment held a significant share in the India greenhouse horticulture industry due to its features such as expandability and flexibility. In addition, the most popular type of detached greenhouse utilized for commercial production is a Quonset. On the other hand, the ridge and furrow greenhouses segment will grow at the highest growth rate over the coming years since they offer large production spaces compared to other types of greenhouses.

In 2021, on the basis of technology, the medium tech segment dominated the India greenhouse horticulture market share and is likely to grow at a CAGR of 4.24% over the analysis period. This is due to the rising several technical progress in this segment by market participants. On the other hand, the high-tech segment will exhibit the highest growth rate from 2022 to 2030.

In 2021, on the basis of application, the food products segment accounted for a market share of 80% owing to the increased demand for food in India by working professionals and young generations boosting the segment growth in the market. However, the ornamental segment will experience the highest annual growth rate from 2022 to 2030.

Browse Detailed Summary of Research Report: https://www.astuteanalytica.com/industry-report/india-greenhouse-horticulture-market

Companies Landscape

The prominent competitors profiled in the India greenhouse horticulture market are:
Cargill India Pvt Ltd
Corteva Agriscience India Pvt Ltd
Ebro India Pvt Ltd
East West Seed India Pvt Ltd
EI Dupont India Pvt Ltd
Goodricke Group Ltd.
Godrej Agrovet Ltd
Tata Coffee Ltd.
Tropical Agrosystem India (P) Ltd.
Keventer Agro Ltd.
Kaveri Seed Co Ltd
Raghuvansh Agrofarms Ltd
UPL Ltd.
Vanashree Agriculture Private Limited
Other Prominent Players

Segmentation Outline

The India greenhouse horticulture market segmentation focuses on Covering Material, Crop Type, Greenhouse Type, Technology, and Application.

By Covering Material Segment
Plastic
Glass
Polyethylene (PE) film
Polycarbonate
Acrylic
Others

By Crop Type Segment
Fruits
Vegetables
o Root Crops
o Leafy Greens
o Fruits Crops
Flowers and Ornamentals
Nursery Crops
Others

By Greenhouse Type Segment
Lean-to greenhouse
Detached greenhouse
Ridge and furrow greenhouses

By Technology Segment
Low cost
Medium Tech
High Tech

By Application Segment
Food products
Ornamental
Medicinal ingredients
Others

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About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

Aamir Beg
Astute Analytica
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