Press release
Greenhouse Film Market to Grow at a CAGR of 10.4% during Forecast Period 2021-2031
Greenhouse Film
Ornamental plants are increasingly used for interior decoration of both residential and commercial spaces. These plants are cultivated for decoration of gardens as well as landscape design projects. Firms in the greenhouse film market are expanding their production capacities in order to meet the demand for various ornamental species, including shrubs, trees, annual plants, and even aquatic plants. Common ornamental plants cultivated in greenhouses include Caladiums, Impatiens, Salvia, Poinsettias, Ferns, Gazanias, Chrysanthemums, and Petunias.
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In the U.S, demand for plants and flowers has been increasing exponentially and the market was valued at US$ 15.23 Bn in 2020. It is expected to grow rapidly in the coming years. Additionally, in 2020, the global gardening business exceeded the US$ 100 Bn mark. This presents lucrative business opportunities for players in the greenhouse film market.
According to the specification standard laid down by the United States Department of Agriculture (USDA), organic farm produce sold in the US are labelled as "certified organic." Worldwide, organic farming takes up approximately 71.5 million hectares of land. With sales reaching € 40.6 Bn, the US food sector led the market in terms of global revenue. The U.S. greenhouse film market is being flooded by products that are certified organic.
Global Greenhouse Film Market: Growth Drivers
Increase in practice of cultivating greenhouse crops is driving demand for greenhouses. This is anticipated to drive business opportunities in the greenhouse film industry. Furthermore, farmers are also growing crops outside the normal cultivation season. Cucumber, basil, lettuce, and tomatoes are some "out-of-season crops," which can be cultivated outside only during a particular time of the year. The commercial value of some of these crops is very high.
Increase in global population has led to a rise in demand for agricultural and food products. Modern technical advancements in greenhouses aid in enhancing agricultural product output. The Food and Agricultural Organization (FAO) estimates that food production must increase by nearly 50% in order to feed the world's expanding population by 2050. As such, it is predicted that rise in global food demand would boost industry growth between 2021 and 2031.
Global Greenhouse Film Market: Regional Landscape
In 2020, global greenhouse film sales were led by Asia Pacific. It is anticipated that the region would continue to dominate the global industry from 2021 to 2031. Asia Pacific held a sizable market share in 2020 with increase in awareness about various greenhouse films and how to utilize them in response to shifting climatic conditions.
The greenhouse film market in Europe is anticipated to grow at a rapid pace in the near future. Farmers in Europe are working to grow high-yielding crops on limited arable land to feed the ever-growing population. In such a scenario, greenhouses using greenhouse films are primarily used to cultivate vegetables. The greenhouses offer an optimal setting and environment for producing large crop yields, which is expected to drive business growth in Europe.
Global Greenhouse Film Market: Key Players
Some of the key market players in the global greenhouse film market include:
The Dow Chemical Company
Vis and Son Company Ltd.
Iris Polymers Industries Pvt Ltd.
FVG Folien-Vertriebs GmbH
PLASTIKA KRITIS S.A.
Sichuan Bozong Greenhouse Co., Ltd
Saudi Basic Industries Corporation
Global Greenhouse Film Market: Segmentation
Resin Type
HDPE
LLDPE
LDPE
mLLDPE
Recycled
Width
Less Than or Equal to 12 m
Greater Than 12 m
Application
Vegetable
Fruit
Flower
Others
Functionality
Diffused GHF
Photo-selective GHF
Anti-dirt GHF
Others
Regions
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
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