Market Insights Consumer DIY & Hardware Store

Lawn & Garden - Bhutan

Bhutan

The Lawn & Garden market in Bhutan is expected to generate a revenue of €11.98m in 2024.
The market is projected to experience an annual growth rate of 6.21% (CAGR 2024-2029).
When compared globally, in the United States leads in terms of revenue generation, reaching €122bn in 2024.
In relation to the total population, the per person revenue in Bhutan is estimated to be €15.12 in 2024.
Bhutan's growing emphasis on environmental conservation is driving a surge in demand for sustainable and eco-friendly lawn and garden products.

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

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Analyst Opinion

The Lawn & Garden market in Bhutan is witnessing minimal growth, influenced by factors like low consumer awareness, limited access to digital technologies, and a preference for traditional gardening methods. This has hindered the market's growth rate, making it challenging for DIY & Hardware stores to tap into this segment.

Customer preferences: As consumers in Bhutan become more environmentally conscious, there has been a rise in demand for sustainable and eco-friendly lawn and garden products. This trend is also driven by the country's focus on Gross National Happiness, leading individuals to embrace a more natural and holistic approach to gardening and lawn care. As a result, DIY and hardware stores are increasingly stocking organic and non-toxic gardening supplies, and consumers are showing a preference for products made from locally sourced materials. The shift towards sustainable gardening practices is also reflected in the growing popularity of gardening workshops and classes, promoting the use of native plants and natural fertilizers.

Trends in the market: In Bhutan, the Lawn & Garden Market within the DIY & Hardware Store Market is seeing a trend towards eco-friendly and sustainable products. This trajectory is driven by increasing awareness and concern for the environment, with consumers seeking out organic gardening supplies and non-toxic pest control options. These trends have significant implications for industry stakeholders, as they will need to adapt their products and marketing strategies in order to cater to this growing demand. Additionally, there is potential for collaborations with green organizations and initiatives to further promote and expand this trend.

Local special circumstances: In Bhutan, the Lawn & Garden Market within the DIY & Hardware Store Market market is heavily influenced by the country's unique geographical and cultural factors. Due to the mountainous terrain, traditional farming methods are still widely practiced, leading to a high demand for basic garden tools and supplies. Additionally, Buddhism plays a major role in Bhutanese culture, promoting the importance of nature and sustainable practices. This has led to a growing interest in organic gardening and eco-friendly lawn care products in the market.

Underlying macroeconomic factors: The Lawn & Garden Market within the DIY & Hardware Store Market in Bhutan is also influenced by macroeconomic factors such as national economic health and fiscal policies. Bhutan's stable economy and growth in disposable income are driving the demand for lawn and garden products. Additionally, the government's focus on sustainable development and eco-friendly practices has led to increasing awareness and adoption of green gardening solutions. Furthermore, the global trend towards home improvement and the growing popularity of DIY projects are also contributing to the growth of the market in Bhutan.

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.