The global potting soil market size is indicated to expand at a notable pace in the upcoming years as a result of the growing body of evidence supporting the several health benefits offered by potted plants, share Fortune Business Insights™ in its report, titled “Potting Soil Market Size, Share & Industry Analysis, By Type (All-purpose Potting Soil, Lawn & Garden Potting Soil, Professional Potting Soil), By Application (Commercial, Residential) and Regional Forecast, 2023-2030”. According to a study published in the Journal of Physiological Anthropology, plants in home or office settings lower psychological and physiological stress. Another study, conducted by researchers at the Konkuk University in South Korea, revealed that the presence of real, live plants in classrooms boosts the attention span and concentration power of students. Further, indoor gardening has been proven to have therapeutic effects as well. In 2017, for instance, researchers from the UK’s National Health Service (NHS) found that horticulture therapy increased the feeling of well-being in people suffering from depression, dementia, and anxiety. As a result, in 2019, medical clinics in Manchester began prescribing potted plants to patients with anxiety or depression symptoms. Potting soil, therefore, is likely to witness rising demand in light of such scientific evidence.
The explosion of the COVID-19 pandemic has critically contracted economic activities, afflicting industries and businesses around the world. Lockdowns and social distancing measures have stoked fears about an incipient economic recession. Supply chains have been disrupted, pushing down demand for goods and services. Governments are taking several efforts to mitigate the damage caused by this pandemic, but uncertainty continues to be prevalent. At Fortune Business Insights™, we are constantly striving to develop comprehensive research reports on various markets so as to equip your business with the necessary intelligence to emerge victorious on the other side of this crisis.
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Highlights of the Report:
- Detailed study of the market drivers, trends, and opportunities;
- Comprehensive analysis of the hindrances facing the market;
- In-depth understanding of the various market segments; and
- Exhaustive evaluation of the competitive landscape & regional developments in the market.
Restraining Factor
Limited Efficacy of Potted Plants to Remove Indoor Pollutants May Hinder Growth
One of leading factors that have stoked the adoption of potted plants in homes and offices over the years is the advantages offered by these plants in tackling indoor pollution. This pollution emerges from the volatile organic compounds (VOCs) emitted by common household products such as electrical appliances and cooking stoves. Houseplants have been believed to effectively filter these toxic substances and make air within homes cleaner and fresher. However, a recent study conducted by researchers from the Drexel University in the US found that potted plants have a very limited efficacy in removing harmful gases from indoor environments. The researchers observed that around 10 plants would be needed per square foot in a home to have any measurable impact on air quality. This would mean that a regular apartment would require roughly 5,000 plants to clean the air, which will be impossible to execute. The emergence and recognition of this new evidence dispels the myth about the environmental benefits of houseplants and may, therefore, hinder the potting soil market growth.
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Regional Insights
Increasing Availability of Indoor Planting Products to Fuel the Market in North America
North America is slated to hold a prominent position in the potting soil market share on account of the widening availability of potted plant products in the region. This is mainly attributable to the strong presence of some of the leading market companies in the region that are frequently introducing new offerings for consumers.
The market in Asia Pacific is anticipated to make steady progress owing to the increasing popularity of home gardening and the rising uptake of organic farming techniques. In the Middle East & Africa region, as a result of unfavourable weather conditions to grow plants through conventional methods, plants are being grown in greenhouses, which are expected to create huge opportunities for players in this market.
Competitive Landscape
Key Players to Focus on Investments to Advance Home-based Growing Practices
Leading players in this market are making strategic investments to fasten their hold on the market through the launch of innovative products to advance home-gardening practices. Besides this, players are also eagerly showcasing their products at the international level to secure a firmer foothold in the market.
Industry Developments:
- June 2020: The Scotts Miracle-Gro Company announced the launch of 1868 Ventures, the company’s venture capital fund worth USD 50 million, to explore innovative means to meet the rising needs of professional gardeners and growers across the US.
- December 2019: ASB Greenworld participated in the Flowers Expo held in Moscow and exhibited its hobby garden offerings. The company aims to capitalize on the growing popularity of German-made horticulture products in Russia.
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