The global floriculture market comprises cut flowers, cut foliage, bedding plants, potted plants and nursery plants which have excellent aesthetic value and offer relaxation to humans. Flowers are in high demand for various occasions, religious ceremonies, corporate gifting, and occasions like weddings and birthdays. The increasing working population and changing lifestyles have boosted the demand for cut flowers globally. Vertical farming techniques have allowed year-long production of flowers with less resources and space.
Global Floriculture Market Demand was valued at US$ 54.2 Bn in 2022 in terms of revenue, exhibiting a CAGR of 7.66 % during the forecast period (2023 to 2030)..
Key Takeaways
Key players: Key players operating in The Kariki Group, Dummen Orange, Syngenta Flowers. Inc., Karuturi Global Limited, Oserian Development Company Limited, Selecta Klemm GmbH & Co. KG., Marginpar BV, Ruparelia Group, Multiflora Ltd., and Karen Roses.
Key opportunities: Rapid urbanization and increasing per capita spending on non-essential luxury products like flowers present significant opportunities in emerging economies. The rising popularity of sustainability-focused vertical farming is also opening new avenues for floriculture businesses.
Technological advancements: Automated hydroponics and vertical farming systems have considerably boosted flower production capacities. IoT sensors are being used for precise environmental monitoring and resource optimization. Drones and robots are revolutionizing pollination, seeding, harvesting and logistics operations.
Floriculture Market drivers
The key driver for the Floriculture Market Demand is the growing expat population and influx of foreign direct investments in construction and real estate sectors of developing nations. Rapid urbanization and rising per capita incomes have augmented the demand for flowers in social gatherings, events, occasions, and as décor accessories. Changing lifestyles and increasing social media influence have made flowers an indispensable part of daily lives. The booming online flower delivery sector amidst the pandemic is a major growth enabler. Furthermore, vertical farming techniques have facilitated year-long production of flowers using least possible resources and space.
Floriculture Market Demand
The floriculture market Industry faces numerous challenges such as increasing freight and transportation costs, lack of proper cold chain facilities, shortage of skilled labor, rising costs of cultivation and farm inputs. High fuel costs and losses during transportation make the flowers expensive for consumers. Most developing countries lack efficient cold chain facilities which results in spoilage of perishable flowers during storage and transportation. The floriculture industry requires skilled greenhouse managers, gardeners and florists. However, there is shortage of trained professional labor. Cultivating exotic flowers involves high costs of modern greenhouses, fertilizers, pesticides which puts financial burden on small farmers. Climate change is also affecting flower production in certain regions due to unpredictable weather patterns.
SWOT Analysis
Strength: The global market for cut flowers is large with continuous demand from developed countries. There is wide variety of flowers that can be grown commercially using advanced cultivation technologies.
Weakness: Most farming is done on small scale with low productivity. High post-harvest losses due to lack of cold chain infrastructure. Dependence on imported hybrid varieties and farm inputs.
Opportunity: Rising flower cultivation and exports from developing countries. Demand for indigenous, organic flowers is increasing. Scope for collaboration with supermarkets & online retail platforms.
Threats: Natural calamities, pests & diseases. Stiff competition from low cost producer countries. Vulnerable to price fluctuations in international markets.
Geographical Regions in Terms of Value
Europe accounts for the largest share of over 40% in the global cut flower market in terms of value, led by Netherlands, Germany, UK. North America is the second largest region with U.S dominating the demand and import of various flowers. Asia Pacific region is growing at a rapid pace especially countries like India, China, Japan.
Fastest Growing Geographical Region
Asia Pacific region is projected to be the fastest growing market for cut flowers during forecast period till 2031. The rising middle class population, increasing per capita expenditure on gifts, occasions, parties in countries like India and China will drive the demand for cut flowers. Government support for floriculture exports will also boost the market growth in Asia Pacific region.
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Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
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