LONDON, Oct. 29, 2014 /PRNewswire/ -- US demand to grow 3.7%per annum through 2018
Demand for packaged lawn and garden consumables in the US is forecast to rise 3.7 percent annually to $9.5 billion in2018. Growth will be boosted by continued recovery in new home construction. Participation rates in do-it-yourself (DIY)gardening and lawn maintenance activitie sare also expected to rise marginally, following a decade of steady declines. Outside of the residential market, gains will be supported by improving economic conditions allowing businesses to place more emphasis on landscaping activities.
New home construction to benefit residential market
Demand in the residential market will be boosted by increased new home construction and rising personal incomes. DIY users in the residential segment will increasingly favor ready-to-use, value added formulations, often in the form of combination products such as pesticide and fertilizer blends or soil and fertilizer mixtures. In the professional segment, lawn and garden consumable demand is expected to rise as households become more able to afford professional landscaping services, often in addition to DIY lawn and garden care. Golf courses, the second largest market for lawn and garden consumables, are expected to represent a declining share of demand asreductions in overall golf course acreage partially offset a transition to moreenvironmentally friendly, higher priced products. In the remaining markets for lawn and garden consumables, demand will be supported by factors such as increased government spending, and improving economic conditions which will allow businesses to increase their landscaping expenditures.
Gardening applications to outpace lawn & other uses
Gardens are often perceived by consumers as being more environmentally sustainable than lawns, and interest in vegetable gardening in particular has expanded as many consumers consider vegetable gardening to be an enjoyable hobby and a practical method to reduce grocery expenses. As a result, demand for packaged consumables in gardening applications is expected to outpace demand in lawn and other applications. The greater availability of products specifically for use in flower or vegetable gardening will support continued interest in the consumer segment. The introduction of new formulations and blends of pesticides, fertilizers, and growing media and specially developed seed varieties will contribute to rising sales in this segment. Demand for lawn care consumables is expected to recover from the limited growth seen in the 2008-2013period, when economic difficulties made lawn care less of a priority. The increased availability of value-added, easy-to-use products is expected to boost the number of applications of pesticides and fertilizers over the course of the growing season.
South & West regions to exhibit healthiest growth
Growth in demand for lawn and garden consumables is expected to improve in every region of the US through 2018.Faster population growth and stronger recoveries in the regional economies and housing markets will contribute to healthier gains in lawn and garden consumable demand in the South and West, while growth in the Northeast and Midwest is expected to be more modest. The South will remain the most significant regional market for lawn and garden consumables, due to its large population and number of golf courses in the region.
Study coverage
Details on these and other findings are found in Lawn & Garden Consumables, an upcoming industry study, that presents historical demand data (2003, 2008, 2013) and forecasts for 2018 and 2023 by product, formulation, market, application, end user and US region. The study also considers market environment factors, evaluates company market share and profiles key US industry suppliers.
Download the full report: https://www.reportbuyer.com/product/871077/
About Reportbuyer
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
http://www.reportbuyer.com
For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: [email protected]
Tel: +44 208 816 85 48
Website: www.reportbuyer.com
SOURCE ReportBuyer
Share this article