Sweden DIY Home Improvement Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The do-it-yourself (DIY) home improvement retailing market increased significantly during the COVID-19 outbreak. The majority of people are devoting their attention to home renovation projects while under COVID-19 lockdown. To enhance their clients' living areas and keep them engaged during the lockdown, the mass of DIYers are working on gardening projects.

Construction, iron, and paints accounted for 55 % of total sales in Sweden in 2020, with furniture accounting for 41 %. Physical Stores of sweden accounting 55% share for most recent furniture purchases by consumeres in 2020, followed by online stores which registered 42%.

In Sweden growing popularity of smart kitchens in home renovations is due to rising demand for simple add-ons like self-regulating dispensers, motion-sensing water faucets, and chillers with a one-touch function. Additionally, efficient storage cabinetry, new appliance types and preferences, hardwood flooring, backsplash trends, and an efficient link to the outdoors will all contribute to the overall industry's favourable outlook. Soaring mortgage and interest rates, as well as rising new house costs, are pushing millennial spending on home improvements.

Key Market Trends

Interest in Customized Interior Design and Renovation is Rising

As people's lifestyles have improved in Sweden, DIY interior design has risen in popularity. In addition, the growing number of working women and their engagement in the house design decision-making process is boosting sales of materials required for such projects. As a result, home remodelling goods for do-it-yourselfers are becoming increasingly popular in Sweden. In the long run, DIY things are less expensive than paying expensive labor. Customers' desire to change their houses and gardens has grown. Because of changing consumer tastes toward outdoor leisure activities, the home renovation market is booming. Newly painted walls, improved windowpanes and doors, garden accessories, and other improvements have been made to the outside. They improve the aesthetic of the home while also improving its function and structure.

Rapid Urbanization and Population Growth are Accelerating the Market

The expanding population, which is boosting building activity throughout the residential sector as more housing units are required to fulfil the growing population's housing demands, is one of the primary drivers driving market expansion in Sweden over the next five years. Likewise, increased building activities in Sweden are expected to stimulate home improvement demand in the future years. 88 % of Sweden's population lives in cities. Rising urbanization is expected to increase market growth potential for vendors and manufacturers. As the population of cities grows, so will the need for residential spaces, which will drive up the demand for DIY home improvement.

Competitive Landscape

Sweden DIY Home Improvement market is fragmented, with many small and mid-sized companies. To accommodate the increased demand for low-cost DIY items, several local market participants are rapidly expanding their market presence. They're also putting money into research and development, with an emphasis on product creation, frequent new products, and expanded product availability, as well as pricing and mergers and acquisitions plans.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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