The global sports seed market was valued at USD 836.7 million in 2015, and it is expected to witness a CAGR of 10.2% during the forecast period 2017 - 2022.
Changing Lifestyle and Preference for Luxury, Driving the Market
Growth of the turf industry is proportional to the turf seed quality used for cultivation. Developing a turf grass scientific cultivar involves an extensive process of crossing, selecting, and trialing potential cultivars. Improved seed varieties, increased number of tournaments, and lifestyle changes are some of the factors that drive the turf seed market. There are increased number of research studies ongoing for the development of drought tolerant, and other types of turf around the world. For instance, Grass Traits and Varieties (GTV) program represents research on a wide breadth of target traits for grass cultivars in the United Kingdom.
Increase in cost for growing turf, decrease in yields, and shift toward use of artificial turf restrains the growth of the market. High adoption of artificial turf is witnessed in various sports tournaments, more so because of the environmentally responsible maintenance with no wastage of water and agrochemical use.
Will North America Retain Its Position?
World trade of turf grass seed revolves around five major players. The United States is by far the largest producer and exporter of grass seed in the world. This is followed by the EU15 as a whole, then Canada and New Zealand follow. The other nations of significance in are Argentina and the Czech Republic.
Get the Full Report Here: Global Sports Turf Seed Market
The major market segmentations in the report include market estimate by type, such as creeping bent grass, blue Kentucky grass, tall fescue, rye grass, Bermuda grass, zoysia grass, bahia grass, and others. By application, the market is segmented into – golf, football, baseball, and others, with golf holding the largest market share. Also, by geography, the market has been segmented into North America, Europe, Asia-Pacific, South America, and Africa.
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About the Author: Srishti Sharma works as a Research Associate with Mordor Intelligence, a market research and consulting firm based in Hyderabad, India, with expertise in accurate research and analysis.