The Lawn & Garden market in the DIY & Hardware Store Market in Eastern Asia has been experiencing slow growth due to factors such as low consumer interest and limited availability of online services. This is in contrast to the rapidly growing Digital Health market, driven by increasing tech adoption and health awareness.
Customer preferences: As more consumers in Eastern Asia become interested in DIY activities and creating their own outdoor spaces, the Lawn & Garden Market within the DIY & Hardware Store Market market has seen a rise in demand for eco-friendly and sustainable products. This trend is driven by a growing awareness of environmental issues and a desire to incorporate natural elements into outdoor living spaces. Additionally, with an aging population in many Asian countries, there is a growing need for ergonomic and easy-to-use gardening tools and equipment to cater to the changing demographic.
Trends in the market: In Eastern Asia, the Lawn & Garden market within the DIY & Hardware Store Market is witnessing a shift towards eco-friendly and sustainable practices. This includes a rising demand for organic products, such as natural fertilizers and pesticides, as well as a growing interest in urban gardening and indoor plants. These trends are driven by increasing awareness of environmental issues and health concerns, and are expected to continue in the future. Industry stakeholders need to adapt to these changing consumer preferences and invest in innovative solutions to meet the demand for environmentally friendly products.
Local special circumstances:
In Eastern Asia, the Lawn & Garden market is heavily influenced by the cultural significance of gardening and outdoor activities. Gardening is seen as a popular leisure activity and an expression of one's taste and style. In Japan, intricate gardens and bonsai plants are highly valued, driving the demand for specialized gardening tools. In China, the growing middle class is increasingly investing in high-quality outdoor spaces, boosting the sales of premium lawn furniture and decor. Additionally, the government's emphasis on sustainable living and eco-friendly practices is driving the demand for environmentally-friendly gardening products.
Underlying macroeconomic factors:
The Lawn & Garden Market within the DIY & Hardware Store Market is largely influenced by macroeconomic factors, such as overall economic trends, national economic status, fiscal policies, and other financial indicators. For example, in Eastern Asia, the growing middle class and increasing disposable income are driving the demand for DIY and gardening products. Additionally, favorable government policies, such as tax breaks and subsidies for home improvement and gardening projects, are contributing to the growth of this market. However, in countries with economic instability or weak consumer confidence, the Lawn & Garden Market may experience slower growth. Moreover, the increasing focus on sustainable and eco-friendly gardening practices is also impacting market performance, as consumers are willing to pay a premium for environmentally-friendly products. Furthermore, the aging population in many countries in Eastern Asia is leading to a rise in demand for products catered towards elderly or disabled individuals, such as lightweight gardening tools and raised garden beds. Overall, the macroeconomic environment plays a significant role in shaping the Lawn & Garden Market within the DIY & Hardware Store Market in Eastern Asia.
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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