The DIY & Hardware Store Market in Hungary has seen a slight increase in demand for lawn and garden products due to consumers' growing interest in DIY projects and the convenience of online shopping. However, the market's growth rate remains negligible due to competition from traditional brick-and-mortar stores and a slowdown in the country's overall economic growth.
Customer preferences: With the rise of eco-consciousness and a growing interest in sustainable living, consumers in Hungary are increasingly turning to the Lawn & Garden Market within the DIY & Hardware Store Market for environmentally friendly gardening solutions. This includes a demand for organic and biodegradable gardening products, as well as tools and equipment made from eco-friendly materials. As consumers become more mindful of their impact on the environment, the popularity of sustainable gardening practices is expected to continue to rise.
Trends in the market: In Hungary, the Lawn & Garden Market within the DIY & Hardware Store Market is experiencing a trend towards eco-friendly and sustainable gardening practices. Consumers are becoming more conscious of their environmental impact and are seeking out products that promote a greener lifestyle. This has led to an increase in demand for organic fertilizers, biodegradable plant pots, and eco-friendly pest control solutions. This trend is expected to continue as regulations and consumer awareness around sustainability continue to grow. This presents an opportunity for industry stakeholders to cater to this demand and differentiate themselves in the market. Additionally, the rise of urban gardening and small-space gardening in Hungary is also opening up new markets for the Lawn & Garden industry. With limited outdoor space, consumers are turning to vertical gardening solutions, DIY kits, and compact gardening tools. This trend is expected to drive sales and innovation in the industry as more consumers embrace gardening in urban areas.
Local special circumstances: In Hungary, the Lawn & Garden Market within the DIY & Hardware Store Market is heavily influenced by its geographical location and climate. With a continental climate and vast agricultural land, there is a high demand for lawn and garden products from both residential and commercial customers. Additionally, cultural preferences for outdoor living and entertaining also drive the demand for lawn and garden products. Regulatory factors such as strict environmental laws and protections for biodiversity also play a significant role in the market's dynamics. These unique local factors make Hungary's Lawn & Garden Market within the DIY & Hardware Store Market distinctive from other markets and shape its growth and development.
Underlying macroeconomic factors: The performance of the Lawn & Garden Market within the DIY & Hardware Store Market in Hungary is heavily influenced by various macroeconomic factors. The global economic trends, such as fluctuating commodity prices and trade policies, can impact the availability and cost of raw materials for the production of lawn and garden products. Moreover, the national economic health of Hungary, including GDP growth and inflation rates, can affect consumer spending power and overall market demand. Government fiscal policies, such as tax rates and subsidies, can also impact the competitiveness of local lawn and garden businesses. Additionally, other financial indicators such as interest rates and currency exchange rates can influence the cost of production and the pricing of products, further affecting market performance.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
