The global home and garden pesticides market size is expected to register a revenue of USD 8.8 billion by the end of 2025, according to a new report by Million Insights. It is expected to grow with a CAGR of 3.8% over the forecast period, 2019-2025. This growth can be attributed to the increase in expenditure for maintenance of lawns and gardens coupled with the shifting trend of indoor gardening.
Rising usage of organic pesticides due to their less toxic and eco-friendly nature is anticipated to further fuel the market demand. Moreover, its instant biodegradation property is expected to further fuel the market. In addition, rising awareness about health hazards among the manufacturers, have paved their way for investing more in R&Ds for innovation and product development.
In 2018, garden application segment held the largest market share across the global market and is expected to register highest CAGR in the upcoming years. This growth can be attributed to rising expenditure on garden and lawn care products. The household application segment is also expected to witness strong growth from 2019 to 2025.
The herbicides segment held the largest share in the global home and garden pesticide market in 2018 owing to its usage for getting rid of insects, weeds and other hazardous parasites. The segment of insecticides is anticipated to register the highest growth rate due to rising plant health issues due to insects.The product segment of fungicides is also anticipated to register significant growth in the upcoming years.
Asia Pacific is anticipated to witness the highest growth rate due to number of factors like improved standard of living, rapid urbanization and increasing population across countries like China and India. Moreover, the emerging sector of real estate has paved the way for the rise in residential projects of construction.
The key players in this market areThe Scotts Miracle-Gro Company; SC Johnson & Son; Central Garden & Pet; Bayer AG; Organic Laboratories Inc.; and Syngenta AG. They are constantly engaged in gaining acquisitions, mergers, geographical expansion, and partnerships.
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Further key findings from the report suggest:
• The segment of insecticides is anticipated to register the highest CAGR of 4.4% from 2019 to 2025 owing to its less-toxic nature.
• Asia Pacific is projected to grow at fastest pace due to rising number of residential construction projects.
• Key players operating in this market are The Scotts Miracle-Gro Company; SC Johnson & Son; and Central Garden & Pet.
Million Insights has segmented the global home and garden pesticides market on the basis of type, application, and region:
Home and Garden Pesticides Type Outlook (Revenue, USD Million, 2015 – 2025)
Home and Garden Pesticides Application Outlook (Revenue, USD Million, 2015 – 2025)
Home and Garden Pesticides Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa