(I-BusinessNews.Com, February 05, 2020 ) The turf protection market is estimated at USD 5.15 Billion in 2017, and is projected to reach USD 6.41 Billion by 2022. The factors influencing the market growth are the rising demand from residential & commercial properties (including sports fields) and adoption of Integrated Pest Management in the turf industry, which uses a broad and systematic approach to control pests, in turn fueling the demand for turf protection products.
The turf protection market is segmented on the basis of solution, product, mode of application, and region. The solution segment is further segmented into chemical, biological, and mechanical. The market, by product, is segmented into pest protection, stress protection, and scarification. By mode of application, it is segmented into seed, foliar, and soil. On the basis of region, the turf protection market is segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World (RoW).
The primary factors driving the market include the rising demand from residential & commercial properties which includes sports fields and the adoption of Integrated Pest Management in the turf industry which uses a broad & systematic approach to control pests, in turn fueling the demand for turf protection products. The rise in the number of sport fields and leisure sports activities has translated into more demand generated for turf protection products.
On the basis of solution, the biological segment is projected to grow at the highest CAGR from 2017 to 2022. Biological products are easy to register due to absence of synthetic chemicals as a part of the formulation; this makes them more popular among turf managers. Also, stringent regulations for synthetic chemicals have fueled the demand for biological products. Biological products contain microbial, plant, or animal-based active ingredients that are formulated with macro and micronutrients and help in improving the overall condition of the turf.
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On the basis of product, the stress protection segment is projected to grow at the highest CAGR from 2017 to 2022. Grass on turf undergoes abiotic and biotic stress, similar to plants. Abiotic stress arises due to climatic extremes such as heat or cold and radiation levels. Biofertilizers and biostimulants are applied to stimulate growth and to activate soil nutrients biologically. They are also helpful in restoring soil fertility.
The Asia-Pacific region is projected to grow at the highest CAGR from 2017 to 2022. The turf protection market in the Asia-Pacific region is mainly growing due to increasing sports activities and interest in landscaping, which includes turf surfaces in some countries. The laws related to the usage of synthetic chemicals are not that stringent in the region. There is also a market for generic turf protection products in the Asia-Pacific countries which makes the product cost-effective and is demanded more by turf managers.
The key players that have been profiled in this report include 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.), and Evans Turf Supplies Ltd. (New Zealand).
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