Artificial grass turf market: Key market research findings
- Increased demand for outdoor landscaping
- Shift towards third generation artificial grass turf
Technavio has released a new market research report on the global artificial grass turf market, which is predicted to grow at a CAGR of around 12% between 2015 and 2019. From sports fields, the application of artificial grass turf has expanded to residential and commercial landscaping. Of late, artificial grass has found usage in various indoor and outdoor residential buildings, commercial buildings, amusement parks, community events, concert venues, amphitheatres, carnivals, and airports.
“High demand for quality playing surfaces has intensified the creation of third generation artificial grass turf, which gives the look of natural grass. The third generation artificial grass turf has long fibres and is made of softer polyethylene. Besides, it is safe, can be used more frequently and provides longer playing sessions,” says Sriram Mohan, Lead Analyst, Consumer Goods & Retail, Technavio Research.
Currently, EMEA occupies the largest market share in the global artificial grass turf market with UK, Germany, and France being the key revenue contributors in this region. However, APAC region is expected to be the fastest growing region in the global market during the forecast period posting a CAGR of around 15%. Growing interest of middle class income groups in landscaping and new product innovations by manufacturers are fuelling growth of artificial grass turf in this region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for growth, as well as the segments with the maximum growth potential.
Artificial grass has low operational costs and is time-saving, as it does not require mowing, trimming, watering, and pesticides or fertilizers. Also, it conserves water and helps in low water bills. With the landscaping of outdoor spaces and yards gaining traction, the shift towards artificial grass for decorative purposes is on the rise. Moreover, its added features like modern draining system and the availability of various designs and colors have increased their demand in the aesthetic sense.
The leading vendors in the global artificial grass turf market are CoCreation Grass, FieldTurf, GardenGrass, GrassTex, SYNLawn, and The GreenFields. This market is dominated by the key vendors, who compete on the basis of basis of product differentiation, portfolio, and pricing.
A more detailed analysis is available in the Technavio report, Global Artificial Grass Turf Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
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