Source: The Freedonia Group, Inc., Cleveland
According to Landscaping Products, a new Freedonia Group study, U.S. demand for landscaping products is projected to increase 7.6 percent per year to $5.9 billion in 2015. The demand will be promoted by a recovery in U.S. housing activity, including new construction and existing single-family home sales. Among markets, residential sales account for the largest share of landscaping products with 55 percent in 2010.
The study notes that hardscapes will experience the fastest growth through 2015 as consumers value outdoor living spaces. Concrete products will continue to account for the largest share of this segment, with paver and segmental retaining wall units sales forecast to achieve double-digit annual growth, a result of the recovering housing market, as well as greater penetration of permeable-type pavements in ecologically sensitive locations. Pavers, SRW, veneer stone and boulders are considered durable and attractive materials for constructing patios and walkways, and surrounds for outdoor fireplaces, ponds and in-ground swimming pools.
Further trends discussed in the study include gains in demand for decorative products—the largest segment with 44 percent of the market in 2010. Landscaping Products states that the segment will benefit from rapidly increasing interest in water features, such as ponds and fountains. — Freedonia Group, 440/684-960, [email protected]