According to recent findings from Future Market Insights (FMI), the floriculture market‘s value stands at USD 57.5 billion in 2023, with projections indicating a significant surge to USD 106.1 billion by 2033. This growth trajectory is attributed to a Compound Annual Growth Rate (CAGR) of 6.3% from 2023 onwards.
The flower power is undeniable! The global floriculture industry is experiencing a vibrant upswing, driven by several key factors:
- Growing Affluence: Rising disposable incomes are putting more blooms within reach of consumers worldwide.
- Blossoming Preferences: A shift towards floral décor is flourishing, with consumers seeking to beautify their homes and events with flowers.
- Urban Jungle Trend: Rapid urbanization is fueling the need for greenery, with horticulture playing a growing role in interior design, particularly in workplaces.
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This robust market growth paints a rosy picture for the floriculture industry, presenting a wealth of opportunities for businesses:
- Capitalize on Demand: The flourishing market offers fertile ground for businesses to cater to the ever-growing demand for flowers.
- Diverse Floral Delights: From expressing love and sympathy to creating aesthetically pleasing and environmentally conscious spaces, flowers offer a diverse range of applications to meet various consumer needs.
The floriculture industry is poised for continued growth, fueled by a combination of rising consumer interest and a burgeoning need for floral artistry. This fragrant trend benefits not only businesses but also uplifts spirits and fosters a connection with nature in our everyday lives.
The market for floriculture, which is mostly supported by cut flowers, will grow significantly thanks to the recent explosion in the popularity of edible flowers.
Institutions/events currently holding around 3/5 of the share in the market would remain the prominent adopters of floriculture items.
Huge potential for flowers for the purpose of decoration throughout multiple occasions would fuel the growth of the institutions/events segment during the forecast period.
Key Takeaways – Global Floriculture Market Study
- Europe is expected to retain its dominant position in the global floriculture market, attributed to increasing adoption of gardening activities in the region.
- Among product type, the cut flowers segment is considered a key contributor to growth of the global floriculture market, due to high consumption of fresh roses in decorations such as bouquets at events, vase arrangements, and as gifts on special occasions.
- The cut foliage segment is expected to witness a significant CAGR in the global floriculture market, owing to increasing use of mix bouquets in flower arrangements at events and festivals.
Rising Environmental and Social Responsibility to Shape Market Trends
Consumers demand sustainably produced flowers, attributable to increasing consumer awareness regarding environmental and social impact of production and trade of floriculture products worldwide. Thus, all participants in the floriculture value chain aim adopt sustainable agricultural practices such as integrating pest management and conservation agriculture to reduce negative impact of their activities on the environment.
Consumers in the market are also willing to pay more for sustainably grown flowers. Thus, companies aim to obtain certifications and are offering fair trade, FPP, and other certified flowers to their consumers in order to improve their market position.
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Competitive Landscape
Prominent players in the global floriculture market
- Forest Produce Ltd.
- Selecta Cut Flowers SAU.
- Native Floral Group
- Tropical Foliage Plants, Inc.
- Oserian Group
- Esmeralda Farms
- Marginpar BV
- DOS GRrINGOS, LLC
- Flamingo Horticulture Ltd.
- Danziger Group
- Florensis Flower Seeds UK Ltd.
- Verbeek Export B.V.
- Florance Flora
- Others (As per Request)
Players in the floriculture industry are focusing on Asia for production and sales of commercial floriculture products, owing to significant rise in demand for low cost flowers in this region. Companies are also entering various strategic partnerships with domestic players to expand their market footprint.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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