New York, United States , Dec. 14, 2023 (GLOBE NEWSWIRE) -- The Artificial Plants and Foliage Market Size is to Grow Insignificant in 2022 to Significant pace by 2032, at a Compound Annual Growth Rate (CAGR) of 5.4% during the projected period.
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Succulents, trees, flowers, topiary, and other various types of artificial plants and foliage are available. Artificial flowers are a popular option for various types of decoration. Several businesses and organizations are replacing natural plants with artificial plants for interior design and décor. Most of these artificial plants have the potential to catch fire at events and weddings; therefore, people are becoming more aware and have begun using fire-retardant artificial plants and flowers that are not extremely flammable and reduce the risk of causing fire. The primary driver for these markets is in the commercial sector as an indoor decoration that requires no care other than regular cleaning. As a result, the commercial market for artificial plants grows. The desire for convenience among millennials has raised the demand for artificial plants. Replication of rare and lovely plants that are difficult to find and maintain in various weather conditions is also a significant sales driver. Many people throughout the world are sensitive to various plants, thus artificial plants and foliage might be a perfect solution for them as well. Customers may find it difficult to switch to artificial plants because they do not deliver the same benefits that natural plants do, such as air cleaning and oxygen emission throughout the day.
COVID-19 Impact
The beginning of COVID-19 has had a negative impact on every industry due to a shortage of workers and the closure of operations, which has significantly hampered the production of numerous consumer goods and other commodities. The coronavirus outbreak has caused an ecological disaster and every part of the world has seen a drop in economic growth. The artificial plants market was heavily impacted because all customers' primary attention was on livelihood essentials, leaving aside non-essential items, resulting in a decrease in demand for artificial plants.
Browse key industry insights spread across 200 pages with 150 market data tables and figures & charts from the report on "Global Artificial Plants and Foliage Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Whole Plants & Trees, Stem Flowers, Wood & Branches, Grass, Others), By Application (Commercial, Residential, Others), By Distribution Channel (Offline, Online), By Material Type (Silk, Plastic, Rubber, Paper, Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The whole plants & trees segment dominates the market with the largest revenue share over the forecast period.
Based on product type, the global artificial plants and foliage market is segmented into whole plants & trees, stem flowers, wood & branches, grass, and others Among these, the whole plants & trees segment is dominating the market with the largest revenue share over the forecast period. These plants are usually available and appear to be natural plants or copies of natural plants. It has a low maintenance cost and is simple to clean. Interior use, household use, and commercial use are driving the demand for these plants.
The residential segment is witnessing significant CAGR growth over the forecast period.
Based on Application, the global artificial plants and foliage market is segmented into commercial, residential. Among these, the residential segment is witnessing significant CAGR growth over the forecast period. The use of artificial plants in balconies, terraces, and backyards of homes and flats is growing the global artificial plants market. Artificial plants and foliage with low maintenance costs and attractive designs are expected to increase in the market throughout the forecast period. Artificial plants are less expensive to purchase than natural one.
The offline segment is expected to hold the rapid revenue growth of the global Artificial Plants and Foliage market during the forecast period.
Based on the distribution channel, the global artificial plants and foliage market is classified into offline and online. Among these, the offline segment is expected to grow at a rapid pace during the forecast period. Multiple sellers and dealers provide many artificial plants at low prices in offline stores and malls. Customers may quickly find and purchase it when they need it based on their specifications such as size, quality, colours, and patterns. Customers can evaluate the quality of the goods at offline retailers; hence the offline segment is expected to develop significantly during the projection period.
The silk segment is projected to grow at the highest CAGR in the market during the forecast period.
Based on material type, the global artificial plants and foliage market is segmented into silk, plastic, rubber, paper, and others. Among these, the silk segment grows at highest CAGR growth over the forecast period. Eco-friendly artificial plants and flowers made of natural fabric are attracting more customers. It is easily accessible at a low cost, resulting in lower production costs. Moreover, silk artificial plants are water resistant and can last for several years. It lowers maintenance costs.
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North America dominates the market with the largest market share of more than 33.3% over the forecast period.
Over the forecast period, North America will hold the biggest market share. Because of the increased demand for artificial plants and foliage for events and interior decoration of homes, societies, and apartments. Also, the employment of new technology in the production of artificial plants and foliage will drive the market in North America during the projection period. Over the predicted period, Europe accounted for the significant CAGR rise.
Europe is the world's largest exporter of natural plants, particularly the Netherlands and Germany, but they also have a strong market for artificial plants and foliage due to their use in a variety of occasions and purposes. a rapid population growth. The Asia-Pacific market is predicted to develop at the fastest rate over the forecast period. Furthermore, the artificial plant market in the region is predicted to grow in the coming years due to an increase in busy lives and greater earning capability. Increasing demand for artificial plants for interior or exterior decorating will also boost the growth of the Asia Pacific artificial plants and foliage market during the forecast period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Artificial Plants and Foliage Market are The Green House, Treelocate Ltd., Sharetrade Artificial Plant and Tree Co. Ltd., International Plantworks, Nearly Natural, J.S. Flower Company Limited, Commercial Silk Int'l & Plantscape Inc, China Silk Flower Factory, GreenTurf, International TreeScapes LLC, and Others.
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Recent Market Developments
In August 2021, Vistafolia, a global manufacturer and provider of realistic fake green walls, has collaborated with the University of Surrey to develop a new base polymer for artificial plants. The plant material is made from renewable resources.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the global artificial plants and foliage market based on the below-mentioned segments:
Artificial Plants and Foliage Market, Product Type Analysis
- Whole Plants & Trees
- Stem Flowers
- Wood & Branches
- Grass
- Others
Artificial Plants and Foliage Market, Application Analysis
- Commercial
- Residential
- Others
Artificial Plants and Foliage Market, Distribution Channel Analysis
- Online
- Offline
Artificial Plants and Foliage Market, Material Type Analysis
- Silk
- Plastic
- Rubber
- Paper
- Others
Artificial Plants and Foliage Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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