Market Insights Consumer DIY & Hardware Store

Lawn & Garden - Madagascar

Madagascar

In 2024, the revenue in the Lawn & Garden market in Madagascar amounts to US$184.40m.
It is projected that the market will experience an annual growth rate of 3.53% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue in this market, with a total of US$133bn in 2024.
Considering the total population figures, the per person revenue generated in Madagascar in 2024 is US$5.94.
"Due to the rich biodiversity and tropical climate of Madagascar, the market for exotic plants and unique garden designs is thriving."

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

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Analyst Opinion

In Madagascar, the Lawn & Garden market within the DIY & Hardware Store market is experiencing minor growth due to factors such as low consumer awareness, limited availability of digital technologies, and a preference for traditional gardening methods. However, with increasing access to digital services and a growing interest in sustainable living, the market has the potential for significant growth in the future.

Customer preferences: As gardening and lawn care continue to gain popularity in Madagascar, there has been a rise in demand for eco-friendly and sustainable solutions in the Lawn & Garden Market within the DIY & Hardware Store Market. Consumers are becoming more conscious of their environmental impact and are looking for products and tools that are eco-friendly and chemical-free. This has led to an increase in the availability of organic and eco-friendly gardening supplies and tools in hardware stores. Additionally, there has been a growing interest in urban gardening, particularly among Millennials, as they are adopting a more sustainable and self-sufficient lifestyle. This trend is also influenced by the increase in housing prices and limited outdoor space, making urban gardening a practical and environmentally-friendly option.

Trends in the market: In Madagascar, there is a growing trend of incorporating sustainable and eco-friendly practices in the Lawn & Garden Market within the DIY & Hardware Store Market. This includes the use of natural and organic fertilizers and pesticides, as well as the promotion of native plants and conservation of water resources. This trend is significant as it reflects a shift towards more environmentally conscious consumer behavior. Industry stakeholders, such as retailers and manufacturers, should take note of this trend and adapt their products and marketing strategies to cater to this growing demand for sustainable gardening practices. There is also potential for collaborations with environmental organizations to further drive this trend and differentiate their offerings in the market. With increasing global concerns about climate change, this trend is likely to continue to gain momentum and become a key factor in consumer decision making.

Local special circumstances: In Madagascar, the Lawn & Garden Market within the DIY & Hardware Store Market is heavily influenced by the country's unique geographical landscape, which includes vast rainforests and highlands. This has led to a market focused on eco-friendly and sustainable gardening practices. Additionally, cultural beliefs regarding the importance of nature and outdoor living have driven the demand for innovative and high-quality gardening products. Furthermore, regulatory restrictions on the import and use of certain products have prompted local manufacturers to develop locally-sourced alternatives, making the market more competitive and diverse.

Underlying macroeconomic factors: The Lawn & Garden Market within the DIY & Hardware Store Market is heavily impacted by macroeconomic factors such as consumer spending, disposable income, and overall economic stability. Economic trends also play a significant role in the market's performance, with trends towards sustainable and eco-friendly gardening leading to the rise of niche products and higher demand for quality gardening tools. Additionally, fluctuations in exchange rates and interest rates can affect the cost of raw materials and production, ultimately influencing pricing strategies and consumer purchasing power. Government fiscal policies and trade agreements can also impact the market, with tariffs and regulations potentially hindering international trade and supply chain efficiencies.

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.