Potting soil, commonly known as potting mix or soil, is a medium used to grow plants indoors in pots and containers and provide them with proper nourishment and aeration. Premium potting soils are specifically formulated using high-quality ingredients to support optimum growth and thriving of indoor and garden plants. With people spending more time at home due to remote working and pandemic lockdowns, gardening and houseplant adoption has gained immense popularity in recent times, driving demand for premium potting soils for container gardening.
The global Premium Potting Soils Market is estimated to be valued at US$ 1772.17 Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing popularity of gardening and container farming has boosted the sales of Global premium potting soils market size over the recent past. As more people undertake gardening and houseplant care as a hobby during the pandemic, the demand for high-quality potting mixes designed to support superior growth has increased substantially. Premium potting soils formulated using ingredients like nutrient-rich compost, perlite, vermiculite, and sand promote water retention and drainage along with providing essential nutrients to indoor and outdoor plants. Their user-friendly properties and longer shelf-life compared to regular potting soils have made them a preferred choice among amateur and professional gardeners alike.
SWOT Analysis
Strength: Premium potting soils are of high quality and allow for optimal plant growth. They contain carefully selected ingredients like compost, perlite and vermiculite to facilitate drainage and aeration for plant roots.
Weakness: Premium potting soils can be quite expensive compared to regular potting soils. This high cost may limit their adoption among price-sensitive consumers.
Opportunity: More consumers are growing vegetables, herbs, fruits and flowers in their home gardens or patios. This trend can boost demand for premium potting soils that support successful plant cultivation.
Threats: Availability of cheaper substitutes like regular potting soils or homemade soil mixtures can divert some customers away from premium branded potting soils. Customers may also choose indoor plants that require less maintenance.
Key Takeaways
The global premium potting soils market is expected to witness high growth. Gardening and landscaping have become popular hobbies worldwide as people seek relaxation amid busy lifestyles. The global Premium Potting Soils Market is estimated to be valued at US$ 1772.17 Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030.
Premium soils that come packaged in bags offer convenience to amateur gardeners. Asia Pacific currently dominates the market owing to rising disposable incomes in countries like China, Japan and India. Increased construction of homes with gardens is propelling demand.
Key players operating in the premium potting soils market are Exxon Mobil Corporation, Royal Dutch Shell Plc., RAHA Bitumen, Inc., Tekfalt Binders (Pty) Ltd., SprayPave, Indian Oil Corporation Ltd., GOIL Company Limited, Wabeco Petroleum Ltd., Tiger Bitumen, and Richmond Group. These companies focus on new product launches and expansion into emerging regions to gain market share. They also invest in promotions to boost brand awareness among consumers.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
