DIY Home Improvement Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026).

Market Overview

The DIY home improvement market is projected to register a CAGR greater than 3% during the forecast period, 2021-2026.

The industry for do-it-yourself (DIY) home improvement retailing has observed a notable growth during the COVID-19 pandemic. DIYers in developed and developing countries are investing time to complete home improvement projects as majority of the people are under COVID-19 lockdown. Majority of the DIYers are engaged in gardening practices to enhance customers’ living space to keep them entertained during the lockdown situation. Such factors are driving the demand for DIY products amid COVID-19.

Do-it-yourself (DIY) is the activity of designing and modifying any project yourself. This technique allows customers to develop eye-catching projects without any professional help. It is a comprehensive term that mainly refers to developing or modifying innovative products like shoe holders, letter boards, wall painting, and many others. DIY home improvement products that are used in building maintenance, plumbing, and other home improvement purposes are considered the target products of the market. DIY home improvement products and activities allow homeowners to execute tasks by themselves with the help of DIY home improvement tools, equipment, and appliances. The changes in lifestyles have increased interest in DIY interior designing. Moreover, in the developing regions, the growing population of working women and their participation in the decision-making process for home decoration are also boosting the sales of products required for such projects. Subsequently, there is increasing adoption of DIY home improvement products. The use of DIY products lowers long-term costs than work outsourced to expensive labor. Therefore, the demand for DIY home improvement products is a major factor driving the market studied.

Scope of the Report

"Do-it-yourself" ("DIY") is the method of building, modifying, or repairing things without the direct aid of experts or professionals. A complete background analysis of the DIY home improvement market, including the assessment of the economy and contribution of the sectors in the economy, market overview, market size estimation for key segments and emerging trends in the market segments, market dynamics and insights, and key statistics, is covered in the report. The Market Is Segmented By Product Type (Lumber and Landscape Management, Décor and Indoor Garden, Kitchen, Painting and Wallpaper, Tools and Hardware, Building Materials, Lighting, Plumbing and Equipment, Flooring, Repair and Replacement, and Electrical Work), By Distribution Channel (DIY Home Improvement Stores, Specialty Stores, Online, Furniture, and Other Physical Stores), and By Geography (North America, South America, Europe, Asia-Pacific, and Middle-East and Africa). 

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Key Market Trends

DIY Shops are Preferable Distribution Channels

As a majority of DIY resources are online, in-store display plays a major role in how DIY consumers learn to manage DIYs. Big-box retailers have seen a boost in sales by implementing these tactics, and these are also just as useful for small and local home improvement businesses. Most often, small businesses excel over the big box stores in terms of customer service and store-consumer relationships. 82% of all DIYers are likely to explore products in the store, even if the final purchase is made online, and millennial DIYers are more likely to seek the product and make the final purchase of quality products in-store, especially for products like paint.

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