Floriculture Market Demand is Anticipated to Witness High Growth Owing to Increasing Demand for Flowers
Vishal Chavan
The global floriculture market industry consists of cut flowers, cut foliage, plants and flower seeds. Cut flowers are the most popular floriculture products which include roses, carnations, chrysanthemums, lilies and others. They find wide applications in gifting, garlands, home and corporate decor. Cut foliage includes eucalyptus, ferns, asparagus, palm leaves and Christmas trees. Flower cultivation requires specific climate, soil and growing conditions which makes it a technical business. Mechanization and automation have increased productivity and yield in floriculture farms.
Global Floriculture Market Demand was valued at US$ 54.2 Bn in 2022 in terms of revenue, exhibiting a CAGR of 7.66 % during the forecast period (2023 to 2030).
Key Takeaways
The Kariki Group, Dummen Orange, Syngenta Flowers. Inc., Karuturi Global Limited, Oserian Development Company Limited, Selecta Klemm GmbH & Co. KG., Marginpar BV, Ruparelia Group, Multiflora Ltd., and Karen Roses.
The key opportunities in the Floriculture Market Demand include rising demand for exotic flowers from developing countries, collaboration of farmers with online delivery platforms and increasing exports of cut flowers from Africa and Latin America.
Major players are expanding globally through strategic acquisitions and partnerships. For example, Dümmen Orange acquired Meristem International to strengthen its presence in Africa. Florists in developing countries also collaborate with global distributors and retailers to reach untapped international markets.
Market drivers
Increasing disposable income and gifting culture have augmented the demand for flowers especially in Asia Pacific and Middle East regions. Changing lifestyle and rising trend of self-care have made flowers an essential part of day to day living.
Market restrain
The floriculture industry faces challenges such as high production costs, dependency on climate and seasons, vulnerability to diseases and supply chain disruptions. Lack of standardized postharvest facilities and technologies also affect the quality and shelf life of cut flowers globally.
Segment Analysis
The floriculture market can be segmented based on type which includes cut flowers, potted plants, bedding plants and others. Among these, cut flowers is the dominating sub-segment holding around 50% share. Cut flowers are preferred more by consumers for decorating purposes in festivals, special occasions, weddings and other ceremonies. They add aesthetic beauty and are reasonably priced. Moreover, expanding organized retail has also boosted sales of pre-packed bouquets and individual cut flowers over the last few years.
Global Analysis
Regionally, Asia Pacific region is the fastest growing as well as dominating region in the floriculture market. Countries like China, India, Indonesia, Japan etc. account for over 35% share of the global market currently. Asia Pacific represents lucrative opportunities owing to large consumer base, increasing consumption of flowers in festivals and ceremonies, and rising middle class population willing to spend on flowers. Additionally, favorable climatic conditions support flower cultivation and availability throughout the year in many Asian countries. Europe is another major regional market led by Netherlands, Italy, Germany and UK. North America and Latin America are steady regional markets driven by the US and Brazil respectively.
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