PUBLISHER: The Business Research Company | PRODUCT CODE: 1392844
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392844
“Premium Potting Soils Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on premium potting soils market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for premium potting soils? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The premium potting soils market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Potting soil, commonly known as potting mix, comprises various components that create a favorable environment for potted plants. These mixtures serve the purpose of preventing soil compaction, which can otherwise suffocate roots and impede the movement of water and nutrients. A high-quality potting soil is characterized by its fluffiness, light weight, and capacity to retain moisture.
Premium potting soils come in various types, including all-purpose potting soil, lawn and garden soil, and professional potting soil. All-purpose potting soil typically consists of two parts such as one part soil, one part compost, and one part perlite, sand, or vermiculite. This composition helps minimize soil-borne diseases, pests, and weeds, making it suitable for a wide range of indoor and outdoor plants such as flowers, vegetables, trees, shrubs, and houseplants. Variations of all-purpose potting soil include those without fertilizer, with fertilizer, and are applicable to indoor gardening, greenhouse use, as well as lawn and landscaping.
The premium potting soils market research report is one of a series of new reports from The Business Research Company that provides premium potting soils market statistics, including premium potting soils industry global market size, regional shares, competitors with market share, detailed market segments, market trends and opportunities, and any further data you may need to thrive in the premium potting soils industry. This premium potting soils market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The premium potting soils market size has grown steadily in recent years. It will grow from $1. 68 billion in 2023 to $1. 72 billion in 2024 at a compound annual growth rate (CAGR) of 2. 6%. The growth observed in the historical period can be attributed to an increasing demand for specialty plants, a heightened awareness of environmental benefits, and the trend of urban gardening.
The premium potting soils market size is expected to see steady growth in the next few years. It will grow to $1. 98 billion in 2028 at a compound annual growth rate (CAGR) of 3. 6%. The anticipated growth in the forecast period can be attributed to a sustained emphasis on sustainability, the integration of technology in agriculture, an increase in home improvement activities, trends in health and wellness, and the upsurge in urban and indoor gardening. Significant trends in the forecast period encompass product innovation, options for customization, innovative packaging solutions, as well as collaborations and partnerships.
The growth of the premium potting soil market is anticipated to be driven by the increasing trend of greenhouse cultivation. Greenhouse cultivation involves the protected growth of crops under translucent or partially transparent materials. Premium potting soils, known for their specific compositions, find frequent use in greenhouse culture as they contribute to creating an optimal growth medium for potted plants. Statistics Canada reported in April 2022 that greenhouse sales in Canada increased by 8. 3% compared to the previous year, reaching $3. 8 billion in 2021. This upward trend in greenhouse cultivation is expected to fuel the growth of the premium potting soil market.
The expanding popularity of gardening as a recreational activity is projected to contribute to the growth of the premium potting soil market in the foreseeable future. Gardening involves the cultivation and maintenance of gardens, encompassing the growth of various plants. Premium potting soils play a vital role in gardening due to their specific composition, offering numerous benefits in nurturing plants, promoting growth, and fostering healthier and more abundant gardens. According to a study conducted by the National Gardening Association in April 2023, 18. 3 million people, with over half (65%) being millennials, took up gardening as a new hobby in 2021. This surge in gardening as a hobby is a driving factor for the premium potting soil market.
Strategic investments are emerging as a noteworthy trend in the premium potting soil market, with major companies seeking funding to drive product innovation and maintain their market positions. In November 2021, Back To The Roots, a US-based company specializing in premium soil mixes and gardening products, secured $15 million in Series D funding from Loft Growth Partners, Fenwick Brands, S2G Ventures, and Echo Capital. This investment aligns with Back To The Roots' growth and expansion plans, reflecting the company's significant development in the organic gardening sector.
In the premium potting soil industry, strategic mergers and acquisitions are becoming increasingly popular among major companies aiming to strengthen their market presence, diversify their product offerings, and gain a competitive edge. In July 2021, Hydrofarm Holdings Group, Inc., a US-based manufacturer of premium potting soil mixes, acquired Aurora Innovations Inc., Gotham Properties LLC, and Aurora International, Inc. The acquisition, for an undisclosed amount, aligns with Hydrofarm's strategy of acquiring high-growth companies with attractive profit profiles that produce or own unique branded products. Aurora Innovations Inc. and Aurora International Inc. are US-based companies specializing in unique organic gardening products, while Gotham Properties LLC is a US-based luxury rental property real estate company.
In May 2021, CenterGate Capital, a US-based private equity firm, completed the acquisition of the Mulch and Soil Company for an undisclosed amount. This acquisition supports CenterGate's commitment to realizing The Mulch and Soil Company's objectives for success and a promising future. The Mulch and Soil Company is a US-based manufacturer and supplier of premium potting soil.
Major companies operating in the in the premium potting soils market report are The Scotts Company LLC, CreekSide Soils, Sun Gro Horticulture Canada Ltd., ASB Greenworld Ltd, Klasmann-Deilmann GmbH, Michigan Peat Company, Vermicrop Organics LLC, Lambert Peat Moss Inc., FoxFarm Soil & Fertilizer Company, The Espoma Company, Rexius Forest By-Products Inc., W. Atlee Burpee & Co., Growers Soil, Blue Ribbon Organics LLC, Coast of Maine Organic Products Inc., Dr. Earth Inc., Earth Juice Inc., Whitney Farms Golf Club & Event Venue, Wonder Soil LLC, Good Dirt LLC, Hoffman Nursery Inc., Kellogg Supply Inc., Central Garden & Pet Company, Master Nursery Garden Centers Inc., Oldcastle Infrastructure a CRH Company, Organic Mechanics, Premier Tech Ltd., Proven Winners North America LLC, Schultz Company.
North America was the largest region in the premium potting soils market in 2023. The regions covered in the premium potting soils market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the premium potting soils market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The premium potting soils market consists of sales of potting soil mix, peat moss, boichar and others. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.