Premium potting soils market

Premium Potting Soils Market, by Product (All-purpose Potting Soil, Lawn and Garden Soil, and Professional Potting Soil), by Application (Indoor Gardening, Greenhouse, and Lawn & Landscaping), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

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Apr 2022
CMI5005
105 Pages
Excel & Pdf
Agrochemicals

Summary

Premium potting soil is a porous and it is utilized for root aeration and drainage but also capable of water and nutrient retention. Premium potting soil contains quality artificial mixes that generally contain slow release fertilizers, which take care of a plant's nutritional requirements for several months.

The global premium potting soils market was valued at US$ 1,598.4 Mn in 2020 and is expected to reach US$ 1,855.1 Mn by 2028, exhibiting a CAGR of 3.50% during the forecast period.

Drivers:

The increasing penetration of indoor gardening and greenhouse is expected to boost the demand for premium potting soil. The increasing popularity of home gardening and corporate landscaping for decorative purposes is expected to boost demand for premium potting soil. The COVID 19 epidemic increased the backyard gardens. The lockdown and work from home culture provided more time and energy for people to focus on their new hobby of cultivating indoor gardening. Additionally, growing lawn & garden management practices boosted the growth of the premium potting soil market.

Figure 1. Global Premium Potting Soils Market Revenue Share (%), By Region, 2020

Among regions, North America held a dominant position in the global premium potting soils market in 2020, accounting for 38.0% market share in terms of revenue, followed by Europe and Asia Pacific. The growing adoption rate of home gardening, coupled with increasing greenhouse cultivation in the U.S. and Canada is expected to boost the premium potting soil demand in this region. The presence of leading market players such as Scotts Miracle Gro, Sun Gro, and others is projected to boost the premium potting soil market growth during the forecast period.

Premium Potting Soils Market Report Coverage

Report Coverage	Details
Base Year:	2020	Market Size in 2020:	US$ 1,598.4 Mn
Historical Data for:	2017, 2018, and 2019	Forecast Period:	2021 to 2028
Forecast Period 2021 to 2028 CAGR:	3.50%	2028 Value Projection:	US$ 1,855.1 Mn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, and Rest of Asia Pacific Middle East : GCC Countries and Rest of Middle East Africa: North Africa, Central Africa, and South Africa
Segments covered:	By Product: All-purpose Potting Soil, Lawn and Garden Soil, and Professional Potting Soil By Application: Indoor Gardening, Greenhouse, Lawn & Landscaping
Companies covered:	Scotts Miracle-Gro, CreekSide, Sun Gro, ASB Greenworld, FoxFarm, Klasmann-Deilmann, Michigan Peat, Lambert, Vermicrop Organics, Espoma, Baccto, and Rexius
Growth Drivers:	Increasing practice of greenhouse planting Increasing popularity of indoor gardening
Restraints & Challenges:	Less adoption rate of premium potting soil and growing usage of counterfeit products

Market Restraints

Low adoption rate of home gardening, greenhouse and lawn landscaping in many underdeveloped countries, and increased use of counterfeit products is a major factor hindering growth of the global premium potting soils market. Moreover, lack of universal directives pertaining to manufacturing & applications of premium potting soils is expected to restrain the market growth during the forecast period. Every country has different directives for applications of premium potting soil.

Market Trends

Consumers are inclining towards premium potting soil, owing to growing online sales channel for buying premium potting soils. Benefits associated with the premium potting soils include increased microbial activity, rich source of calcium, nitrogen, and iron are some of the leading factors driving the growth of the global premium potting soil market. Moreover, companies operating in premium potting soil are focused on adopting aggressive marketing strategies to expand its market footprints along with enhancing customer base through developing new distribution channel is expected to drive growth of the premium potting soil market during the forecast period.

Figure 2. Global Premium Potting Soils Market Revenue Share (%), By Application, 2020

Among application, indoor gardening segment held a dominant position in the global premium potting soils market, accounting for 48.0% market share, in 2020. Increasing disposable income and rapidly expanding construction industry is propelling the cultivation of indoor gardens in many developed and emerging countries such as U.S., Canada, Germany, Japan and India which in turn is driving the global premium potting soils market growth. For instance, according to the Global Building & Construction Association, China planned to spend US$ 13 Trillion on construction activities by 2030, which is expected to contribute the growth of indoor gardens. Thus, aforementioned factors are expected to boost the growth of premium potting soil market.

Global Premium Potting Soils Market - Impact of Coronavirus (Covid-19) Pandemic

The Covid-19 pandemic had a limited impact on premium potting soils market. Limited economic impacts were observed in the premium potting soils industry due to agility of producers, supply chain contributors and retailers, but also to the rapid and broad response by governments. According to OECD (Organization for Economic Co-operation and Development), close to 800 measures were undertaken by governments in 54 developed and emerging countries, aimed to avoid aggravating disruptions, provide relief to affected producers and consumers, or to bolster the recovery of affected production activities.

Table of Content

Table of Contents

* Browse 25 market data tables* and 20 figures* on "Global Premium Potting Soils Market” - forecast to 2028.

Segmentation

Detailed Segmentation:

- Frequently Asked Questions -

What will the Premium Potting Soil market size be in 2028?

The global premium potting soils market is expected to surpass US$ 1,855.1 Mn by 2028 and is expected to exhibit a CAGR of 3.50% between 2021 and 2028.

What are the major factors that are expected to drive growth of the market during the forecast period?

Growing practice of indoor gardening and greenhouse are expected to drive the market growth during the forecast period.

What are the trends in the market?

Growing online sales channel for sailing premium potting soil is expected to boost demand for premium potting soils.

What are the key factors hampering growth of the market?

Low adoption rate of premium potting soil and increasing usage of counterfeit products are some of the major factors that are expected to hamper growth of the market over the forecast period.

Which are the key players operating in the market?

Key players operating in the market include Scotts Miracle-Gro, CreekSide, Sun Gro, ASB Greenworld, FoxFarm, Klasmann-Deilmann, Michigan Peat, Lambert, Vermicrop Organics, Espoma, Baccto, and Rexius.

What is the current market size?

The market is estimated to be valued at US$ 1,643.53 Mn, in terms of revenue, in 2021.