CLEVELAND, March 17, 2016 /PRNewswire/ -- US demand for home and garden pesticides is projected to rise 3.1 percent per year to $2.4 billion in 2020. In the lawn and garden segment, gains will be supported by ongoing growth in new housing completions -- particularly of new single-family homes -- and by increasing consumer spending on and interest in lawn care and gardening. Gains will be further buoyed by the ever-expanding availability of ready-to-use products in convenient packaging. These and other trends are presented in Home & Garden Pesticides, a new study from Freedonia Group, a Cleveland-based industry research firm.
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Insecticides account for the majority of pesticides used in the home and garden market, and are expected to continue to do so for the foreseeable future. Insecticides' prominence is largely due to their use in household applications, where insect controls and insect repellents are by far the most common pesticides in use. "In household applications, rising consumer awareness of pest-borne diseases such as West Nile virus and Zika virus will promote rising demand for insect repellents," notes analyst Emily Park. Insecticides also represent a sizable share of the lawn and garden segment, although herbicides are the larger product category in these applications. The best opportunities for growth in insecticide demand are expected for products with improved safety features, such as less toxic concentrations and formulations, and packaging that reduces user exposure to the pesticide. Of particular concern are the potential adverse effects of insecticides on beneficial species such as honeybees.
Herbicides will remain the largest product category in lawn and garden applications. Gains will be fastest for products used in gardening activities, including ornamental and edible gardening. The greater variety of ready-to-use products, combination herbicide and fertilizer formulations, and products tailored for specific types of gardens will support growth going forward. Fungicides and other types of pesticides will continue to see limited use in the home and garden market. Fungicides will benefit from growth in consumer interest in vegetable and herb gardening, and from an expanding selection of products to treat lawns and household mold problems. Other pesticides such as animal repellents and rodenticides will benefit from the continued reformulation of conventional products that are hazardous to children and pets.
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, market share information and profiles of the leading industry players. Reports can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group