The Lawn & Garden market in Myanmar nan has been growing at a negligible rate due to factors such as limited access to digital technologies, low health awareness among consumers, and a preference for traditional gardening methods.
Customer preferences: As consumers continue to prioritize their outdoor living spaces, there has been a notable increase in demand for eco-friendly and sustainable gardening products. This shift in preference is being driven by a growing awareness of the environmental impact of traditional gardening methods. In addition, the trend towards self-sufficiency and DIY projects has led to a rise in sales of gardening tools and equipment. These shifts are also being influenced by the younger, more environmentally conscious demographic who are actively seeking out eco-friendly options for their lawn and garden care.
Trends in the market: In Myanmar, the Lawn & Garden Market within the DIY & Hardware Store Market is experiencing a surge in demand for eco-friendly and sustainable gardening products. This trend aligns with the global movement towards environmentally responsible practices and consumers' growing interest in organic gardening. As a result, industry stakeholders are investing in developing and promoting green products. This shift towards eco-friendliness is expected to continue, creating opportunities for businesses to tap into the growing demand for sustainable gardening solutions. Additionally, there is a rising interest in indoor gardening products, as more people are adopting indoor gardening as a hobby or a means of self-sustaining during the pandemic. This trend is expected to have a long-term impact on the market, leading to a shift in consumer preferences towards more compact and adaptable gardening products.
Local special circumstances: In Myanmar, the Lawn & Garden Market within the DIY & Hardware Store Market is heavily influenced by the country's unique geography and cultural beliefs. Due to the country's predominantly rural population, there is a strong demand for affordable gardening and landscaping solutions. Additionally, traditional Burmese beliefs and practices surrounding gardening and gardening tools play a significant role in shaping consumer preferences. The market is also subject to strict regulations, such as restrictions on certain imported products, which can impact supply and pricing.
Underlying macroeconomic factors: The Lawn & Garden Market within the DIY & Hardware Store Market in Myanmar is strongly affected by macroeconomic factors such as the country's economic growth, government policies, and investment in infrastructure. With rapid economic development and increasing urbanization, there is a growing demand for home improvement and gardening products. Additionally, the government's favorable policies towards promoting DIY and gardening activities, along with investments in building material industry, are driving the growth of the market. However, challenges such as limited access to credit and high inflation rates can hinder the market growth.
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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