Dublin, Jan. 17, 2024 (GLOBE NEWSWIRE) -- The "Bonsai Market - Forecasts from 2023 to 2028" report has been added to ResearchAndMarkets.com's offering.
The global bonsai market is witnessing a significant surge in interest and is set to expand further at a robust Compound Annual Growth Rate (CAGR) of 6.52% from 2023 to 2028, following its valuation at US$5.842 billion in the year 2021.
With the aesthetic appeal of bonsai trees and the art of miniature tree cultivation gaining momentum worldwide, several factors are contributing to the market's upward trend. Urbanization has led to a reduction in agricultural space, prompting city dwellers to adopt bonsai trees as a means to incorporate greenery within their limited living spaces.
The bonsai practice, deeply embedded in Japanese culture, emphasizes the significance of patience, offering a hobby that resonates with the contemporary axiom of mindfulness and stress reduction.
Growing Popularity of Bonsai Across Regions
The Asia Pacific region is expected to dominate the bonsai market, acknowledging the existing cultural affinity towards miniature tree cultivation. Europe and North America are also forecasting steady growth, supported by high disposable incomes and a burgeoning interest in this unique form of horticulture.
The traditional art form of bonsai is becoming accessible and affordable, which has contributed to its popularity. Market participants are also focusing on innovative product offerings, enhancing the consumer experience of bonsai cultivation.
Market Developments and Key Segments
- Aesthetic and Ecological Benefits Driving Adoption: Bonsai trees are not only known for their decorative prowess but also for contributing to a healthier environment by balancing ecosystems.
- Manufacturers Innovate To Sustain Growth: Key players in the market are progressively engaging in product innovation, thereby enriching the bonsai culture and its associated markets.
- Segment Analysis: The market segments cover various species including outdoor, deciduous, flowering, indoor, and needle tree species, among others; structured into categories such as landscape and stumps.
The bonsai market distributors such as Bonsai Haat and Leaf Baba exemplify the thriving commerce facilitated by this traditional art form. Additionally, recent advancements in the sector, including Bonsai World and the revitalization of bonsai clubs, signal a robust community and marketplace.
This study represents an essential resource for those invested in the bonsai market, from cultivators and retailers to landscape architects and conservationists.
Report Segmentation:
By Species
- Outdoor Species
- Deciduous Tree Species
- Tree Species With Flowers
- Indoor Species
- Needle Tree Species
By Structure
- Landscape
- Stumps
By Application
- Customized
- Wholesale
Company Profiles
- MiniGardens Bonsai NZ Ltd.
- Lodder Bonsai bv
- Dongyi Artificial Plants Co.
- easternleaf.com
- BRUSSEL'S BONSAI
- Love My Bonsai
- Abana Homes
- Bonsai Direct.
- House of Bonsai
For more information about this report visit https://www.researchandmarkets.com/r/ckcxo2
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