Dublin, Sept. 05, 2023 (GLOBE NEWSWIRE) -- The "Global Cut Flowers Market, By Type, By Application, By Flower Colors, By Distribution Channel, Estimation & Forecast, 2018 - 2031" report has been added to ResearchAndMarkets.com's offering.
The global cut flowers market, valued at USD 30,630.37 million in 2022, is set to flourish with a projected market value of USD 51,908.73 million by 2031, exhibiting a Compound Annual Growth Rate (CAGR) of 6.25% during the forecast period. The market volume of 3,052.01 thousand units in 2022 is expected to witness a 5% growth rate over the forecasted period.
Driving Factors
- Health Advantages Propel Demand: Cut flowers offer health benefits by enhancing indoor air quality through the removal of harmful chemicals and pollutants. These natural air purifiers contribute to improved air quality. Moreover, studies indicate that flowers positively impact hospital patient recovery time, leading to reduced pain, anxiety, fatigue, and better physiological indicators. The growing awareness of these health advantages is elevating the demand for cut flowers across various settings, including homes, events, and corporate environments.
- Retail and Hospitality Application Soar: The usage of cut flowers in retail and hospitality sectors is a prime driver of market growth. Cut flowers have gained popularity in these domains for their ability to enhance beauty, color, and fragrance, fostering welcoming environments for customers and guests. They are vital in visual merchandising, window displays, interior decoration, and creating ambiance. In retail, flowers highlight products, creating a pleasant shopping experience, while in hospitality, they adorn lobbies, conference rooms, guest areas, and event spaces, augmenting customer experience.
Segmental Insights
- Roses Reign in Type Segment: The rose segment is anticipated to demonstrate remarkable growth with the fastest CAGR of 7.2%, and it held the largest market share of 42.8% in 2022.
- Commercial Sector Dominates Application: The commercial segment, including restaurants, cafes, hotels, airports, weddings, and salons, is projected to hold the highest CAGR of 6.9% over the forecast period. It also commanded a significant market share of 84.6% in 2022.
- Purple and Blue Lead Flower Colors: The purple, lavender, or blue segment claimed the highest market share of 33.7% in 2022. The white segment is projected to experience the highest CAGR of 33.7% over the forecast period.
- Online Channel Dominates Distribution: The online distribution channel captured the largest market share of 84.3% in 2022 and is poised to grow at a CAGR of 6.6% from 2023 to 2031.
Regional Overview
- Europe's Prominence: Europe held the largest market share of 58.4% in 2022. The North American market is segmented into the US, Canada, and Mexico. The Middle East & Africa region is expected to achieve the fastest growth rate of 7% over the forecast period.
Competitive Landscape
Key players in the cut flowers market include Afriflora Sher, Dummen Orange, MultiFlora, Karen Roses, Oserian, Selecta One, Rosebud Limited, The Kariki Group, Washington Bulb Co., Inc., and The Queen's Flowers. These players collectively represent around 40% of the market share. Notably, an experimental project involving players like Sher Ethiopia, Ziway Roses, AQ Roses, Braam Roses, and Herburg Roses aims to tackle water hyacinth issues in Lake Ziway.
Conclusion
The global cut flowers market is poised for steady growth driven by health benefits, growing awareness, and expanding applications in retail and hospitality. Roses, commercial applications, and online distribution are among the market's focal points. With a focus on innovation, market players are contributing to the growth of this blossoming industry.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 356 |
| Forecast Period | 2022 - 2031 |
| Estimated Market Value (USD) in 2022 | $30630.37 Million |
| Forecasted Market Value (USD) by 2031 | $51908.73 Million |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/ksm1v2
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