(MENAFN- EIN Presswire) Floriculture Market - PMI
The report“Floriculture Market, By Product Type, By Application - Trends, Analysis and Forecast till 2032''
COVINA, CALIFORNIA, UNITED STATES, March 24, 2023/einpresswire.com / -- According to the latest research study, the demand of floriculture market accounted for US$ 54.2 billion in 2022 and is estimated to be US$ 121.8 billion by 2032 and is anticipated to register a CAGR of 7.9%.
The floriculture market refers to the cultivation and sale of flowers and plants, including cut flowers, potted plants, and bedding plants. This industry is driven by consumer demand for ornamental plants for personal and commercial use, including weddings, funerals, and events. The global floriculture market is a multi-billion-dollar industry that is expected to continue growing due to increasing urbanization, rising disposable income, and growing interest in gardening and home décor. However, the industry also faces challenges such as climate change, pest and disease management, and supply chain disruptions.
Report Metrics:
Report Attribute - Details
Market Size - US$ 54.2 billion
CAGR – 7.9%
Base Year - 2022
Forecast Period – 2022 - 2032
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Key Highlights:
.In March 2021, (India) Union Health Minister launched Dr. Harsh Vardhan launched new“CSIR Floriculture Mission” to focus on seasonal/annual crops, commercial floral crops, cultivation of flower crops for honey bee rearing and wild ornaments. This mission is approved for implementation in 21 States and Union Territories of India to raise nurseries, floriculture farming, to employ large number of people, and to provide entrepreneurship development for value addition, nursery trade and export.
.In February 2022, Royal Van Zanten and The Queen's Flowers (world leaders in floriculture) has joined forces to create brand new flower“Astranova”. Newly introduced“Astranova” is a flower with unique look, dark & bright color and has above average vase life.
Analyst View:
The key factor driving the growth of the Floriculture market is rising inclination towards flowering of plants. Rise in standard of living and modernization has given rise in use of flowers in decoration, cosmetics, perfumes and gifts has driven market growth. Further, rising demand for cut flowers, increasing awareness of high profits associated with cultivation of ornamental plants and growing expansion of horticulture industries is expected to fruitful demand for Floriculture market growth over the forecast period.
Key Market Insights from the report:
Floriculture Market accounted for US$ 54.2 billion in 2022 and is estimated to be US$ 121.8 billion by 2032 and is anticipated to register a CAGR of 7.9%. The Floriculture Market is segmented based on Product Type, Application, and Region.
.Based on Product Type, Floriculture Market is segmented into Cut Flowers, Pot Plants, Cut Foliage, Bedding Plants, and Others.
.Based on Application, Floriculture Market is segmented into Gifts, Decoration, Cosmetics, Perfumes, and Pharmaceuticals.
.By Region, the Floriculture Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
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Competitive Analysis:
The prominent players operating in the Floriculture Market includes, Queens Group, Multiflora, Dümmen Orange, Karuturi Global Ltd., Syngenta Flowers. Inc., Selecta One, Oserian, Arcangeli Giovanni & Figlio, Kariki Group, Carzan Flowers Ltd., Rosebud, Washington Bulb Co., Inc., Ball Horticultural Company, Karen Roses, and Beekenkamp Plants BV., and others.
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Drivers and Restrains of Floriculture Market:
For companies and organisations looking to comprehend their clients, rivals, and the larger market, market research is a crucial instrument. Nonetheless, the market research sector is vulnerable to a variety of factors and restraints that can have an impact on its growth and development, just like any other business.
Drivers:
.Increasing consumer demand: Consumers' growing interest in gardening, home decor, and floral gifts is driving the demand for floriculture products.
.Urbanization: The growing trend of urbanization has led to a rise in the demand for indoor plants and ornamental plants for urban spaces, such as balconies and patios.
.Rising disposable income: As disposable incomes rise, consumers are more willing to spend money on ornamental plants and flowers for personal use or as gifts.
.Growing popularity of floral events: Weddings, funerals, and other events are increasingly incorporating flowers and plants, driving demand for floriculture products.
.Technological advancements: Innovations in cultivation techniques, including hydroponics and greenhouse farming, are helping to improve the efficiency and productivity of the floriculture industry.
Restrains:
.Climate change: Extreme weather events, such as floods, droughts, and storms, can damage crops and disrupt supply chains, affecting the profitability of the floriculture industry.
.Pests and diseases: The floriculture industry is vulnerable to pest and disease outbreaks, which can cause significant losses and lead to the use of harmful chemicals for control.
.Supply chain disruptions: Transportation and logistics challenges, such as delays at ports or airports, can lead to product spoilage and impact market demand.
.Competition from artificial flowers: The growing popularity of artificial flowers, which are low maintenance and long-lasting, poses a threat to the floriculture industry.
.High production costs: The cost of production, including labor, energy, and transportation, can be high in the floriculture industry, which can impact the profitability of businesses.
Key Reasons to Purchase:
1.Market research: A report on the floriculture market provides valuable market research that can help businesses make informed decisions about their operations, including product development, marketing, and sales strategies.
2.Industry analysis: The report can provide a comprehensive analysis of the floriculture industry, including market size, trends, and forecasts, as well as competitor analysis and market segmentation.
3.Investment decision-making: For investors looking to invest in the floriculture industry, a report can provide valuable insights into the market's growth potential, risks, and opportunities.
4.Business planning: A report on the floriculture market can help businesses plan and execute their strategies, including identifying potential partnerships, expanding into new markets, and improving operational efficiency.
5.Regulatory compliance: A report can provide information on the regulatory landscape of the floriculture industry, including laws and regulations related to production, trade, and transportation.
For people who want to learn more about a topic, industry, or market and who appreciate the knowledge and expertise offered by a thorough, well-researched paper, purchasing a report may generally be a reasonable investment.
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