New York, United States, Jan. 18, 2024 (GLOBE NEWSWIRE) -- The Floriculture Market Size is to Grow from USD 53.6 Billion in 2022 to 101.9 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.6% during the projected period. Floriculture is a horticultural discipline concerned with the cultivation and marketing of flowers and ornamental plants in greenhouses and the field.
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Floriculture is the cultivation of flowers and ornamental plants in greenhouses as well as in the field and selling. Floriculture crops include bedding plants, houseplants, house-flowers, flowering gardens, pot plants, cut cultivated greens, and cut flowers. Flowers are frequently used for ornamentation, aesthetics, and greetings. Flowers are associated with wealth and happiness, which benefits the global floriculture industry. Customers are concerned about the availability of green spaces, which are thought to improve both mental health and air quality. Several primary variables influence the floriculture market, including rising consumer product demand, effective promotional strategies in opportunities, and significant financial investments in product development. Industries are also trying to supply the market with a sufficient quantity of products to meet the growing demand. One of the key factors driving the floriculture market is the high profits related to growing decorative plants. Weather conditions have a significant impact on the flower and decorative plant industries. Some decorative plants may experience poor growth as a result of shorter, wetter days and a lack of sunlight. While the majority of plant species require a lot of sunlight to thrive, some can even thrive in the shade.
COVID-19 Impact
The COVID-19 pandemic confined people to their homes and forced many non-essential businesses to close, stranding thousands of small and marginal farmers and causing plans to cultivate a variety of flowering plants to fail. The transition to a virtualized trade network also allows for improved logistics coordination and information availability in the floriculture supply chain, resulting in smoother, more cost-effective, and faster deliveries of floriculture products.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the "Global Floriculture Market Size, Share, and COVID-19 Impact Analysis, By Type (Cut Flowers, Bedding Plants, Potted Plants, Others), By Application (Conferences & Activities, Personal Use, Gift, Others), By Flower Type (Rose, Chrysanthemum, Tulip, Lily, Gerbera, Carnations, Texas Bluebell, Freesia, Hydrangea, Others), By Sales Channel (Direct Sales, Speciality Stores, Franchises, Florists & Kiosks, Supermarkets/Hypermarkets, Small Stores, Online Retailers, 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 cut flowers segment dominates the market with the largest revenue share over the forecast period.
Based on type, the global floriculture market is segmented into cut flowers, bedding plants, potted plants, and others. Among these, the cut flowers segment is dominating the market with the largest revenue share over the forecast period. Cut flowers are becoming increasingly popular with consumers due to their attractiveness and pleasant scent, which is driving the segment's growth. Cut flowers are also disease and pest-resistant, as well as easy to handle and harvest. Due to shifting consumer preferences for flowers and floral arrangements, floral designers are combining cut flowers with cut foliage and dried plants to create a lovely texture, which will increase product demand and drive the floriculture market over the forecast period.
The gift segment is witnessing significant CAGR growth over the forecast period.
Based on applications, the global floriculture market is segmented into conferences & activities, personal use, gifts, and others. Among these, the gift segment is witnessing significant CAGR growth over the forecast period. The rising use of flowers for gifting on special events or occasions such as birthdays, family functions, Valentine's Day, Mother’s Day, and others is driving the floriculture market growth. Flowers are also used for decorations for events, car decorations, and various types of functions. There is a huge demand for natural decorative flowers by consumers which is driving global floriculture market growth during the forecast period.
The online retailer segment is expected to hold a substantial share of the global floriculture market during the forecast period.
Based on the sales channel, the global floriculture market is classified into direct sales, specialty stores, franchises, florists & kiosks, supermarkets/hypermarkets, small stores, online retailers, and others. Among these, the online retailer segment is expected to hold the largest share of the floriculture market during the forecast period. Increased smartphone and internet use, as well as an increase in the population of tech-savvy millennial consumers, are expected to drive the floriculture market's growth over the forecast period. Additionally, when compared to traditional florist shops and retail outlets, the use of online retailer's channels for flower sales is gaining traction.
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Asia Pacific dominates the market with the largest market share of more than 35.3% over the forecast period.
Asia Pacific is dominating the market with more than 35.3% market share over the forecast period. Flowers are used for traditional and cultural purposes throughout Asia Pacific. The rapid industrialization has increased the number of businesses in the region. As a result, the use of flowers in corporate events, regular floral installations throughout corporate offices, and recreational activities has increased. China, Japan, and India are the region's major leading producers and contributors to market growth. The Europe region is experiencing fastest growth due to the highest land area covered with flowers, ornamental plants, and nursery plants. Furthermore, the rising demand for potted or flowering plants in the European region is expected to hold significant growth 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 Floriculture market include Kariki, Multiflora, Karen Roses, Harvest Flower, Queens Group, Ball Horticultural, Afriflora, Karuturi, Oserian, Selecta One, Washington Bulb, Arcangeli Giovanni & Figlio, Carzan Flowers, Rosebud, Benary and among others.
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Recent Developments
- In November 2022, Marginpar BV completed the establishment of its new headquarters in the Netherlands and will relocate to 'Aalsmeer-Oost' by the end of 2022. This location will assist the company in developing a new product street in the area while utilizing Royal FloraHolland's logistical advantage.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the global floriculture market based on the below-mentioned segments:
Floriculture Market, Type Analysis
- Cut Flowers
- Bedding Plants
- Potted Plants
- Others
Floriculture Market, Application Analysis
- Conferences & Activities
- Personal use
- Gift
- Others
Floriculture Market, Sales Channel Analysis
- Direct Sales
- Speciality Stores
- Franchises
- Florists & Kiosks
- Supermarkets/Hypermarkets
- Small Stores
- Online Retailers
- Others
Floriculture 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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