The Lawn & Garden market within the DIY & Hardware Store market in the Americas is experiencing slow growth, driven by factors such as low consumer spending on non-essential items, unfavorable weather conditions, and competition from online retailers and big box stores. This market is expected to continue at a negligible growth rate due to these challenges.
Customer preferences: As millennials and Gen Z consumers continue to prioritize sustainability and eco-friendliness, there has been a surge in demand for environmentally conscious lawn and garden products. This includes products made from sustainable materials, as well as those that help reduce water waste and chemical usage. Additionally, gardening and urban farming have become popular hobbies, particularly among younger demographics, reflecting a growing interest in self-sufficiency and locally sourced produce.
Trends in the market: In the Americas, the Lawn & Garden Market within the DIY & Hardware Store Market is seeing an increase in demand for sustainable and eco-friendly products. This trend is driven by growing awareness and concern for the environment, with consumers seeking out products made from recycled materials and using organic gardening methods. Furthermore, there is a rising trend of urban gardening, with more people living in apartments or smaller homes seeking ways to bring nature into their living spaces. This trend is expected to continue as more people prioritize sustainability and eco-consciousness in their purchasing decisions. Industry stakeholders should consider incorporating eco-friendly options into their product offerings and promoting the benefits of urban gardening to cater to this growing trend.
Local special circumstances: In the Americas, the Lawn & Garden Market within the DIY & Hardware Store Market is heavily influenced by the diverse and varying climates and landscapes of different regions. For instance, in Canada, the market is driven by the need for durable and weather-resistant equipment to withstand harsh winters. In Latin American countries like Mexico and Brazil, the market is shaped by the popularity of outdoor leisure activities such as barbecues and gardening, leading to a demand for versatile and multi-functional tools and equipment.
Underlying macroeconomic factors: The Lawn & Garden Market within the DIY & Hardware Store Market in the Americas is affected by various macroeconomic factors such as consumer spending, economic growth, and government policies. The performance of the market is heavily influenced by the overall economic health of the region, as well as global economic trends. Countries with robust economic growth and high consumer spending tend to have stronger demand for lawn and garden products, while those experiencing economic downturns may see a decline. Government policies and regulations, particularly related to environmental and sustainability issues, also have a significant impact on the market. As awareness and concern for the environment continue to rise, consumers are increasingly looking for eco-friendly and sustainable lawn and garden products, creating opportunities for market growth. Furthermore, investments in infrastructure and urbanization in the region are also driving the demand for lawn and garden products, as more people are moving into suburban areas and looking to enhance their outdoor living spaces.
Data coverage:
Data encompasses B2C enterprises. Figures are segmented by product type and consist of the following: Paint, Wallpaper & Supplies, Tools & Machines, Hardware and Building Materials, Lawn & Garden, Heating & Cooling, Bathroom Hardware, and Floor Covering.Modeling approach / Market size:
Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as product value, import value, and export value to determine domestic supply. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are turnover indices, GDP per capita, and consumer spending per capita.Additional Notes:
The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.
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