Floriculture Market Analysis - New Opportunities Explored, High CAGR & ROI Anticipated Till 2026: Radiant Insights, Inc.

Floriculture Market Analysis - New Opportunities Explored, High CAGR & ROI Anticipated Till 2026: Radiant Insights, Inc.

PR Newswire

SAN FRANCISCO, March 12, 2020

SAN FRANCISCO, March 12, 2020 /PRNewswire/ -- The global Floriculture Market is expected to witness a steady CAGR of 0.84% exhibiting a high revenue share by end of 2023. Cut flowers, pot plants, tubers, rooted cutting, etc. all together constitute the floriculture market. Rose, carn, chrysanthemum, gyposphila, liastris, orchids, tulip and lilies hold a high prominence in international market. The international market grew at around 10 percent in last decade owing to prevalence of government norms for import and export, and consumer trends.

Consumer spending for ornamental plants has grown in the past few years and the trend continues to gain tremendous traction. Indoor plants are known to improve indoor air quality and internal environment. In addition, plants and flowers play a therapeutic role in hospitals as patient recovery rate tends to be fast. Therefore, economic benefits of green space into business models creates value addition. From the consumer perspective, consumers have a huge preference for vibrant flowers with good fragrance. For instance, consumers demand flowers that prove beneficial in terms of enhancing mood and lowering anxiety.

In terms of trade, the floriculture market witness rise in IMEX business across the globe. Presence of stakeholders, distributors, supply chain dynamics in the retail and wholesale sector is contributing to global value chain. Floriculture is therefore expected to create a million jobs in the next three years. For instance, production of agro-chemicals, pesticides and plastic shade materials is likely to influence the commercial market in the following years.

The floriculture market is driven by huge demand for cut flowers in creative bouquets for various ritual and occasions. Major trends such as indoor gardening activities and high inclination for vertical farming setups, are highly witnessed. High awareness for green interiors and clean air is witnessed in corporate spaces, and therefore flowers serve a huge purpose in terms of enhancing indoor ambience and air quality. Moreover, setting up of botanical gardens and flower fairs are expected to contribute in the development of local markets, thus there is a high adoption for cut flowers and floral decors based on consumer preferences.

By product, the floriculture market can be segmented as cut flowers, bedding plants, potted plants and others. Cut flowers held a huge share in the product category attributing to increase in demand for floral decors and bouquet. Potted plants are gaining a huge market traction in the coming years driven by rising rate of indoor gardening.

By application, the floriculture market can be segmented as personal use, conference & activities, gift and others. Novel and innovative products such as flower planters are gaining a huge commercial exposure as a variety of flower items serve as gifts for various occasions. Flowers for conference and activities is gaining a steady traction owing to shift in trends in urban settings.

By region, the floriculture market can be segmented as North America, South America, Europe, Asia Pacific, Middle-East and Africa. Asia Pacific accounts for a significant share in the international market as Japan accounts for a huge import share for cut flowers from neighbouring countries. Road transportation for flowers is a major growth factor in Asia Pacific followed by boom in import and exports.

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Europe and North America hold a considerable share and exhibit growth opportunities in the coming years. For instance, UK and Germany are at the forefront of cultivating ornamental plants. E-commerce is substantially contributing towards development of regional business in Europe. North America is more likely to reveal a more mature market in the coming years backed by enormous demands for seasonal flowers.

Some of the key players in the floriculture market are Arcangeli Giovanni & Figlio, Syngenta Flowers, Dummen Orange, Karuturi, Oserian, Finlays, Selecta One, Washington Bulb, Carzan Flowers, Multiflora, Rosebud, Kariki, Harvest Roses, Queens Group and Ball Horticultural. The key players are adopting mergers and acquisitions, strategic alliances and collaboration as a part of expansion strategies.

Market participants anticipate that the total production value of floriculture will reach to 49082.37 million USD in 2023, with the CAGR of 0.84% during the period of 2016-2023.

Floriculture is a branch of horticulture addressing flower and ornamental plant cultivation and propagation of flowering plants for gardens, greenhouses, nurseries and landscapes comprising the floral industry. Floriculture crops include bedding plants, houseplants, flowering gardens and potted plants, cut cultivated greens, and cut flowers.

Floriculture involves propagating, growing and marketing cut flowers, flower seeds and seedlings, bulb growing, nursery operation, chemical protection of plants, post-harvest storage and handling and use of preservatives. It is an international, multi-billion-dollar industry.

The sales market share of global Floriculture in Personal use, Gift use, Conference & Activities use and other applications have been stable year by year, at 44.62%, 6.26%, 38.15% and 10.97% respectively in 2017, and for several consecutive years, the amplitude was within one percent. This indicates that the segment of the Floriculture in the global market tends to be fixed without great changes. Among them, the Floriculture market has the most promising sales prospects in Personal use.

Europe is the biggest contributor to the Floriculture revenue market, accounted for 55.29% of the total global market with a revenue of 25653.56 million USD in 2016, followed by North America, 12.97% with a revenue of 6019.03 million USD.

By air is the traditional transportation of floriculture. However, although the transport of flowers by sea container is still under development, the rise of transporting floriculture products by sea appears to be unstoppable. Transport by sea is substantially less expensive than transport by air. There is also growing knowledge about how to condition flowers in containers and there are more and more possibilities for monitoring the conditions in a container. This and increasingly better port facilities and availability of container ships make transport by sea attractive. With the gradual improvement of life quality, demand of floriculture keeps upward.

Access 110 page research report with TOC on "Global Floriculture Market Report" available with Radiant Insights, Inc. @: https://www.radiantinsights.com/research/global-floriculture-market-2020-2026

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