Landscaping and Gardening Service Market - Growth, Trends, and Forecast (2020 - 2025)
The Global Landscaping and Gardening Service market is projected to register a CAGR of 5.2% during the forecast period 2020-2025. Demographic shifts and lifestyle changes are creating new opportunities in the gardening and landscaping industry across the globe. Urbanization and increased trend of Nuclear families along with the higher millennials population have led to the gardening in small space surrounding the residence as the gardening is embraced as a hobby. Most importantly, the demand originates from the high-income demographic, which generates a healthy portion of the market revenue. North America dominates the market with some of the major companies in the region like BrightView Holdings, Inc., SMART STONE, Yellowstone Landscape, Denison Landscaping, and Asia Flora & Landscape Sdn. Bhd.
Key Market Trends
An Influx of Younger Homeowners Drives the Market
The new generation comprising mostly of the Millenials and Gen Z desires to maintain outdoor space in good condition in a way that helps the community and the environment. The millennial generation is showing greater interest in landscaping and gardening as they consider it as a hobby which led to the growing demand for mowing and landscaping services. According to the National Gardening Survey, in 2018, 38% of 18-34year old plans to spend more on lawn and garden activities compared to the overall average of 29%. This new generation embraces the technology better and is keen about saving money with new and improved practices that lessen the labor work. For instance, in 2019, iRobot introduced the Terra robot lawnmower, new technology in lawn care relies on sensors to cut grass without the need for human intervention. Through the iRobot home app, its operation can be supervised. Hence the increasing Millenials and Gen Z population along with increased innovative technologies are considered to drive the landscaping and gardening service market globally.
North America is Dominating the Market
Growing technical innovations, ornate hardscaping, contemporary features, lush gardens, and smart irrigation are all trending in the region and are anticipated to influence landscape and gardening service market. Statistics from the IBIS World 2018 landscaping services industry report shows that the landscape services industry has annual revenues of USD 93 billion, employs more than 1 million people, and represents 513,305 businesses. According to the state of the industry report, in 2017, the returning customers accounted for 74% of a company's base, while new customers accounted for 26% in the United States. This indicates the scope of market growth. Furthermore, consumer spending on lawn and gardening related activities is increasing. For instance, according to the National Gardening Survey, in 2018, the American gardeners' expense was recorded as USD 52.3 billion with a record average household expenditure of USD 503, more than USD 100 compared to the previous year.
The results of market share analysis indicate a very fragmented market, with the companies competing to gain market share, despite having diverse and increasing product portfolios. The players in the market are heavily investing in the landscaping service, to diversify their research divisions for expansion of the market. Some of the major companies in the market are BrightView Holdings, Inc., SMART STONE, Yellowstone Landscape, Denison Landscaping, and Asia Flora & Landscape Sdn. Bhd. In 2019, Companies such as Davey Tree Expert Company has acquired B. Haney & Sons Tree Service based in the greater Chicago area. From the acquisition, Davey and B. Haney together will be able to offer expanded service capabilities that benefit the customer. The technical knowledge, equipment, facilities, and arboriculture history of B. Haney will be a great complement to the existing business of The Davey Tree Expert Company.
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