(MENAFN- iCrowdNewsWire) The growing trend of home gardening and increasing promotion of gardening & planting by various associations and organizations across the globe are expected to be major factors contributing to the increasing demand for gardening tools.
The gardening tools market is anticipated to grow significantly in the commercial and residential sectors. Different types of gardening tools are being used by consumers to maintain decorative and healthy plantation. Trimming, seeding, cutting, watering, and digging tools are extensively used in gardening activities.
Moreover, technological advancements in gardening tools that facilitate easier and well as enhanced levels of gardening are expected to further drive demand over the slated time period. According to a new study by Persistence Market Research (PMR), the global gardening tools market is projected to witness a CAGR of 3.0% during the forecast period of 2019-2029, with APAC projected to be the fastest-growing regional market during this timeframe.
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Key Takeaways – Gardening Tools Market
- Gardening is regarded as a leisure activity by all age groups; further, with rising per capita disposable income and consumer spending capability, increasing expenditure on leisure activities is expected.
- The availability of several multi-purpose gardening tools with ergonomic designs has led to a surge in the demand for gardening tools in North America and Europe. Rising disposable income in these regions along with strong GDP growth is estimated to fuel the growth of the gardening tools market over the forecast timeline. Additionally, increased standard of living has led to increased adoption of gardening as a hobby by more people.
- Considering the surging spending on gardening, the gardening tools market in APAC has shown a positive outlook. People are increasingly preferring high-performance gardening tools and hiring professional gardeners to maintain their gardens. In addition, households have also started cultivating some vegetables on their rooftops, which has led to an escalating usage of gardening tools in the APAC region.
- The commercial segment is expected grow at a stagnant pace, creating limited investment opportunities for new players. The commercial segment has witnessed increasing adoption of power tools in the recent past, due to various added advantages that they offer over traditional hand gardening tools. Thus, the segment is anticipated to remain less attractive for hand tools as compared to the residential segment over the forecast period.
“For leveraging the benefits of changing consumer preferences toward 'do it yourself' (DIY) ethics, gardening tool manufacturers are now focusing on the provision of portable, compact, and cost-efficient solutions to household users,” says a PMR analyst.
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Gardening Tools Market: Competition Scenario
The global market for gardening tools is highly fragmented, and is characterized by the presence of a number of regional players. The prime reason being the requirement of limited manufacturing capability and raw materials. Some of the key manufacturers include Stanley Black & Decker, Inc., Felco SA, Fiskars Group, and AMES Companies, Inc., among others. The recent trend of strengthening one's product portfolio by launching new products with improved features through product development for DIYers and home gardeners is estimated to create lucrative market growth opportunities over the forecast period.
Global Gardening Tools Market Landscape
The global gardening tools market is anticipated to observe high growth over the years, owing to changing consumer lifestyles, expansion of modern houses, as well as increasing disposable income of the population, globally. Asia Pacific is expected to expand at a significant growth rate, owing to increasing infrastructure (garden, shopping malls, etc.) and construction sector of evolving countries in the region. Moreover, the residential sector is also booming, coupled with rising living standards of the people in developing economies. This is also estimated to catalyze the growth of the gardening tools market.
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