A study conducted by the Freedonia Group on lawn and garden consumables predicts increased demand for products like fertilizers, pesticides, growing media, seeds, mulch and other related products to the tune of 3.4 percent per year through 2014. The group is forecasting the industry to be worth $9.2 billion by 2014.
The study cited food safety concerns that are creating renewed interest in home gardening, as well as the potential for a rebounding housing market that will provide new landscaping opportunities.
The report also talked about a graying baby boomer generation as a favorable demographic trend, because they will be “primed” for peak gardening years. Residences in more affluent areas with larger yards will also boost demand for lawn and garden products.
The Freedonia Group says growth will be led by fertilizers and growing media, “both of which will post above average gains over the forecast period. Sales of organics also will “experience more favorable increases” over conventional formulations.
The full report is available for download at MarketResearch.com for $4,900.