III. Industry Analysis
[Company Name] competes against small, individually owned commercial greenhouse farming businesses and major regional or national chains. The commercial greenhouse market was valued at $23 trillion last year and is projected to reach $36.12 trillion over the next five years, growing at a CAGR of 6.65%. The rising demand for food, declining arable land due to increasing population, and sudden environmental changes have fueled the commercial greenhouse market.
Greenhouses are used to compensate for flaws in a piece of land’s growing properties, such as a short growing season or low light levels. In essence, they are intended to boost food production in underserved areas. This is so because greenhouses allow some crops to be cultivated throughout the year, regardless of the weather. Greenhouses are becoming an increasingly significant component of high-latitude countries’ agricultural supply chains.