UNITED KINGDOM / AGILITYPR.NEWS / July 30, 2020 / According to the latest Domestic Garden Building and Structures Market Report from AMA Research, the garden building and structures market is expected to be negatively impacted by the Covid-19 pandemic in 2020 as a reduction in household incomes influence peoples’ decisions to purchase non-essential products.
However, assuming the impacts of Covid-19 are time-limited, household income growth should resume from 2021 and the garden buildings and structures market is forecast to recover, assisted by improving housebuilding levels and the trend for using buildings for leisure activities, homeworking and accommodation purposes.
The domestic garden buildings and structures market is part of the wider garden products market, which includes horticulture, garden sundries, garden buildings, garden equipment, garden leisure and garden chemicals and was valued at an estimated £5.4bn in 2019. Garden buildings account for almost 20% of the market which includes conservatories.
The market has experienced continued growth since 2013 benefiting from factors such as peoples’ willingness to spend on their gardens, a growing housing market, increased levels of homeworking, trend for secondary residential garden buildings and growing popularity in ‘outdoor living’.
However, household finances have been tight, reflecting low real disposable income growth, but low interest rates discourage saving and households have recently been running down savings. The garden is increasing in importance to many homeowners and they have been willing to invest in them, although the level of market growth achieved in recent years remains modest.
The UK has faced the challenges of Brexit and more recently Covid-19, which have created economic uncertainty. However, the garden sector has proved to be both resilient and robust to economic downturns in the past, although is still impacted by some degree to falling consumer confidence and spending. Prospects for the garden buildings and structures market into the medium-term are for steady annual growth of 2-4% to 2024.
This information was taken from the Domestic Garden Buildings and Structures Market Report – UK 2020-2024 by AMA Research, which is available to purchase now at www.amaresearch.co.uk or by calling 01242 235724.
AMA Research is a leading provider of market research and consultancy services with over 30 years’ experience within the construction and home improvement markets. For more information, go to www.amaresearch.co.uk or follow us on Twitter @AMAResearch for all the latest building and construction market news.
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