CLEVELAND, Feb. 8, 2021 /PRNewswire/ — Through 2024, demand gains for fertilizers – the largest segment in the $9 billion US lawn and garden consumable market – will be supported primarily by changes in product mix rather than from advances in volume demand due to market maturity:
- Increased sales of value-added products that promote convenience and ease-of-use are expected to drive demand growth, especially as more consumers have taken to gardening as a hobby during the COVID-19 pandemic. The best growth opportunities are expected for products targeted to specific applications – e.g., vegetable cultivation – or that emphasize convenience.
- Organics also represent a key growth area. Though expected to remain a relatively small portion of the fertilizer market, organics are expected to increase penetration as the selection of products continues to grow.
Demand for Organic Fertilizers to Grow 5.8% Annually Through 2024
Through 2024, organic fertilizer sales are expected to outpace gains in conventional fertilizers and increase their share of the $3 billion US fertilizer market to 7%, supported by:
- growing interest in food gardening, as participants in this type of gardening are more likely to purchase organic fertilizers
- an increasing share of millennials participating in gardening, as they are more likely than other demographics to use organic products
- increased availability and education about organic products, both in retail channels and via professional service firms
- rising public awareness of the potential effect of agricultural chemicals on user health and the broader environment
However, the organics market will remain small for the foreseeable future due to consumers’ expectations for fertilizers:
- Consumers are accustomed to the quick greening and growth that can be achieved with synthetic fertilizers, which offer high concentrations of nitrogen, phosphorus, and potassium.
- They also expect fertilizer to be relatively low-cost and free from unpleasant smells, which organic fertilizers commonly have.
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Lawn & Garden Fertilizers, a spinoff of Lawn & Garden Consumables, is now available from The Freedonia Group. This report covers the US market for lawn and garden fertilizers, which include packaged consumable fertilizers used in the maintenance of lawn and turf, gardens and borders, and other outside areas. Demand by product, market, and end user (consumer/DIY and professional/DIFM) is shown at the manufacturers’ level. Historical data (2009, 2014, and 2019) and forecasts for 2024 and 2029 are provided for lawn and garden fertilizers in current dollars.
Products include:
- solid (or dry) fertilizers – including granules, powders, spikes
- liquid fertilizers
Markets include:
- residential
- golf courses
- government and institutional
- commercial and industrial
- commercial nurseries and garden centers and other markets such as sod farms, cemeteries, and turf areas in privately owned sports venues
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, and market share information. Studies 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
