NEWARK, Del, Dec. 14, 2023 (GLOBE NEWSWIRE) -- The global home and garden pesticides market is likely to jump from US$ 8,305 million in 2023 to US$ 16,229 million by 2034. The market is anticipated to grow at a 6.50% CAGR over the upcoming decade.
The rising consumer interest in landscaping and gardening activities, as well as rising investments in urban greenery development, are some of the factors propelling market demand.
The fact that many cities place great importance on having well-kept yards, which requires efficient insect control in gardens, lawns, and other outdoor areas, drives lawn and garden pesticide demand. Manufacturers are constantly introducing new and innovative products with new features, which is expected to create significant opportunities in the home and garden pesticides market.
Organic pest solutions are becoming increasingly popular, particularly in older structures and residential complexes with poor cleaning standards. This trend is growing in popularity as people become more conscious of the harmful effects of traditional pesticides on human health and the environment. Companies that offer comprehensive pest management services have a competitive advantage over smaller competitors.
Companies are growing their presence in new markets across the globe. Companies have developed strategic relationships with retailers to boost their reach and brand recognition, which is projected to drive the market during the forecast period.
The increased use of environmentally friendly pesticides is projected to provide profitable business prospects. Manufacturers that maintain consistent quality in pesticides lead the market growth.
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Manufacturers are creating strong brand identities through effective marketing strategies in order to boost customer retention. Manufacturing processes are being improved, and the supply chain is being optimized in order to enhance capacity and meet increased demand.
Key Takeaways from the Home and Garden Pesticides Market
- The global home and garden pesticides market is estimated to register a CAGR of 6.50% with a valuation of US$ 16,229 million by 2034.
- The herbicides segment dominates the global market, with a share of 42.30% of the market.
- With a 72.20% market share, the garden segment significantly drives the global market.
- The United States is anticipated to dominate the global market by registering a 5.90% CAGR during the forecast period.
- The market in China is expected to register a CAGR of 8.00% through 2034.
- The market in Germany is anticipated to secure a CAGR of 5.30% during the forecast period.
“Growing demand for eco-friendly and sustainable pest control solutions, as consumers increasingly prioritize health and environmental considerations. Need for industry stakeholders to innovate and align with evolving consumer preferences to capitalize on emerging opportunities in this dynamic market." says Sneha Verghese, Senior Consultant for Consumer Goods and Products at Future Market Insights
Key Players and Strategies for Success in the Home and Garden Pesticides Market
In recent years, there has been a surge in investment and collaboration within the industry with venture capital firms and businesses. These strategic partnerships and financial investments aim to accelerate research and development, scale production, and expand market reach.
Key Market Players:
- The Scotts Company LLC
- S.C. Johnson & Sons Inc.
- Syngenta
- Reckitt Benckiser Group PLC
- BASF SE
- Willert Home Products
- Willert Home Products
- Central Garden & Pet Company
- Bayer AG
- Organic Laboratories, Inc.
- DuPont de Nemours, Inc.
Recent Developments in the Home and Garden Pesticides Market
- In 2021, Profitero, Inc. is partnering with Central Garden & Pet to expand its reach through online platforms. This collaboration will give Central Garden & Pet access to its eCommerce business through its retail partners.
- In 2020, Bayer AG recently announced a collaboration with Prospera Technologies Inc. to provide a combined digital solution for vegetable greenhouse producers. This unique technology is expected to assist Bayer AG customers in making better decisions and enhance profitability and sustainability in their operations.
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Key Market Segments
By Type:
- Insecticides
- Fungicides
- Fumigants
- Herbicides
By Application:
- Household
- Garden
By Region:
- North America
- Latin America
- East Asia
- South Asia
- Europe
- Oceania
- MEA
Authored by:
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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