Demand for hoses is forecast to increase 3.5% per year to $615 million in 2023, supported by an improved economy and the development of higher quality products that are most desired by consumers. Growth will be more broad-based compared to the previous five-year period, when the introduction of expandable hoses and new lightweight hoses drove nearly all sales gains. These trends and more are analyzed in Lawn & Garden Watering Products published by The Freedonia Group.
For more information regarding watering product trends visit: https://www.freedoniagroup.com/industry-study/lawn-garden-watering-products-3757.htm
Conventional hoses will remain the largest segment and will account for 63% of hose sales in 2023:
- Sales will be sustained by consumers who will continue to purchase these hoses for general use.
- Gains will also derive from some disgruntled buyers of expandable hoses – which were partly responsible for the declining sales of conventional hoses following their introduction to the market – choosing to revert back to conventional products.
The smaller soaker and sprinkler hose segment will grow moderately off a small base. Advances will benefit from product innovation, performance advantages, and a preference for soakers in drought-impacted areas, which supported gains for these hoses during the 2013-2018 period.
Demand for all types of lawn and garden watering products is expected to grow at an annual rate of 2.8% through 2023 to $1.2 billion. Sales of lawn and garden watering products will be supported by:
- continued consumer preference for lush, green lawns and beautiful gardens – while some consumers are shifting away from lawns to different landscaping, most homeowners, even in drier areas, prefer to have a lawn
- increasing participation in outdoor living trends
- rising interest in both decorative and edible gardening, especially among the large millennial cohort
Additional Consumer Goods studies can be viewed here: https://www.freedoniagroup.com/industry-category/cons/consumer-goods.htm
