In a recent revelation, the “Global Lawn & Garden Consumables Market, By Product; By End user-Estimation & Forecast, 2017-2030” report has emerged as a beacon for enthusiasts and investors alike. Let’s embark on a horticultural journey, exploring the thriving market and its promising trajectory.
Seeds of Growth:
The market, currently valued at a robust US$ 20.72 billion in 2022, is poised to blossom into a staggering US$ 32.94 billion by 2030, sprouting at an impressive CAGR of 6.24%.
In tandem, the market’s volume, measured at 28.98 thousand tons in 2022, is forecasted to flourish at a steady CAGR of 4.99% during the projected period.
Roots of Progress:
The market’s upward climb is nourished by factors such as enhanced soil fertility, plant growth, and efficient pest control methods. However, lurking in the shadows are regulatory challenges, with stringent rules on insecticides and pesticides posing potential hurdles. Nevertheless, the emergence of new economies provides a silver lining, offering substantial growth opportunities despite cost-related challenges.
Fertilizers reign supreme, boasting a market size of $7.12 billion in 2022. On the fast track is the pesticides segment, showcasing a notable CAGR of 6.82%. In the realm of end-users, the residential sector wears the crown with a commanding 44% market share in 2022.
North America stands tall, dominating with a robust 35% market share in 2022. Meanwhile, Europe is divided into Western and Eastern regions, housing key players like the UK, Germany, France, Russia, and Poland. The vibrant Asia Pacific emerges as the fastest-growing region, driven by the green thumbs of China, India, and Japan, boasting a noteworthy CAGR of 7.05%. The Middle East & Africa, including markets like the UAE, Saudi Arabia, and South Africa, and South America, comprising Brazil, Argentina, and the rest of Latin America, add diverse hues to this global garden.
The market is predicted to unfurl at a CAGR of 6.24% from 2023 to 2030. Fertilizers take the lead in the product segment, with the residential sector standing tall as the prime end-user. North America retains its leadership, while the Asia Pacific emerges as the verdant playground of growth.
In the flourishing landscape of the Global Lawn & Garden Consumables Market, the seeds of growth are sown, promising a market value surge to US$ 32.94 billion by 2030. Fueled by factors like enhanced soil fertility and plant growth, the market faces challenges from regulatory constraints. However, the emergence of new economies brings forth lucrative opportunities. Fertilizers lead the product segment, with the residential sector reigning supreme. North America stands as the current market leader, while the Asia Pacific emerges as the fastest-growing region.