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Floriculture Market | Top Trends and Key Players Analysis Report by TMR
The global floriculture market is expected to rise steadily in the years ahead. At present, advancement in plant biotechnology, which includes genome sequencing is a key factor propelling the global floriculture market. The adoption of newer techniques has resulted in increased crop yield and the development of genetically modified flowering plants.The global floriculture market could be studied on the basis of product type and region. The report provides a brilliant analysis of the global floriculture market with a focus on market dynamics, segmentation, and competition. The analysis provided in this report can be useful for market stakeholders to formulate winning growth strategies.
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Global Floriculture Market: Key Trends
First and foremost, the proliferating demand for flowers for decoration for various occasions is a key factor the floriculture market. Worldwide, flowers are used at the personal and professional front for decoration, aesthetics, and to exchange greetings. Flowers are associated with prosperity and well-being, thereby benefitting the floriculture market.
The adoption of newer technologies and more precise management in commercial floriculture has led to higher crop yield. The use of modern farm practices has also led to increased profitability for farmers engaged in floriculture. So much so, the profit of floriculture products per unit area is higher over other agriculture products. This is luring farmers to switch to floriculture.
Furthermore, the rising popularity of Ayurveda and other native therapies is stoking the demand for floriculture products. Flowers such as rose, jasmine, and tube rose are used in the manufacture of essential oils and other Ayurvedic formulations.
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Global Floriculture Market: Geographical Analysis
The global floriculture market could be spread across North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Asia Pacific is projected to display stellar growth over the forecast period. India is emerging as a key producer of flowering plants. Owing to rise in demand for flowers, floriculture in emerging as a profitable occupation in the country. As per statistics of the Agriculture & Processed Food Products Export Development Authority, in 2014-2015, around 248.51 thousand hectare area was under cultivation for floriculture. The production estimated was 472 thousand tons cut flowers and 1658 thousand loose flowers during the period.
Furthermore, a shift in production techniques is serving to boost the Indian floriculture industry. Floriculturists are increasingly shifting from traditional flowers to cut flowers to serve overseas markets. For example, as per the Ministry of Agriculture & Farmers Welfare, in 2015- 2016, India produced 0.69 million metric tons of cut flowers. Germany, United Arab Emirates, the U.S., and the U.K. are key importers of Indian floriculture products.
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Global Floriculture Market: Competitive Analysis
Key companies operating in the global floriculture market include The Kariki Group, Syngenta Flowers Inc., Oserian Development Company Limited, Carzan Flowers K Ltd., Multiflora Ltd., Dumman Orange, Karuturi Global Limited, Selecta Klemm Gmbh & Co. KG, Ruparelia Group, and Karen Roses. Key players in the market are focused on new product launches and are also considering strategic collaborations to garner a larger market share.
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