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Flower and Ornamental Plant Global Market Exhibit a Remarkable CAGR of 9.7% and is Expected to Reach $67.56 Billion By 2028 | Sakata Seed, Dümmen Orange, Florensis, Karuturi Global Ltd., Florexpo LLC.
Flower and Ornamental Plant Market
As per the report, the flower and ornamental plant market size has grown strongly in recent years. It will grow from $43.09 billion in 2023 to $46.68 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The flower and ornamental plant market size is expected to see strong growth in the next few years. It will grow to $67.56 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%.
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The Surging Demand For Indoor Plants And Flowers Transforms The Flower And Ornamental Plant Market
The rising demand for indoor plants and flowers in the residential sector is expected to propel the growth of the flower and ornamental plant market going forward. Indoor flowers and plants refer to plants that are grown indoors in places such as residences and offices. Ornamental plants can be grown indoors year-round as warm-weather plants. Indoor plants have many advantages, such as reducing stress and boosting creativity, productivity, and focus. These plants can be kept indoors as long as they get plenty of sunlight. For instance, in April 2023, according to the National Gardening Association, a US-based gardening association, the average household spent $616 on lawn and gardening activities in 2022, up $74 from 2021. Therefore, the rising demand for indoor plants and flowers in the residential sector is driving the growth of the flower and ornamental plant market.
Hybridization And Biotechnology Reshaping The Flower And Ornamental Plant Market
Hybridization and biotechnology are the key trends gaining popularity in the flower and ornamental plant market. Major companies operating in the flower and ornamental plant sector are focused on introducing ornamental plants produced by hybridization and biotechnology such as Pink Kisses and other varieties to sustain their position in the market. For instance, in July 2022, Somani Seeds, an India-based vegetable seed company, launched a new hybrid carrot variety, Red Queen. The red-queen carrot is an alternative to the Nantes carrot, an English cultivar that is less sweet and orange in color. The Nantes carrot also has a shorter shelf life.
The flower and ornamental plant market covered in this report is segmented -
1) By Type: Potted Plants, Cut Flowers
2) By Distribution Channel: Offline, Online
3) By End-Users: Commercial, Residential
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Major companies operating in the flower and ornamental plant market report are Syngenta Flowers, Selecta Klemm GmbH & Co. KG, Monrovia Nursery Co., Kurt Weiss Greenhouses Inc., Ball Horticultural Company, Suntory Flowers Ltd., Sakata Seed, Beekenkamp Group., Dümmen Orange, Florensis, Karuturi Global Ltd., Tagawa Greenhouses, Van Belle Nursery, KP Holland, Color Spot Nurseries, Oserian Development Company, Volmary GmbH, HilverdaFlorist, Ernst Benary Samenzucht GmbH, Florexpo LLC., Afriflora Sher Ethiopia, Butters Group, Chrysal International, Marginpar B.V., Arcangeli Giovanni and Figlio, Belaya Dacha Flowers, Fides Oro, Danziger ""Dan"" Flower Farm, Kapiteyn horticulture bv., Jetha Lachmandas Bhatia.
Contents of the report:
1. Executive Summary
2. Flower and Ornamental Plant Market Report Structure
3. Flower and Ornamental Plant Market Trends And Strategies
4. Flower and Ornamental Plant Market - Macro Economic Scenario
5. Flower and Ornamental Plant Market Size And Growth
…..
27. Flower and Ornamental Plant Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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