Market Insights Consumer DIY & Hardware Store

Lawn & Garden - Armenia

Armenia

In Armenia, the revenue in the Lawn & Garden market is projected to reach €45.88m in 2024.
It is anticipated that the market will experience an annual growth rate of 5.69% (CAGR 2024-2029).
When compared to the global market, in the United States generates the highest revenue with €122bn in 2024.
In terms of per capita revenue, each person in Armenia is expected to generate €16.52 in 2024.
The demand for locally sourced, organic fertilizers and pesticides has been steadily increasing in Armenia's lawn and garden market.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Lawn & Garden Market in the DIY & Hardware Store Market in Armenia nan is seeing minimal growth due to factors such as limited disposable income and a lack of awareness about DIY gardening practices. Despite the convenience offered by online shopping, the growth rate of this market is being impacted by economic constraints and low consumer interest.

Customer preferences: As the DIY and hardware store market in Armenia continues to grow, so does the demand for lawn and garden products. However, there is a noticeable shift in consumer preferences towards eco-friendly and organic options. This trend is driven by the increasing awareness of the impact of traditional chemical-based products on the environment and health. As a result, there is a growing demand for natural and sustainable lawn and garden products, such as composting materials, organic fertilizers, and non-toxic pest control solutions. This shift reflects a larger global trend towards more environmentally-conscious consumer choices and a shift towards a more sustainable lifestyle.

Trends in the market: In Armenia, the Lawn & Garden Market within the DIY & Hardware Store Market is seeing a trend towards eco-friendly and sustainable products. This trend is significant as consumers are becoming increasingly conscious about their environmental impact. Industry stakeholders should consider investing in more sustainable and organic options to meet the demand. Additionally, there is a growing interest in smart gardening technology, such as automated sprinkler systems and remote-controlled lawnmowers, which can save time and effort for consumers. These trends are set to continue, with potential implications for stakeholders to adapt and innovate in order to stay competitive in the market.

Local special circumstances: In Armenia, the Lawn & Garden Market within the DIY & Hardware Store Market is heavily influenced by the country's geographical location and climate. The landlocked country experiences harsh winters, making it essential for consumers to stock up on lawn and garden supplies during the warmer months. Additionally, traditional gardening methods are deeply ingrained in Armenian culture, leading to a continued demand for gardening tools and equipment. Regulatory restrictions on the import of certain types of plants also impact the market, driving the demand for local gardening solutions.

Underlying macroeconomic factors: The Lawn & Garden Market within the DIY & Hardware Store Market in Armenia is influenced by macroeconomic factors such as the country's economic growth, government policies, and global economic trends. Positive economic growth and a stable political climate can drive consumer spending on lawn and garden products. Additionally, changes in fiscal policies such as tax rates and regulations on imports and exports can impact the market by affecting prices and availability of products. Furthermore, the overall health of the Armenian economy, including inflation rates, unemployment levels, and consumer confidence, can also influence market performance. These factors must be considered when analyzing the lawn and garden market in Armenia to make informed business decisions and capitalize on growth opportunities.

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.