Floriculture market 2023-2027: A descriptive analysis of five forces model, market dynamics, and segmentation

NEW YORK, Jan. 27, 2023 /PRNewswire/ — According to Technavio, the global floriculture market size is estimated to grow by USD 44.88 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 8.6% during the forecast period. Europe will account for 29% of the market’s growth during the forecast period.

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Global floriculture market – Five forces
The global floriculture market is fragmented, and the five forces analysis covers–

• Bargaining Power of Buyers

• The threat of New Entrants

• Threat of Rivalry

• Bargaining Power of Suppliers

• Threat of Substitutes

• Interpretation of porter’s five models helps to strategize the business, for entire details – buy the report!

Global floriculture market – Customer landscape 

The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global floriculture market – Segmentation assessment

Segment overview
Technavio has segmented the market based on application (conferences and activities, gifts, and personal and corporate use), product (cut flowers, bedding plants, potted plants, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa).

• The conferences and activities segment will grow at the highest rate during the forecast period. These include one-time or recurring expenditures in a corporate environment, including seminars and conferences, as well as rituals like weddings and funerals. Wedding activities across the world fuel the segment, as people use a variety of flowers for wedding arrangements and decorations.

Geography overview
By geography, the global floriculture market is segmented into APAC, Europe, North America, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global floriculture market.

Story continues

• Europe will account for 29% of the market’s growth during the forecast period. Flowers are used for traditional and cultural purposes in APAC. The region has experienced rapid industrialization, which has increased the number of companies in the market. This leads to an increase in the use of flowers in business events, regular floral installations across corporate buildings, and recreational activities.  The top producers and contributors to the expansion of the market in the area are China, Japan, and India.

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Global floriculture market – Market dynamics

Key factor driving market growth

• The growing prominence of online shopping is notably driving market growth.

• Due to the widespread use of smartphones, there has been a considerable rise in the number of e-commerce vendors worldwide.

• E-commerce platforms provide users with personalized shopping assistance and advice on various flower and gift combinations depending on factors like the type and color of flowers they want and the kind of gift they want to send.

• Moreover, factors like high profits associated with growing ornamental plants and the growing use of flowers and plants for decorative/aesthetic purposes will drive market growth during the forecast period.

Leading trends influencing the market 

• The increasing use of biotechnology in floriculture is an emerging trend in the market.

• In floriculture, biotechnology is being used to change the flower’s color from its natural occurring color. This might lead to a rise in demand for flowers with unusual colors, like blue roses. Additionally, it can assist flowers in enduring inclement weather, lowering the dangers for farmers.

• Furthermore, factors like expanding distribution channels in business-to-business (B2B) and business-to-consumer (B2C) spaces and growing demand for premium flowers will drive market growth during the forecast period.

Major challenges hindering market growth

• The over-dependence on climatic conditions is a major challenge impeding market growth.

• The healthy growth of several types of ornamental plants may be hampered by shorter, wetter days and a lack of sunlight. Many nurseries and farmers need to use artificial lighting and temperature controls to give plants the optimum growing environment.

• Furthermore, the country’s restricted availability of freshwater and drought-like circumstances threaten flower production.

• Additionally, the use of toxic chemicals, stiff competition in pricing, and low product differentiation will further hinder market growth.

Driver, Trend & Challenges are the factor of market dynamics which states about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this floriculture market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the floriculture market between 2023 and 2027

• Precise estimation of the size of the floriculture market and its contribution the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the floriculture market across APAC, Europe, North America, South America, and Middle East and Africa

• A thorough analysis of the market’s competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of floriculture market vendors

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Product

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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