The global Fertilizer Sticks Market is driven by the 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 the 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.
The Important Elements of Fertilizer Sticks Market
Increasing demand for 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 support global fertilizer sticks market growth in the next five years. Traditional fertilizers often create a 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 an optimum supply of nutrients 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 the development of advanced products are 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 is 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 nutrient-enriched fertilizer sticks. Organic sticks are expected to register the fastest CAGR in the next five years on the grounds of increasing demand for bio-fertilizers in stick form. Most of the demands are increasing from the in-home gardeners, and the common population is inclined toward growing flowering plants, and fruits & vegetables in home gardens. These factors are also aiding 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 gardens, 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 are 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 the common population inclined toward kitchen gardens and growing fruits & vegetables. Increased awareness among the population regarding using bio-fertilizers and the advantages of fertilizer sticks further supports the growth of the sub-segment meanwhile driving the growth of the global fertilizer sticks market in the forecast years.
Based on nutrients, the market is further bifurcated into nitrogen, phosphorous, potassium, humic acid, growth hormones, and others. The nitrogen sub-segment is anticipated to dominate the market and hold the 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, and China are heavily dependent on the growth of the agriculture industry for their yearly economic growth. Asia-Pacific region is expected to thus dominate the regional analysis of the market. Increasing demand for innovative agricultural commodities, fertilizers, and pesticides, all drive the growth of the industry in the region. New market players may focus on 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 the global fertilizer sticks market.
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