Market Insights Consumer DIY & Hardware Store

Lawn & Garden - Gambia

Gambia

In Gambia, the revenue in the Lawn & Garden market is projected to reach €18.17m in 2024.
It is expected that the market will grow annually by 4.57% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue with €122bn in 2024.
In terms of per person revenues, in Gambia generates approximately €6.39 in 2024.
The lawn and garden market in Gambia is experiencing a surge in demand for drought-resistant plants due to the country's arid climate.

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

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Comparación de regiones

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Analyst Opinion

The Lawn & Garden market in Gambia nan is experiencing minimal growth due to factors such as low consumer spending, limited access to digital technologies, and traditional gardening practices. Despite this, rising health awareness and the convenience of online services are expected to drive moderate growth in the future.

Customer preferences: As the Gambia continues its economic growth, consumer preferences in the Lawn & Garden Market within the DIY & Hardware Store Market have also shifted. With a rise in disposable income, consumers are increasingly seeking environmentally friendly and sustainable options for their outdoor spaces. This has led to a growing demand for organic gardening products and eco-friendly lawn care tools. Additionally, there has been a trend towards smart and automated gardening systems, as consumers look for convenience and efficiency in maintaining their gardens.

Trends in the market: In Gambia, the Lawn & Garden Market within the DIY & Hardware Store Market is experiencing a rise in eco-friendly products and sustainable gardening practices. This trend is driven by increasing awareness of environmental issues and a desire for organic and natural solutions. Industry stakeholders are investing in research and development to meet the demand for environmentally friendly products, while also focusing on marketing and education initiatives. This trajectory towards sustainable gardening has the potential to not only benefit the environment but also attract a growing segment of eco-conscious consumers. Moreover, it presents opportunities for industry players to differentiate themselves and gain a competitive advantage in the market.

Local special circumstances: In Gambia, the Lawn & Garden Market within the DIY & Hardware Store Market is heavily influenced by the country's subtropical climate and high levels of rainfall, leading to a strong demand for gardening tools and supplies. Additionally, cultural traditions and beliefs play a significant role in the types of products and plants that are popular in this market. Moreover, regulatory policies regarding the import and export of certain plants and products also shape the market dynamics. These unique factors distinguish the Gambia market from others and have a direct impact on consumer preferences and buying patterns.

Underlying macroeconomic factors: The Lawn & Garden Market within the DIY & Hardware Store Market is impacted by macroeconomic factors such as global economic trends, national economic health, and fiscal policies that affect consumer spending and market performance. Growing economies with stable GDP growth and low unemployment rates are expected to have higher demand for DIY and hardware products, including lawn and garden goods. Similarly, countries with favorable fiscal policies and government initiatives promoting home improvement are likely to experience growth in the lawn and garden sector. However, economic instability and weak consumer purchasing power can limit market growth in certain regions. Moreover, the increasing focus on sustainability and eco-friendly practices is influencing consumer preferences and driving demand for environmentally-friendly lawn and garden products.

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.