Consumers' strong desires for outdoor living spaces will positively impact demand for high-value hardscape products and outdoor heating implements, according to a forecast from The Freedonia Group. Demand for hardscape products is expected to increase 5.4% annually through 2023, driven by products such as stamped concrete plank pavers that resemble wood, natural stone products, porcelain pavers, and permeable pavers that can prevent water runoff and flooding issues. Overall growth in the landscaping products market is projected to grow 4.4% per year through 2023.
The Cleveland-based research group classifies outdoor living as activities such as lounging, cooking and dining, entertaining guests, gardening and landscaping, and tailgating. According to The Freedonia Group, as consumers seek to expand the square footage of their homes by creating outdoor rooms, they will increasingly invest in more-expensive hardscape products.
The research group projects that fire pits and chimeneas will see renewed interest from homeowners seeking to add ambiance to their outdoor rooms and extend their outdoor leisure time, especially in cool climates where outdoor living is seasonally limited.
The full study, Landscaping Products, is available for $5,600 from The Freedonia Group.