Enjoy complimentary customisation on priority with our Enterprise License!
The germination kits and trays market size is estimated to grow at a CAGR of 5.68% between 2023 and 2028. The market size is forecast to increase by USD 185.18 million. The growth of the market depends on several factors, such as the growing demand for exotic fruits, vegetables, and flowers, the availability of funding for startups and farmers for indoor agriculture involving germination kits and trays, and the growth in population drives demand for food. Our report examines historical data from 2018 - 2022, besides analyzing the current market scenario.
This report extensively covers market segmentation by end-user (commercial and residential), type (disposable biodegradable trays and reusable trays), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
Germination Kits and Trays Market Forecast 2024-2028
To learn more about this report, Request Free Sample
Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
There is an increase in demand for food due to the growing population. However, the loss of agricultural land and climatic changes remain significant challenges for this ever-increasing population. For instance, almost seven million hectares of agricultural land have been shrinking every year due to urbanization, industrialization, and soil erosion, cases of extreme weather events including droughts, and extreme rainfall, are also becoming more frequent due to global warming.
Moreover, to offer food security to the increasing population, non-conventional farming methods including indoor farming, vertical farming, and greenhouses are increasing. Furthermore, agriculturalists in these markets, as well as individuals who have their own terrace gardens, grow plants on balconies, or have small gardens, are using germination kits and trays. Hence, such factors are positively impacting the market. Therefore, it is expected to drive the market growth during the forecast period.
Global warming has the ability to disrupt rainfall patterns, and the water table may decline in many regions. As a result, this may lead to a significant impact on the harvest of crops that need large quantities of water. In addition, indoor agriculture usually results in more crops per drop.
Moreover, more harvest per unit area of land but on the other hand, less water requirement for a given amount of harvest. As a result of these factors, the adoption of indoor agriculture. Hence, such factors are positively impacting the germination kits and trays market. Therefore, it is expected to drive the market growth during the forecast period.
A significant percentage of farmers in developing countries are small and marginal farmers. In addition, these farmers mostly engage in subsistence farming and usually depend on agricultural practices that require the minimum input of technologies, capital, labor, and supervision to keep their operational expenditures as low as possible.
Moreover, small and marginal farmers do not have enough exposure to agricultural science. For instance, modern agricultural techniques, such as greenhouse and vertical farming, require considerable exposure to agricultural science. Furthermore, indoor agriculture requires a farmer to know what kind of lighting and climate control systems are required. Hence, the lack of exposure to modern agricultural practices can negatively impact the market. Therefore, it is expected to hinder the market growth during the forecast period.
The commercial segment is estimated to witness significant growth during the forecast period. There is an increase in demand for food due to an increase in global population. As a result, it will encourage farmers to practice indoor and urban farming. Furthermore, several factors including the advent of new technologies, including automated systems and energy-efficient light-emitting diode (LED) lighting will significantly contribute to the growth of this segment.
Get a Customised Report as per your requirements for FREE!
The commercial segment was the largest segment and was valued at USD 344.13 million in 2018. Moreover, one of the revolutionary methods of farming includes hydroponics. Hydroponics comprises the process of growing plants by using mineral nutrient solutions in sand, gravel, or liquid without using soil. In addition, the commercial hydroponics sector is growing rapidly due to the growing success rates associated with it and the growing challenges associated with cultivating crops on land. Moreover, along with the market expansion, the manufacturers of hydroponic equipment are focusing on the development of new efficient systems. Furthermore, the growing demand for greenhouses and vertical farming will certainly drive the growth of the global germination kits and trays market in the region. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
Based on type, the segment is classified into disposable biodegradable trays and reusable trays. There is an increasing adoption of disposable trays segment by gardeners, nurseries, and commercial growers looking for a convenient and eco-friendly solution. One of the main benefits of single-use disposable plastic trays is that they minimize waste and the carbon footprint that comes with them. Moreover, the increasing need for single-use, disposable trays has been driven by a variety of factors such as the growing awareness of the environmental impact and the desire for sustainable products. Therefore, there is an increasing demand for eco-friendly options that are compatible with their values, making single-use trays an appealing option. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
For more insights on the market share of various regions Download Sample PDF now!
North America is estimated to contribute 32% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. The increase in demand for the technologies used in indoor agriculture is fuelled by the availability of capital from PE firms, angel investors, and banks in the US. In addition, Canada and the US are also beginning to see the emergence of startups engaged in indoor agriculture.
Moreover, strong support from local, provincial, and federal governments also makes it easy for farmers to invest in indoor agriculture, especially in the US and Canada. For example, the US government offers multiple grants to encourage farmers to adopt hydroponic farming, which is a type of indoor agriculture. In addition, several grants are offered for packaging, labeling, and delivery equipment. Hence, such factors drive the market growth in North America during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global germination kits and trays market witnessed a significant slowdown due to the temporary closure of a number of associated businesses and industries in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to a surge in the demand for both outdoor and indoor farming, which is attributed to its methods of increasing yield by reducing the use of resources, including land, labor, fertilizer, and water. Such factors are expected to drive the market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Back to the Roots Inc: The company offers germination kits and trays such as Greenhouse germination refill kit, Organic seeding trays, and Plantable seed starting pot and trays.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Bootstrap Farmer, CMI Marketing Inc., Gardzen, Garland Products Ltd., Good Roots Barn Ltd, Hydrofarm LLC, Japeto Ltd, JIFFY PRODUCTS INTERNATIONAL BV, Johnnys Selected Seeds, Malton Plastics UK Ltd., MPLUS INDUSTRY, Namdeo Umaji Agritech I Pvt. Ltd, Ningbo Seninger Plastics Co. Ltd., Plants Guru, The Affordable Organic Store, The Scotts Miracle Gro Co., Viagrow, W. Atlee Burpee and Co., and WE Hydroponics
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The germination kits and trays market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Germination Kits And Trays Market Scope |
|
Report Coverage |
Details |
Page number |
155 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.68% |
Market Growth 2024-2028 |
USD 185.18 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.56 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 32% |
Key countries |
US, Canada, China, Japan, and The Netherlands |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Back to the Roots Inc., Bootstrap Farmer, CMI Marketing Inc., Gardzen, Garland Products Ltd., Good Roots Barn Ltd, Hydrofarm LLC, Japeto Ltd, JIFFY PRODUCTS INTERNATIONAL BV, Johnnys Selected Seeds, Malton Plastics UK Ltd., MPLUS INDUSTRY, Namdeo Umaji Agritech I Pvt. Ltd, Ningbo Seninger Plastics Co. Ltd., Plants Guru, The Affordable Organic Store, The Scotts Miracle-Gro Co., Viagrow, W. Atlee Burpee and Co., and WE Hydroponics |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Customized Report as per your Business Needs
Let us help you make report more suited to your requirements.
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. You may change your settings based on a legitimate interest at any time, by selecting “Manage Settings” on our site. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.