DIY To Drive Home Improvement Product Market
Amid the COVID-19 crisis and the looming economic recession, the global home improvement products market will grow by a projected US$210.9 billion at a compound annual growth rate (CAGR) of 3.4 per cent through 2028, says a report by ReportLinker. The do-it-yourself (DIY) segment is forecast to grow at over 3.3 per cent and reach a market size of $812.2 billion by the end of the analysis period. The report says that as an unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The DIY market will be reset to a new normal which, going forward in a post COVID-19 era, will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change, and continuously adapt to new and evolving market conditions.