Source: Freedonia Group, Cleveland
U.S. demand for landscaping products is projected to grow 6.9 percent per year through 2017 to $6.5 billion, reflecting a rebound in sales following the 2007–2009 recession and subsequent slow recovery—new housing start activity, climbing from low 2012 base levels, representing the primary growth driver.
“Permeable pavers for hardscaping are rapidly gaining popularity over ready mix concrete due to their ability to reduce water runoff, which can cause flooding and erosion, and pollute local water supplies … Drought conditions in many parts of the country have resulted in water restrictions, which have led to greater use of synthetic turf, hardscaping (e.g., patios, paths, and rock gardens), and potted plants instead of water-intensive grass lawns,” says Kevin Kelly, an analyst for market research firm Freedonia, whose new study, Landscape Products, tracks product and practice trends over the next five years.
The study finds hardscape product shipments growing at a nearly 10 percent rate through 2017, to $2.1 billion in sales, up from $1.3 billion in 2012. An acceleration in sales of existing homes, growth of consumer disposable income, and rebound in construction expenditures in the office and commercial segment will also support gains and landscape and hardscape products, authors note. The residential market remains the largest for the overall landscaping category, accounting for 58 percent of sales in 2012. The ongoing development and introduction of landscaping products that are environmentally friendly will also boost gains. Landscaping Products is available for $5,100 from The Freedonia Group, Inc., 440/684-9600; www.freedoniagroup.com.