Facts and Factors Market Research has published a new report titled “Floriculture Market By Product Type (Cut Flowers, Plants, Cut Foliage, and Propagation Material), By End-Use (Personal Use, Industrial, and Institutions/ Events), and By Sales Channel (Direct, Online Retailers, Specialty Stores, Supermarkets, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”. According to the report, the global floriculture market was valued at approximately USD 70.90 billion in 2018 and is expected to reach a value of around USD 134.17 billion by 2027, at a CAGR of around 7.3 % between 2019 and 2027.
Floriculture is a branch of horticulture that exhibits the cultivation of both flowers & ornamental plants for gardens and floristry. Floriculture includes flowering plants, bedding plants, houseplants, pot plants, and cut flowers. Flowering plants are sold in pots and they include poinsettias, florist azaleas & chrysanthemums, foliage plants, and orchids. Bedding & garden plants include young flowering plants as well as vegetable plants.
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Rise in the online sales of flowers to boost the market trends
The rise in the usage of smartphones and internet along with a rise in population of the tech-savvy millennial consumer is expected to drive the growth of floriculture market over the forecast timeline. Moreover, the use of online distribution channels for flower sale is gaining more prominence as compared to retail outlets & traditional florist shops.
Moreover, escalating awareness about the cut flowers along with growing demand for these flowers in countries like India & China during festivals is likely to boost the floriculture market trends. Apart from this, the massive need for high-quality flowers and use of biotechnology for altering the color of flowers to help them survive in extreme climates will boost the expansion of the floriculture industry during the forecast timeframe.
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Furthermore, the rise in the specialized retail channels like supermarkets across the developed economies such as the UK will boost the sale of floriculture products, thereby steering the growth of floriculture industry during the forecast timeline. Nonetheless, less promotion of exporting floricultural products due to export constraints and rapid change in the buying behavior of the customer will restrict the growth of the industry over the forecast timespan.
Cut flowers to dominate the product type segment over the forecast timeline
The cut flower segment, which accrued the revenue of nearly USD 32.52 billion in 2018, is expected to dominate the overall market revenue by 2027. Introduction of new technologies across the cut flower sector to enhance its output, as well as usage, will propel the growth of the segment during the forecast timeline. Apart from this, the massive use of the cut flowers for decoration including vase arrangements, funerals, and weddings along with the use of these products to beautify households & public places will drive the segmental growth over the forecast timeframe.
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The institutions/events to lead the end-use segment over the forecast timeline
The growth of the institutions/events segment can be attributed to the massive demand for flowers for the purpose of decoration during numerous occasions will drive the growth of the segment during the estimated timeline. During the events, flowers are used for exchanging greetings and purpose of aesthetics in many countries across the globe and this will propel the segmental growth over the forecast period.
Europe to dominate the regional market revenue share over the forecast timeline
Europe is slated to contribute a major revenue share of the overall market during the period from 2019 to 2027. The regional market growth can be attributed to countries like Holland being the largest sellers of cut flowers to other countries. Apart from this, the increase in the pot plant production in the region along with highest density flower production per land hectare in Europe will further accelerate the regional market growth trends. Countries like the UK and Germany are likely to be the major regional revenue pockets.
Some of the major participants in the floriculture industry include Selecta Klemm GmbH & Co. KG, Oserian Development Company Limited, Ruparelia Group, Karen Roses, The Kariki Group, Syngenta Flowers Inc., Karuturi Global Limited, Multiflora Ltd., Dumman Orange, and Beekenkamp Plants BV.
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This report segments the floriculture market as follows:
Global Floriculture Market: By Product Type Segment Analysis
- Cut Flowers
- Cut Foliage
- Propagation Material
Global Floriculture Market: By End-Use Segment Analysis
- Personal Use
- Institutions/ Events
Global Floriculture Market: By Sales Channel Segment Analysis
- Online Retailers
- Specialty Stores
Global Floriculture Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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