Published on: November 25, 2019
The floriculture market is expected to grow at a CAGR of 8.6% between 2022 and 2027. The size of the market is forecast to increase by USD 44.88 billion. The growth of the market is fueled by factors such as the high profits associated with growing ornamental plants, the use of flowers and plants for decorative purposes, and the growing prominence of online shopping.
Floriculture involves the cultivation and trade of flowers and ornamental plants for various purposes, including gifting, personal use, and aesthetic enhancement. It plays a significant role in agriculture and contributes to the economy through commercial floriculture activities. Demand for flowers and ornamental plants is rising, driven by factors such as urbanization, increasing disposable income, and changing consumer lifestyles.
Several trends are shaping the floriculture market, including the growing popularity of e-commerce platforms for purchasing flowers and plants, the increasing demand for exotic and unique varieties, and the adoption of sustainable practices in cultivation and production. The integration of flowers and plants into health and wellness routines is another growing trend.
Key drivers of the floriculture market include urbanization trends, which increase the demand for ornamental plants for landscaping and beautification purposes, and the rise of e-commerce platforms offering convenient access to a wide range of floral products. The growing awareness of the therapeutic benefits of flowers and plants in Ayurveda and native therapies is also driving market growth.
The floriculture market faces challenges such as climate fluctuations impacting agricultural yield, labor shortages in rural areas, price fluctuations, and competition from artificial flowers. Additionally, the perishable nature of floral products poses challenges related to storage and transportation.
Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market. Europe is projected to account for 29% of the global market’s growth by 2027, but APAC is also a significant market for floriculture. In China, prominent provinces that import flowers include Beijing, Shanghai, Guangdong, Zhejiang, and Yunnan. The different types of flowering plants imported into these provinces include potted plants, fresh-cut flowers, seedlings, cut leaves and branches, and flower bulbs. These flowering plants are imported from countries such as Japan, Chile, Vietnam, and New Zealand, among others. These factors indicate that the demand for potted flowering plants is on the rise in China.
In India, flowers are used in multiple festivals, especially religious festivals and special occasions, such as Diwali, weddings, and others. However, most of the demand for flowers is fulfilled by local markets that sell fresh flowers directly to customers. Therefore, such factors will boost regional growth during the forecast period.
Technavio's floriculture industry reports monitor the leading players in the global market along with their current and forecasted market share. Our analysis covers regional and global companies. Some of the top companies covered in our floriculture market reports include:
In order to provide you with a comprehensive view of the floriculture industry, our experts analyze the market from many different perspectives. Our reports help identify opportunities, risks, key competitors, and more, helping you make timely, informed decisions to optimize your position in the market.
Technavio reports insights include:
Develop a deeper understanding of the floriculture market with Technavio’s comprehensive market research reports. We provide the latest information on key industry dynamics, including global and regional market forecasts, internal and external pressure points, the vendor landscape, and more.
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