The growing medium market size has steadily expanded in recent years, with expectations to grow from $4.16 billion in 2023 to $4.28 billion in 2024, reflecting a compound annual growth rate (CAGR) of 3.0%. This historical growth is driven by increasing food safety and health concerns, a rising population, heightened awareness among buyers, a growing demand for vegetables, and a heightened need for cannabis. Forecasts indicate that the market will grow to $4.84 billion by 2028, achieving a CAGR of 3.1%. This projected growth is attributed to rising demand for horticulture, an increase in home plant cultivation, greater spending capacity on agriculture, increasing disposable income, and a wider adoption of precision farming practices. Key trends expected in the forecast period include the integration of Internet of Things (IoT) sensors, innovations in aeroponic systems, the creation of microbial-enhanced growing mediums, the development of smart growing mediums featuring controlled release fertilizers, and advancements in eco-friendly organic growing mediums.
Global Growing Medium Market Key Driver
The increasing demand for horticulture is likely to spur the growth of the growing medium market. Horticulture encompasses the cultivation and management of garden crops, including fruits, vegetables, and non-food crops like flowers and ornamental plants. The rising demand for horticulture is influenced by consumer preferences for fresh, locally sourced produce, a shift toward sustainable lifestyles, and heightened awareness of health and wellness. Growing mediums are utilized in horticulture to provide a supportive environment for plant roots, ensuring optimal growth and development by supplying essential nutrients and maintaining moisture. The New South Wales Department of Primary Industries reported that the horticultural gross value of production for 2022–2023 is projected to be $2,989 million, reflecting a 2% increase compared to 2021–2022. Hence, the increasing demand for horticulture is driving the growing medium market.
Get A Free Sample Of The Growing Medium Market Report
Global Growing Medium Market Segments
The growing medium market covered in this report is segmented –
1) By Type: Soilless Mixes, Composts, Gravel, Inert Mediums, Other Types
2) By Distribution Channel: Online, Offline
3) By Application: Agriculture, Horticulture, Home Gardening, Greenhouses, Landscape
By Geography:The regions covered in the growing medium market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the growing medium market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
Major Growing Medium Industry Players
Israel Corporation Ltd., The Scotts Miracle-Gro Company, Neova Group, Premier Tech Ltd., Profile Products LLC, Jiffy International AS, Hydrofarm Holdings Group, Greenhouse Grower , CANNA B.V., BERA B.V, Grodan B.V., FoxFarm Soil & Fertilizer Company, Floragard Vertriebs GmbH, PittMoss LLC, Cropaia, HydraFiber, Horticultural Coir Inc., Berger, Trellis Bliss, Areapeat
Purchase The Global Growing Medium Market Report Directly And Get A Swift Delivery
Growing Medium Market Overview
A growing medium is a material or mixture used to support plant growth by providing a stable environment for root development. It supplies essential nutrients, retains moisture, and allows for aeration and drainage. The choice of growing medium depends on the specific needs of the plants and the growing conditions, impacting factors such as water retention, drainage, and nutrient availability. It is a critical component in both traditional soil-based agriculture and modern soilless growing systems.
Growing Medium Global Market Report 2023 provides data on the global growing medium market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The growing medium market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
