CLEVELAND, September 30, 2019 / PRNewswire / – According to the new edition of Consumables for lawns and gardens, fertilizer demand is expected to increase by 2.6% per year to reach $ 3.3 billion in 2023. Lawn and turf maintenance will continue to dominate lawn and garden fertilizer applications – accounting for 71% of the market in 2023 – as most homes and many commercial and institutional establishments have lawns that require maintenance. care.
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Volume growth in this app will be limited by:
- a reduction in the size of maintained grassy areas in American homes
- the continued decrease in the area of golf courses and the continued reduction in fertilizer application in this market
Growth in value for lawn and lawn fertilizers will be boosted by:
- the continued popularity of improved formulations, with suppliers continually refining these formulations to deliver new and higher value products
- the use of more informative packaging and marketing programs, which will encourage consumers to regularly fertilize their lawns and use higher-value products that are either more specialized or more effective
The fertilizer demand in all other applications will benefit from:
- increasing availability of specialty products targeted at specific plants such as roses, tomatoes and fruit trees
- increased interest in gardening, especially food gardening, among millennials
- an aging population, as more consumers will retire and be able to engage in recreational gardening
Contact Corinne Gangloff for an interview with the analyst Dan Debelius or project manager Jennifer Mapes-Christ.
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SOURCE The Freedonia Group