The Lawn & Garden market within the DIY & Hardware Store Market in GCC nan has seen slow growth, impacted by factors such as low consumer awareness and preference for traditional gardening methods. Despite this, the market is expected to see minimal growth due to an increasing emphasis on home improvement and DIY projects in the region.
Customer preferences: The DIY trend has extended to the lawn and garden market, with consumers increasingly looking for DIY solutions for landscaping and outdoor maintenance. This is driven by a desire for cost-efficiency and personalization, as well as a growing interest in sustainable gardening practices. Additionally, there has been a rise in demand for smart home technologies that can assist with lawn and garden care, further highlighting the growing trend towards digital solutions in this market.
Trends in the market: In the GCC region, the Lawn & Garden Market within the DIY & Hardware Store Market is experiencing a shift towards eco-friendly and sustainable products. Consumers are increasingly concerned about the environmental impact of their gardening practices, and are opting for organic and natural products. This trend is expected to continue in the coming years, as more consumers become environmentally conscious and seek out products that align with their values. This presents an opportunity for industry stakeholders to develop and market eco-friendly options, as well as educate consumers on their benefits. It also highlights the need for companies to adapt and invest in sustainable practices to remain competitive in the market.
Local special circumstances: In the GCC region, the Lawn & Garden Market within the DIY & Hardware Store Market is heavily influenced by the extreme weather conditions, with hot and dry summers and mild winters. This has created a demand for drought-resistant plants and efficient irrigation systems. Additionally, the cultural preference for outdoor living and entertaining has led to a high demand for stylish and functional outdoor furniture and decor. Furthermore, strict environmental regulations and water scarcity have prompted the adoption of eco-friendly gardening practices and products, making the market more sustainable than other regions.
Underlying macroeconomic factors: The Lawn & Garden Market within the DIY & Hardware Store Market in GCC is largely impacted by macroeconomic factors such as the overall economic health of the region, government policies and regulations relating to the DIY and hardware sector, and consumer purchasing power. The GCC region has strong economic growth, with a focus on diversifying their economies away from oil dependency. This has resulted in increased investments in infrastructure, including the development of physical retail spaces, which has positively influenced the growth of the Lawn & Garden Market within the DIY & Hardware Store Market. Additionally, the region's growing population and increasing disposable income have contributed to the demand for lawn and garden products, as well as home improvement and maintenance supplies.
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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