New Study from StrategyR Highlights a $3.9 Billion Global Market for Garden Soil by 2026
SAN FRANCISCO, Feb. 24, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Garden Soil - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Edition: 5; Released: February 2022
Executive Pool: 866
Companies: 69 - Players covered include ASB Greenworld; Bord na Mona; C&C Peat; Copmpo; Espoma; Florentaise; FoxFarm; Free Peat; Good Earth Horticulture; Hangzhou Jinhai; Klasmann-Deilmann; Lambert; Matecsa Kft; Michigan Peat; Premier Tech; Scotts Miracle-Gro; Sun Gro; Vermicrop Organics; Westland Horticulture and Others.
Coverage: All major geographies and key segments
Segments: Application (Cultivation, Lawns, Commercial Development, Sports Fields, Green Spaces, Other Applications)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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ABSTRACT-
Global Garden Soil Market to Reach US$3.9 Billion by the Year 2026
Garden Soil contain a mixture of topsoil and other nutrients and materials which allows all plants to develop to their full potential. Garden soils can also be mixed with existing soils or mixed with other organic materials such as soilless potting mixes, peat moss or compost in various ratios. Growth in the global market is attributed to the increasing demand for organic products, popularity of urban farming practices, growth in global population, increasing demand for garden and lawn consumables, popularity of urban farming practices, increasing demand for green spaces and growth of urban and controlled farming. The growth in the horticulture market is also one of the growth drivers of the soil market. Major agricultural firms also want to preserve and safeguard their market share fueling the demand for garden soils. With popularity in environmental conservation issues, government regulating bodies are boosting demand for garden soil. Since the markets of developed countries are saturated, manufacturers are looking for new consumer bases and untapped markets. Some of the limiting factors of the market are lack of awareness about garden soil products that leads to lower penetration of the market.
Amid the COVID-19 crisis, the global market for Garden Soil estimated at US$3 Billion in the year 2022, is projected to reach a revised size of US$3.9 Billion by 2026, growing at a CAGR of 6.3% over the analysis period. Cultivation, one of the segments analyzed in the report, is projected to grow at a 7.4% CAGR to reach US$1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Lawns segment is readjusted to a revised 6.6% CAGR for the next 7-year period. This segment currently accounts for a 23.9% share of the global Garden Soil market. The cultivation application market is being driven by the rising need for organic farming practices that use soil mixes and blends. There is also a growth in demand for controlled farming and urban farming practices all over the world, which has propelled the market for garden soils in lawns and cultivation applications.
The U.S. Market is Estimated at $1.1 Billion in 2022, While China is Forecast to Reach $471.7 Million by 2026
The Garden Soil market in the U.S. is estimated at US$1.1 Billion in the year 2022. The country currently accounts for a 37.45% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$471.7 Million in the year 2026 trailing a CAGR of 8.6% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.8% and 5.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR while Rest of European market (as defined in the study) will reach US$508.2 Million by the end of the analysis period. Organic farming, maintaining lawns, adopting modern techniques, improved yield, productivity and quality are some of the factors contributing to growth in North America region.
Commercial Development Segment to Reach $711.5 Million by 2026
The commercial use of potting soil is likely to account for a considerable share in the global market; wherein the increased practice in regards to greenhouse planting is expected to further enhance the commercial usage of potting soil. The increased application and use of potting soil for commercial purposes is boosted due to the availability and accessibility of plant-specific soil. In the global Commercial Development segment, USA, Canada, Japan, China and Europe will drive the 5.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$409.1 Million will reach a projected size of US$600.7 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$65 Million by the year 2026, while Latin America will expand at a 7.5% CAGR through the analysis period. More
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