Cut Flower Market Revenues to Reach USD 52.0 billion by 2031 | Transparency Market Research Inc.
Expanding product offerings beyond traditional cut flowers, such as potted plants, dried flowers, or flower related merchandise, can cater to a broader customer base and provide additional revenue streams.
Wilmington, Delaware, United States, Nov. 20, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. The global cut flower market was estimated to have acquired US$ 30.9 billion in 2022. It is anticipated to register a 6.0% CAGR from 2023 to 2031 and by 2031, the market is likely to gain US$ 52.0 billion.
Continued research and development in breeding hybrid flower varieties with desirable characteristics, such as longer vase life or unique colors, can create a competitive edge for flower producers.
Given the sensitivity of flower cultivation to weather conditions, investments in technologies and practices that enhance resilience to climate variability and extreme weather events are essential.
Understanding and catering to cultural preferences for specific flowers or colors can be crucial. Aligning product offerings with seasonal trends and holidays can also boost sales during peak periods. Regions known for their flower cultivation can leverage flower tourism. Creating experiences such as flower festivals and farm tours can attract visitors, contributing to local economies and the cut flower market.
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Global Cut Flower Market: Key Players
The following companies are well known participants in the global cut flower market:
- Ball Horticultural Company
- Carzan Flowers K Ltd.
- Karen Roses
- Karuturi Global Limited
- Oserian Development Company Limited
- Rosebud Ltd.
- Syngenta Flowers Inc.
- The Kariki Group
- The Queen’s Flowers
- Washington Bulb Co., Inc.
Key Findings of Market Report
- The demand for cut flowers in wedding and event decorations continues to be a significant driver. Floral arrangements play a crucial role in enhancing the aesthetics of ceremonies and events.
- The globalization of the flower supply chain enables consumers to access a wide variety of flowers from different regions. The diversity in the availability of flowers can stimulate market growth.
- Consumer preferences for exotic and unique flower varieties have been on the rise. The introduction of novel and less common flower species can open up niche markets and attract a specific customer base.
- Growing environmental awareness has led to a demand for sustainable practices in the floral industry. The development and use of biodegradable floral foam packaging materials present opportunities for businesses to align with sustainability trends.
Trends For Cut Flower Market
- Cut flowers are often associated with gifting for various occasions such as birthdays, anniversaries, weddings, and holidays. The cultural significance of flowers as gifts contributes to sustained demand.
- Advances in agricultural practices, such as greenhouse cultivation and precision farming techniques, can improve the quality and yield of cut flowers, which not only enhances the availability of flowers but also contributes to cost effectiveness.
- Innovations in floral design, packaging, and presentation can influence consumer choices. Unique and creative arrangements, as well as sustainable packaging solutions, can set businesses apart in the market.
- Social media platforms play a significant role in promoting floral trends and designs. Florists and flower businesses leveraging social media for marketing and showcasing their products can capitalize on this trend.
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Global Market for Cut Flower: Regional Outlook
Various reasons are propelling the growth of the cut flower market in different regions. The regions include,
- Increasing disposable income in many countries across Asia Pacific has led to a higher demand for luxury and non essential goods, including cut flowers. People are likely to spend on decorative items such as flowers, as they have more discretionary income.
- Many countries in Asia Pacific have a deep cultural appreciation for flowers, and they play a significant role in various ceremonies, festivals, and religious practices. The cultural significance contributes to a consistent demand for cut flowers.
South America is home to a diverse range of flowers, some of which are unique to the region. The rich biodiversity contributes to a wide variety of cut flowers available for cultivation and sale, attracting both domestic and international markets.
Some South American countries have been investing in the development of the floriculture sector, including improved cultivation techniques, infrastructure, and research. The investments can enhance the overall production and quality of cut flowers.
In 2022, Selecta One and Moraglia Breeding formally announced a robust strategic alliance, enhancing their collective logistics capabilities and expertise. The partnership brings strengthened strategies, supply chain management, and team coordination to the forefront, reinforcing their commitment to advancing together in the cut flower industry.
Global Cut Flower Market Segmentation
- Bird of Paradise
- Others (Iris, Gladiolus, etc.)
- Mass Pricing
- Premium Pricing
- Personal Use
- Parties & Special Days
- Wedding & Mega Cultural Events
- Welcoming & Greeting
- Conference & Activities
- Others (Rituals, Festival, etc.)
- Distribution Channel
- Direct Sales
- Retail Stores
- Floriculture Stores
- Specialty Stores
- Others (Nursery, Individual Supplies, etc.)
- North America
- South America
- Asia Pacific
- Middle East & Africa
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