Horticulture Market

The Global Horticulture Market size was valued at USD 22.42 Billion in 2022 and is likely to reach USD 52.43 Billion by 2031, expanding at a CAGR of 9.9% during 2023–2031. The growth of the market is attributed to the rising acceptance of sustainable horticulture practices and increasing demand for agricultural products to meet the growing needs of the global population.

Horticulture refers to a type of farming practice associated with growing fruits, vegetables, and herbs as well as the production of ornament plants such as turf, flowering plants, and shrubs. These plants and fruits are mainly developed to enhance the beautification of home surroundings such as gardening or lawns and interior decorating with the use of plants. It represents a key share of the agriculture industry and some of the key producers of agricultural crops are China, India, the US, and Russia.

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According to data published by the World Bank Group, horticulture accounted for 30% of agricultural revenue in India in 2019. As of 2019, the US exported the highest volume of farm products, which was worth USD 118.1 billion. Induction of robotic monitoring devices and other advanced technologies to enhance the production of horticultural crops.

The COVID-19 pandemic had affected the global horticulture market due to movement restrictions imposed by emergency lockdowns in a view to preventing the virus from spreading. A sudden disruption in the supply chain, resulted in a delay in getting seeds or other agricultural components to farmers timely. This led to a delay in the overall crop production system. However, the increasing adoption of advanced technologies and techniques to control pests and ensure easy identification of pest infections had opened up several opportunities for market expansion in the coming years.

The implication of high sensor technologies and other advanced technology solutions such as Artificial Intelligence (AI) along with the high penetration of the Internet of Things (IoT) had brought a drastic change in the agricultural sector.

Market Trends, Drivers, Restraints, and Opportunities

• Rising global population and a growing health-conscious population, which led to the surge in demand for organic foods, are key factors driving the market.

• Growing awareness regarding sustainable agricultural practice and increasing adoption of greenhouse horticulture activities are expected to fuel the market in the coming years.

• Favorable government policies, especially in developing countries, offering various agricultural subsidies for farmers present another key driver of the market.

• Frequent change in government regulations regarding the export and import of agricultural products acts as a major challenge for the market expansion.

• Increasing integration of numerous advanced technologies such as IoT in the agricultural sector and comprehensive R&D programs by key players are likely to create several growth opportunities for the market.

Scope of Horticulture Market Report

The report on the global horticulture market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Horticulture Market Segment Insights

Food Plants Segment to Expand at a Rapid Pace

Based on cultivation types, the global horticulture market is bifurcated into ornament plants and food plants.

The ornament plants segment is further segmented into turf, flowers, and others while the food plants segment is sub-divided into nut crop, vegetable, fruits, and others. The food plants segment held a dominant market share in 2021 and is expected to expand at a rapid pace during the forecast period owing to the high consumption of food items such as vegetables and fruits due to the rising global population.

The rising health-conscious population globally leads to the rising demand for organic foods, which is further boosting the segment.

High Popularity of Greenhouse Farming Practices Boosts the Greenhouse Segment

In terms of applications, the market is divided into greenhouse, indoor farms, and vertical farms.  

However, the greenhouse segment accounted for a large market share in 2021 and is anticipated to register a CAGR of 7.1% during the forecast period. The segment growth is attributed to the wide popularity of greenhouse farming practices owing to certain benefits such as high crop yield, wide application of all types of crops, and production of exotic plants.

One key aspect of greenhouse farming is that it can develop a suitable ecosystem and protect from extreme climate conditions for crop production.

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Wide Practice of Vegetative Propagation Among Horticulturists Drives the Vegetative Segment

On the basis of propagation, the global horticulture market is segregated into vegetative, seed, breeding, layering & cutting, grafting, and others.

The vegetative segment is projected to register a considerable CAGR during the forecast period owing to the broad practice of vegetative propagation among horticulturists and researchers to develop new techniques for the reproduction of exotic plants and vegetables. The vegetative propagation allows the reproduction of new plants from a part of the parent plant while inheriting genetically identical traits.

Europe to Dominate the Market

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.

Europe constituted a major market share in 2021 and is expected to dominate the market during the projected period owing to the early adoption of advanced farming technology and wide acceptance of sustainable food production practices.

Moreover, the region has favorable climate conditions and an ecosystem, which offers an environment for the rapid growth of a variety of plants, vegetables, and fruits. Rising number of the vegetarian population in the region presents a key driver of the regional market.

On the other hand, Asia Pacific is a fast-growing market, and the market in the region is anticipated to expand at a rapid pace during the forecast period owing to favorable government policies toward farmers’ subsidies and existing massive agricultural practices among a large number of the regional population.

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Segments

The global horticulture market has been segmented on the basis of

Cultivation Types

• Ornament Plants
  • Turf
  • Flowers
  • Others
• Food Plants
  • Nut Crop
  • Vegetable
  • Fruits
  • Others

Applications

• Greenhouse
• Indoor Farms
• Vertical Farms

Propagation

• Vegetative
• Seed
• Breeding
• Layering & Cutting
• Grafting
• Others

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Certhon
• Dalsem
• Hort Americas
• Keder Greenhouse
• Heliospectra AB
• Richel Group
• Logiqs BV
• Lumigrow
• Agra Tech Inc.
• Netafim Ltd.
• Argus Control System Ltd.
• Priva Holding BV
• Top Greenhouses Ltd.
• Ridder Holding Harderwijk BV 
• Rough Brothers Inc.

Competitive Landscape

Key players competing in the global horticulture market are Certhon; Dalsem; Hort Americas; Keder Greenhouse; Heliospectra AB; Richel Group; Logiqs BV; Lumigrow; Agra Tech Inc.; Netafim Ltd.; Argus Control System Ltd.; Priva Holding BV; Top Greenhouses Ltd.; Ridder Holding Harderwijk BV; and Rough Brothers Inc.

Some of these players have adopted a series of business development strategies including merger and acquisition, partnerships and collaboration, product launches, and production capacity expansion to expand their consumer base and enhance their market share.