Floriculture Market Size, Share, And Trends By Product Type (Cut Flowers, Bedding Plants, Potted Plants, Others), By Flower Type (Rose, Chrysanthemum, Tulip, Gerbera, Carnations, Freesia, Others), By Application (Personal Use, Decorations, Wedding And Events, Holidays And Occasions, Others), By Price Range (Low, Medium, Premium, Specialty Stores, Others), And Geography - Forecasts From 2024 To 2029

Floriculture is a type of ornamental horticulture that studies the growing and marketing of flowers and ornamental plants as well as flower arrangement in the market. it can also be defined as the cultivation and management of ornamental and flowering plants. The different varieties of flowers that are cultivated in floriculture include Roses, carnations, orchids, chrysanthemums, lilies, gerbera, and several other fresh-cut flowers.

Introduction:

The global floriculture market is expected to witness a significant increase in growth during the forecasted period of 2024-2029 due to several factors, such as rapid e-commerce growth, increasing government support, and the apiculture market growth driving the floriculture market growth.

Market Drivers:

• The rapid growth of e-commerce: The increasing growth of e-commerce will drive the growth of the global online retail of floral products. Due to the advancement of technology allowing consumers to purchase and sell various kinds of products in the online market, the growth of global floriculture is expected to be influenced by the increase of e-commerce worldwide. The UNCTAD stated that the global online retail sales share from the total retail sales increased from an estimated 16% to 19% in 2020. It was also stated that global e-commerce sales increased by 4%, which is an increase of $26.7 trillion from 2018 to 2019. This increase in e-commerce sales, coupled with the increasing number of online retailers for flower products, will be expected to drive the global floriculture market growth during the forecasted period.
• Increasing government support: The increasing support of the government drives the floriculture market growth during the forecasted period. Government initiatives and missions drive the increase in the production and cultivation of flowers in the market, further increasing the growth of the overall flower market during the forecasted period. For instance, the CSIR Floriculture Mission was launched in March 2021 by several scientists from CSIR Laboratories with collaborations with several government institutions and establishments, which include the Indian Council of Agricultural Research (ICAR)-Directorate of Floriculture; Tribal Cooperative Marketing Development Federation of India Ltd. (TRIFED); Agricultural and Processed Food Products Export Development Authority (APEDA), Ministry of Commerce; Khadi and Village Industries Commission (KVIC); Fragrance and Flavour Development Centre (FFDC), Kannauj, Ministry of Micro, Small and Medium Enterprises (MSME) and Universities. This mission was launched with the expectations of creating opportunities for entrepreneurship development in floriculture, with the infusion of the latest technologies in the field of floriculture successfully led by CSIR. The mission focuses on commercial floral crops, wild ornamentals, seasonal annual crops, and the cultivation of flower crops for apiculture. The increase in support by the government with such initiatives will drive the global and regional floriculture market growth during the forecast period.
• Growth of the apiculture market: Flowers are known to be a core part of apiculture. Apiculture is the cultivation of bees for the production of honey. The increase in honey production is completely dependent on the nectar that is produced from specific flowers, which include sunflowers, white wild indigo, bee balms, purple coneflower, joe-pye weed, and many others. The increase in honey production will drive the growth of more flowers in the cultivation fields, leading to an increase in the global floriculture market growth. The NITI Ayog of India states that the apiculture market is expected to witness an increase of a CAGR of 4.3% in 2020-2025 and is expected to reach Rs 33,128 million by 2024. The recorded export of natural honey accounted for an estimated 59,536 MT, with a valuation of Rs 633.82 crore. As the increased growth of the apiculture market takes place, the increase in demand for flowers with better nectar and pollen production is to be expected during the forecasted period.

Key Players:

• Syngenta Flowers: One of the global leaders and a multinational company known for the production of seeds, young plants, and cuttings for flower growers in the market. They are known for being a sustainable flower producer, with a wide range of products and services.
• Selecta Cut Flowers: A global leader that is known for the breeding, production, and marketing of cut flower plants in the market, with a wide variety, including carnations, gerberas, gypsophilas, solidagos, and chrysanthemums.

Regional Analysis:

The North American region is expected to witness significant growth in the floriculture market during the forecasted period of 2024-2029. The significance of flowers in American society has been displaying an increase in trend as time passes, with several applications such as gifts, decorations, ornaments, and many others. SAFNOW.org states that the different types of flowers people prefer in America include outdoor bedding/ garden plants (46%), fresh flowers (34%), and flowering/green houseplants (20%). It was also stated that 77% of the American people who buy flowers purchase them for an occasion or reason, whereas the remaining purchase flowers with no reason behind it. The increase in the popularity of flowers will be expected to drive the regional floriculture market growth during the forecasted period. The total floriculture items sales, which include flowers, seeds, and potted plants, in all retail outlets in the United States accounted for an estimated US$51.9 billion in 2021, which is an increase from US$41.2 billion in 2020. The total value of sales across all floriculture crops in the United States accounted for an estimated US$6.43 billion in May 2021, accounting for 12,154 retail florist shops, 500 floral wholesalers, and 9,558 domestic floriculture growers. It was also stated that the US per capita spending on flowers, seeds, and potted plants accounted for an estimated US$170.88 in 2021, which is an increase from US$140.93 in 2020. This increase in the sales and popularity of floriculture drives the regional floriculture market growth during the forecasted period.

Segmentation:

• By Product Type:
  • Cut Flowers
  • Bedding Plants
  • Potted Plants
  • Others
• By Flower Type:
  • Rose
  • Chrysanthemum
  • Tulip
  • Gerbera
  • Carnations
  • Freesia
  • Others
• By Application:
  • Personal Use
  • Decorations
  • Wedding and Events
  • Holidays and Occasions
  • Others
• By Price Range:
  • Low
  • Medium
  • Premium
  • Specialty Stores
  • Others
• By Geography:
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others