Floriculture Market Poised to Grow Significantly Due to Rising Demand for Ornamental Plants

 

The global floriculture market comprises cultivation and trade of cut flowers and ornamental or potted plants. It involves propagating, growing, harvesting, and bringing flowers and ornamental plants to market. The industry has witnessed considerable growth over the past few years owing to increased consumer spending on gifts, occasions, parties, and other events.

Global floriculture market 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).

Floriculture Market Demand has become a profitable business worldwide as flowers carry cultural, religious and emotional value. The availability of varied and exotic flowers throughout the year due to modern greenhouse cultivation is driving the demand.

Key Takeaways

Key players - Key players operating in the floriculture are Floranext, Karuturi Global Ltd., Fluonia, Flower Soul, Verbeek Export B.V, and Selecta one.

Key opportunities - Rising demand for exotic flowers especially orchids and anthuriums from developing countries presents significant growth opportunities. Further, online flower delivery platforms are enhancing access to a vast variety of flowers.

Global expansion - Leading floriculture companies are expanding globally through acquisitions and contract farming to ensure year-round supplies and cater to diverse consumer preferences across major flower importing countries.

Market drivers

A major market driver is the increasing consumer spending on celebrations and gifting occasions. Floriculture being an integral part of traditions and ceremonies worldwide like marriages, festivals, corporate gifting is driving consistent demand. Availability of flowers throughout the year due to advanced greenhouse cultivation techniques is another key factor fueling the market growth.

PEST Analysis
Political: The government focuses on increasing the area under cultivation of floriculture crops and supporting farmers through various subsidies and incentives. Certain trade policies and regulations impact the import and export of floriculture products.

Economic: Changes in the overall economic conditions, availability of financing options, consumption patterns affect the demand and sales of floriculture products. Higher disposable incomes boost the floriculture market.

Social: Rising environmental concerns stimulate the demand for organic and eco-friendly flowers. Changing preferences towards gifting flowers on various occasions and events augment the market growth. Increasing popularity of indoor plants positively influences the market.

Technological: Advanced hydroponics, greenhouse farming, automated irrigation systems, logistics help increase year-round production and improve the supply chain. Use of seeds with new varieties and traits enhances productivity. Digital platforms aid efficient distribution and marketing.

Geographical regions of concentration
Europe accounts for the major share of the Floriculture Market Regional Analysis value due to the high consumption of cut flowers, especially roses, tulips, carnations. The Netherlands, Italy, Germany are the leading flower producers and exporters in Europe. Developed flower cultivation practices, established distribution networks, and high living standards in this region boost the market.

Fastest growing region
Asia Pacific exhibits substantial growth in the floriculture industry owing to the increasing initiatives to promote commercial floriculture farming in countries like China, India. Supportive climatic conditions favor large-scale production. Rapid urbanization, rising disposable incomes, and changing lifestyle in Asia Pacific escalate the demand for floriculture products.

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About Author:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)

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