GLOBAL DIY HOME IMPROVEMENT RETAILING MARKET EXPECTED TO GROW AT 4.37%

By 2030,

the global do-it-yourself (DIY) home-improvement retailing market is predicted to grow immensely, chiefly due to growing disposable income of global populations. Also, availability of a wide range of DIY paint products is expected to make the painting sub-segment the most dominant one. The North America region is predicted to be the most profitable one by 2030. According to the newly published Research Dive report, the market is anticipated to rise at a stable CAGR of 4.37%, thereby garnering a revenue of $1,278.0 billion in the 2022-2030 timeframe.

The Covid-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The do-it-yourself (DIY) home improvement retailing market, however, was positively impacted by the pandemic. The lockdowns forced people to engage in any repair work at their homes themselves. Moreover, many people took up gardening practices in order to beautify their home exteriors and keep themselves busy. These factors helped in the growth of the market in the forecast period.

A growing number of environmentally friendly DIY projects is predicted to offer numerous growth opportunities in the forecast period. Moreover, a gradual shift away from the “use-and-throw-away" culture is expected to help the market register substantial growth in the coming period. However, according to market analysts, lack of experts in the field might become a restraint in the growth of the DIY homeimprovement market.