Global Aquaculture and Horticulture Lighting Growth Opportunities

Global Aquaculture and Horticulture Lighting Growth Opportunities

Sustainable Innovation Culture Advancing the Development of Energy Efficient Grow Lights

RELEASE DATE
28-Jun-2022
REGION
Global
Research Code: PD1F-01-00-00-00
SKU: EN01322-GL-MR_26623
$2,450.00
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SKU
EN01322-GL-MR_26623
$2,450.00

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Description

Improving agriculture productivity and output is vital to maintaining food security, given the impacts of the rising global population, demand for quality produce, shrinking arable land, and climate change.

Horticulture and aquaculture lighting are viable solutions to boost crop produce and stimulate animal growth in a controlled environment. Lighting plays a major role in sustainable practices to ensure minimal damage to natural resources and reduced carbon-nitrogen footprint while achieving maximum productivity. Grow light is a common name for aquaculture and horticulture lights. These light sources supplement natural light and, in some cases, are the primary source of light for animal and plant growth, eliminating dependence on external factors, such as sunlight. The ability to grow a steady supply of crops with controlled-environment agriculture (CEA), regardless of weather conditions, will be a major factor driving the adoption of innovative lighting sources.

The global aquaculture and horticulture lighting industry is a high-growth market and forecast to increase at a 25.5% compound annual growth rate between 2021 and 2027. The market’s robust growth rate is forecast to exceed the traditional LED or the lighting controls industry. Europe and North America are expected to lead market growth, while Asia-Pacific will register the highest growth rate over the forecast period.

The adoption of digital technologies, such as artificial intelligence (AI), machine learning (ML), and the internet of things (IoT), for horticulture and aquaculture will generate additional revenue streams.

The aquaculture and horticulture industry comprises a mix of Tier I (global companies), Tier II (strong local brand equity and presence), and Tier III (smaller entities with limited presence or unit of a larger company) players.

The study focuses on the revenue manufacturers earn from the sale of lighting products, including hardware (modules, fixtures, and luminaires ready for installation) and software solutions for monitoring growth and controlling hardware. Frost & Sullivan gathered insights from OEMs, industry experts, and distributors to produce the forecasts in the study.

Author: Dennis Marcell Victor

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Aquaculture and Horticulture Lighting Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Scope of Analysis

Segmentation

Aquaculture and Horticulture Industry Overview

Aquaculture and Horticulture Industry Overview (continued)

Growth Metrics

Growth Drivers

Growth Restraints

Certifications, Standards, and Regulations for Agriculture and Horticulture Lighting 

Forecast Assumptions

Revenue Forecast

Revenue Forecast by Application

Revenue Forecast by Region

Revenue Forecast Analysis

Revenue Forecast Analysis (continued)

Revenue Forecast by Technology—Aquaculture Lighting

Revenue Forecast by Technology—Horticulture Lighting

Revenue Forecast Analysis by Technology

Light Sources for Horticulture

LED Light Spectrum and its Effect on Plant Growth

Competitive Framework

Mergers and Acquisitions (M&As) and Partnerships

Mergers and Acquisitions (M&As) and Partnerships (continued)

Pricing Analysis

Market Snapshot—North America

Forecast Analysis—North America

Market Snapshot—Europe

Forecast Analysis—Europe

Market Snapshot—APAC

Forecast Analysis—APAC

Market Snapshot—MEA

Forecast Analysis—MEA

Market Snapshot—Latin America

Forecast Analysis—Latin America

Growth Opportunity 1: Aquaculture and Horticulture Advancement Beyond Subsistence Farming

Growth Opportunity 1: Aquaculture and Horticulture Advancement Beyond Subsistence Farming (continued)

Growth Opportunity 2: Investment in Enabling Technologies and Infrastructure

Growth Opportunity 2: Investment in Enabling Technologies and Infrastructure (continued)

Growth Opportunity 3: Cultivation of Staple Crops

Growth Opportunity 3: Cultivation of Staple Crops (continued)

Growth Opportunity 4: Regional Focus

Growth Opportunity 4: Regional Focus (continued)

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

Improving agriculture productivity and output is vital to maintaining food security, given the impacts of the rising global population, demand for quality produce, shrinking arable land, and climate change. Horticulture and aquaculture lighting are viable solutions to boost crop produce and stimulate animal growth in a controlled environment. Lighting plays a major role in sustainable practices to ensure minimal damage to natural resources and reduced carbon-nitrogen footprint while achieving maximum productivity. Grow light is a common name for aquaculture and horticulture lights. These light sources supplement natural light and, in some cases, are the primary source of light for animal and plant growth, eliminating dependence on external factors, such as sunlight. The ability to grow a steady supply of crops with controlled-environment agriculture (CEA), regardless of weather conditions, will be a major factor driving the adoption of innovative lighting sources. The global aquaculture and horticulture lighting industry is a high-growth market and forecast to increase at a 25.5% compound annual growth rate between 2021 and 2027. The market’s robust growth rate is forecast to exceed the traditional LED or the lighting controls industry. Europe and North America are expected to lead market growth, while Asia-Pacific will register the highest growth rate over the forecast period. The adoption of digital technologies, such as artificial intelligence (AI), machine learning (ML), and the internet of things (IoT), for horticulture and aquaculture will generate additional revenue streams. The aquaculture and horticulture industry comprises a mix of Tier I (global companies), Tier II (strong local brand equity and presence), and Tier III (smaller entities with limited presence or unit of a larger company) players. The study focuses on the revenue manufacturers earn from the sale of lighting products, including hardware (modules, fixtures, and luminaires ready for installation) and software solutions for monitoring growth and controlling hardware. Frost & Sullivan gathered insights from OEMs, industry experts, and distributors to produce the forecasts in the study. Author: Dennis Marcell Victor
More Information
Author Dennis Marcell Victor
Industries Environment
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Is Prebook No
Podcast No
WIP Number PD1F-01-00-00-00