Market Insights Consumer DIY & Hardware Store

Paint, Wallpaper & Supplies - Canada

Canada

In Canada, the revenue generated in the Paint, Wallpaper & Supplies market in 2024 amounts to €3.42bn.
Looking ahead, the market is projected to grow annually by 3.08% (CAGR 2024-2029).
Compared to other countries worldwide, in the United States leads in terms of revenue generation, with €47,830m in 2024.
When considering the population, per person revenues reach €87.47 in 2024.
The demand for eco-friendly paint and wallpaper options is on the rise in Canada, driven by the country's strong commitment to sustainability.

Key regions: Japan, Indonesia, Turkey, Germany, Worldwide

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Analyst Opinion

The DIY & Hardware Store market in Canada is seeing negligible growth, impacted by factors such as consumer preference for online shopping and decreased demand for home improvement projects due to the pandemic.

Customer preferences: As more consumers become concerned about the environmental impact of their purchases, there has been a noticeable increase in demand for eco-friendly and sustainable paint and wallpaper options. This trend is influenced by a growing awareness of the negative effects of traditional paint and wallpaper materials on human health and the environment. As a result, DIY and hardware stores are expanding their selection of environmentally-friendly products to cater to this consumer preference.

Trends in the market: In Canada, there is a growing trend of eco-friendly and sustainable options in the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market. This includes the use of natural, non-toxic materials and a shift towards environmentally-friendly production processes. This trend is significant as consumers are becoming more conscious of their impact on the environment and are actively seeking out eco-friendly products. For industry stakeholders, this trend presents an opportunity to tap into the growing demand for sustainable options and differentiate themselves in the market. Potential implications include the need for companies to adapt their production processes and sourcing methods to meet the demand for eco-friendly products.

Local special circumstances: In Canada, the Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market is influenced by the country's extreme weather conditions, leading to a high demand for weather-resistant and long-lasting products. Additionally, the unique bilingual landscape in Canada has also contributed to a diverse range of products and marketing strategies to cater to both English and French-speaking consumers. Furthermore, Canada's strict regulations on environmental sustainability have prompted the market to prioritize eco-friendly and low VOC products, setting it apart from other markets.

Underlying macroeconomic factors: The Paint, Wallpaper & Supplies Market within the DIY & Hardware Store Market in Canada is influenced by macroeconomic factors such as economic stability, consumer spending, and government policies. With a strong and stable economy, consumers are more likely to invest in home improvement projects, driving the demand for paint, wallpaper, and other supplies. Additionally, favorable fiscal policies, such as tax incentives for home renovations, can further boost market growth. However, fluctuations in the global economy and trade policies may impact the availability and cost of raw materials used in manufacturing these products, ultimately affecting market performance. As the Canadian population continues to grow and age, there is a growing need for affordable and accessible home improvement solutions, making the paint, wallpaper, and supplies market a promising growth sector in the country.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are segmented by product type and consist of the following: Paint, Wallpaper & Supplies, Tools & Machines, Hardware and Building Materials, Lawn & Garden, Heating & Cooling, Bathroom Hardware, and Floor Covering.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as product value, import value, and export value to determine domestic supply. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are turnover indices, GDP per capita, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.