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.
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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.
“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.