Global Turf and Ornamental Crop Protection Market To Be Valued US$ 5,047.6 Mn by 2023
Global Turf and Ornamental Crop Protection Market To Be Valued US$ 5,047.6 Mn by 2023
“The Global Turf and Ornamental Crop Protection Market poised to reach US$ 5,047.6 Million by 2023 with a significant CAGR over the forecast period (2018-2023) owing to increase in the number of golf courses and sports grounds”
Precision Business Insights (PBI) in its report titled “Global Turf and Ornamental Crop Protection Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2017 and Forecast 2018-2023” assesses the market performance over the forecast period (2018-2023). The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The global turf and ornamental crop protection market was valued at US$ 3,821.2 Million in 2017 and projected to reach US$ 5,047.6 Million by 2023 owing to increase in the number of golf courses and sports grounds throughout the world, for instance, In 2015, a total of 34,011 golf courses were identified worldwide. Additionally, many golf courses are under construction, driven by the popularity of the sports among athletes, rise in awareness about the maintenance of turf and ornamental grass, and rise in concerns about the usage of pesticides are anticipated to propel the global turf & ornamental crop protection market. However, high cost of the turf & ornamental crop protection products, stringent regulations to use of pesticides, and escalation in the adoption of artificial turf are hinder the growth of global turf and ornamental crop protection market over forecast years.
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Global turf and ornamental crop protection market segmented on the basis of grass type, origin, product type, mode of application, and region
Turf grass accounted for higher revenue share
Based on grass type global turf and ornamental crop protection market segmented into turf grass and ornamental grass. Turf grass protection market accounted for larger revenue share in 2017 and projected to dominate over the forecast period owing to increase in the adoption of Bermuda grass, zoysia grass, and centipede grass due to the tolerance towards drought and adverse environmental conditions. However, ornamental grass protection segment projected exhibit lucrative growth, which is mainly attributed to increase the trend towards home grown lawns, ornamental plants enables create demand for pesticides in future.
North America leads the Global Turf and Ornamental Crop Protection market
PBI’s global turf & ornamental crop protection market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis, North America accounted for larger revenue share through 2012-2017 and the same trend is projected to follow over 2018-2023 owing to increase in the number of golf courses and sports grounds in the region.
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Innovation of newer products, strong intellectual property portfolio, and strategic alliances are the key strategies adopted by market players
Global turf & ornamental crop protection market further reveals that the key players increasingly adopting strategies such as innovation of newer products and high number of patent filings, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, Dow Agrosciences has filed around 1,041 in U.S. and 4,603 worldwide till date in crop protection
Key player’s profiles in the report are Syngenta AG (Switzerland), Dow AgroSciences LLC (U.S.), The Andersons Inc. (U.S.), Idemitsu Kosan Co. Ltd. (Japan), FMC Corporation (U.S.), Evans Turf Supplies Ltd. (New Zealand), Epicore BioNetworks Inc. (U.S.), Pure AG (U.S.), Eco Sustainable Solutions Ltd. (U.K.), CJB Industries, Inc. (U.S.), Sharda USA LLC, Martenson Turf Products, Inc. (U.S.)
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Detailed Segmentation
By Grass Type
Turf Grass
Rye Grass
Blue Kentucky Grass
Zoysia Grass
Tall Fescue
Bermuda Grass
Other Turf Grass
Ornamental Grass
Feather Reed Grass
Fountain Grass
Fibre Optic Grass
Ravenna Grass
Purple Millet
Other Ornamental Grass
By Origin
Organic
Synthetic
By Product Type
Insecticide
Fungicide
Herbicide
Others
By Mode of Application
Soil Treatment
Foliar Spray
Geography
Geography
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Russia
Poland
Rest of Europe
Asia-Pacific
Japan
China
India
Australia & New Zealand
ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Argentina
Venezuela
Rest of Latin America
Middle East and Africa (MEA)
Gulf Cooperation Council (GCC) Countries
Israel
South Africa
Rest of MEA
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