Growing Medium Market Size, Share, Growth, and Industry Growth, By Type (Soilless Mixes, Composts, Gravel, Inert Mediums, And Others), By Application (Crop, Horticultural Plant, And Others), Regional Forecast To 2031

Updated On: 08 April 2024

Growing Medium Market REPORT OVERVIEW

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The global growing medium market size was USD 4259.2 million in 2021 and is projected to touch USD 4953.69 million by 2031, exhibiting a CAGR of 1.5% during the forecast period.

The growing medium is a material used to grow plants. It provides necessary nutrients to the plants to sustain various atmospheric conditions and grow. It is also known as growing media. The product provides physical support for the plants and facilitates the growth of the roots. Growing media also delivers the plant’s required nutrients, air, and water through its roots.

The growing media is important for every type of plantation and gardening. Some common gardening options are container gardening, hydrophobic gardening, and outdoor gardening. Various growing media include soil, bark, peat moss, compost, ride hulls, coco coir, perlite, and others. 

COVID-19 Impact: Shortage of Labor to Impeded Sales

The pandemic outbreak led many people to develop a critical perception of outdoor food, which increased food safety and health concerns among the population across the world. After the outbreak of COVID-19, the adoption of urban hydroponic farming systems is anticipated to boost steadily. The agriculture industry faced many challenges amid pandemics. The industry faced a shortage of work on the farm, and farmers missed the opportunity to harvest the seasonal crops due to the complete lockdown. The prices of agricultural products went low, and the disruption in logistics created new challenges in the growing medium market growth.

LATEST TRENDS

"Rising Population to Facilitate Market Development"

The demand for exotic fruits and vegetables has always been on an ever-rising stage due to the rising population and expanded purchasing power of consumers coupled with health concerns. The exotic fruits and vegetables cost high because most of these products are imported. Moreover, multiple universities and research institutions emphasize the establishment of a more simplified hydroponics system to boost the production rate of vegetables and exotic fruits to meet customers’ demands. 

Moreover, rising awareness among buyers about their health led to the trend of eating fresh vegetables is also expected to fuel growth in the market. The demand for exotic vegetables such as red capsicum, red lettuce, and yellow capsicum in food and retail chains of food such as Burger King and KFC is forecasted to surge in growing medium market growth.

Growing Medium Market Segmentation

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• By Type 

By type, the market is segmented into soilless Mixes, composts, gravel, inert Mediums, and others.

• By Application 

Based on application, the market is classified into the crop, horticultural plant, and others.

DRIVING FACTORS

"Rising Health Concerns to Drive Market Growth"

The rise in health concerns and disposable income is expected to surge growth in the market. The product contains various nutrients required for the growth, maintenance, proliferation, and storage of microbial and other cell types such as cell lines and stem cells.  The consistently raising awareness about the benefits of organic farming and rising demand for convenience food is expected to boost the growth in the market. Simultaneously, an increase in preference for organic food products is anticipated to enhance market growth. Due to this, the population is inclined toward spending more on organic products. In addition, the need to reduce the chemical fertilizer dependency in farming activities is also estimated to drive market growth.

"Increasing Demand for Vegetables to Foster Market Growth"

The rising demand for vegetables and salad crops is estimated to drive the growing medium market forward. The constantly rising incidences of higher yield compared to conventional agricultural practices are also estimated to contribute to the expansion of the growing medium market share. Moreover, the increasing need for cannabis is further expected to offer potential growth to the growing medium market. The need for food security coupled with the rising population, increasing cultivation of medicinal plants, and higher adoption of eco-friendly techniques such as agriculture and farming are forecasted to surge growth in the market. 

RESTRAINING FACTORS

"Lack of Skilled Professionals to Set Limits in Market Growth" 

The key players are switching from conventional to advanced farming techniques to meet the growing demand for the product, which comes up with an issue of a shortage of skilled professionals in the market. Moreover, the initial investment for the product is also high, which is estimated to limit the market growth. The advanced farming techniques also develop a concern coupled with the growing medium 

Growing Medium Market REGIONAL INSIGHTS

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"Increasing Adoption of Hydroponics to Propel Market Progress in North America"

North America is anticipated to gain major growth in the regional market owing to the higher adoption rate of hydroponics and other indoor farming applications, including the legalization of the cultivation of cannabis. The region is attributable to high GDP, rising spending capacity on agriculture, and increasing population.

Europe is anticipated to witness moderate growth among others, the ever-rising backs the growth of Europe for various applications of gardening, agriculture, and others. Additionally, the region’s growth is attributable to the rising number of countries using peat-based growing medium coupled with the rising awareness among farmers. 

KEY INDUSTRY PLAYERS

"Prominent Players to Enhance their Product Portfolio to Strengthen their Market Position"

The companies are focused on generating higher revenues and increasing the production capacities to gain a competitive advantage in the growing medium. The companies strive to develop strategies that offer long-term growth to enhance the product portfolio.  To amplify their growth prospects, the major market players adopt ingenious strategies, including acquisitions, mergers, collaborations, and others. The major market players adopt ingenious strategies, including acquisitions, mergers, collaborations, and others. They focus on incorporating advanced technologies to enhance their offerings. 

List of Market Players Profiled

• Berger (India)
• FoxFarm Soil & Fertilizer Company (U.S.)
• JIFFY (U.S.)
• Pelemix (Israel)
• Quick Plug (Netherlands)
• FLORAGARD Vertriebs (Germany)
• Grodan (Netherlands)
• CANNA (U.S.)
• Premier Tech Horticulture (Canada)
• PittMoss (U.S.)

INDUSTRY DEVELOPMENT

• June 2021- Oasis Grower Solutions introduced a new substrate engineered for precision hydroponic farming known as horticubes Aeromax. Aeromax raised its airflow and porosity to deliver oxygen to the root zone of the crops to create a pathogen-free and wonderfully clean environment for plants to grow.

REPORT COVERAGE

The report covers almost all possible aspects to offer the market insights into telecom power systems, including the major factors responsible for the market's growth. The factors negatively affecting the market growth, along with the effects of the pandemic and its followed lockdown, are represented in the report. The report also includes an analysis of regions and the region leading the global market. Key competitors and their recent developments in the market are included in the report to offer market insights to the stakeholders.