Floriculture Market Size (2023 - 2030)

The global floriculture market size was worth USD 43.22 million in 2022 and is expected to reach USD 70.85 billion by 2030 with a CAGR of 6.3% during the forecast period 2023 - 2030. The market is driven by factors like the growing demand for flowers for occasions like birthdays, decorations, anniversaries, valentine’s day, mother’s day, festivals, and many more. 

Floriculture is also known as flower farming. Flower farming deals in flowering and ornamental flowers. Floriculture is a type of horticulture focusing on cultivating a variety of flowers. 

The novel coronavirus has significantly affected the floriculture market. The nations imposed a global lockdown that has large businesses sectors. During the lockdown period in the first half of 2022, the import and export of flowers have declined due to the transportation and supply of the flowers has been stopped. 

Market Drivers

Factors like growing consumption of flowers on a large scale, gardening, and maintaining house plants by individuals are increasing propel the floriculture market growth during the timeline period. The growing disposable income of consumers who expose their purchasing interest in flowers and rising living standards of the surging population boost the floriculture market growth. 

Adopting new technologies and precise management in commercial floriculture resulting in high crop yield and growing use of modern technologies leading to profits owned by the farmers, and also the profit owned by the farmers is high per unit area r some of the factors driving the floriculture market growth. 

Flowers are used in native and Ayurveda therapies resulting in huge popularity, stimulating the market growth globally.

Market Restrains

Factors like the increasing need for artificial flowers hinder the floriculture market globally. The absence of knowledge about the advantages in rural areas and the expensive nature of the growing adoption of advanced technologies diminish the floriculture market growth. Hurdles that occur in maintaining the freshness of flowers and difficulties concerned with waste disposal limits the floriculture market growth during the timeline period.

FLORICULTURE MARKET REPORT COVERAGE

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Segmentation Analysis

The global floriculture market has been segmented and sub-segmented based on the following categories:

Floriculture Market - By Type

• Cut Flowers
• Pot Plants
• Cut Foliage
• Bedding Plants
• Corms
• Others

Cut flowers floriculture type hold 60% and more share due to growing population in urban areas and rising gifting culture. Cut flowers are the prime generator in terms of revenue and exhibit a prominent contribution in developing countries. The demand for cut flowers is driving the market in the Netherlands. 

Floriculture Market - By Application

• Aesthetic & Decoration
  • Household
  • Institutional
• Industrial
  • Flavors and Fragrances
  • Natural Colors
  • Medicines
  • Others

By application, the decoration segment dominated the floriculture market in 2018, as different products are extensively used for gifting and decorations on special occasions like anniversaries, birthdays, funerals, and festivals. 

Floriculture Market - By Price Range

• Premium
• Medium
• Low

Floriculture Market - By Distribution Channel

• Florist
• Unorganized Retail
• Online
• Supermarket/Hypermarket
• Others

By distribution channel, unorganized retail segment is said to lead the floriculture market over the historical period. 

Regional Analysis

Geographically, North America is said to have had a potential growth in the floriculture market during the historical period. The U.SS floriculture market in the U.S. exhibits the more profitable generating USD 12 billion by 2030. 

The European floriculture market is said to lead globally with the largest share in terms of revenue. The UK and Germany are at the forefront due to the growing demand for cut flowers and ornamental plants. Germany, UK, France, and Russia witness substantial growth in the floriculture market. German floriculture has a bright name in nursery stock and garden plants. In Italy, producing lots of flowers and potted plants is high which drives the floriculture market growth throughout the timeline period. 

The Vietnamese floriculture market is witnessed to grow with a CAGR of 10.20% owing to favorable agro-climatic conditions for flowers like rose, chrysanthemum, and less cost of floricultural procedures.

The Netherlands is the leading supplier of flowers which involves tulips and chrysanthemum. Floriculture is one of the profitable markets in the Netherlands. The Netherlands is the largest exporter of cut flowers globally. In 2022, as per the ITC trade map, 566,917 metric tons of cut flowers were exported in the Netherlands with a USD of 4,343,029 thousand. 

However, Asia-Pacific is expected to have the quickest growth with 37% of the share in the region. The market growth in the region is due to the growing expenses on flowers as gifts. China and Japan are the key countries for floriculture market growth in the APAC. China and India have the highest demand in the floriculture market due to the number of festivals and occasions, and due to high demand, high-quality flowers are exported and imported from one country to another country. 

The Indian market for floriculture is witnessing the highest demand and India is emerging as the primary producer of flowering plants due to the growing demand for flowers and Indian floriculture market is the largest importer and exporter of different types of flowers.

Latin American floriculture market is the second quickest growing region with a considerable CAGR growth rate throughout the timeline period. Brazil, Mexico, and Argentina are contributing a major share to the floriculture market. 

The Middle East & African region is believed to have notable growth during the forecast period. Africa is leading the floriculture market with the increasing number of agricultural-based countries and is the largest exporter to Europe. In Kenya, cut flowers represent a prominent contribution and are the second-most exported product. 

Key Market Players in Floriculture Market

Major players operating in the floriculture market include 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.

Notable Happenings in the global Floriculture Market

• On March 24, 2022, Dummen Orange disclosed New Guinea impatiens with a common flower form called Wild Romance. The flower is debuted in two colors. 
• On December 08, 2022, Syngenta Flowers Company completed the acquisition of hydrangea together with Hana Bay flowers from Bay City Co.