“The turf protection market is projected to grow at a CAGR of 4.45%.”
The turf protection market is estimated at USD 5.15 billion in 2017, and is projected to reach USD 6.41 billion by 2022, at a CAGR of 4.45% during the forecast period. The primary factors driving the turf protection market are in the rising demand from residential & commercial property development including increasing number of golf courses & other sports fields around the globe, and the usage of turf protection products in Integrated Pest Management programs. The major restraining factors are stringent, yet inconsistent regulations for synthetic chemicals and the rising R&D costs associated with formulating newer active ingredients.
“The biological segment is projected to grow at the highest CAGR, by solution, during the forecast period.”
The biological segment is projected to grow at the highest CAGR during the forecast period. Stringent regulations in the European region and in several U.S. states against the usage of synthetic chemicals have led to a shift toward the usage of bio-based products. Biological products are easy to register due to not involving synthetic chemicals as a part of the formulation which makes them more popular among turf managers.
“The stress protection segment, by product, is projected to grow at the highest CAGR, during the forecast period.”
The stress protection segment is projected to grow at the highest CAGR during the forecast period. This is due to the more application areas of biofertilizers, biostimulants and other products such as micronutrients, starter fertilizers, and plant growth regulators which fall under stress protection. Biofertilizers supply live soil microbes that help improve the soil fertility and plant mineral nutrition.
“The Asia-Pacific region is projected to grow at the highest CAGR during the forecast period.”
The Asia-Pacific region is projected to grow at the highest CAGR during the forecast period. This is due to the rise in the number of sports fields, golf courses, and garden areas in countries of the Asia-Pacific region where the leisure sports-related infrastructure and tourism are promoted by governments, which in turn will increase the consumption of turf protection products in these countries.
Break-up of Primaries:
- By Company Type: Tier 1 - 55%; Tier 2 - 20%; and Tier 3 - 25%
- By Designation: C Level - 75% and Manager Level - 25%
- By Region: North America - 15%; Europe - 25%; Asia-Pacific - 30%; South America - 10%; and RoW - 20%
Key players profiled in this report are the following:
- Dow AgroSciences LLC (U.S.)
- Syngenta AG (Switzerland)
- The Andersons Inc. (U.S.)
- FMC Corporation (U.S.)
- Idemitsu Kosan Co. Ltd. (Japan)
- Epicore BioNetworks Inc. (U.S.)
- Eco Sustainable Solutions Ltd. (U.K.)
- Pure AG (U.S.)
- Lallemand Inc. (Canada)
- CoreBiologic, LLC (U.S.)
- Lucerne Biotech UK Ltd. (U.K.).
- Soil Technologies Corporation (U.S.)
- Nuturf Pty. Ltd. (Australia)
- Backyard Organics, LLC (U.S.)
- TeraGanix, Inc. (U.S.)
- Evans Turf Supplies Ltd. (New Zealand)
This report provides a picture of the turf protection market across different segments. It aims at estimating the market size and future growth potential of the market across different solutions, products, modes of application, and regions. The report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, key market strategies such as product offerings with scorecards based on selected parameters, business strategies, and recent developments.
Key Reasons to Buy the Report:
- It provides an overview of the turf protection market.
- From an insight perspective, this research report has detailed analyses?industry, market strategy of companies covering the value chain, and company profiles.
- This report also explains high-growth segments of the turf protection market, its high-growth regions, and drivers, restraints, opportunities, and challenges.
- The value chain for the turf protection market has been segmented into vanguard, dynamic, innovator, and emerging.