Greenhouse Soil Market is expected to reach USD 5,756.12 million by 2030
As per the report published by Kings Research, the global Greenhouse Soil Market was valued at USD 3,884.3 million in 2022 and is projected to reach USD 5756.1 million by 2030, growing at a CAGR of 5.15% from 2023 to 2030.
Greenhouse soil is utilized in greenhouses to cultivate fruits, vegetables, and other crops. The increased popularity of greenhouse farming has directly fueled the greenhouse soil industry. One of the major factors that will drive market expansion during the forecast period is the scarcity of cultivable land in several locations throughout the world. Greenhouse soil components such as aged tree bark, coconut coir, and rock wool, others, are organic in nature and appropriate utilization of these materials in soil mixes is among the few factors that would propel the market.
Encouraging policies by countries favoring greenhouse agriculture and other greenhouse practices is likely to create opportunities and attract investments. For instance, as stated by IBEF (Indian Brand Equity Foundation), the Government of India announced special budgets for promoting the usage of modern agricultural solutions. Such initiatives especially by developing countries will further augment the market.
- Based on the application, the greenhouse segment held the largest market share in 2022, accounting for 43.44% of the segmental share, and is anticipated to experience the fastest growth of 6.61%.
- Based on component, the peat moss segment generated the highest revenue, attributing USD 1,426.2 million in 2022
- Based on type, the garden soil segment dominated the highest revenues of USD 1,437.5 million in 2022
- On the basis of region, Europe accounted largest market share of 37.12% in 2022 and is estimated to continue its dominance during 2023 - 2030
Acquisition of Australia Growing Solutions Pty Ltd. by Klasmann-Deilmann GmbH to Expand Product Portfolio
July 2021 - Klasmann-Deilmann GmbH, a German-based company accomplished the acquisition of Australian Growing Solutions. In recent years, the two companies have had business relationships with each other. The motive of the acquisition was to enhance the production of sustainable raw materials.
Revolutionizing Greenhouse Cultivation Through Advanced Agricultural Techniques and Indoor Gardening Trends
Advancements in greenhouse agricultural techniques have paved enhanced methods for better yields, and tackling climate-related problems through greenhouse cultivation. Additionally, another factor driving the expansion of the market is the increase in demand for greenhouse soil in various indoor applications such as gardening, grass, and landscaping. The combination of soil composition and nutritional properties in greenhouse soil has demonstrated remarkable efficacy in supporting the organic growth of blooming plants, lawns, and various gardening activities. Utilizing modern agricultural methods including using old tree barks, organic composites, and other nutrient-rich materials in addition to greenhouse soil has enhanced the quality of the products. Shifting gardening trends towards indoor gardening is anticipated to further increase the demand for greenhouse soil throughout the forecast period.
The demand for greenhouse soil has increased steadily in recent years due to its ability to restrict the growth of pests, insects, and other organisms that consume the plant during its growth. This vital function is made possible by the organic compost of the soil, which leads to better production of crops in greenhouses.
High Penetration of Advanced Techniques to Propel Market Value in North America
North America was the second largest region attributing revenue of over USD 1,000 million in 2022 and is likely to anticipate a growth rate of 5.08% throughout the forecast period. The advancement of techniques and the adoption of automated systems in greenhouse agriculture, indoor gardening, and other related applications have driven market growth in the region. The presence of established players in the region further adds to revenue generation as consumers can choose from vast products, each of which has unique characteristics. Developments in Canada are anticipated to observe a growth rate of more than 4% in the country, while the U.S. accounts for the largest revenue of USD 815.6 million in North America.
Adoption of Alternative Agricultural Techniques to Augment the Market Growth in Middle East & Africa
Middle East and Africa are expected to portray a steady growth rate by 2030. Extreme weather conditions in the region are a key factor that has penetrated the utilization of greenhouse agriculture in the Middle East. The presence of high-potential investors in the region is likely to support market expansion in the region.
Increasing Focus On Strategic Mergers and Acquisitions for Sustainable Growth and Expansion
The market is fragmented with significant players, such as Agra Tech, Inc., ASB Grünland Helmut Aurenz GmbH, Florentaise, FoxFarm Soil & Fertilizer Co., Garden Health, Good Earth, Klasmann-Deilmann GmbH, Luiten Greenhouses, Michigan Peat Company, ScottsMiracle-Gro, and others, are concentrated on expanding their business through collaboration and partnership strategies.