Floriculture Market-Global Industry Analysis and Forecast (2022-2029)

Floriculture Market reached a value of US $ 50.50 Bn. in 2021. Cut Flower is one of the dominating segment of the Global Floriculture Market.
Floriculture Market Overview:
Floriculture is a discipline of horticulture dealing with the cultivation and marketing of flowers and ornamental plants. The floriculture industry is consists of greenhouse and field production of floral and ornamental plants. The Floriculture crops consist of bedding plants, houseplants, house-flowers, flowering gardens, and pot plants, cut cultivated greens, and cut flowers. Generally, flowers are used for decoration, aesthetics, and to exchange greetings. Flowers are connected with prosperity and well-being, resulting in benefitting the floriculture market across the globe.


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2021 is considered as a base year to forecast the market from 2022 to 2029. 2021’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2021. 2020 is a year of exception and analyzed especially with the impact of lockdown by region.
Floriculture Market Dynamics:
The Floriculture market is showing a continuous northward direction growth, thanks to the factors such as changes in consumer lifestyles and growing use of flowers for various applications such as conferences and Activities, Personal use, and Gifts. The increasing sales of flowers via online and offline distribution channels are fuelling the product demand across the globe. The biggest floral event of the year is Valentine’s Day followed by Christmas and then Mother’s Day. Combined they account for 59% of annual revenues recorded by most floristry businesses. According to a report, about 77% of flower purchases involve a specific occasion, in which Birthdays and Anniversaries account for 29% of annual sales.

The growing use of biotechnology solutions for floriculture to genetically modify the color, shape, postharvest life, and abiotic stress, and insect resistance of flowering ornamental plants are fueling the product demand. In addition, biotechnological approaches enable flowers to survive in extreme climatic conditions and reduce the risks of flower producers. In addition, technological developments in cold storage technology, improved supply management, and the application of biotechnology solutions to produce unique and disease-resistant flower varieties are expected to drive floriculture market growth during the forecast period.

The growing e-commerce industry along with penetration of the internet and smartphone across the globe are driving the growth of the floriculture market. In addition Shift to virtualized trade network aids in logistics coordination and information availability in the floriculture supply chain. It helps all participants in the supply chain management to access real-time information in the floriculture supply chain and ensures smooth, cost-effective, and faster distributions of floriculture products. These factors are also boosting market growth across the globe.
Global Floriculture Market Segment Analysis:
Based on the Type, the Floriculture Market is segmented into Cut Flowers, Bedding Plants, Potted Plants, and Others. The Cut Flowers segment held the largest market share accounting for 83% in 2021. The segment growth is attributed to the rising popularity of cut flowers among consumers, thanks to their sweet odor and beauty. In addition, Cut flowers are easy to handle and harvest, and they are resistant to disease and pests. The cut flowers segment is expected to witness a significant contribution to the GDP of Kenya, where they are the second-most exported products followed by tea. However, with changing consumer preferences for flowers and floral decoration, floral designers are mixing cut flowers with cut foliages and dried botanicals to get a beautiful texture, resulting in growing product demand during the forecast period.

Based on the Application, the Floriculture Market is segmented into conferences and Activities, Personal use, Gift, and Others. The Gift segment held the largest market share, accounting for 57% in 2021. The gift segment growth is attributed to increased use of flowers used for gifting on special events or occasions such as birthdays, family functions, valentine's day, mother's day, and among others are boosting the floriculture market growth across the globe. According to a report, in 2021, more than 60% of all flowers and ornamental plants sold across the globe are purchased as a gift, 20% of those are purchased for weddings or funerals and approximately 20% are purchased for the home or office.


Global Floriculture Market Regional Insights:
Asia Pacific region held the largest market share accounted for 35% in 2021, and is expected to grow at a CAGR of 7.8% during the forecast period. The region's growth is attributed to the rising demand for flowers from consumers and the rise in the production of flowers in developing countries such as India and China. North America region is expected to witness significant growth at a CAGR of 7.6% during the forecast period. Changing consumer preferences from traditional flowers to cut flowers is primarily fueling the product demand in the region. Europe region is expected to grow with the highest CAGR of 8.3% during the forecast period and region growth is attributed to the rising production and consumption of flowers in the region. In addition, the launch of the Dutch auctions, which is the largest trading system for flowers and plants across the globe, in Europe is expected to boost the floriculture market growth in Europe.

The objective of the report is to present a comprehensive analysis of the Floriculture Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Floriculture Market dynamic, structure by analyzing the market segments and projecting the Floriculture Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Floriculture Market make the report investor’s guide.
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Global Floriculture Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2022
Market Size in 2021:
US $ 50.50Bn.


Forecast Period 2022 to 2029 CAGR:
8.1%
Market Size in 2029:
US $ 94.17 Bn.


 Segments Covered:
by Type
• Cut Flowers
• Bedding Plants
• Potted Plants
• Others


by Application
• Conference and Activities
• Personal use
• Gift
• Others



• North America
• Europe
• Asia Pacific
• South America
• The Middle East and Africa
Global Floriculture Market Key Players
• Kariki
• Multiflora
• Karen Roses
• Harvest Flower
• Queens Group
• Ball Horticultural
• Afriflora
• Karuturi
• Oserian
• Selecta One
• Washington Bulb
• Arcangeli Giovanni & Figlio
• Carzan Flowers
• Rosebud
• Benary
• Danziger
• Sakata
Frequently Asked Questions:
1] What segments are covered in the Floriculture Market report?
Ans. The segments covered in the Floriculture Market report are based on Type and Application.

2] Which region is expected to hold the highest share in the Floriculture Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Floriculture Market.

3] What is the market size of the Floriculture Market by 2029?
Ans. The market size of the Floriculture Market by 2029 is US $ 94.17 Bn.

4] What is the forecast period for the Floriculture Market?
Ans. The Forecast period for the Floriculture Market is 2022-2029.

5] What was the market size of the Floriculture Market in 2021?
Ans. The market size of the Floriculture Market in 2021 was US $ 50.50Bn.