Floriculture Market – Insights
Floriculture is a branch of horticulture associated with the cultivation of flowering and ornamental plants to be utilized in various applications such as decoration and as raw material in personal care & cosmetics and pharmaceutical industry. In simple terms, floriculture can be defined as art and knowledge of growing flowers with perfection. Over 140 countries are involved in the field of commercial floriculture across the globe.
Global Floriculture market is projected to record substantial growth over the forecast period, owing to growth of cosmetics & personal care industry coupled with increasing awareness regarding medicinal properties of flowers. Apart from being used for decoration and perfumery purposes, they are also used as a medicine due to various health benefits associated with them. For instance, chrysanthemum has properties that help in reducing blood pressure and cure dizziness and insomnia.
Other flowers such as pot marigold is used as a remedy for inflamed skin and prevents the spread of infection, whereas purple corn flower helps in stimulating the immune system, which improves the body’s resistance against viral and bacterial infection. Moreover, lavender’s aroma calms down the nervous system, reduces muscle tension, and works as an antiseptic.
Moreover, various fresh flower scents are considered as a remedy in case of insomnia, disturbed sleep patterns, and drowsiness. Therefore, these flowers and cut plants having medicinal properties are expected to boost growth of the global floriculture market during the forecast period.
Global Floriculture market is likely to have negative impact, owing to harmful effects of pesticide and insecticides used in the production of flowers on larger scale. Furthermore, maintaining the quality of cut flowers and plants is not possible for an extended period of time, as these cut plants/flowers do not stay fresh due to their limited lifespan. Moreover, waste generated from the degradation of these plants causes waste disposal problems. Therefore, difficulty in maintaining the freshness of flowers and water, and problems associated with waste disposal is expected to hamper growth of the market during the forecast period.
The global floriculture market was valued at US$ 43.23 Bn in 2018, and is expected to register a CAGR of 5.7%, in terms of revenue over the forecast period (2019-2027), to reach US$ 70.85 Bn by 2027.
Figure 1. Global Floriculture Market Share (%), By Region, 2018
Source: Coherent Market Insights, 2018-19
Europe accounted for the largest revenue share of 40.3% in the global floriculture market in 2018, and is projected to continue its dominance during the forecast period. According to Eurostat, in 2015, the Netherlands had the highest land area, around 45.8 thousand hectares, covered with flowers, ornamental plants, and nursery plants, which further increased and reached 50.4 thousand hectares in 2016. This exhibits that demand for flowers and potted plants is expected to increase in Europe during the forecast period.
Moreover, North America floriculture market is expected to witness significant growth over the forecast period, owing to increasing demand for flowers in applications such as floral decoration at wedding and other events. For instance, according to data released by the U.S. Department of Agriculture (USDA), in December 2018, sales of floriculture item at all retail outlets was US$ 31.3 billion in 2015, whereas bedding plant production held the largest share accounting 44% in 2018 of the wholesale value of all the reported floriculture crop produced in the U.S.
Figure 2. Global Floriculture Market Share (%), By Application, 2018
Source: Coherent Market Insights, 2018-19
Based on application, global floriculture market is segregated into decoration and industrial applications, wherein decoration segment accounted for the largest revenue share and contributed 75.4% in 2018 in the global market. Fresh flower and plant decoration is often preferred over artificial flower decoration in weddings and other events/festivals such as thanksgiving, Diwali, and Christmas. Moreover, bulk purchase of fresh flowers and plants is offered with discounts and is therefore preferred over artificial flowers. This scenario is likely to contribute to growth of decoration segment in the near future as well.
Major players operating in the global floriculture market are 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.
Floriculture is a branch of horticulture and includes the cultivation of flowering plants, bedding plants, house plants, and ornamental plants for nurseries, gardens, and green houses. The term also includes the production of flowering plants through budding, cutting, grafting, and seeds. These plants are used as raw material for manufacturing cosmetics and personal care products such as facial creams and perfumes. Floriculture crops are also utilized in pharmaceutical industry in the production of medicines.
Floriculture trade has become important in many countries across the globe with almost 45 to 50 countries active in the production of flowers on a large scale. Thailand, U.S., China, Netherlands, and U.K. are the top countries in terms of the production value. India is one of the major countries interested to emerge as an important production base for floriculture output in the near future.
Based on application, floriculture market is bifurcated into decoration and industrial segments. In industrial segment, floriculture finds its application in cosmetics, perfumes, and pharmaceutical industry. In 2018, decoration segment held dominant position in the global floriculture market and contributed 75.4%, in terms of revenue.
Among regions, in 2018, Europe held dominant position in the global floriculture market and contributed revenue share of 40.3%. Factors such as increasing production of cut flowers plants and pot plants in the region is predicted to major driver for the growth of Europe floriculture market in the near future.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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*Browse 24 market data tables and 17 figures on "Floriculture Market - Global forecast to 2027”.
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