COVID-19 Impact Analysis on Global Gardening Pots Market
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global gardening pots market. In addition, complete analysis of changes on the global gardening pots market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. During COVID-19 pandemic, global gardening pots market was more or less affected due to supply chain distribution, declining demand for gardening pots from various application like agriculture which has certainly affected the market growth to major extend. However, post COVID-19 the market has witnessed the rising new growth opportunities and is expected to have emerging demand in upcoming years.
Market Overview- Global Gardening pots Market
Market Drivers
The global gardening pots market is driven by versatile increase in demand from the residential sector which has boosted the demand for the market. With the changing lifestyle, pollution, stress, increasing consumer attraction for different variety of plants has led the driving demand for the gardening pots in residential sector. Besides, most the urban cities, countries residential areas mostly buy different planters for the homes, garden which indeed has created driving demand for market in residential area. In addition, residential gardening has become one of the most popular hobby in North America region. Also, most of residential sector consumer primarily focus on the type of container to be used size, shape, and water absorption capacity among other factors which has indeed propelled the growth of the market. Moreover, home gardening further support for health benefits, environmental and enjoyment advantages for the gardeners. On the other hand, in residential, gardening acts as sort of activity for consumer, children to under plants, and about nature which further increased the requirement for the gardening pots in market.
Market Opportunity
One of the opportunities in the market growth is growing expenditure made of gardening activities. With the standard of living, attraction for nature, hobby for planting has specifically led the boosting rowing expenditure made of gardening activities and demand for the market. Ideally in gardening the expenditure is mostly based on selection of plant, soil, and type of pot/container to use for plant among others. Furthermore, in North America specifically in U.S. consumer mostly spend more than $1.3 billion a year on the gardening according to container gardening associated. Besides, the gardening pots are used for variety of plant in any type of pot/container. Also, the trends for green awareness reducing the carbon footprint is supporting the growth of North America gardening pots market. Also, with the increasing popularity among the consumer of different age group like children, adults and even geriatric population has often contributed to boost the consumer demand along with growing expenditure made on gardening activities has contributed healthy growth in North America gardening pots market. On the other hand, sales of gardening pots including refractory material, polymer, metal, wood in different distribution channel has significantly created ample of demand for North America gardening pots market further accelerating the growth of market.
Market Restraints
The major restraining factor for the market growth was COVID-19 impact on the supply chain which has certainly hampered the market growth during the forecast period. As most of raw material producer has stopped the production, which has ultimately affected the manufacturer to produce new products in gardening pots thereby pandemic has more or less affected the market to major extend. Also, raw material declining supply has certainly affected the market to major extend. Hence COVID-19 impact on the supply chain has significantly affected the market growth.
Market Growth Challenges
The major growth challenge of the market is fluctuation in raw material price.
Cumulative Growth Analysis
The report provides in-depth analysis of global gardening pots market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for various gardening pots in various applications as commercial and residential has led the increasing demand for market and is expected to witness the growth at a specific CAGR from 2022-2028.
Market Segmental Overview
The global gardening pots market comprises of different market segment like insect type, application, and geography.
Gardening pots Market by Product
The product type studied in the global gardening pots market are refractory material and polymer. The refractory material segment is likely to dominate the market during the forecast period. The increase in standard of living of people is the primary factor contributing to the growth of the gardening pots market. The rise in disposable income of people in developing economy enhanced their purchasing power. People are now ready to pay more than before for decorative items. This surged the demand for gardening pots in the market. Similarly, the nursery industry is witnessing rapid growth the usage of gardening pots in nurseries is also rising. There has been a significant shift of demand from cut flower to plant flower since last three decades which resulted in substantial growth and expansion of gardening pot industry.
Gardening pots Market by Application
The global gardening pots market finds its major application in commercial and residential. The commercial segment is likely to dominate the gardening pots market during the forecast period. The primary factors such as new product launches coupled with young gardeners setting trends for modern and unique design of flower pots and planters is propelling growth of the gardening pots market. There is a continuous innovation in the gardening pot market. Key players are trying to develop new designs of gardening pots to remain competitive in the market. Likewise, According to the National Gardening Survey done in 2019, there has been a significant raise in the number of young gardeners of age about 18 to 34 years. There is an increase in the expenditure on gardening products due to rise in interest in gardening among the customers. With this young gardener are choosing hanging planters, gardening pots and designed gardening pots and such other unique design pots to use in their small gardens. Also, the customers are shifting from traditional pots to modern designs of gardening pots.
Gardening pots Market by Distribution Channel
The various distribution channels comprised in the report are offline and online. The online segment is considered as fastest growing segment in the gardening pots market. Retail customers prefer buying products after consulting a local gardener or a gardening enthusiast for which the nearby local stores are ideal. These stores are a one-stop solution to all gardening related issues comprising fertilizer, pot, irrigation, seed, and sapling. Likewise, most people buy these platforms while buying the plant itself, which makes the physical stores more appropriate.
Gardening pots Market by Geography
The global gardening pots market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW). North America is likely to witness rising demand for gardening pots market. The key factors such as rising interest of millennial in gardening coupled with growth of young gardeners is propelling the growth of the gardening pots market. The trend of planting delicate plants in pots inside the house is rising among modern gardeners. Gardening pots has proved to be an efficient method for potting the sapling inside the house, as they are potted in certain pots and containers, which are portable as per position and direction.
Competitive Landscape Analysis
The competitive landscape analysis of gardening pots market is certainly based range of market players operating in the food & beverage market with increasing demand for production of gardening pots. Besides, number of market players offered wide range of products for different application in various geographic locations. The market has major competitive analysis based on new product launches as well as other developments.
The key players studied in market are Biodegradable Pots, East JORDAN PLASTICS INC., Garden Need, GREEN MALL, Hosco India, Landmark Plastic Corporation, Nursery Supplies Inc., THE HC COMPANIES, THE POT COMPANY, V G Plastech among others.
