Industry Analysis & Industry Trends
The Turf Growing industry has performed poorly over the past five years. Fluctuations in water availability have created volatile growing conditions for the industry. Consumer sentiment has remained volatile over the period, in response to changing global and domestic economic conditions. Consequently, consumers have frequently been unwilling to outlay income for new instant turf. Movements in the number of dwelling commencements and increasing high-density living have also played a role in the industry's weak performance. Industry revenue is forecast to decline at an annualised 2.4% over the five years through 2015-16, to total $217.6 million. Industry revenue is forecast to decrease by 0.3% during 2015-16... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Turf Growing industry is expected to be in the decline stage of its life cycle. Industry value added, a measure of the industry’s contribution to the wider economy, is forecast to decline at a marginal annualised 0.1% over the 10 years through 2020-21. This represents a substantial underperformance relative to the industry, with GDP projected to grow at an annualised 2.6% over the same period. As industry value added falls in proportion to GDP, the industry is shrinking as a share of the economy.
There are highly segmented turf variants in the industry, with limited opportunities for industry players to innovate and introduce new turf varieties. Industry players are facing difficulties in generating more revenue amid the slump in demand... purchase to read more