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Korea Floriculture Market to Grow at a Robust 7.4% CAGR, Reaching USD 647.4 Million by 2033 | FMI

Floriculture Industry Analysis in Korea

Floriculture Industry Analysis in Korea

The Korea floriculture market, which was valued at USD 317.8 million in 2023, is projected to reach a substantial USD 647.4 million by 2033, driven by an impressive forecasted compound annual growth rate (CAGR) of 7.4% over the next decade. This positive growth trajectory underscores the burgeoning demand for flowers and ornamental plants in South Korea, spurred by an evolving consumer landscape and increasing interest in horticulture.

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Flourishing Demand for Flowers and Ornamental Plants

In 2023, South Korea's floriculture market experienced substantial market value, reflecting the nation's growing appreciation for plants and flowers in both residential and commercial spaces. As more consumers prioritize aesthetics, sustainability, and well-being, the demand for high-quality flowers, exotic plants, and eco-friendly gardening solutions has surged. This trend is further amplified by the increasing number of floral enthusiasts and the rising popularity of gardening as a hobby.

Market analysts predict that this demand will continue to escalate, with South Korea's floriculture market poised to double its size by 2033. From local flower markets to upscale floral boutiques, the demand for premium flowers and ornamental plants is projected to expand rapidly, especially in urban areas where greenery and floral arrangements enhance both public spaces and private homes.

Technological Advancements and Sustainability Driving Growth

The Korea floriculture market's robust growth is also attributed to technological innovations in plant cultivation and the growing emphasis on sustainability. Advances in plant breeding, greenhouse technologies, and automated flower production methods have enhanced the quality and availability of flowers. Moreover, South Korean consumers are becoming increasingly eco-conscious, leading to a rise in demand for sustainably grown flowers, organic fertilizers, and environmentally friendly gardening solutions.

Floriculture businesses are embracing these trends by adopting cutting-edge technologies and practices that improve operational efficiency while ensuring environmental responsibility. The use of smart farming techniques and innovative greenhouse designs is also expected to contribute significantly to the market's growth during the forecast period.

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Rising Popularity of Floriculture in Gifting and Special Occasions

Floral arrangements have long been integral to South Korean culture, playing a key role in celebrations, festivals, and important life events. The tradition of gifting flowers during holidays, weddings, anniversaries, and other special occasions has only grown stronger in recent years, providing a steady demand for floriculture products. As social gatherings and events continue to thrive post-pandemic, floriculture businesses are well-positioned to capitalize on this demand for floral gifts, decorations, and event-based floral services.

In addition to the gifting market, flowers and ornamental plants are also becoming increasingly popular as interior design elements. With a heightened awareness of the psychological benefits of plants, consumers are incorporating flowers and greenery into their home and office spaces, further boosting the market's growth potential.

Some of the Important Players in Korea Dealing with Floriculture

• LG Electronics
• Samsung C&T Corporation
• Dümmen Orange
• Dongbu Farm Hannong
• Daejin
• Hyundai Green Food
• Korea Seed & Service
• Shinhan Greenhouses
• NongWoo Bio
• Taewoong Agricultural
• CNH Korea
• Kisung Industry
• Woojin Greenhouse
• Daehan Greenhouse
• Hwaseung F&B

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Key Segments

By Product Type:

• Cut Flowers
• Cut Foliage
• Plants
• Propagation Material

By Flower Type:

• Rose
• Chrysanthemum
• Tulip
• Lily
• Gerbera
• Carnations
• Texas Blueball
• Freesia
• Hydrangea
• Others

By End Use:

• Personal Use
• Institutions/Events
• Hotels, Resorts, & Spas
• Industrial

By Sales Channel:

• Direct Sales
• Specialty Stores
• Franchises
• Florists & Kiosks
• Supermarkets/Hypermarkets
• Independent Small Stores
• Online Retailers
• Other Sales Channel

By Provinces:

• South Gyeongsang
• North Jeolla
• South Jeolla
• Jeju

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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