New York, US, July 28, 2021 (GLOBE NEWSWIRE) -- Artificial Plants Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Artificial Plants Market Information by Product Type, Material Type, End Use, Distribution Channel, and Region - Forecast till 2028”, the market is projected to reach USD 780.3 Million by 2028 registering a CAGR of 4.15%.
Primary Growth Boosters:
Artificial plants have become quite popular in the commercial sector over the years, used primarily as indoor decoration that require almost no maintenance. This has led to robust demand for artificial plants within the commercial sector. Moreover, millennials’ thirst for aesthetic convenience items and replication of exotic plants that are rare and are hard to maintain in certain weather conditions have driven sales to a large extent.
A huge population around the world are highly susceptible to numerous allergies from a variety of plants. This helps shed light on artificial plants, which have emerged as the best alternative for decorations. Consumers are also enamoured by artificial plants, given their high durability, which is not the case with natural decomposable plants.
Companies are mostly fixated on designing rare indoor artificial plants that have applications in commercial offices as well as hospitality centers, along with households. The product quality, beauty, and similarity with natural plants are the key focus areas of these companies. Reasonable prices for these plants, beautiful pots, as well as stones (accessories) are also provided by these companies to have an edge over their counterparts in the global market.
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Competitive Landscape:
The Major Vendors in the Global Artificial Plants Market are:
- The Green House (India)
- Treelocate Ltd. (UK)
- Sharetrade Artificial Plant and Tree Co. Ltd. (China)
- International Plantworks (US)
- Nearly Natural (US)
- J. S. Flower Company Limited (Thailand)
- Commercial Silk Int'l & Plantscape Inc (US)
- China Silk Flower Factory (China)
- GreenTurf (Singapore)
- International TreeScapes, LLC (US)
These vendors are focused on expanding their regional presence while launching newer and more innovative products via strategies that include collaborations, agreements, and partnerships.
Market Restraints:
The strong consumer base for real plants and flowers, considering their health and environmental benefits, can be a big challenge for artificial plants manufacturers across the globe.
Browse In-depth Market Research Report (90 Pages) on Artificial Plants: https://www.marketresearchfuture.com/reports/artificial-plants-market-10585
COVID-19 Analysis
The COVID-19 outbreak resulted in a huge economical downfall with the GDP of numerous countries sliding down to a single digit figure in the first half of 2020. The novel corona pandemic has led to a global lockdown that has compelled buyers to go for only essential commodities. This has meant lower demand for artificial plants and other decorative items in homes and commercial places. As a result, manufactures are increasingly adopting new strategies for survival, introducing new products and focusing extensively on strengthening their supply chains worldwide.
Market Segmentation
Product type, material type, end-user, and distribution channel are the key segments outlined in the MRFR report, in order to give an in-depth framework of the global industry.
Product type listed in the report include Whole Plants & Trees, Stem Flowers, Grass, Wood & Branches, and more. The global market is headed by the whole plants & trees segment as these product types elevate the aesthetic appeal of the location with requiring any time or money for maintenance.
Material types are Plastic, Silk, Paper, Rubber, and more. The material that notes highest demand among consumers is plastic as these are widely available, affordable, and are aesthetically pleasant.
Some of the major end-users are Commercial as well as Residential. Residential end-use is the top segment in the artificial plants industry, with homes forming the biggest part of the segment.
Distribution channels are Store-Based (Convenience Stores, Specialty Stores, Supermarkets & Hypermarkets) and Non-Store-Based. The non-store-based distribution channels form the leading segment in the global market, considering the surging popularity of the e-commerce sector along with company-owned websites. Rapid internet usage among companies and consumers has led to increased use of offline or non-store-based channels for selling and buying artificial plants.
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Regional Analysis:
North America is home to the biggest market for artificial plants, given the extensive product use for a number of occasions, functions, and festivals. The prevalence of proms, Quinceanera, weddings and more, the demand for artificial flowers and plants is significantly high across the United States, Mexico, and Canada. Artificial plants manufactured in the region are made to look a lot like real plants with the use of some of the latest technologies, which helps spark the interest of a higher number of consumers.
Asia Pacific is a fast-emerging market for artificial plants. The exploding population across China and India in line with the large number of festivals and different occasions every year present significant opportunities to regional and international players. Infrastructural advancements in the region are widening the application scope of artificial plants as well.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.