Consumables Market Continues To Grow
The demand for packaged lawn and garden consumables is expected to increase nearly 5 percent per year to $9.1 billion in 2010. The residential market will account for more than 75 percent of this growth. These are the findings of a report released by the Freedonia Group, a market research firm based in Cleveland, Ohio.
According to the report, growth will be driven by the continued introduction of new products and expanding marketing programs. Also fueling this growth will be a general increase in landscaping activities and an increase in first-time homebuyers. Nonresidential building construction spending will also contribute to the market’s growth. Continued growth in the golf course industry is another area that will provide opportunities for growth.
Fertilizers, growing media and mulch continue to grow at an annual rate of 6 percent. The study says new products that offer consumers convenience and good performance while also meeting health and safety standards will have the best opportunity for growth. Organic products are expected to grow nearly twice as fast as conventional products but are still just a small portion of the whole market.
One of the things limiting the market’s growth will be the concern about chemical (fertilizer and pesticides) usage on lawns and gardens – especially how those chemicals affect bodies of water and the health of humans and animals. Pesticides, which make up approximately 30 percent of the market, may experience sluggish sales due to health and environmental concerns. The report also says continued pressure on lawn maintenance professionals to keep costs under control will also weigh on the market’s growth.
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