Gardening Tools Market Expected to Record Increasing Growth by 2029 – KSU
The growing trend of home gardening and the growing promotion of gardening and planting by various associations and organizations across the world are expected to be major factors contributing to the growing demand for gardening tools.
The gardening tools market is expected to experience significant growth in both commercial and residential sectors. Different types of gardening tools are used by consumers to maintain a decorative and healthy planting. Pruning, seeding, cutting, watering and digging tools are widely used in gardening activities. Additionally, technological advancements in gardening tools that facilitate and improve gardening levels are expected to further drive demand over the forecast period.
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According to a new study from Persistence Market Research (PMR), the global gardening tools market is expected to experience a CAGR of 3.0% During the forecast period 2019-2029, APAC is expected to be the fastest growing regional market during this period.
Key Takeaways – Gardening Tools Market
- Gardening is considered a leisure activity by all age groups; Moreover, with the increase in disposable income per capita and the spending capacity of consumers, an increase in spending on leisure activities is expected.
- The availability of several versatile gardening tools with ergonomic designs has led to an increase in the demand for gardening tools in North America and Europe. Rising disposable income in these regions along with strong GDP growth are expected to fuel the growth of the gardening tools market during the forecast period. In addition, the increase in the standard of living has led to increased adoption of gardening as a hobby by more people.
- Considering the increase in gardening expenses, the gardening tools market in APAC has shown a positive outlook. People increasingly prefer high-performance gardening tools and hire professional gardeners to maintain their gardens. In addition, households have also started to grow vegetables on their rooftops, which has resulted in increasing use of gardening tools in the APAC region.
- The commercial segment is expected to grow at a stagnant pace, creating limited investment opportunities for new players. The commercial segment has seen an increasing adoption of power tools in the recent past, due to various additional advantages they offer over traditional manual gardening tools. Thus, the segment is expected to remain less attractive for hand tools compared to the residential segment during the forecast period.
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“To reap the benefits of shifting consumer preferences towards an ethic of ‘do it yourself’ (DIY), garden tool makers are now focusing on providing portable, compact and portable solutions. economic to domestic users, ”explains a PMR analyst.
Gardening Tools Market: Competition Scenario
The global gardening tools market is highly fragmented and characterized by the presence of many regional players. The main reason being the requirement for a limited manufacturing capacity and raw materials. Some of the major manufacturers include Stanley Black & Decker, Inc., Felco SA, Fiskars Group, and AMES Companies, Inc., among others. The recent trend to strengthen its product portfolio by launching new products with enhanced functionality through product development for DIY enthusiasts and home gardeners is expected to create lucrative market growth opportunities during the forecast period.
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Landscape of the global gardening tools market
The global gardening tools market is expected to experience strong growth over the years, owing to the changing lifestyles of consumers, the expansion of modern homes, and the increase in disposable income of the people, to worldwide. Asia-Pacific is expected to develop at a significant growth rate, owing to the increase in infrastructure (gardens, shopping malls, etc.) and construction sector in the evolving countries of the region. In addition, the residential sector is also booming, associated with the rising standard of living of people in developing economies. It is also believed that it will catalyze the growth of the gardening tools market.
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