Landscaping Products: $10.5 Billion Market by 2025
CLEVELAND — A new Freedonia Group analysis finds the U.S. landscaping products market saw strong growth in 2020, including an acceleration of outdoor-living projects.
Following the rapid growth of the pandemic period, demand for landscaping products is expected to continue to rise at a healthy 2.6% annual rate through 2025, reaching $10.7 billion, according to Freedonia’s new Landscaping Products study.
And, as the effects of the pandemic slaken, professionally installed work will outpace the DIY market.
Hardscaping will maintain its market lead, and lighting products and pots, planters, and raised beds will also see healthy growth – all benefiting from the pandemic-driven acceleration of outdoor living and gardening trends.
Outdoor spaces provided a safe alternative to crowded public spaces and indoor gatherings and found increased use for socializing and entertaining.
Homeowners invested in improving both the aesthetics and functionality of outdoor spaces – adding hardscaping to expand the amount of usable space and outdoor structures and decorative products like water features to optimize the “staycation” experience.
Throughout 2021, demand for landscaping products is expected to remain elevated and continue to grow, as consumers continue to spend more time and money on their households than pre-pandemic.In some households, renovations made in 2020 will spur larger, more elaborate projects or investments in 2021 – with professional work orders rebounding strongly as the pandemic recedes.
Beyond 2021, professional installations will rise back to their former, above average growth rates. Over the past year and a half, consumers were able to closely analyze what ways they could improve their home to fit their needs. Record-low interest rates and additional cash from stimulus checks will also promote further investment in homes.
Furthermore, the home and work life balance is likely to remain shifted in the near term. With more workplaces allowing employees to work from home, homeowners are taking a closer look at what they value in their homes and what areas they want to use more often.
The trend also expands beyond the residential backyard. More commercial property owners are placing emphasis on creating outdoor spaces that can serve their needs. Business owners and property management companies are seeking to provide customers with space to dine or socialize outdoors or to improve aesthetics.
These trends are expected to continue as more property owners see the value in having attractive and functional outdoor areas.
Landscaping Products is now available.
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