Plant lighting leads the future agricultural revolution, plant lighting equipment is developing rapidly, and the future market is broad (2)
With the improvement of residents' income and living standards, home gardening has gradually emerged. Many families use plant lighting equipment to plant flowers and other plants, and the market is growing rapidly. According to LEBEKAN data, in 2019, the global market size of plant supplementary lighting equipment used in the home gardening sector increased from US$300 million in 2015 to US$890 million, and is expected to grow to US$3.59 billion by 2024.
Affected by the epidemic, people stay at home for longer and spend more time on home activities such as home gardening. Balconies, backyards and roofs have become places for many people to grow vegetables and green plants. At present, many small home plant factory devices have been launched on the market.
LEBEKAN data shows that since the beginning of this year, the sales of smart vegetable planters on Taobao Tmall platform have increased by more than 200% compared with the same period last year, and the overall transaction value of a flagship store in March has more than doubled year-on-year. At present, there are many orders in the store from Guangdong, Beijing, and Shanghai.
In the long run, modern facility agriculture such as plant factories and vertical farms will inject continuous vitality into the plant lighting market, which also means that the LED plant lighting market has a broad space for growth. The application of plant lighting products has widely covered plant tissue culture, leafy vegetable planting, plant factories, seedling raising factories, edible fungi factories, algae cultivation, plant protection, flower planting, etc., which also reflects the broad application prospects of plant lighting from the side. and development sustainability.
LEBEKAN data believes that plant lighting leads the future agricultural revolution and has become an important hot spot for the cross-border integration of lighting and agriculture. Benefiting from the rapid development of government policies and technology, the field of plant supplementary lighting equipment in my country has developed rapidly.
However, compared with foreign markets, the domestic plant lighting equipment industry is still in the early stage of development, the market maturity is low, and there are infinite possibilities in the future. With the gradual increase of downstream applications, the horticultural lighting industry will maintain a medium-to-high speed development.