Demand for landscaping products in the United States is forecast to grow 5.3 percent per year to $8.2 billion in 2019 as the market continues to recover from the effects of the 2007-2009 recession. Strong gains in the residential and nonresidential construction sectors, growth in existing home sales, and increases in disposable incomes will support gains. Additionally, demand will be influenced by long-term drought experienced in areas of the West and the South, and growing environmental concerns of consumers. These and other trends are presented in Landscaping Products, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.
The residential market is by far the largest of the three major markets for landscaping products, accounting for nearly 70 percent of all demand in 2014. According to analyst Christine O’Keefe, „The popularity of outdoor living spaces such as outdoor kitchens and living rooms will continue to grow as homeowners look to increase their usable living space.”
Such living spaces will drive demand for landscaping products, including concrete pavers for patios and flooring, bricks and stones for walls and seating areas, and trellises and pergolas for cover.
Nonresidential building is the second largest market for landscaping products. The outdoor living trend will also influence demand in the nonresidential market as businesses such as restaurants, coffee shops, and bars look to increase their seating space during the temperate months by adding outdoor seating areas, supporting growth in hardscaping products such as pavers and stone.
Sales of outdoor heating products like fireplaces and fire pits, as well as landscaping lighting, will also increase as businesses try to maximize the time during the year that outdoor seating can be used.
Nonbuilding applications will also show healthy growth, in part due to municipal efforts to mitigate the effects of water runoff by increasing the use of permeable pavers and other related products. However, the continuing decline in the number of golf courses, particularly in the Midwest, will restrain growth.
Landscaping Products (published 08/2015, 273 pages) is available for $5300 from The Freedonia Group, Inc.
(20.08.2015, USA: 08.20.2015)