The market research company Euromonitor International estimates the volume of the global home and garden market (home improvement, garden, household goods, furniture and furnishings) at USD 1 065.644 bn (EUR 956.053 bn) in 2020. A current brief overview study (“Industry discussion about home and garden”) forecasts market growth of 2.1 percent annually worldwide between 2020 and 2025.
Only for three countries does this forecast see negative rates of change: between 0 and -0.2 per cent for Germany and the UK, between -0.2 and -0.5 per cent for Japan. The highest increases (3.5 to 8.2 per cent) are expected for China, India, Brazil and Argentina, among others.
A baseline assumption of this forecast is that out-of-home spending will have fallen by 9 per cent globally in 2020. Conversely, consumers spent 4 per cent more at home than in the previous year.
The home improvement and garden industry has also benefited from this shift in spending, for example on travel or restaurant visits, towards consumption at home. The survey assumes growth rates of between 5 and 20 per cent for this industry in 2021.