Synthetic Soilless Growing Mediums Market by Product, Farming Type, Distribution Channel, Application, End-Use

Description

List of Tables

[198 Pages Report] The Synthetic Soilless Growing Mediums Market size was estimated at USD 335.34 million in 2023 and expected to reach USD 360.66 million in 2024, at a CAGR 8.03% to reach USD 575.99 million by 2030.

The synthetic soilless growing mediums provide artificial and engineered growth substrates for plants in various applications, such as horticulture, agriculture, hydroponics, and aeroponics. These synthetic mediums are designed to offer ideal physical and chemical properties for optimal plant growth, eliminating the need for traditional soil to improve yield and quality and reduce environmental impact. Increasing global demand for food production with rising innovative agricultural technologies promoting sustainable practices is expanding the usage of synthetic soilless growing mediums. The growing adoption of precision farming methods using modern technologies, including IoT, and increasing interest in organic produce cultivated under controlled environments raise the demand for synthetic soilless growing mediums. High initial costs associated with setting up soilless cultivation systems and limited awareness about the benefits of synthetic soilless growing mediums in certain regions hamper market growth. The rising integration of cutting-edge technology with synthetic soilless mediums using nanotechnology and biotechnology approaches and the ongoing development of customized growth mediums tailored to specific plant needs are expected to create opportunities for market growth.

KEY MARKET STATISTICS
Base Year [2023]	USD 335.34 million
Estimated Year [2024]	USD 360.66 million
Forecast Year [2030]	USD 575.99 million
CAGR (%)	8.03%

Regional Insights

The synthetic soilless growing mediums market in the Americas, particularly in North America, has seen significant growth due to the increasing adoption of indoor and greenhouse farming practices. The ongoing trend of urban farming in the Americas, especially in densely populated areas, has boosted the demand for synthetic soilless mediums as they enable cultivation in limited spaces. Growing concerns about soil degradation and water conservation have led to the adoption of soilless mediums globally, as they allow for efficient resource use and reduce environmental impacts. The Asia-Pacific region has seen a growing landscape in the synthetic soilless growing mediums market, especially in the context of hydroponics and soilless cultivation. Increasing production of high-value crops such as tomatoes, herbs, potatoes, and others that often benefit from soilless growing systems is expected to create a platform for market growth in Asia-Pacific. The EMEA region's varying climate conditions and focus on sustainable agriculture are expanding the usage of synthetic soilless growing mediums in the region. The Middle East invests heavily in vertical farming projects to address water scarcity, thereby increasing the scope for novel synthetic soilless growing medium compositions and cultivation techniques.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Synthetic Soilless Growing Mediums Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Increasing demand for fresh produce due to population growth and urbanization
- Rising need for sustainable farming methods due to climate change concerns and environmental degradation
- Government incentives and supportive policies for adoption of soilless cultivation techniques

Market Restraints
- High cost of synthetic soilless growing mediums

Market Opportunities
- Continuous research and development activities to develop novel synthetic soilless cultivation mediums
- Emerging application of synthetic soilless growing mediums for biomass production

Market Challenges
- Vulnerability to pest infestations or pathogen outbreaks

Market Segmentation Analysis
- Product: Foam-based growing mediums gaining popularity for transplanting seedlings and supporting plants during growth phase
- End-Use: Rising usage of synthetic soilless growing mediums in commercial segment

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Synthetic Soilless Growing Mediums Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Synthetic Soilless Growing Mediums Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Huge greenhouse and open field complex coming online in India

A groundbreaking 200-acre precision farming project, Sangam Farms, is nearing completion in Bhilwara, Rajasthan, India. Developed by Rise Hydroponics, the first phase of this ambitious venture consists of 40 acres of greenhouses alongside open-field cultivation and dairy farming. The innovative agricultural complex features diverse structures, such as fan pad temperature-controlled structures, net houses, naturally ventilated polyhouses, and tunnels to accommodate various crop types. [Published On: 2023-07-20]

ZipGrow and Growfoam announce distribution partnership

ZipGrow Inc., a designer and builder of vertical farming technology, has recently announced a distribution partnership with Netherlands-based ag-tech leader Growfoam. This collaboration aims to expand access to carbon-neutral substrates for a broader range of hydroponic growers in North America, from novices to large-scale commercial operations. The partnership intends to offer ZipGrow's customers immediate access to the world's first 100% biodegradable and circular foam substrate designed by Growfoam. [Published On: 2022-06-29]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Synthetic Soilless Growing Mediums Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Synthetic Soilless Growing Mediums Market, highlighting leading vendors and their innovative profiles. These include Botanicare, Brio Agri Producer Company Limited, CANNA CANADA CORP., Dongguan Yuanyuan sponge products Co., Ltd., Grow Fresh Farm, Hydrodynamics International, Inc., INOAC POLYMER VIETNAM CO., LTD, OASIS Grower Solutions, Resins Agro BV by Aquaresins Technologies BV, Rise Hydroponics, and ZipGrow.

Market Segmentation & Coverage

This research report categorizes the Synthetic Soilless Growing Mediums Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Foam
- Moisture Absorbent Plastic Fibre
- Sponges

Farming Type
- Aeroponic
- Aquaponic
- Hydroponic

Distribution Channel
- Offline
- Online

Application
- Greenhouses
- Indoor Farms
- Vertical Farms

End-Use
- Commercial
- Residential

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-B319550A551D

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing demand for fresh produce due to population growth and urbanization
  - 5.1.1.2. Rising need for sustainable farming methods due to climate change concerns and environmental degradation
  - 5.1.1.3. Government incentives and supportive policies for adoption of soilless cultivation techniques
- 5.1.2. Restraints
  - 5.1.2.1. High cost of synthetic soilless growing mediums
- 5.1.3. Opportunities
  - 5.1.3.1. Continuous research and development activities to develop novel synthetic soilless cultivation mediums
  - 5.1.3.2. Emerging application of synthetic soilless growing mediums for biomass production
- 5.1.4. Challenges
  - 5.1.4.1. Vulnerability to pest infestations or pathogen outbreaks
5.2. Market Segmentation Analysis
- 5.2.1. Product: Foam-based growing mediums gaining popularity for transplanting seedlings and supporting plants during growth phase
- 5.2.2. End-Use: Rising usage of synthetic soilless growing mediums in commercial segment
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Synthetic Soilless Growing Mediums Market, by Product

6.1. Introduction
6.2. Foam
6.3. Moisture Absorbent Plastic Fibre
6.4. Sponges

7. Synthetic Soilless Growing Mediums Market, by Farming Type

7.1. Introduction
7.2. Aeroponic
7.3. Aquaponic
7.4. Hydroponic

8. Synthetic Soilless Growing Mediums Market, by Distribution Channel

8.1. Introduction
8.2. Offline
8.3. Online

9. Synthetic Soilless Growing Mediums Market, by Application

9.1. Introduction
9.2. Greenhouses
9.3. Indoor Farms
9.4. Vertical Farms

10. Synthetic Soilless Growing Mediums Market, by End-Use

10.1. Introduction
10.2. Commercial
10.3. Residential

11. Americas Synthetic Soilless Growing Mediums Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Synthetic Soilless Growing Mediums Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Synthetic Soilless Growing Mediums Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Huge greenhouse and open field complex coming online in India
- 14.3.2. ZipGrow and Growfoam announce distribution partnership
14.4. Strategy Analysis & Recommendation

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio