The Home Improvement & Gardening Products segment in India registered Market value of USD 31,815.59 Millions in 2023
The indicator recorded a historical growth (CAGR) of 9.97% between 2020 to 2023, and is expected to grow by...
GlobalData projects the indicator to grow at a CAGR of...
The Market value of Home Improvement & Gardening Products Segment in India (2018 - 2026, USD Millions)
Home Improvement & Gardening Products Segment in India
The Indian home and garden products retail market experienced strong double-digit growth in the historic period but entered a steep decline in 2020 due to the impact of the COVID-19 pandemic. The market is expected to recover quickly in 2021, followed by strong growth across the remainder of the forecast period. The COVID-19 pandemic has caused significant disruption to the retail sector overall, and the home and garden products market has not been exempted from this. India has been one of the worst affected countries by the pandemic, recording the second highest number of cases and third highest number of deaths globally at the time of writing. When the virus first took hold in the country in the first quarter of 2020, the government implemented a nationwide lockdown in which all non-essential travel was prohibited, and non-essential businesses and industries were forced to close. These measures have been in place to varying degrees throughout the year, which has had severe consequences for retailers as footfall to stores has been reduced. This has led to a decline in the purchase of home and garden products, pushing the market into steep decline.
Category segmentation
Home improvement & gardening products are categorized into two major segments - Gardening & outdoor living and Home improvement.
Gardening and outdoor living: Includes garden buildings, manual and electric garden tools, garden utensils, outdoor living products (garden furniture, barbecues, ornaments), and plants and growing media (compost, domestic fertilizer, flowering plants, seeds, shrubs, and trees).
Home improvement: Includes decorating materials (paint, varnish, wall tiles, wallpaper), electricals hardware (alarms, light fittings, plugs, switches), hardware (brackets, locks, nails, bolts, nuts, etc.), other materials (adhesive, aggregates, boards, cement, doors, window frames, glass, bricks, timber, etc.), and manual & power tools.
Competitive landscape
Companies in the Indian market have historically benefited enormously from rapid economic growth, rising living standards, and increasing consumer activity. Firms such as Reliance have been performing very well under these market conditions, witnessing a strong rate of growth. However, this also means some players have struggled to adapt to an increasingly competitive market in which consumers can now exert greater downward pressure on prices thanks to greater competition between leading companies. The COVID-19 pandemic made for a difficult operating environment for the companies operating in this market in 2020, further heating up competition.
Market distribution
Home Improvement and Gardening Specialists form the leading distribution channel in the Indian home & garden product retail market.
Who are the leading players?
Nilkamal Ltd
United States of America
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Germany
China
United States of America
United States of America
United States of America
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