Artificial turf originated in the 60s of the last century, as an alternative to natural grass, has been used in many fields around the world. In 2020, the global artificial turf market size will be nearly 20 billion yuan, and the global sports grass sales will exceed leisure grass. By 2026, the global artificial turf market is expected to exceed 40 billion yuan.
The global artificial turf market is expanding in size
According to AMI Consulting, global artificial turf sales amounted to RMB17.8 billion in 2019 (converted at the exchange rate of 1 euro to 7.73 RMB), with a compound annual growth rate of 8.9% from 2017 to 2019. Combined with the compound annual growth rate of the global artificial turf market in recent years and the current situation of the industry, the global artificial turf market size in 2020 will be about 19.4 billion yuan.
Sports grass dominates
From the perspective of product structure, artificial turf is mainly divided into two categories: sports grass and leisure grass, and in recent years, the sales volume of sports grass has exceeded that of leisure grass, but the growth rate of leisure grass is faster. According to AMI Consulting statistics, the sales volume of sports grass in 2019 was 160 million square meters, accounting for 53.87% of global sales; The sales volume of leisure grass was 137 million square meters, accounting for 46.13% of the global sales.
At present, the growth of the sports grass market mainly comes from the increased investment in sports venues in developing countries and the renewal of the stock of artificial sports turf in developed countries. The growth of the leisure grass market is mainly due to the improvement of product performance to meet more personalized needs, large home chain supermarkets, gardening companies, DIY and other sales methods from North America and other mature markets to other regions, from 2017 to 2019, the proportion of leisure grass continues to increase.
The EMEA region is the world's largest market
In 2019, the world's largest artificial turf market was EMEA (Europe, the Middle East, Africa), with total sales reaching 129 million square meters in 2019, accounting for 44% of global sales; The Americas market accounted for 21% of the total global sales volume in 2019, and the American market is also the market with the highest average sales unit price in the world; Artificial turf sales in the Asia-Pacific region were 105 million square meters, accounting for 35% of global sales, and the demand in the region was mainly sports grass with a relatively low average selling unit price.
The global market size is expected to exceed 40 billion yuan in 2026
In the future, the global artificial turf industry will continue to expand its market scale under the impetus of downstream demand, and the industry technology will continue to develop in the direction of green environmental protection, recyclability and high performance.
According to Technavio's forecast, the global artificial turf market size will grow at a compound annual growth rate of more than 9% from 2020 to 2024. It is conservatively expected that the compound growth rate of the global artificial turf market will reach 13% from 2021 to 2026, and the global artificial turf market is expected to exceed 40 billion yuan by 2026.