Demand For Fertilizer Increasing
By 2016, demand for lawn and garden consumables will reach $8.8 billion, according to a recent study by The Freedonia Group, Inc. The study concludes that demand for these products will increase 3.3 percent annually, which may equate to more landscaping business nationwide. Pesticides and fertilizers are predicted to sell the most.
As the housing market improves, which will lead to landscaping, the demand for fertilizers will continue to increase. Even though fertilizer sales were down less than one percent in the last five years, the study projects it will rise 4.4 percent by 2016.
Pesticide market profits will grow slower due to the many off-patent options and growing concern over the environmental impact. However, the organic lawn and garden market will increase.
Over the last five years, seed has seen a 2.6 percent increase in demand, growing media has grown 1.3 and mulch has added 0.7 percent. Over the following five years, demand for those products is expected to rise 4.1 percent, 3.9 percent and 3.4 percent, respectively.