Market Insights Consumer DIY & Hardware Store

Lawn & Garden - Colombia

Colombia

Colombia's Lawn & Garden market is projected to generate a revenue of €1.37bn in 2024.
It is anticipated that the market will experience an annual growth rate of 4.28% (CAGR 2024-2028).
When compared globally, in the United States leads in revenue generation, reaching €123bn in 2024.
In terms of per capita revenue, in Colombia is expected to generate €26.44 per person in 2024.
Colombia's growing interest in sustainable gardening is driving the demand for eco-friendly lawn and garden products.

Key regions: Germany, Nigeria, Brazil, India, China

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Lawn & Garden market in Colombia is currently experiencing minimal growth due to factors such as limited consumer spending and economic uncertainty. Despite this, the market has seen some growth driven by increasing demand for DIY and hardware products as well as a growing trend towards urban gardening. The convenience of online stores and rising health consciousness among consumers are also contributing factors to the market's growth.

Customer preferences: Consumers in Colombia are gravitating towards DIY lawn and garden projects as a way to save money and be more self-sufficient. This trend is driven by the country's economic instability and rising cost of living. As a result, customers are increasingly seeking affordable tools and materials at DIY and hardware stores. Additionally, there is a growing interest in sustainable and eco-friendly gardening practices, reflecting a larger cultural shift towards environmental consciousness in the country. This has led to a surge in demand for products such as organic fertilizers, natural pest control solutions, and water conservation tools.

Trends in the market: In Colombia, the Lawn & Garden Market within the DIY & Hardware Store Market is experiencing a rise in demand for sustainable and eco-friendly products. This trend is driven by increasing consumer awareness of the environmental impact of traditional gardening methods. As a result, there is a growing market for organic fertilizers, non-toxic pesticides, and sustainable gardening tools. This trajectory is significant as it reflects a shift towards more environmentally conscious practices. Industry stakeholders have the opportunity to capitalize on this trend by offering a wider range of sustainable gardening products and promoting eco-friendly practices to their customers.

Local special circumstances: In Colombia, the Lawn & Garden market within the DIY & Hardware Store market is greatly affected by the country's diverse climate and topography. The varying landscapes, from the Andes Mountains to the Amazon rainforest, create a demand for different types of gardening tools and equipment. Additionally, cultural factors, such as a strong interest in outdoor spaces and gardening traditions, also play a significant role in shaping consumer behavior in this market. These local factors contribute to a unique market dynamic that sets it apart from other markets around the world.

Underlying macroeconomic factors: The Lawn & Garden Market within the DIY & Hardware Store Market is influenced by macroeconomic factors such as overall economic growth, consumer spending, and government policies. With improving economic conditions and rising disposable incomes, consumers are increasingly investing in their homes and prioritizing outdoor living spaces. Moreover, government initiatives to promote sustainable living and increased interest in gardening and landscaping are also driving market growth. Additionally, the increasing popularity of DIY home improvement projects and the availability of a wide range of gardening and landscaping tools and supplies in hardware stores are contributing to market expansion.

Methodology

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.