Organic Vegetables Propel Growth: A Key Driver Transforming the Potting Soil And Mixes Market 2024
Potting Soil And Mixes Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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Over the course of recent years, the potting soil and mixes market size has observed a strong upward trend2. It is expected to grow from $2.49 billion in 2023 to a staggering $2.67 billion in 2024, showcasing a compound annual growth rate CAGR of 7.2%. The historic period saw growth driven principally by factors such as increased demand for gardening supplies, a trend towards home gardening as a leisure activity, the expansion of the horticulture industry and the aesthetic and health benefits that come with indoor greenery. Additionally, ever-growing awareness of environmental issues played a substantial role in the market's performance.
What is expected for the Potting Soil And Mixes market size in the foreseeable future?
The potting soil and mixes market is estimated to continue with this strong growth in the upcoming years. Projected to grow to $3.53 billion by 2028, with a compound annual growth rate CAGR of 7.3%, the forecast period is anticipated to be shaped by the rise of urban and balcony gardening, the sustained interest in self-sustaining practices provoked by the pandemic, and an increase in demand for eco-friendly and organic potting mixes. Other influences include stricter regulations on chemical usage in potting mixes, and advanced certification and standardization requirements.
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What is driving the growth of the Potting Soil And Mixes market?
An increasing interest in consuming organic vegetables is set to stimulate the overall growth of the potting soil and mixes market. Organically grown vegetables are farmed without the use of synthetic fertilizers, pesticides, herbicides, or genetically modified organisms GMOs. The popularity of organic vegetables is fueled by a multitude of reasons including health benefits, environmental concerns, food safety, and even the influence of the media and celebrities. Potting soils and mixes provide a rich in nutrients and well-draining environment vital for the growth of organic vegetables, effectively enhancing plant health and overall yield. As an illustration, in May 2023, according to the Department for Environment, Food, and Rural Affairs a UK-based government agency, the fully organic and in-conversion vegetable land was reported to be 7.9 in 2021, expected to increase to 8.4 by 2022.
Who are the key players in the Potting Soil And Mixes market?
The potting soil and mixes market is spearheaded by major companies such as Scotts Miracle-Gro Company, Jiffy Products International B.V., Sun Gro Horticulture, COMPO Group, Denbow Ltd., Peats Soil & Garden Supplies, ASB Greenworld Inc., Fafard Inc., Klasmann-Deilmann Gmbh, The Espoma Company, FoxFarm Soil & Fertilizer Co., Organic Mechanics Soil, Michigan Peat Company, Dr Earth, Early's Farm & Garden Centre, Katek Fertilizers, Lambert Peat Moss, Optimize Organics, PittMoss, Sol Soils, and Vigoro.
What emerging trends are influencing the Potting Soil And Mixes market's growth?
Major players in the potting soil and mixes market are focusing on developing innovative products like climate-conscious potting mixes and perlite that promote aeration and drainage. For example, in June 2024, Sun Gro Horticulture, a US-based provider of soilless growing mixes, launched Sunshine Black Bear Indoor & Outdoor Potting Mix, a new climate-conscious mix. This innovative product utilizes Black Bear biochar, a sustainable substitute to perlite, encouraging aeration, drainage, and likewise contributing to carbon capture.
How is the global Potting Soil And Mixes market segmented?3
The global potting soil and mixes market covered in the report can be segmented by:
1 Soil Type: All-Purpose Potting Soil And Mixes, Seed-Starting Mix, Organic Mix, Plant-Specific Mix
2 Sales Channel: Offline Sales, Online Sales
3 Application Type: Indoor Gardening, Lawn And Landscape, Certified Organic Users
In terms of regional performance, North America emerged as the largest region in the potting soil and mixes market in 2023. Other regions included in the report are Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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