FLORICULTURE MARKET ANALYSIS

Floriculture MarketSize and Trends

Global floriculture market was valued at US$ 54.2 Bn in 2022 in terms of revenue, exhibiting a CAGR of 7.66 % during the forecast period (2023 to 2030).

Market Trends

Floriculture is the cultivation of beautiful and blooming plants in the floriculture nursery for a variety of purposes, including as a raw resource in the cosmetic and pharmaceutical industries, as well as for personal use.

The global floriculture industry is now being driven by advancements in plant biotechnology, which include genome sequencing. Increased agricultural productivity and emergence of genetically modified flowering plants have come from the deployment of modern techniques.

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, improve skin and hair health, and enhance heart functioning.

Growing acceptance of flowers as a healthy food ingredient creates new opportunities for producers in the advanced floriculture market to expand their businesses. Consumers demand sustainably produced flowers, attributable to increasing awareness regarding the environmental and social impact of the production and trade of floriculture products worldwide. Thus, all participants in the floriculture value chain aim to adopt sustainable agricultural practices such as integrating pest management and conservation agriculture to reduce the negative impact of their activities on the environment.

The increasing use of biotechnology in floriculture is another factor supporting the floriculture market growth in the forecast period.

Biotechnology is being used in floriculture to change the color of flowers from their natural colors. This may increase demand for flowers with unusual colors, such as blue roses. Biotechnology can also assist flowers in surviving in harsh climatic conditions, lowering risks for growers. Monsanto, for example, is developing anti-aging technology for flowers. This technology can help flowers last longer by preventing them from wilting. Flowers with a shorter life expectancy are shipped by air cargo freight from the country of origin to the customer in another country. For such reasons, the use of biotechnology to prevent flowers from wilting can reduce the dependence of exporters on air freight, which is expensive, and instead allow flowers to be transported using a cheaper mode of transport like seaways.