Dublin, Jan. 28, 2024 (GLOBE NEWSWIRE) -- The "US Floriculture Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The United States Floriculture Market size is expected to grow from USD 49.02 billion in 2023 to USD 66.66 billion by 2028, at a CAGR of 6.34% during the forecast period (2023-2028).
Key Highlights
- According to the United States Department of Agriculture statistics, in terms of value, the states with higher floriculture sales were Florida, California, Michigan, New Jersey, Ohio, Texas, North Carolina, Pennsylvania, New York, and Connecticut. Florida had the biggest sales of USD 1.12 billion among the ten largest states in 2021, followed by California, which had sales of USD 962 million. These two states combined accounted for roughly one-third of all sales in the United States. Further, May is one of the most popular months for gifting and gardening with flowers, and Pennsylvania, California, Florida, New York, Michigan, Ohio, Wisconsin, Washington, New Jersey, and Oregon are the top ten states in the United States in terms of floriculture activity.
- Many regional companies, such as Costa Farms, the Sill, Zolfo Springs, and Bloomscape, are venturing into the cultivation of indoor plants, considering the competitive advantage of changing consumer preferences for houseplants. In addition, online auction of flowers has been gaining traction with the emerging online delivery retailers attracting a host of consumers with ease of accessibility, such as ProFlowers, The Bouqs Company, UrbanStems Inc., and 1-800-Flowers, among others which are driving the market.
Cut Flowers Growing at a Rapid Rate
- There is a growing demand for fresh-cut flowers in the United States. Apart from its domestic production, the country imports 80% of the cut flowers from other countries. To meet this demand, superior quality flowers are required at the distribution and consumer levels. Among the cut flowers, the lilies sector is the largest and fastest-growing market.
- In 2019, the Lilies segment accounted for 17.1% of the cut flowers segment in the US floriculture market. California, Colorado, and Illinois are significant states for the production of Lilies in the country. California is the major producer compared to the other states, with 100% of the quantity sold at the wholesale level. Around 66.7 million stems were sold, and the wholesale value of domestically produced cut flowers was USD 68.0 million.
- Colombia is the largest exporter of lilies to the United States, followed by Costa Rica and Ecuador. The import of lilies into the country is increasing as the demand rises. Based on ITC TradeMap, the total import value of lilies in 2017 was USD 58.68 million, which increased to USD 67.16 million in 2020.
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