Study Projects Market Growth for Landscape Products

U.S. demand for landscaping products is projected to grow 6.9% per year through 2017 to $6.5 billion, reflecting a rebound in sales following the 2007-2009 recession and subsequent slow recovery. A strong rebound in new housing construction from low 2012 base levels will be the primary driver of growth. Acceleration in sales of existing homes, growth of consumer disposable income, and a rebound in construction expenditures in the office and commercial segment will also support gains. The residential market is the largest for landscaping products, accounting for 58% of sales in 2012. The decorative products segment was the largest segment in 2012 with 42% of total sales. The ongoing development and introduction of landscaping products that are environmentally friendly will also boost gains. These and other trends are presented in Landscaping Products, a new study from The Freedonia Group Inc., a Cleveland, Ohio-based industry market research firm.

Analyst Kevin Kelly said, “Permeable pavers for hardscaping are rapidly gaining popularity over ready mix concrete due to their ability to reduce water runoff, which can cause flooding and erosion, and pollute local water supplies.”  He also addressed current drought conditions in the U.S., adding “drought conditions in many parts of the country have resulted in water restrictions, which have led to greater use of synthetic turf, hardscaping (e.g., patios, paths and rock gardens) and potted plants instead of water-intensive grass lawns.” Among decorative products, smaller water features and pondless waterfalls are seeing advances due to reduced water usage, and lighting using LEDs provides significant energy savings over previous generations of outdoor lighting.

Source: The Freedonia Group Inc.