The worldwide growing medium market is advancing and is expected to grow well in the upcoming years owing to the developments happening in the market. Recently there has been an increasing shortage of labour. As a result, the growing medium is being increasingly used to grow plants. The main reason for using these mediums is to help grow plants in different conditions. The favourable market conditions have provided great opportunities for market growth.
The growing medium is a recent innovation and is very helpful in growing plants. This equipment plays a very important role in gardening as well as agriculture because they are prone to provide physical as well as nutrient support to the growing plants. This has been the main reason for the increasing growth of growing mediums. They can be used in increasing the sustainability of plants even when the conditions are not supportive.
According to a research study by Business Research Insights, the global market for the growing medium market is projected to rise at a CARG of 1.6% during the forecast period. In the year 2020, the market was valued at USD 4.0742 billion and the value in the year 2027 was 4.533 billion.
Business Research Insights Presents the Top 10 Prominent Players in the Growing Medium Industry
1. Berger (India)
Berger is a company which is considered as the world leader in the production of growing media. They have many varieties of products which includes organic mixes, poinsettia mixes, wood fibre mixes, and veggie germination mixes. The vast range of products offered by Berger have created a stable position for it even in the international market.
2. Jiffy (U.S.)
Jiffy is an American multinational company that produces a wide variety of products in growing media. Many unique solutions are provided by Jiffy for promoting the growth of plants. Pellets, Performa, and special substrates are the main products manufactured by this company. It is Headquartered in Zwijndrecht, Netherlands.
3. Pelemix (Israel)
Pelemix is has acquired the title of one of the best manufactures of hydroponic solutions and coir-based products. The company has offices in many countries like Sri Lanka, China, Thailand and India. This company is known for using advanced technologies in their growing media.
4. Quickplug (Netherlands)
Quickplug is a growing media company which is based in Netherlands. This company was established in the year 2004. Their first product was a stabilized substrate. They have a customer base of more than a million people all over the world.
5. Grodan (Netherlands)
Grodan is growing media company which specializes in wool and innovative stone substrates. Grodan is an integral part of the ROCKWOOL group. The company mainly focusses on professional horticulture sector and precision growing principles. With great production capacity and quality this company has become one of the top players in the market.
Major Problems Caused By COVID-19 Pandemic
The COVID-19 pandemic has created a tough challenge to all the companies. The restrictions imposed, lockdowns and strict norms regarding social distancing considerably brought down the market growth during the pandemic.
Labour shortage was the major concern. The lack of manpower and labour took a toll on the market conditions. A few factors such as urbanization, demographics and migration of potential laborers to different places reduced the population of labourers. Many farmers missed the opportunity to be a part of this industry during the pandemic. Disruption in logistics was yet another challenge to the key industry players. Also, the decreased prices of all the agricultural products posed a real threat to the market.
Increasing Health Issues and Growing Demand for Vegetables Will Continue to Propel the Market Growth
During recent times there has been a steady increase in the health issues because of various reasons. One major reason being the lack of nutrition in the food we are eating. This can create lucrative opportunities in the market as growing medium will help in producing food that have a lot of nutrients and minerals. The increasing demand for vegetables is yet another factor promoting the market development. Also, the huge investments incoming from the key industry players has helped in increasing the scale of production.