Market Insights Consumer DIY & Hardware Store

Lawn & Garden - Thailand

Thailand

In Thailand, the revenue in the Lawn & Garden market is projected to reach €1.71bn in 2024.
It is anticipated that the market will experience an annual growth rate of 3.79% (CAGR 2024-2029).
When compared to other countries worldwide, in the United States leads in terms of revenue generation, with an estimated amount of €123bn in 2024.
In relation to the total population, per capita revenues in Thailand are expected to be €23.72 in 2024.
Thailand's growing middle class is driving increased demand for landscape design and gardening services in the Lawn & Garden market.

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

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The DIY & Hardware Store Market in Thailand is witnessing a slow growth rate due to factors such as low consumer awareness, limited availability of online services, and traditional preference for in-store purchases. Despite this, the market is expected to experience steady growth in the near future.

Customer preferences: As more individuals in Thailand prioritize health and wellness, there is a growing trend towards sustainable and eco-friendly lawn and garden products. This includes a preference for organic fertilizers and pest control methods as well as a focus on native plants and water conservation. Additionally, with an aging population and increasing urbanization, there is a rising interest in small-scale gardening solutions like vertical gardens and container gardening, catering to those with limited space and mobility.

Trends in the market: In Thailand, the Lawn & Garden Market within the DIY & Hardware Store Market is experiencing a shift towards sustainable and eco-friendly products. This trend is driven by increasing consumer awareness and government initiatives promoting green living. As a result, there is a growing demand for organic fertilizers, biodegradable planters, and energy-efficient gardening tools. Industry stakeholders are also investing in innovative technologies, such as smart irrigation systems and robotic lawn mowers, to meet this demand. This trend is expected to continue in the future, with potential implications for competitive differentiation and cost management.

Local special circumstances: In Thailand, the Lawn & Garden Market within the DIY & Hardware Store Market has been heavily influenced by the country's tropical climate, which allows for a wide variety of plant species to thrive. Additionally, Thai culture highly values green spaces and gardening, leading to a strong demand for lawn and garden products. Furthermore, the government has implemented regulations on the sale and use of pesticides and fertilizers, creating a niche for natural and organic gardening products. This unique combination of factors has contributed to the growth and success of the Lawn & Garden Market in Thailand.

Underlying macroeconomic factors: The Lawn & Garden Market within the DIY & Hardware Store Market in Thailand is heavily influenced by macroeconomic factors. These include economic trends such as GDP growth, national economic health, and fiscal policies. Favorable economic conditions, such as stable GDP growth and low inflation rates, can drive consumer spending and boost the demand for lawn and garden products. On the other hand, economic downturns can negatively affect consumer confidence and spending, resulting in a decline in market performance. Additionally, government policies and regulations regarding land use, landscaping, and environmental conservation can impact the growth of this market. For instance, initiatives promoting sustainable gardening practices can create opportunities for eco-friendly products, while stricter regulations on chemical use can limit the market for traditional lawn and garden care 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.