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Growth, trends & forecasts in global turf and ornamental chemical inputs market
The global market for turf, ornamentals chemical inputs, deals with provision and sale of different types of turf and ornamental modern scientific inputs like pesticides, fertilizers and plant growth regulators (PGR) for proper management and upkeep of turf and ornamental grass.
Rising demand for IPM Practices, growing affluence among consumers and enhanced awareness, are the factors that are driving the market demand for chemical inputs in turf and ornamental sector. IPM Practices in upkeep of crops are particularly popular in the developed world. Regulatory issues in some parts of the world and high initial installation, application costs threaten the chemical inputs market growth in short term. However, the market trend still shows a very impressive growth trend in the next five years.
A glimpse at the statistics:
For the last 5 years, the global turf and ornamental input industry has been growing at a steady rate and is expected to grow similarly at a CAGR of 4.2% during the forecasted period of 2015-2020. North America and Europe are matured markets for Turf & Ornamental inputs with over 66% of the market share. The Asia-Pacific market is the fastest growing market globally and it is expected to grow at a higher CAGR of 5.1% during the forecasted period.
The report has been segmented on the basis of Turf & Ornamental type plants, by synthetic chemical inputs and by region. Around 29% of turf inputs market share is covered by Bermuda grass alone while that of 21% is accounted by Ravenna in ornamental input market. While fertilizers were the highly employed input accounting to over 84% of the input market share, increased pest infestation is expected to drive the pesticide input market with a higher CAGR of 5.43% during the forecasted period.
The report further shows market structure, trends and growth prospects in five regions and their relevant countries. North America and Europe will continue to be the largest regions for employing inputs like pesticides, in the upkeep of turf and ornamental grass. Growth is particularly high in the countries such as China, Japan, Australia and France because of increased turf industry in the regions aided by the increasing popularity for sports and recreational fields in the region.
According to Mordor Intelligence research and analysis, BASF, Bayer, Syngenta, Best Forage LLC etc. are the most active companies operating in Turf and Ornamental chemical inputs market. The global Turf & Ornamental Inputs market has many global as well as regional players mainly in crop protection business.
In this report, The Global Turf & Ornamental Input Market is segmented by Type of grass both Turf and Ornamental, by synthetic chemical inputs and by geographic regions. Market size and forecast are provided for each of these regions in the report.
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Ms. Swathi S Kumar
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