Floriculture Market, By Product Type (Bedding Plants, Pot Plants, Cut Flowers, Cut Foliage, and Others), and By Application (Decoration, Cosmetics, Perfumes, Pharmaceutical, and Others) - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Jul 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Floriculture is a branch of horticulture, which includes the cultivation of ornamental plants and flowering plants for gardens, nurseries, and greenhouses. It also include production of flowering plants through seeds, budding, cutting, and grafting. The crops in floriculture market majorly comprises herbaceous plants, which have no persistent woody stem above the ground. Floriculture crop products are used as raw materials in manufacturing of cosmetics, perfumes, and are also used in the pharmaceutical industry. Furthermore, according to the International Trade Center (ITC), the global export of floriculture products has increase exponentially over the last few years. In emerging economies including India and China among others, the global export was recorded at US$ 4.00 billion in 2012, which was 24% higher as compared to the exports in 2010, according to ITC.

Market Dynamics

Major factors propelling growth of the global floriculture market include steadily developing plant biotechnology including genome sequencing, which results in increased yield and development of genetically modified flowering plants. For instance, Suntroy Flowers Ltd., a company based in Japan, developed the world’s first blue rose with 100% blue-pigmented petals. The company started selling its blue rose, under the brand name Applause, throughout Japan in 2011.

Furthermore, owing to adoption of novel technologies and more precise management in commercial floriculture, profit of floriculture products per unit area is higher as compared to other agriculture products. Thereby, the higher profitability, is considered as another factor, leading to growth of the global floriculture market. Moreover, growing demand for essential oil of rose, tube rose, and jasmine among others, is propelling the market growth. For instance, according to Coherent Market Insights’ analysis, the global consumption of essential oils is anticipated to grow from US$ 8.29 billion in 2016 to US$ 15.01 billion in 2025.

Market Outlook

  • Asia Pacific is projected to record a significant growth in the global floriculture market during the forecast period. This is attributed to presence of largest flower producing countries such as India and China in the region. Owing to growing demand for flowers, floriculture in India is emerging as an important commercial trade in agriculture. According to the Agriculture & Processed Food Products Export Development Authority (APEDA), in India, around 248.51 thousand hectares area was reported as under cultivation in floriculture during 2014-2015 and the production of flowers was estimated to be 472 thousand tons cut flowers and 1,658 thousand tons loose flowers during 2014-2015 in India. Furthermore, Indian floriculture industry is shifting from traditional flowers to cut flowers, in order to support growth of their export business. For instance, according to the Ministry of Agriculture & Farmers Welfare, India had produced 0.69 million metric tons of cut flowers during 2015-2016 and according to the APEDA, during 2016-2017, countries including Germany, the U.S., the U.K., and United Arab Emirates were major importers of the Indian floriculture.
  • In Europe, Netherlands is the largest producer and exporter of the floriculture products. According to the data provided by the USDA Foreign Agricultural Service in 2016, Netherland was reported as the dominant exporter of the floriculture products including cut flowers and bulbs, and in 2015, the total export of the country for floriculture products was reported as over 9 billion, out of which, 1 billion corresponds to bulbs only, according to USDA. Tulip dominated the bulbs export of Netherlands in 2015, among hyacinth, narcissi, and gladioli bulbs. Furthermore, growing demand for cut flowers and higher imports in Germany and other European Union countries such as France, is driving the growth of floriculture market in the region. For instance, according to the European Union, the total imports of cut flowers and cut foliage in EU was reported as 294.24 Kilo tons in 2013. Moreover, cut flowers and cut foliage segment dominated the total imports of floriculture products in EU with 78.3% in 2014, among potted plants (15.6%) and bulbs and corms (4%), according to the European Union.

Key Players and Business Strategies

Major players operating in the global floriculture market include The Kariki Group, Dummen Orange, Syngenta Flowers. Inc., Karuturi Global Limited, Oserian Development Company Limited, Selecta Klemm GmbH & Co. KG, Carzan Flowers K Ltd., Ruparelia Group, Multiflora Ltd., and Karen Roses. Mergers and acquisitions, strategic collaborations, and new product launches are the key strategies adopted by these players, in order to retain their market share. For instance, in 2017, Syngenta Flowers. Inc. had launched two new flower series including Sunfinity Sunflower and Obsession Cascade Verbena. The sunflower from Syngenta, under the brand name Sunfinity, offers multiple branches and more flowers with an average of 50 blooms per plant in all season.

Market Taxonomy

 Based on the product type, the floriculture market is segmented into:

  • Cut Flowers
  • Pod Plants
  • Cut foliage
  • Bedding Plants
  • Others (Bulbs and corms)

Based on the application, the floriculture market is segmented into:

  • Decoration
  • Cosmetics
  • Perfumes
  • Pharmaceuticals
  • Others

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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