Lawn & Garden - Mongolia | Statista Market Forecast

In 2024, the revenue generated by the Lawn & Garden market in Mongolia amounts to US$59.83m.
It is projected that the market will experience an annual growth rate of 5.43% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue with US$133bn in 2024.
In terms of per person revenues, in Mongolia generates US$17.12 in 2024.
Despite its harsh climate and limited resources, Mongolia has seen a growing trend in urban gardening, as citizens embrace sustainable practices and seek to connect with nature.

Definition:

In the segment Lawn & Garden, the focus lies on products that help homeowners and landscapers create and maintain attractive and functional outdoor living spaces. Included in this segment are plants, gardening tools, gardening plant supplies, and outdoor power equipment. Outdoor accessories, such as umbrellas and sunshades, and outdoor storage, such as a garden house, as well as non-electric grills and garden décor are also part of the segment.

Additional Information:

The market consists of revenue and average revenue per capita data. Per capita figures take into account the whole population. This market includes only B2C (business to consumer) sales. B2B (business to business) sales (e. g., hardware for coffee shops, offices, etc.) are excluded. Outdoor lamps are not included in this segment but can be found in the Lamps & Lighting segment of the Furniture market. For more information on the displayed data, click the info button on the right hand side of each box.

Gardening tools & outdoor power equipment
Plants & gardening supplies
Outdoor storage
Non-electric grills and supplies
Garden décor

Outdoor & garden furniture
Outdoor lamps
Farm and ranch supplies
Aquatic plants

The DIY & Hardware Store Market in Mongolia has seen minimal growth in the Lawn & Garden Market, influenced by factors such as low consumer awareness and limited digital adoption. However, with the convenience of online shopping and increasing interest in home gardening, the market is expected to experience gradual growth in the coming years.

Customer preferences: Consumers in Mongolia are increasingly prioritizing outdoor living spaces and seeking DIY solutions for lawn and garden care, leading to a rise in demand for lawn mowers, garden tools, and outdoor furniture. This trend is driven by the growing popularity of gardening and home improvement as a form of leisure activity, as well as the desire for self-sufficiency in food production. Additionally, the younger demographic is gravitating towards eco-friendly and sustainable gardening practices, leading to a surge in sales of organic fertilizers and composting equipment.

Trends in the market: In Mongolia, the Lawn & Garden market within the DIY & Hardware Store Market is experiencing a shift towards environmentally friendly and sustainable products. There is a growing consumer demand for gardening tools and materials that are chemical-free and promote eco-friendly practices. This trend is significant as it reflects a greater awareness and concern for the environment among consumers. Industry stakeholders may need to adapt their product offerings and marketing strategies to cater to this trend, as well as invest in research and development for more sustainable options. This could also lead to potential partnerships and collaborations with local environmental organizations.

Local special circumstances: In Mongolia, the Lawn & Garden market is heavily influenced by its unique geographical factors, such as the harsh climate and sparse population. This has led to a market dominated by durable and low maintenance outdoor products, as well as a focus on functionality over aesthetics. Additionally, the country's traditional nomadic lifestyle has ingrained a strong DIY culture among its people, leading to a high demand for gardening and landscaping equipment in the DIY & Hardware Store market. Regulatory restrictions on land use and environmental conservation measures also play a significant role in shaping the market dynamics in this region.

Underlying macroeconomic factors: In Mongolia, the Lawn & Garden Market within the DIY & Hardware Store Market is highly influenced by macroeconomic factors such as economic stability, consumer spending power, and government policies promoting sustainable living. The country's rapidly growing economy, coupled with an increase in disposable income, has led to a surge in demand for lawn and garden products. Moreover, the government's initiatives to promote investment in the agricultural sector have also positively impacted the market, as more people are now investing in their own gardens. Furthermore, the rising awareness about environmental concerns and the trend towards eco-friendly gardening practices have also contributed to the growth of this market in Mongolia, as consumers are increasingly opting for sustainable products and practices.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

Gardening is becoming an increasingly popular pastime in the United States. The pandemic freed up a lot of spare time for many homeowners, allowing them to remodel and redecorate their homes and lawns. Not only has this led to an increase in home improvement projects, but also to a measurable growth of the garden equipment and plants market. In 2020, the combined sales of building materials and garden equipment grew by 14 percent compared to the year before, at more than 425 billion U.S. dollars. Similarly, that same year the market size of the plant and flower growing industry increased, recovering from a sales dip in 2019.