Conventional Lawn & Garden Hoses Continue to Dominate Watering Products Market despite New Product Offerings

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Oct 28, 2019, 09:47 ET

CLEVELAND, Oct. 28, 2019 /PRNewswire/ -- 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

About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.

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SOURCE The Freedonia Group