Garden products market set to grow by £95m

The garden products market will grow by £95m in 2010, according to a new report from MTW Research, despite 'garden grabbing' loopholes and the recession. MTW says sales growth in 2009 highlighted a "healthy underlying resilience" in the market, despite ongoing problems relating to low profitability.

MTW predicts 2010 growth at around 2% for the garden products market, though the report points to the threat of substitutes driving price competition in the lower-mid market sectors.

MTW's director Mark Waddy said: "A growing level of pricing pressure, with imports now accounting for more than 50% of the garden products market. It's clear that price deflation is now a serious threat to industry profitability in 2010."

The report goes on to identify a number of  market opportunities and reasons to be optimistic, particularly post 2010, as speculative housebuilding, growth in disposable incomes, the rising age of the population and a host of other issues underpin volume demand - stimulating value growth across most product sectors.

Sales of garden furniture and the barbecue market are set to experience strong growth in 2010, supported by product development and a number of social trends which should boost volume demand in the short term. With current forecasts of a warmer 2010, courtesy of El Nino, the rise in the use of the garden as a place for entertaining should continue in 2010 providing stimulus for a wide range of complementary garden products.

The garden timber market and hard landscaping products lost around £150m in sales during the recession, according to the 300 page report, as householders postponed garden refurbishment projects in light of the fragile economic landscape in 2008 and 2009.

MTW say as consumer confidence gathers strength later this year, an element of ‘pent-up' demand should offer good volume growth opportunities for suppliers active in sectors such as the decking market, with porous paving also offering added value opportunities.

Grow Your Own trends identified include for kohlrabi and fennel with this sector of the horticulture market "set to remain buoyant in the short term at least".

MTW also examine sales for 250 manufacturers and retailers, analyse future prospects for each product sector to 2014 and industry trends in the garden centres market. See www.marketresearchreports.co.uk

 


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