Canada's commercial greenhouse market is expected to grow at a CAGR of 3.71% over the forecast period to reach a market valuation of US$8.656 million in 2024. Burgeoning demand for fruits and vegetables grown in a controlled environment is driving the Canada Commercial Greenhouse market growth. There is a rising demand for greenhouse vegetables owing to rising awareness about the goodness and benefits of organically grown food. Increasing demand for crops being produced indoors that are difficult to grow conventionally is also driving the demand for commercial greenhouses in Canada. Due to expanding urbanization with land covered with condo towers and shopping malls, it has become increasingly difficult for food banks in Canada to source fresh food for people who live below the poverty line. Keeping this in mind, in November 2016, the Mississauga Food Bank opened Canada’s first food bank aquaponic farm to produce enough fresh produce for its customers. Although this form of urban farming is already used in countries like the U.S., many are focusing on setting up aquaponics farms as educational centers for local children to learn about sustainable food production. Since aquaponic farming requires greenhouses, the growing Canadian aquaponics industry is positively impacting the demand for commercial greenhouses.
DRIVERS
Rising demand for greenhouse vegetables
Growing cannabis production
INDUSTRY UPDATE
In August 2018, Lively-based company Greenhouses Canada launched its cannabis division.
Market Segmentation:
Canada's commercial greenhouse market has been analyzed through the following segments:
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