The Lawn & Garden market in the DIY & Hardware Store market in Malaysia has been experiencing minimal growth, impacted by factors such as low consumer spending power, lack of technological advancement, and limited availability of online services. However, the market is expected to witness moderate growth in the coming years due to increasing interest in home gardening and DIY projects among consumers.
Customer preferences: As homeowners in Malaysia become more environmentally conscious, there has been a noticeable increase in demand for sustainable and eco-friendly lawn and garden supplies. This trend has been driven by a growing awareness of the impact of traditional gardening practices on the environment and the desire to incorporate more natural and organic methods. Additionally, there has been a shift towards smaller and more manageable garden spaces, as urbanization and smaller living spaces become more prevalent in the country.
Trends in the market: In Malaysia, the Lawn & Garden Market within the DIY & Hardware Store Market is experiencing a similar trend of digitalization. Online platforms are becoming increasingly popular for purchasing gardening and landscaping products, offering convenience and competitive pricing. Additionally, there is a growing trend of incorporating technology into gardening with the use of smart irrigation systems and gardening apps. This shift towards digitalization not only improves the shopping experience, but also allows for better data collection and analysis, enabling industry stakeholders to make informed decisions and effectively target their customer base. As the trend continues to gain momentum, it is crucial for companies in the industry to embrace technology and adapt to the changing consumer preferences to stay competitive.
Local special circumstances: In Malaysia, the Lawn & Garden Market within the DIY & Hardware Store Market is influenced by the country's tropical climate, with demand for products that can withstand high temperatures and heavy rain. Additionally, the country's cultural emphasis on outdoor living has led to a growing market for outdoor furniture and accessories. Regulatory factors also play a role, with the government promoting sustainable gardening practices and banning certain chemicals. These unique local factors contribute to the market's growth and shape the product offerings and consumer preferences in Malaysia.
Underlying macroeconomic factors: The Lawn & Garden Market within the DIY & Hardware Store Market in Malaysia is heavily influenced by macroeconomic factors such as consumer spending, economic growth, and government policies. As the Malaysian economy continues to grow and diversify, consumers have more disposable income to spend on home improvement and gardening projects. The government's efforts to promote sustainable living and develop green spaces also contribute to the demand for lawn and garden products. Furthermore, global trends towards urbanization and the increasing emphasis on outdoor living spaces are driving the growth of this market in Malaysia.
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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