Yahoo Finance Floriculture Market is expected to surge to a valuation of around US$ 80.5 Billion by 2029 - Comprehensive Research Report by FMI
Floriculture Market - Analysis, Outlook, Growth, Trends, Forecasts
DUBAI, United Arab Emirates, Jan. 24, 2022 (GLOBE NEWSWIRE) -- The global Floriculture Market is close to being valued at US$ 49.8 Bn in 2022, and is expected to surge to a valuation of around US$ 80.5 Bn by 2029, rising at a CAGR of around 6.7% over the 2022 to 2029 assessment period.
Floriculture Market revenues are set to reach US$ 49.2 Bn by 2022 end, further progressing at a robust CAGR through 2029. Majorly contributed by cut flowers, the market for floriculture will particularly thrive on the back of booming popularity of edible flowers that has been observed over the recent past.
Floriculture Market Size (2022) | US$ 49.8 Bn | |
Sales Forecast (2029) | US$ 80.5 Bn | |
Global Market Growth Rate (2022 to 2029) | 6.7% CAGR | |
Share of Top 5 Floriculture Product Suppliers | 45% | |
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Edible flowers such as citrus blossoms, hibiscus, lavender, roses, and nasturtium are gaining popularity among a select chunk of health conscious consumers. These flowers are rich in Vitamin C and antioxidants, which helps in reducing cholesterol levels, improves skin and hair health, and enhances heart functioning. Growing acceptance of flowers as a healthy food ingredient creates new opportunities for producers in the global floriculture market to expand their businesses.
Marco Ravera, a producer in Italy that cultivates aromatic plants, plans to expand its floriculture business footprint by adding edible flowers to its product portfolio. Currently, it has allocated around 15% of its organic farm for production of edible flowers.
Key Takeaways - Global Floriculture Market Study
Europe is expected to retain its dominant position in the global floriculture market, attributed to increasing adoption of gardening activities in the region.
Among product type, the cut flowers segment is considered a key contributor to growth of the global floriculture market, due to high consumption of fresh roses in decorations such as bouquets at events, vase arrangements, and as gifts on special occasions.
The cut foliage segment is expected to witness a significant CAGR in the global floriculture market, owing to increasing use of mix bouquets in flower arrangements at events and festivals.
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Scope of the Report
Attribute | Details |
Forecast Period | 2022-2029 |
Historical Data Available for | 2014-2021 |
Market Analysis | Value in US$ Mn |
Key Regions Covered | • North America |
Key Countries Covered | • U.S. |
Key Market Segments Covered | • Product |
Key Companies Profiled | • Forest Produce Ltd. |
Rising Environmental and Social Responsibility to Shape Market Trends
Consumers demand sustainably produced flowers, attributable to increasing consumer awareness regarding environmental and social impact of production and trade of floriculture products worldwide. Thus, all participants in the floriculture value chain aim adopt sustainable agricultural practices such as integrating pest management and conservation agriculture to reduce negative impact of their activities on the environment.
Consumers in the market are also willing to pay more for sustainably grown flowers. Thus, companies aim to obtain certifications and are offering fair trade, FPP, and other certified flowers to their consumers in order to improve their market position.
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Floriculture Market: Competitive Landscape
Prominent players in the global floriculture market are Tropiflora Ltd., Forest Produce Ltd., Selecta Cut Flowers S.A.U., Native Floral Group, Tropical Foliage Plants, Inc., Oserian Group, Esmeralda Farms, Marginpar BV, DOS GRINGOS, LLC, Flamingo Horticulture Ltd., Danziger Group, Florensis Flower Seeds UK Ltd., Verbeek Export B.V., Florance Flora, Karuturi Global Ltd., and others.
Players in the floriculture industry are focusing on Asia for production and sales of commercial floriculture products, owing to significant rise in demand for low cost flowers in this region. Companies are also entering various strategic partnerships with domestic players to expand their market footprint.
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