The global artificial grass market is projected to grow by 13%, courtesy of sales from the sports industry.
Technavio is a global market research firm that boasts industry expertise on hundreds of technologies. They’ve also been monitoring the artificial grass market through their research entitled, ‘Global Artificial Grass Turf Market 2019-2023.
This research claims that the artificial grass market is poised to take a big leap in the next three years. According to the researchers at Technavio, this growth is projected to be at 1.45 billion by 2023, progressing at a compound annual growth rate (CAGR) of almost 13%.
However, due to the recent and ongoing global health crisis, Technavio had to compromise its research to make it more reliable. That’s why they showcased three potential scenarios: optimistic, probable, and pessimistic.
The artificial grass industry is fragmented, with the degree of fragmentation accelerating during which this research was done. Some of the major market participants include Controlled Products, CC Grass, Ten Cate, Koninklikje, Tarkett, and Sports Group Holdings.
The growing demand for artificial grass in sports as leagues start to resume play will offer a significant growth spike for the market. Researchers advise market vendors to focus more on the growth prospect in the fast-growing segments to take advantage of this opportunity. At the same time, they should also keep their current position in the slow-growing segments and progress from there.
Right now, it’s safe to say that the demand for artificial grass Melbourne is trending upwards. That’s why vendors should be aggressive during this period and make the most of the opportunity while it lasts.
The people over at Gangli have a few tips that you should keep in mind:
Take advantage of the internet – get your artificial grass Melbourne sold faster by advertising on the internet. You can promote your product online via your website, social media, or other e-commerce platforms. It makes a lot of sense since it’s projected that mobile online shopping is projected to drive 54% of all sales platforms in 2021.