Potting Soil Market Forecast and CAGR
According to latest research by Fact.MR., Potting Soil market is set to witness moderate demand, growing at a CAGR of 3.5 to 4.5% during 2021-2031. Sales in commercial sector will provide momentum even as residential sector demand faces short term slowdown. Thus demand is projected to have a robust growth outlook in the long-run.
What is Driving Demand for Potting Soil?
The global demand for potting soil is expected to be driven by indoor gardening and greenhouse applications at a significant growth from developed regions. The rising popularity of corporate landscaping and home gardening for decorative purposes in the developed economies as well as developing ones is expected to fuel sales. Furthermore, the growing trend of greenhouse planting is expected to propel the market growth.
Additionally, the growth of the market is being propelled by lawn & garden management practices as there is increase in customer interest in outdoor activities and a growing emphasis on lawn and garden care to beautify, preserve, and enhance property value.
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Commercial Segment Likely to Augment Potting Soil Sales
Commercial sector of the global market have been greatly affected by COVID-19 pandemic. Several major countries around the globe have implemented prohibition on people movement and work stoppage orders. Given the situation, market players have commenced upon implementing aggressive marketing strategies to expand their market sales of the product after disruption of sales in 2020. The players are are trying to enlarge market footprint and increase new customer base.
In the global market, the commercial segment is expected to hold a large market share. The commercial segment is expected to benefit as the practice of greenhouse planting continues to grow. The availability of specific soil i.e. plant soil is also expected to be a positive factor in the increased use of the product in commercial applications.
For example, cactus potting soil works well for succulents and cactus because it contains a unique combination of perlite, organic materials and sand to stimulate drainage.
US and Canada Potting Soil Market Outlook
U.S. and Canada is anticipated to witness optimistic growth in the global market. The increasing area under greenhouses along with the implementation of modern technology in agriculture industry is expected to boost the demand in this region.
Demand in the US and Canada will be led by commercial sector, although residential sector is also expected to play a key role. The presence of leading market players such as scotts miracle gro, sun gro horticulture & others translates into the ease of product availability within U.S. and is projected to positively impact the market growth.
The growing interest by the urban and semi-urban population towards home gardening is also escalating sales of potting soil in U.S. and Canada. Also, there is increase in corporate inclination towards corporate space gardening and landscaping owing to diverse workplace design layout, which is anticipated to become a key factor to accelerate the market demand.
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Europe Demand Outlook for Potting Soil
Europe has emerged as the leading producer and consumer of potting soil in recent years, with a large market share due to its strong demand for all-purpose soil segment. Since the cost of raw materials has decreased in recent years, the price has gradually decreased. As a result, this will generate an optimistic opportunity for global business growth in the coming years.
In 2016, Westland horticulture signed an agreement to acquire William Sinclair, a United Kingdom based horticulture-company. William Sinclair's ellesmere-port manufacturing facility is included in the acquisition. The acquisition is expected to help west land horticulture to develop their business in Europe.
Asia Pacific region is also witnessing substantial growth in the market. As the growers are inclining towards organic farming with well-organized farm techniques, which is expected to propel the demand from Asia Region.
Who are the Key Manufacturers and Suppliers of Potting Soil?
Some of the leading manufacturers and suppliers of Potting Soil include
- Sun Gro
- Scotts Miracle-Gro
- ASB Greenworld
- Matécsa Kft
- Good Earth Horticulture
- Hangzhou Jinhai
- Free Peat
- C&C Peat
- Michigan Peat
- Vermicrop Organics
The manufacturers are strongly focusing on improving quality, and expanding their market reach to target new customers. Moreover, players are also acquiring or developing partnerships with local players to gain dominance in local market. The growing demand for rich nutrient contents can also create a new opportunity for the manufacturers of potting soil market.
An Adaptive Approach to Modern-day Research Needs
Potting Soil Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
By Product Type
- All Purpose Soil
- Lawn and Garden Soil
- Professional Soil
- Indoor Gardening
- Lawn & Landscaping
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- East Asia
- South Korea
- South Asia Pacific
- ASEAN Countries
- Rest of South Asia Pacific
- Middle East and Africa
- GCC Countries
- Northern Africa
- South Africa
- Rest of MEA
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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