Global Floriculture Market was valued at US$ 54.2 Bn in 2022, according to the Global Floriculture Market Report, by Product Type (Cut Flowers, Pot Plants, Cut Foliage, Bedding Plants, and Others), by Application (Decoration and Industrial), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
Global floriculture market was valued at US$ 54.2 Bn in 2022. Floriculture Market is expected to register a CAGR of 7.66 % over the forecast period (2023–2030), to reach US$ 97.8 Bn by 2030.
To know the latest trends and insights prevalent in this market, click the link below:
http://www.coherentmarketresearch.in/market-insight/floriculture-market-1586
Key Trends and Analysis of the Global Floriculture Market:
- Increasing preference for beauty and personal care products and cosmetics in the recent past is a result of rising consumer awareness regarding personal grooming, which in turn is expected to increase the demand for perfumes. For instance, according to the International Trade Administration (ITA), U.S. Department of Commerce, beauty and personal care (BPC) industry in India was valued at US$ 8 billion in 2016 and is expected to record a CAGR of about 6.0% during 2016 to 2021. Therefore, demand for cut flowers is expected to increase during the forecast period, owing to increasing manufacturing of perfumes and fragrances.
- However, increasing usage of harmful chemicals for the cultivation of flowers and their harmful impact on environment is expected to hinder growth of global floriculture market over forecast period. Moreover, the water seeping inside the ground affects the ground water table by polluting it. This polluted water is therefore no longer useful unless it is processed and disposing this polluted water becomes a challenge for the farmers.
Key Takeaways of the Global Floriculture Market:
- On the basis of product type, bedding plants segment contributed for over 28.7% of the revenue share in the global floriculture market in 2021. Bedding plants are used in gardens or in the form of hanging plants to decorate the outdoors. According to the ‘Floriculture Crops 2020 Summary’ published in May 2021 by USDA, National Agricultural Statistics Service, which increased by 17% from 2030. In 2021, bedding and garden plant category held the largest share of 47% of the wholesale value of all the reported crops in the U.S.
- Based on regional segregation, Europe accounted for the largest revenue share in the global floriculture market in 2021, whereas, Asia Pacific is expected to record fastest growth during the forecast period. Major use of cut flowers in Asia Pacific, especially in Southeast Asia is due to large number of worship places in the region. Cut flowers are used as a major ingredient in cosmetics especially perfumery.
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.
