The Lawn & Garden market in the DIY & Hardware Store Market is experiencing negligible growth in Saudi Arabia due to factors such as limited consumer demand and economic constraints. Despite an increasing awareness of DIY and online gardening options, the growth rate remains stagnant due to market saturation and cost constraints.
Customer preferences:
As the DIY and hardware store market continues to grow in Saudi Arabia, the lawn and garden segment has seen a rise in demand for eco-friendly and sustainable products. This shift is driven by changing consumer preferences towards maintaining a greener and more environmentally conscious lifestyle. With an increasing focus on outdoor living spaces and gardening, there is a growing demand for organic fertilizers, natural pest control products, and sustainable gardening tools. This trend is also influenced by the younger generation's interest in urban gardening and the growing trend of home gardening among households, leading to a rise in sales of gardening supplies in DIY and hardware stores.
Trends in the market: In Saudi Arabia, the Lawn & Garden Market within the DIY & Hardware Store Market is experiencing a shift towards eco-friendly and sustainable products. This trend is driven by a growing awareness of environmental issues and a desire for more natural and organic solutions. Industry stakeholders are investing in research and development to create innovative, eco-friendly options for consumers. This trajectory could lead to a more competitive market and a potential increase in demand for green products. Additionally, industry players may need to adapt their marketing strategies to highlight the sustainability aspect of their products to appeal to the environmentally conscious consumer base.
Local special circumstances: In Saudi Arabia, the Lawn & Garden Market within the DIY & Hardware Store Market is impacted by the country's arid climate and the strong cultural importance placed on outdoor spaces. As a result, there is a high demand for drought-resistant plants and landscaping solutions. Additionally, the strict regulatory environment surrounding water usage and land development heavily influences the market landscape. Local retailers must navigate these unique factors to cater to the needs of consumers and comply with regulations.
Underlying macroeconomic factors: The Lawn & Garden Market within the DIY & Hardware Store Market in Saudi Arabia is influenced by macroeconomic factors such as the country's national economic health, fiscal policies, and global economic trends. With a strong and stable economy, the demand for lawn and garden products is expected to continue growing as consumers have more disposable income to spend on home improvement projects. Additionally, the government's efforts to diversify the economy and reduce its dependence on oil revenues have resulted in increased investment in infrastructure, which has led to a rise in the number of homes and commercial properties, driving the demand for lawn and garden products. Furthermore, with the growing awareness about the importance of environmental sustainability, there is a rising trend towards using eco-friendly and sustainable lawn and garden products, which also contributes to the market's 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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