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Cut Flowers Market Size, Growth, Trends And Forecast 2024-2033
Cut Flowers Market Size
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According to The Business Research Company's, The cut flowers market size has grown strongly in recent years. It will grow from $33.83 billion in 2023 to $35.73 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to cultural and social traditions, floral gifting practices, globalization and supply chain development, expansion of floriculture industry, rise of e-commerce platforms.
The cut flowers market size is expected to see strong growth in the next few years. It will grow to $43.97 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to rising demand for sustainable and local products, evolving consumer preferences for online purchases, customization and personalization, health and wellness, partnerships with florists and retailers. Major trends in the forecast period include technological advancements in cultivation, innovations in flower varieties and genetics, rise in online flower purchases, popularity of locally grown flowers, increased focus on flower longevity.
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Market Drivers and Trends:
The rising demand for cut flowers for decorative purposes is expected to propel the growth of the cut flowers market going forward. Cut flowers for decorative purposes refer to flowers that are grown specifically to be cut and used in various decorative applications, such as floral arrangements, bouquets, and centerpieces. As more consumers purchase cut flowers for decorative purposes for floral arrangements, bouquets, and centerpieces, the demand for cut flowers is increasing which will boost the market. For instance, in January 2022, according to the report published by the International Association of Horticultural Producers (AIPH), a UK-based trade association dedicated to promoting horticultural producers, the global cut flower industry experienced an overall growth of 40% between 2015 and 2020. Therefore, the rising demand for cut flowers for decorative purposes will increase the demand for the cut flowers.
Major companies in the cut flowers market are focused on developing innovative florals, such as genetically modified flowers, to gain a competitive edge in the market. A genetically modified flower is a plant whose genetic material has been altered using genetic engineering techniques to introduce desired traits or characteristics. For instance, in August 2023, Suntory Flowers, a US-based developer of creative flowers, launched the BluOcean Chrysanthemum, a genetically modified flower with violets and blues, developed in collaboration with the National Agriculture and Food Research Organization in Japan. With enhanced color traits, including violets, blues, and lavenders, the BluOcean Chrysanthemum is tailored for professional florists aiming to elevate floral arrangements.
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Major Key Players of the Market:
Syngenta Flowers, Flower Auction Aalsmeer, Flamingo Horticulture Holdings Limited, Sher Holland BV, Selecta One Group, MultiFlora Ltd., Dümmen Orange Holding B.V., Red Lands Roses Ltd., Washington Bulb Company Incorporated, Soex Flora Group B.V., David Austin Roses Limited, Royal Van Zanten, Dos Gringos LLC, Esmeralda Farms Inc., Oserian Development Company Limited, The Queen's Flowers SAS, Selecta Cut Flowers SAU, Kariki Limited, Karen Roses Ltd., Florius Flowers, James Finlay & Co., Marginpar B.V., Rosebud Holdings Limited, Afriflora Sher Ethiopia plc, Florance Flora LLP, Beekenkamp Group, Karuturi Global Limited, Kwekerij De Ruiter, Ambuja Flower Farm
Cut Flowers Market 2024 Key Insights:
• The cut flowers market size is expected to see strong growth in the next few years. It will grow to $43.97 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%.
• Growing Demand For Decorative Floral Arrangements Drives Surge In Cut Flowers Market
• Innovative Floral To Gain A Competitive Edge In The Market
• Europe was the largest region in the cut flowers market in 2023
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