The shortage of Chinese ingredients, raw materials, and semi-finished goods is the latest example of the global economy’s dependence on products made in China, from iPhones to auto parts to pharma. Much of the fallout may still be hidden and is likely to play out over months. Even before the coronavirus outbreak, business investment was already in poor health in the United States. It fell in the last three quarters of 2019. Some analysts now expect more companies could soon announce reductions in their capital spending.
Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Home and Garden Pesticides market.
Trusted Business Insights presents an updated and Latest Study on Home and Garden Pesticides Market 2019-2030. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Home and Garden Pesticides market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Industry Insights, Market Size, CAGR, High-Level Analysis: Home and Garden Pesticides Market
The global home and garden pesticides market size was valued at USD 6.8 billion in 2018 and is expected to register a CAGR of 3.8% from 2019 to 2025. Growing trend of home gardening and increased expenditure on lawn and garden maintenance are the key factors boosting growth of this market. In addition, wide usage of herbicides to avoid labor-intensive work of removing unwanted plants is likely to support the market growth.
Organic pesticides, in particular, have high demand as they eco-friendly, are less toxic, and can degrade quickly. Moreover, organic pesticides support the growth of beneficial insects, such as honey bees. On the other hand, exposure to pesticides can cause headache, nausea, excessive eye watering, and dizziness.
These factors may negatively affect the overall market growth. However, rising awareness about the adverse effects of chemical-based pesticides are compelling the manufacturers to focus on R&D, which will also have a positive impact on the global industry. Thus, constant product developments in the market are likely to propel the growth.
North America is estimated to be the largest regional market over the forecasted period due to rising trend of home gardening. Whereas, Asia Pacific is estimated to be the fastest-growing region from 2019 to 2025 due to improving standards of living and rising number of residential construction activities in emerging countries.
Application Insights of Home and Garden Pesticides Market
Based on application, the market is bifurcated into garden and household. The garden application is estimated to be the largest, as well as the fastest-growing, segment over the forecasted period. Increased spending on lawn and garden care supplies is supporting the segment growth. The household application segment is also estimated to witness a considerable growth during the forecasted years. Rising concerns about pest-borne diseases and household insects, such as bed bugs and red fire ants, are projected to boost the demand for pesticides, thereby augmenting the segment growth.
Type Insights of Home and Garden Pesticides Market
Based on type, the market is segmented into herbicides, insecticides, fungicides and fumigants. The herbicides segment is estimated to account for the largest share of the global market by 2025. Herbicides are used to get rid of weeds and other harmful and unwanted plants.
Insecticides segment is witness the fastest CAGR from 2019 to 2025 on account of rising demand for insecticides. Rising popularity of botanical insecticides is also supporting the growth of this segment. Botanical insecticides are less toxic and have no or minimal effects on the environment. Fungicides are also estimated to witness strong growth over the forecasted period.
Regional Insights of Home and Garden Pesticides Market
Asia Pacific is estimated to be the fastest-growing regional market over the forecasted period. The growth is attributed to rising trend of home gardening and improving standards of living in emerging counties. Moreover, rapidly expanding real estate sector and rising number of residential construction projects are expected to support the regions growth. Increasing cases of insect-borne diseases in developing countries is also expected to boost the demand of pesticides.
North America is estimated to account for the largest market share by 2025. However, stringent regulations regarding the usage of pesticides creates challenges for market entrants. Europe is also estimated to witness a significant growth over the forecasted period on account of rising product demand in countries, such as U.K., Germany, and France.
Market Share Insights of Home and Garden Pesticides Market
Key companies in this market are Central Garden & Pet; SC Johnson & Son; Willert Home Products, Inc.; The Scotts Miracle-Gro Company; Spectrum Brands Holdings, Inc.; Bayer AG; Syngenta AG; Organic Laboratories Inc.; Reckitt Benckiser Group plc; BASF SE, and DuPont de Nemours, Inc. These companies have undertaken several strategic initiatives, such as product innovation, M&A, partnerships, and geographical expansion, to gain a higher market share. For instance, in 2019, Rentokil Steritech, subsidiary of London-based Rentokil Initial plc, acquired Active Pest Control to expand its reach in Texas. Companies are also investing in R&D to develop new products.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Home and Garden Pesticides Market Research Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global home and garden pesticides market report on the basis of type, application, and region:
Type Outlook (Revenue, USD Million, 2019 – 2030)
Application Outlook (Revenue, USD Million, 2019 – 2030)
Quick Read Table of Contents of this Report @ Home and Garden Pesticides Market Research Report 2020 | Industry Report, Industry Analysis, Key Players, Trends, Revenue, Regional Segmented, Outlook Until 2030
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