Cut Flowers Market Analysis by Size, Share, Growth, Trends up to 2028

The cut flowers market size is projected to grow from US$ 36,835.42 million in 2022 to US$ 53,369.13 million by 2030; the market is expected to grow at a CAGR of 4.7% from 2022 to 2030.

Based on distribution channel, the cut flowers market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The online retail segment is projected to register the highest CAGR from 2022 to 2030. Online retail platforms provide a convenient and accessible shopping experience. Customers can browse various varieties of cut flowers from their homes without visiting physical stores. Additionally, online retailers often offer an incredible range of products, allowing customers to choose desired products by browsing different varieties of cut flowers, colors, and shapes as per their preferences. Moreover, online platforms display detailed product descriptions, customer reviews, and images, which assist shoppers in making informed decisions.

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The cut flowers market is segmented into five main regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Europe held the largest share of the market in 2022 followed by North America. In North America, In North America, many domestic and international players such as Washington Bulb Co., Inc.; Oserian; and Dümmen Orange operate in the cut flowers market. These companies are constantly working toward improving the characteristics and qualities of cut flowers to attract new consumers and widen their consumer base. The major demand for cut flowers is generated on days such as Valentine's Day, Mother's Day, Christmas, and Easter, as people use flowers as gifts to express love and celebrate these special occasions. According to the Society of American Florists, on Mother's Day, in 2022 flowers accounted for a 26% share of total spending on flowers at shops in the US. The wedding and event industry also drives the demand for cut flowers. Couples and event planners use cut flowers in decorations, bouquets, and centerpieces. According to the Knot Real Wedding Study, the average amount invested in wedding flowers was US$ 2,400 in 2022.

Market growth in Europe is ascribed to the presence of well-established players such as Afriflora Sher, Oserian, and Dümmen Orange in this region. Small and medium enterprises in the cut flowers market in Europe benefit from a well-developed virtualized freight and logistics network as well as a well-coordinated supply chain, comprising growers, traders, logistics service providers, and gift shop outlets. Virtual networks ensure cost-effective and speedy deliveries of floriculture products, including cut flowers, which favors the cut flowers market in this region.

Impact of COVID-19 Pandemic on Cut Flowers Market

The COVID-19 pandemic affected economies and industries in various countries. Lockdowns, travel bans, and business shutdowns in leading countries in North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa negatively affected the growth of various industries, including the consumer goods industries. The shutdown of manufacturing units disturbed global supply chains, manufacturing activities, delivery schedules, and sales of various essential and nonessential products. Various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020. In addition, the bans imposed by various governments in Europe, Asia Pacific, and North America on international travel forced the companies to put their collaboration and partnership plans on hold. All these factors hampered the consumer goods industry in 2020 and early 2021, restraining the cut flower market growth.

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The report segments the cut flowers market as follows:

Based on flower type cut flowers market is segmented into rose; carnation; lilium; chrysanthemum and gerbera; and others. Based on application, the market is bifurcated into home and commercial. Based on distribution channel, the cut flowers market is segmented into supermarkets and hypermarkets, specialty stores/florists, online retail, and others. The cut flowers market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America)

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This release was published on openPR.