Market Research Report
Canada Smart Greenhouse Market Forecast 2021-2026
|Published by||Inkwood Research||Product code||987550|
|Published||Content info||70 Pages
Delivery time: 2-3 business days
|Canada Smart Greenhouse Market Forecast 2021-2026|
|Published: February 8, 2021||Content info: 70 Pages||
The Canada smart greenhouse market is forecasted to grow with a CAGR of 8.22%, across the studied period. The country's market growth is supplemented by key drivers, including, the rising prevalence of vertical farming and the increasing importance of food safety. The base year considered for the market study is 2020, while the forecast years are from 2021 to 2026.
Canada's new ag-tech company, Local Leaf Farms, officially opened its first farming facility in 2020. As a result, the company established itself to transform the food industry in Canada. Local Leaf Farms produces hyper-local produce that is more sustainable, fresh, and completely traceable, using vertical farming technology. Hence, the approach directly addressed several challenges, in terms of food production, highlighted by the COVID-19 pandemic. In addition to the launch, the company also released the findings of an IPSOS study conducted, confirming the ways in which the pandemic has impacted food decisions in Canada. As per the survey, 68% of Canadians believe that the pandemic has made food safety more crucial, while 47% assert that locally produced food is their critical purchase driver.
The research also identified significant insights about changing consumer perceptions, including the widespread belief that eliminating plastic from food packaging is essential. Moreover, 51% of the country's population prefers non-plastic, compostable, and plant-based material. In addition, 88% of Canadians regard food safety as essential in terms of their purchase decision, while buying produce and leafy greens. Hence, these factors are set to fuel the country's market growth over the studied period.
Some of the prominent companies operating in the country's market are, Argus Control Systems Limited, LumiGrow, Hort Americas, etc.