Turf Protection Market worth $8.1 billion by 2028 - Exclusive Report by MarketsandMarkets™
CHICAGO, April 20, 2023 /PRNewswire/ -- The Turf Protection Market is projected to reach USD 8.1 billion by 2028 from USD 6.4 billion by 2023, at a CAGR of 4.9% from 2023 to 2028 according to a report published by MarketsandMarkets™. The market for turf protection by solution is experiencing growth due to the increasing demand for biological products due to increase in environmental awareness.
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Demand for Biological products drive the market due to increase in environmental awareness
Biological products are those that contain active compounds that are derived from microbial, plant, or animal sources and are prepared with micronutrients to help improve the general condition of the grass. Bio-based ingredients such as plant & animal extracts and fungi in biological products are more effective in controlling insects and pests found in turf; they also have less carcinogenic effects over prolonged usage, which makes them more favorable among turf managers. Colonies of helpful microorganisms multiply in the soil, which helps in enhancing soil quality by facilitating the availability of fertilizers and crucial nutrients to the turf. The use of herbicides and insecticides has the potential to contaminate groundwater; however, biological management of the grass may be able to reduce this risk. This makes biological turf protection more popular and with increased focus on usage of natural products, demand for biological turf protection remains optimistic
By application, sports turf category hold a significant market share during the forecast period
Sports activities that take place on natural grass turf require proper maintenance and protection to ensure the safety and longevity of the playing surface. Turf protection products such as chemicals, biostimulants, and other solutions play a critical role in achieving this goal. Chemicals such as herbicides, fungicides, and insecticides can help to control pests, weeds, and diseases that can cause damage to the turf.
Biostimulants, on the other hand, promote healthy growth by enhancing the soil structure, increasing nutrient uptake, and improving root development.
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South America to boost market growth during the forecast period
The South American region is segmented into Brazil, Argentina, and Rest of South America ( Chile and Colombia). The South American turf protection market is expected to grow in the coming years, driven by various factors such as the increasing demand for sports turf, the growing popularity of sports, and the development of sports infrastructure in the region. Brazil is the largest market for turf protection in South America, accounting for a significant share of the regional market. The country has a large number of sports clubs and facilities. Argentina, Chile, and Colombia are other key markets for turf protection in South America. These countries have a growing sports culture and have been investing in sports infrastructure in recent years.
The key players in this market include Syngenta Crop Protection AG (Switzerland), UPL Limited (India), Corteva Agriscience (US), Nufarm (US), Bayer AG (Germany), BASF SE (Germany), SDS Biotech K.K. (Japan), AMVAC Chemical Corporation (US), Bioceres Crop Solutions (Argentina), Colin Campbell (Chemicals) Pty Ltd (Australia), ICL Group Ltd. (US), Andersons, Inc. (US), FMC Corporation (US), Soil Technologies Corporation (US), CoreBiologic (US). The study includes an in-depth competitive analysis of these key players in the turf protection market with their company profiles, recent developments, and key market strategies.
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