All sectors will return to growth despite some sectors having seen losses between 2008 and 2012 the report, Garden Equipment 2013, states.
"The projected return of healthy growth in the economy is likely to be a big part in this growth in value", says Key Note.
According to the report, lawnmowers and powered tools have struggled in recent years in light of the recession and poor economic climate.
However, manual hand tools have grown over the past five years, boosted by a growing proportion of fruit and vegetables being grown in gardens and allotments.
As the population grows, gardens are likely to get smaller: manual tools are generally more than sufficient for smaller gardens and allotments, argues Key Note.
Water management equipment is the sector which has seen the largest growth over the past five years thanks to fears of a drought in the summer of 2012 due to two very dry winters in a row.
This caused consumers to become more cautious with water usage and water companies to retrofit water meters for their customers, charging them per unit of water used rather than a flat rate.
Sales volumes of water management equipment used for saving water have therefore increased dramatically.