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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, according to a new study from The Freedonia Group Inc. A strong rebound in new housing construction from low 2012 base levels will reportedly be the primary driver of growth.
An 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. Hardscape products, which are projected to achieve the fastest growth through 2017, can be used to create the patios, walkways, edging, and walls that form the basis of outdoor rooms. Other products such as outdoor heating elements will also post strong gains, due in part to their ability to extend the useful season for these spaces.
For additional information, visit www.freedoniagroup.com.