Market Insights Consumer DIY & Hardware Store

Lawn & Garden - Cyprus

Cyprus

in Cyprus, a country located in the eastern Mediterranean, has its own share in the Lawn & Garden market.
In 2024, the revenue in this market segment in Cyprus amounts to US$64.25m.
Looking into the future, the market is expected to grow annually by 1.35% (CAGR 2024-2029).
When comparing in Cyprus to other countries globally, it is worth noting that in the United States generates the highest revenue in the Lawn & Garden market, reaching a staggering US$133bn in 2024.
To gain a better understanding of the market's impact on the population, it is worth considering the per-person revenues.
In Cyprus, for example, each person generates US$50.65 in revenue in 2024.
Cyprus is experiencing a growing trend in sustainable gardening practices, with an increasing number of households opting for organic fertilizers and water-efficient irrigation systems.

Key regions: Germany, Nigeria, Brazil, India, China

Market

Region

Region comparison

Currency

Analyst Opinion

The Lawn & Garden market in the DIY & Hardware Store market in Cyprus is experiencing slow growth due to factors such as low consumer spending and limited availability of land for gardening. The market faces challenges in increasing demand and adoption of digital technologies, hindering its potential for significant growth.

Customer preferences: Consumers in Cyprus are increasingly turning to DIY and hardware stores for lawn and garden supplies, as they prioritize creating a beautiful and functional outdoor space. With a growing interest in sustainable living and self-sufficiency, there is a rise in demand for eco-friendly and organic products, such as natural fertilizers and compost bins. Additionally, with more people spending time at home, there is a growing trend towards outdoor entertainment and relaxation, leading to an increase in purchases of patio furniture, shade structures, and outdoor lighting.

Trends in the market: In Cyprus, the Lawn & Garden Market within the DIY & Hardware Store Market is seeing a rise in demand for sustainable gardening products, such as organic fertilizers and eco-friendly tools. This trend is driven by growing consumer awareness of environmental sustainability and a desire for healthier, more natural options. This trajectory is significant as it presents opportunities for industry stakeholders to differentiate themselves by offering sustainable options. Furthermore, it may also have implications for product pricing and sourcing strategies in the future.

Local special circumstances: In Cyprus, the Lawn & Garden Market within the DIY & Hardware Store Market is heavily influenced by the country's Mediterranean climate. With long, hot summers and mild winters, there is a strong demand for gardening and outdoor living products year-round. Additionally, the Cypriot culture values outdoor spaces and gardening as a way of life, further driving the demand for lawn and garden products. Moreover, the country's strict regulations on water usage and pesticide control have led to an increased interest in eco-friendly and sustainable gardening solutions. These unique factors set the Lawn & Garden Market in Cyprus apart from other markets and shape its dynamics.

Underlying macroeconomic factors: The Lawn & Garden Market within the DIY & Hardware Store Market in Cyprus is impacted by various macroeconomic factors. The global economic trends, national economic health, fiscal policies, and other financial indicators all play a role in shaping the performance of this market. For instance, favorable economic conditions and strong domestic demand for DIY products can result in increased sales and market growth. On the other hand, economic downturns and weak consumer confidence can lead to a decline in the demand for lawn and garden products. Additionally, government policies and regulations related to environmental protection and sustainability can also impact the market, influencing consumer purchasing behavior and product innovation.

Methodology

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.