(Australia-NewsWire.Com, February 06, 2018 ) The Asia-Pacific Turf & Ornamental Inputs Market was worth $0.95 billion in 2016 and estimated to be growing at a CAGR of 4.98%, to reach $1.21 billion by 2021. This market has gained popularity for the manufacture and upkeep of high quality turf grasses and ornamentals.
It deals with the delivery and trade of several types of modern turf and ornamental scientific inputs such as pesticides, fertilizers and plant growth regulators for the proper management and upkeep of turf and ornamental grass.
The growth of the Asia-Pacific Turf & Ornamental Inputs market is majorly driven by factors such as rapid advancement of the tourism industry, increasing area of land under golf courses and gardens, and better awareness about the scientific upkeep of turf & ornamentals. However, factors such as regulatory issues and high installation & usage costs are preventing the growth of the market in this region.
The Asia-Pacific Turf & Ornamental Inputs market is segmented based on Synthetic Chemical Inputs, Type of Turf Grass, and Type of Ornamental Grass. The market for Turf & Ornamental Inputs, on the basis of Synthetic Chemical Inputs, is classified into Fertilizers, Plant Growth Regulators, Pesticides, and Others. The Fertilizers segment is the largest segment, by Synthetic Chemical Inputs, with a market share of around 74%. On the basis of Type of Turf Grass, the Turf & Ornamental Inputs market is segmented into Zoysia Grass, Rye Grass, Bermuda grass, Blue Kentucky Grass, Tall Fescue, and Others. Bermuda grass leads this segment, with a market share of around 25% and is also projected to be the fastest growing segment. On the basis of Type of Ornamental Grass, the Turf & Ornamental Inputs market is segmented into Fountain Grass, Ravenna grass, Feather Reed Grass, Purple millet, Fibre Optic Grass, and Others. This segment is led by Ravenna grass with a market share of around 32%.
The Asia-Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. This region has the fastest-growing market during the forecast period, with countries such as China, India, Japan, and Australia showing high growth rates due to the continuously expanding turf industry. The growth of the market has been aided by the mounting popularity for sports and leisure activities in this region.
The market is categorized by the existence of diversified international and national companies, where the global retailers lead the market and are predicted to grow exponentially by securing regional or local players. The major companies dominating the Turf & Ornamental Inputs market in this region are Bayer, Syngenta, BASF, Best Forage LLC, Chemtura Agro Solutions, American Vanguard Corporation, Dow Agro Sciences, Adama Agricultural solutions and Nufarm Ltd.
Market Segmentation 1) By Synthetic Chemical Inputs • Fertilizers • Plant Growth Regulators • Pesticides • Others
2) By Type of Turf Grass • Zoysia Grass • Rye Grass • Bermuda grass • Blue Kentucky Grass • Tall Fescue • Others
3) By Type of Ornamental Grass • Fountain Grass • Ravenna grass • Feather Reed Grass • Purple millet • Fibre Optic Grass • Others
About Us: Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, we cater to the needs of both individual and corporate clients. Our analyst team comprises expert professionals in market research, who with their collective knowledge and skillset dedicatedly serve clients from various industries and regions