Greenhouse Film Market Trends

Growth Drivers

• Swelling of Population Owing to Increasing Fertility Rates – The burgeoning of the population leads to increased demand for food, which exerts pressure on agricultural productivity. Further, this sharp rise in demand for agricultural products can be achieved by controlling agriculture and adopting technologies such as greenhouses. This adoption trend is anticipated to increase the sales of greenhouse films in the upcoming years. The United Nations suggests that the world population is projected to reach almost 9.8 billion in 2050 and 11.2 billion in 2100.
• Rise in Production of Food Grains to Meet the Food Needs– The production of food grains in India rose by almost 6 million tons in the years 2021-22 to 320 million tons. The boom in the population is directly proportional to the increase in the production of food items. Thus, the improved quality of agricultural produce, high productivity, and efficient pest control is estimated to bolster the demand for greenhouse films in the construction of greenhouses to satisfy the food requirements of the population.
• Boom in the Agricultural Industry with Rising Initiatives by Government – According to the United States Department of Agriculture, in the United States, the revenue garnered by agriculture, food, and related industries was almost USD 1.060 trillion in the year 2020.
• Presence of Farm Fields Across the Globe Owned by Milliners – In 2020, the total number of farms present worldwide was estimated to be approximately 650 million.
• Rising Areas Under Protected Horticulture Cultivation as Livelihood to Improve Economy – The protected cultivation crops are highly profitable with rose and capsicum comprising more than 280% cultivation cost, over 200% gross return, and greater than 180% net return.

Challenges

• Lack of Awareness of the Benefits of Greenhouses
• Very few people are aware of the benefits of greenhouse farming and the government should take initiatives to rise this awareness and protect the environment from global warming. The authorities of institutions should also improve education about greenhouses, and improve greenhouses in the surroundings to inspire others. Greenhouses are only limited to commercial or independent villas or housing spaces which hinders market growth.
• Additional Investments During the Process
• Increased Labor Costs in Building and Maintaining Greenhouses