Dublin, Sept. 14, 2023 (GLOBE NEWSWIRE) -- The "US Outdoor Living Products Market Report 2023" has been added to ResearchAndMarkets.com's offering.
Despite a 5.1% predicted decline in demand, 2023 levels remain notably above pre-pandemic figures
Key Highlights:
- The "US Outdoor Living Products Market Report 2023" suggests a 5.1% decline in demand, amounting to $41 billion. However, despite this drop, 2023 spending levels are significantly higher than those of 2020 and pre-pandemic years.
- The inflationary environment is causing price sensitivity, with consumers valuing quality over low costs. This has, in some instances, led to a rise in prices rather than an increase in sales volume.
- DIY (Do It Yourself) culture in home improvement remains popular, thanks to the widespread availability of home improvement guidance. Nevertheless, DIFM (Do It For Me) landscaping services are witnessing a resurgence, albeit hampered by inflation and a labor shortage in the sector.
- Product innovation remains a key driver in the market, with a focus on sustainability, smart technology, and user-friendly items.
- The urban demographic, primarily Millennials, shows a preference for environmentally friendly products. The rise in urban living promotes sales in indoor gardening products and container gardening.
- Concerns about air and noise pollution have caused shifts in the outdoor product market, leading to the development of quieter and eco-friendly equipment.
- Lot size, largely influenced by geographical location, plays a vital role in purchasing decisions. The trend shows urban residents favoring smaller, quieter equipment.
- Remodeling remains a significant driver for outdoor living installations, with prefabricated and modular systems making the process easier for homeowners.
Detailed Insights:
The report provides a comprehensive view of the outdoor living market, including detailed insights into factors impacting demand, such as homeownership trends, climate, sustainability, and technological advancements.
Segments covered extensively in the report include:
- Overview and Short-Term Trends
- Factors Impacting Outdoor Living Product Demand
- Lawn & Yard Maintenance
- Outdoor Cooking, Entertaining, & Recreation
- Gardening
- Outdoor Design & Landscape Materials
For a complete look at the research and to dive deeper into these insights, visit https://www.researchandmarkets.com/r/yr7oq7
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