by The global Greenhouse Soil Market is estimated to be valued at US$ 6.35 Bn or billions in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Greenhouse soil refers to the growing media used for cultivation of plants inside a greenhouse. It provides the required nutrients and water holding capacity to support plant growth. Greenhouse soil often contains peat moss or coconut coir to improve aeration and drainage. It also includes composted bark, rice hulls, vermiculite, perlite and sand which enhance the texture and structure. Using greenhouse soil allows greenhouse farmers to carefully control the growing environment and increase yields. It helps in uniform germination and promotes faster growth of crops throughout the year.
Market key trends:
One of the major trends in the greenhouse soil market is the growing popularity of organic and sustainable growing mixes. With increasing health consciousness, consumers are preferring fruits and vegetables grown without chemicals. To meet this demand, many greenhouse soil manufacturers are introducing organic mixes made from natural ingredients like forest byproducts and compost. Another key trend is the launch of customized soil blends suited for different crop types. Leading players are offering soil mixes formulated for tomatoes, cucumbers, peppers and other greenhouse produce considering their specific nutrient requirements. This ensures optimum growth and higher produce quality. Such tailored growing media is gaining traction among professional greenhouse farmers.
Porter’s Analysis
Threat of new entrants: New players need significant capital investments in infrastructure for greenhouses and soil production equipment. Established players enjoy economies of scale.
Bargaining power of buyers: Large buyers such as growers can negotiate lower prices from suppliers due to high volumes. However, suppliers have differentiated products limiting influence of buyers.
Bargaining power of suppliers: Major players control a significant share of global supply, giving them upper hand in negotiations. However, availability of substitutes balances their power.
Threat of new substitutes: Alternative growing media can substitute greenhouse soils over the long run. However, established brands ensure consumer choice of greenhouse soils.
Competitive rivalry: The global market is consolidated with top five players accounting for majority share. Players compete on quality, service and innovation to boost margins.
Key Takeaways
The global Greenhouse Soil Market is expected to witness high growth, exhibiting CAGR of 4.6% over the forecast period, due to increasing adoption of hydroponics and protected cultivation farming.
North America dominates the global greenhouse soil market due to large scale cultivation of vegetables and flowers. Europe is the second largest market driven by advanced greenhouse technology adoption. Asia Pacific is expected to be the fastest growing market with countries like China and India prominently adopting greenhouse farming.
Key players operating in the greenhouse soil market are Klasmann-Deilmann, ScottsMiracle-Gro., Sun Gro Horticulture, Premier Tech, ASB Greenworld, Florentaise, Lambert Peat Moss, Westland Horticulture, Michigan Peat Company, FoxFarmSoil & Fertilizer Company, Southeast Soils Peat Company Inc., and Espoma Organic. These players compete on offering differentiated and innovative soil formulations and additives.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
