Market Insights Consumer DIY & Hardware Store

Lawn & Garden - Finland

Finland

In Finland, the revenue in the Lawn & Garden market is projected to reach US$0.72bn in 2024.
It is anticipated that the market will experience an annual growth rate of 1.61% (CAGR 2024-2029).
When compared globally, in the United States leads in generating revenue with US$133bn in 2024.
In terms of per person revenues, in Finland generates US$130.30 in 2024 relative to its total population.
The demand for eco-friendly and sustainable lawn and garden products is on the rise in Finland, as the country places a strong emphasis on environmental conservation.

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

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Analyst Opinion

The Lawn & Garden market in Finland within the DIY & Hardware Store Market is experiencing negligible growth, impacted by factors such as limited consumer awareness and low adoption of digital technologies. Convenience offered by online services is also a key factor contributing to the market's growth rate.

Customer preferences: Consumers in Finland are increasingly turning to eco-friendly and sustainable gardening practices, driving a growing demand for organic and natural gardening products. This shift is fueled by a growing awareness of environmental issues and a desire for chemical-free alternatives. Additionally, there is a rising trend towards urban gardening, as more people are living in apartments or smaller spaces and looking for ways to still connect with nature. This has led to an increase in sales of small-space gardening tools and products, as well as a rise in community gardening initiatives.

Trends in the market: In Finland's Lawn & Garden Market within the DIY & Hardware Store Market, there is a rising trend of eco-friendly and sustainable products. Consumers are increasingly opting for organic fertilizers, natural pest control methods, and electric or manual lawn equipment. This trajectory is driven by a growing awareness of environmental issues and a desire for healthier, chemical-free living. Industry stakeholders should take note of this trend and adapt their products and services to meet the demand for environmentally friendly options. Failure to do so may result in lost sales and could negatively impact the company's reputation. Additionally, this trend has the potential to create a niche market for specialized eco-friendly lawn and garden products, offering new opportunities for growth and innovation in the industry.

Local special circumstances: In Finland, the Lawn & Garden Market within the DIY & Hardware Store Market is heavily influenced by the country's long and cold winters, which limit the gardening season to only a few months. This leads to a high demand for high-quality, durable gardening equipment and tools that can withstand harsh weather conditions. Additionally, Finland's culture of self-sufficiency and love for nature drives the popularity of DIY gardening projects and the use of eco-friendly materials. The country's strict environmental regulations also play a significant role in shaping the market, with a focus on sustainable and environmentally-friendly products.

Underlying macroeconomic factors: The Lawn & Garden Market within the DIY & Hardware Store Market is highly influenced by macroeconomic factors such as consumer spending, housing market conditions, and weather patterns. As the economy recovers from the global recession, consumer spending on home improvement projects, including lawn and garden maintenance, is expected to increase. Additionally, favorable weather conditions can positively impact garden-related purchases, while droughts or severe weather events can negatively affect demand. Government fiscal policies, such as tax incentives for home improvement and subsidies for sustainable lawn care practices, can also play a role in shaping market growth. Ultimately, the performance of the national economy, including GDP growth and unemployment rates, can affect consumer confidence and spending behavior, thus impacting the Lawn & Garden Market within the DIY & Hardware Store Market.

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.