Fertilizer Sticks Market To Grow With Impressive CAGR During the Forecast Period
Global Fertilizer Sticks Market is
driven by advancing agriculture sector in the forecast period, 2023-2027.
According
to TechSci Research report, “Fertilizer Sticks Market - Global Industry Size,
Share, Trends, Opportunity and Forecast, 2017-2027”, The
global fertilizer sticks market has a potential to project an impressive CAGR
toward forces growth in the period, 2023-2027, on the account of increasing
demand for the bio-fertilizers in innovative forms for better crops. Increasing
demand for the higher yielding crops is also driving the growth of the global
fertilizer sticks market in the upcoming five years. Advantages of fertilizer
sticks like gradual dissolution, supports global fertilizer sticks market
growth in the next five years. Traditional fertilizers often create mess during
application and their absorption is also compromised due to excessive supply at
once and nutrient loss through run-off. Fertilizer sticks are inserted beside
the plant and while watering the plants slowly, there sticks dissolve providing
optimum supply of nutrient in a perfect mix thus aiding the growth of the
global fertilizer sticks market in the future five years. Also, increasing
demand for green buildings, indoor farming, home gardens, etc. is also
substantiating the growth of the global fertilizer sticks market in the
forecast years, until 2027. Innovative product development and consistent
research by the market players toward development of advanced products is
further driving the growth of the global fertilizer sticks market in the
forecast period.
Furthermore,
increasing awareness among the farmers, and common population about the
innovations and aggressive brand promotions also expected to support the robust
growth of the global fertilizer sticks market in the next five years.
Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on " Global Fertilizer Sticks Market"
The
global fertilizer sticks market segmentation is based on type, application,
nutrient, distribution channel, regional distribution, and competitive
landscape. Based on type the market is fragmented into mineral sticks and
organic sticks. Mineral sticks are anticipated to hold the largest revenue
shares of the market and dominate the market segment in the upcoming five years
on the account of increasing demand for the nutrient enriched fertilizer
sticks. Organic sticks are expected to register fastest CAGR in the next five
years on the grounds of increasing demand for the bio-fertilizers in stick
form. Most of the demands are increasing from the in-home gardeners, and common
population inclined toward growing flowering plants, and fruits &
vegetables in the home gardens. The factors are also aiding to the growth of
the global fertilizer sticks market in the future five years.
On
the basis of application, the market is sub-segmented into houseplants, kitchen
& herb garden, lush green foliage, indoor plants, flowering plants, and
others. Houseplants are anticipated to hold the largest revenue shares and
dominate the market segment in the upcoming five years due to increasing
in-home gardens. Increasing high-rise infrastructure, corporate offices and
increasing demands for green buildings being promoted by government &
authority bodies is further driving the growth of the sub-segment and global
fertilizer sticks market in the next five years. Kitchen & herb gardens are
also expected to register significant growth in the future five years on the grounds
of common population inclined toward kitchen gardens and growing fruits &
vegetables. Increased awareness among the population regarding using
bio-fertilizers and advantages of fertilizer sticks further supports the growth
of sub-segment meanwhile driving the growth of the global fertilizer sticks
market in the forecast years.
Based
on nutrient, the market is further bifurcated into nitrogen, phosphorous,
potassium, humic acid, growth hormones, and others. Nitrogen sub-segment is
anticipated to dominate the market and hold largest revenue shares of the
market in the upcoming five years on the account of increasing demand for the
same in in-home gardens. The demand for Nitrogen based fertilizers stood at
110 million metric tons in 2020. This demand is further expected to
increase in the subsequent five years thus driving the growth of the global
fertilizer sticks market in the next five years.
Some
of the market players, dominating the global fertilizer sticks market are :
- Lazy Gardener
- Miracle-Gro (The Scotts Company LLC)
- Unique Industries
- Jobes Company
- COMPO Group
- My Fresh Air
- Easy Gardener Products, Inc.
The
existing market players are highly invested in research and product development
along with viable service provisions for the consumers. New market entrants may
follow similar strategies along with merger and acquisition methods for future
brand establishment.
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“Agriculture sector is a global economic
driving sector. Minor economies like India, China are heavily dependent on the
growth of agriculture industry for their yearly economic growth. Asia-Pacific
region is expected to thus dominate the regional analysis of the market.
Increasing demand for the innovative agricultural commodities, fertilizers,
pesticides, all drive the growth of the industry in the region. New market
players may focus on the consistent research such that their brand
establishment may gain some promotions and thus support the growth of the market
too,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Fertilizer Sticks Market
- Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027, Segmented
By Type (Mineral Sticks v/s Organic Sticks), By Application (Houseplants,
Kitchen & Herb Garden, Lush Green Foliage, Indoor Plants, Flowering Plants,
Others), By Nutrient (Nitrogen, Phosphorous, Potassium, Humic Acid, Growth
Hormones, Others), By Distribution Channel (Online v/s Offline), By Region”, has evaluated the future
growth potential of global fertilizer sticks and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges, and opportunities
in global fertilizer sticks market.
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