Premium Potting Soils Market
Premium potting soil is also known as potting mix or miracle soil. It is used to grow plants, herbs, and vegetables in a pot or other durable container. Premium potting soil is comprised of various ingredients such as sand, perlite, grit (for improving drainage) and vermiculite. These mixes are designed to keep the soil from becoming too compacted, which can suffocate roots and impede the flow of water and nutrients, thus providing a healthy environment for potted plants to grow.
Market Dynamics
Premium potting soil plays an important role in cultivation of plants. Potting soil with its rich nutrients contents promotes healthy plants vegetative growth. Premium potting soil contains various nutritious ingredients such as sphagnum peat moss, rice hulls, and processed forest products such as aged or composted bark, manure, compost, bat guano, poultry litter, or earthworm casting. The use of these ingredients can minimize the time taken for the emergence of plant. Thus, aforementioned factors are expected to drive growth of the global premium potting soils market.
The growing demand for premium potting soil in both commercial and residential applications is expected to boost the adoption of premium potting soil during the forecast period. Moreover, many market players are focusing on partnership with native vegetable growers for developing health food products and this is expected to boost demand for premium potting soil. For instance, in 2018, FoxFarm Company, entered into a strategic partnership with Hydrofarm LLC., a U.S. based company, an independent wholesaler and manufacturer of hydroponics equipment and horticultural products. This partnership helped FoxFarm Company to increase their consumer base in the U.S.
Growing trend of home gardening is expected to boost demand for premium potting soil market. According to the U.S. Census Bureau statistics, the global garden retail sector witnessed a sales revenue increase of 8.6% since the spring of 2020, as a result of the popular home and garden trend. Additionally, bureau also states that the average sales revenue of global home gardening industry products had year-over-year growth of 4.62% in 2018. Two years later, in 2020, that annual growth rate nearly double to 8.79%. Thus, growing trend of home gardening is expected to boost demand for premium potting soil.
Key features of the study
Market Segmentation
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