Global Horticulture Lighting Market

The Horticulture Lighting Market was valued USD 4.26 Billion in 2023 and projected to reach USD 13.85 Billion by 2030, growing at a CAGR of 18.34% during the forecast period of 2023-2030.

The horticulture lighting market is witnessing significant growth and transformation as it becomes increasingly integral to modern agricultural practices. With a surge in demand for year-round and controlled environment cultivation, horticulture lighting systems have emerged as crucial tools in optimizing plant growth, crop yield, and quality. Technological advancements, particularly in LED technology, have revolutionized the market by offering energy-efficient solutions and customizable light spectra tailored to different crops. The market is also driven by the growing popularity of urban farming, where horticulture lighting enables efficient cultivation in limited spaces. As sustainable and precision agriculture practices gain prominence, the horticulture lighting market is poised for continued expansion, serving as a key enabler for enhancing agricultural productivity, mitigating environmental impact, and meeting the demands of a rapidly evolving global food landscape.

Growing popularity of urban farming

The growing popularity of urban farming serves as a significant driver for the horticulture lighting market. As urbanization intensifies and available arable land diminishes, urban farming has emerged as a viable solution to meet the rising demand for fresh, locally sourced produce. In densely populated urban areas, horticulture lighting plays a pivotal role in enabling year-round cultivation and maximizing crop yields in limited spaces. By facilitating vertical farming and rooftop gardens, horticulture lighting allows urban farmers to optimize space utilization and overcome the constraints of natural sunlight. This trend is further accelerated by the increasing emphasis on sustainable and locally sourced food production. As urban farming continues to gain traction as an integral component of the broader agricultural landscape, the horticulture lighting market is propelled by the essential role it plays in supporting efficient and productive urban cultivation.

Market Dynamics

Drivers:

• Rising demand for fresh produce.
• Increasing LED Technology Advancements

Opportunities:

• Developing Smart Horticulture Systems
• Government support for horticulture lighting initiatives.

Increasing adoption of controlled environment agriculture (CEA)

The increasing adoption of Controlled Environment Agriculture (CEA) stands as a prominent trend in the horticulture lighting market. CEA involves the use of advanced technologies to create optimal growing conditions, including precise control over temperature, humidity, and light. In this context, horticulture lighting plays a crucial role by providing the specific light spectra needed for plant growth. The trend towards CEA is driven by the desire for year-round crop production, improved resource efficiency, and higher yields. Horticulture lighting systems are integral to CEA setups, enabling growers to extend growing seasons, enhance crop quality, and achieve better consistency in yields. As the agriculture industry continues to embrace sustainable and efficient practices, the horticulture lighting market is witnessing increased demand due to its vital role in supporting the evolution of controlled environment agriculture.

Europe Dominates The Horticulture Lighting Market.

Europe has established a noteworthy presence in the horticulture lighting market, experiencing ongoing growth as various European nations actively promote plant factories and provide subsidies to stimulate local demand. The European Union’s initiatives to endorse the adoption of LED technology are anticipated to generate additional opportunities for LED lighting providers in the horticulture sector. The mass production of LEDs in numerous markets, coupled with heightened competition among manufacturers, is fostering innovation, expanding product options, and driving down prices. The horticulture LED lighting sector in Europe is rapidly expanding, with local innovations reshaping the future of agriculture by enhancing the farm-to-fork experience.

Farmers are utilizing LED lighting innovations to craft precise climate conditions, resulting in the production of fresher and more nutritious fruits and vegetables for consumers. In this dynamic landscape, LED lighting providers in the region are actively diversifying their horticultural product offerings and strengthening collaborations with various partners. Notably, in March 2022, GE Current expanded its Arize range with the introduction of the Arize Integral intra-canopy lighting (ICL) fixture, designed to optimize yields of high-wire crops such as tomatoes, cucumber, and peppers through strategic light deployment deep within the plant canopy, boasting a best-in-class lighting output of up to 346 µmol/s and an efficiency of 3.5 µmol/J.

LED Segments is anticipated to hold the Largest Market Share during the Forecast Period

Based on technology segment the technology is categorized into fluorescent, high-intensity discharge (hid), light-emitting diode (led), others. The LED technology has major share in the horticulture lightning market.  The horticultural sector is increasingly embracing LED technology, propelled in part by NASA’s ongoing plant-growth experiments conducted under LED lighting. LED lights have garnered favor due to their low energy consumption, enhanced operational efficiency, and the ability to tailor spectral output to emit specific wavelengths essential for plant growth. Moreover, LEDs prove more cost-effective compared to other artificial light sources, exhibiting minimal lumen depreciation over time and ensuring a significantly extended operational life of over 50,000 hours, depending on the application. This extended lifespan contributes to heightened reliability. Another advantage lies in the efficient light emission of LEDs, generating less heat compared to alternative lighting fixtures. In indoor farming, where excess heat is typically considered wasteful and necessitates energy-intensive removal measures like air conditioning or fans, LEDs offer a solution by minimizing heat production in the first place, thereby reducing associated energy consumption.

Major vendors in the global horticulture lighting market are Signify Holding (Phillips Lighting), Gavita International B.V., Heliospectra, ams-OSRAM International GmbH, California LightWorks, Valoya, Hortilux Schréder, ILUMINAR Lighting, Current Lighting Solutions, LLC., GE Lighting (SAVANT TECHNOLOGIES LLC.), ACUITY BRANDS, INC, Lumileds Holding B.V., Cree LED an SGH company, TCP Lighting, PARsource, EconoLux Industries Ltd., Oreon, GlacialLight – Division of GlacialTech Inc., Black Dog Horticulture Technologies & Consulting, ViparSpectra, Active Grow, Agnetix, Thrive Agritech, Bridgelux, Inc., and Kroptek and Others.

Segmentations Analysis of Horticulture Lighting Market: –

Major Segmentations Are Distributed as follows:

• By Lighting Type
  • Toplighting
  • Interlighting
• By Offering
  • Hardware
  • Software
  • Services
• By Technology
  • Fluorescent
  • High-intensity Discharge (HID)
  • Light-emitting Diode (LED)
  • Others
• By Cultivation Type
  • Fruits & Vegetables
  • Floriculture
  • Cannabis
• By Application
  • Greenhouses
  • Vertical Farms
  • Indoor Farms
  •  Others
• By Region
  • North America
    • US
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
    • Chile
    • Peru
    • Rest of Latin America
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
    • BENELUX
    • CIS & Russia
    • Nordics
    • Austria
    • Poland
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Thailand
    • Indonesia
    • Malaysia
    • Vietnam
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Nigeria
    • Egypt
    • Israel
    • Turkey
    • Rest of Middle East & Africa

Recent Developments

• In June 2023, Signify Holding (formerly Phillips Lighting) and INFINITEACRES are joining forces to revolutionize the expansion of vertical farming. INFINITEACRES, known for its resource-efficient indoor farming methods, emphasis on renewable energy, and efforts to minimize food miles, has entered into a collaboration with Signify Holding to tackle technological and business challenges associated with scaling up their operations. As industry leaders, both 80 Acres Farms and Infinite Acres are rapidly advancing, with plans underway to establish a high-capacity farm in Atlanta. The partnership with Signify has proven pivotal in navigating the learning curve and achieving success in this innovative and rapidly evolving field.
• In June 2023, The latest iteration of OSLON square hyper red LED sets a new benchmark with a market-leading wall plug efficiency of 78.8%. Renowned for its compact size, durability, and outstanding performance, this next-generation LED represents a significant advancement in the field.
• In June 2023, The recently introduced OSLON Optimal Red expands the spectral coverage, enhancing the growth of commonly cultivated plant types under artificial lighting.

Horticulture Lighting Market Report Gives Answers to Following Key Questions:

• What will be the Horticulture Lighting Market’s Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers of Horticulture Lighting Market?
• What are the main forces behind the worldwide Horticulture Lighting Market? Which companies dominate the Horticulture Lighting Market?
• Which companies dominate the Horticulture Lighting Market? Which business possibilities, dangers, and tactics did they embrace in the market?
• What are the global Natural Food Colors industry’s suppliers’ opportunities and dangers in Horticulture Lighting Market?
• What is the Natural Food Colors industry’s regional sales, income, and pricing analysis? In the Horticulture Lighting Market, who are the distributors, traders, and resellers?
• What are the main geographic areas for various trades that are anticipated to have astounding expansion over the Horticulture Lighting Market?
• What are the main geographical areas for various industries that are anticipated to observe an astounding expansion in Horticulture Lighting Market?
• What are the dominant revenue-generating regions for Horticulture Lighting Market, as well as regional growth trends?
• By the end of the forecast period, what will the market size and growth rate be?
• What are the main Horticulture Lighting Market trends that are influencing the market’s expansion?