Artificial grass has a low penetration rate and has a broad space for medium and long-term growth. At present, the penetration rate of artificial turf is still low:
1) The penetration rate of sports grass is less than 10%: Taking the artificial grass used in football fields as an example (accounting for 62% of artificial sports turf), the paved area of artificial turf in global football fields in 2017 was about 87 million square meters, corresponding to the number of football fields of about 1.2 It is estimated that the number of football fields in the world is more than 150,000, and the corresponding penetration rate of artificial turf football fields is less than 10%. At present, professional leagues still use natural turf, but given the significant cost advantage of artificial turf in maintenance, the proportion of artificial turf used in general events, campus sports fields, social sports fields and training grounds is expected to continue to increase.
2) The penetration rate of recreational grass is less than 3%: According to Euromonitor, the global home gardening market size (including lawn and other household outdoor plants) was US$27 billion in 2019, assuming that lawn accounted for 50% and household demand accounted for 50% of the total demand for recreational grass. %, the penetration rate of artificial turf in family turf is less than 3%. The improvement of product performance, the broadening of application scenarios, and the cultivation of consumer habits will drive the penetration rate of recreational grass to increase.
The overall demand for the global artificial turf market is growing rapidly. According to the statistics of AMI Consulting, the global artificial turf sales amount in 2019 was 17.8 billion yuan (converted at the exchange rate of 1 euro to 7.73 yuan), and the sales volume was 297 million square meters. From 2015 to 2019, the compound annual growth rate of global artificial turf sales was 14.83%. From the perspective of product structure, the sales volume of sports grass exceeds that of leisure grass, but the growth rate of leisure grass is faster. In 2019, the global sales of sports grass was 160 million square meters, accounting for 53.97% of global sales, and the compound annual growth rate from 2015 to 2019 was 8.72%. According to the forecast of AMI Consulting, it is expected that the global sales of sports grass will reach 219% in 2023. million square meters. In 2019, the global sales of recreational grass was 137 million square meters, accounting for 46.03% of global sales, and the compound annual growth rate from 2015 to 2019 was 24.91%. According to the forecast of AMI Consulting, it is estimated that the global sales of recreational grass will reach 239% in 2023. million square meters. (The above data comes from the network Yiyi Investment Research)