The global consumer floriculture market had a strong performance in 2020 and is expected to maintain steady growth throughout the forecast period. This growth is driven by factors such as the increasing demand for flowers due to urbanization, growing consumer awareness about environmental and social impact, and sustainability practices adopted throughout the floriculture value chain. The market customers' willingness to pay more for sustainably grown flowers is also contributing to the growth of the market. The cut flower segment is expected to be the largest revenue generator, and personal use is the leading application segment. The pandemic has had a negative impact on the industry, but opportunities still exist for major players and new entrants, such as increasing consumer demand for flowers as healthy food ingredients. Europe was the largest market in 2020 due to the growing economies in the region, while Asia Pacific is expected to register the fastest growth in CAGR over the forecast period. The major companies operating in the market are adopting various strategies such as forming strategic alliances and exploring new product lines to gain an edge over their competitors. This report provides historical data and revenue growth forecasts at a global, regional, and segmental level.
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Consumer Floriculture Market: Drive Factors
The consumer floriculture market is being driven by several factors such as increasing urbanization and the growing demand for flowers by consumers. The rising awareness among consumers about the environmental and social impact of floriculture product production and commerce is also leading to a growing demand for sustainably grown flowers. Consumers are buying flowers for various occasions, such as Valentine's Day, weddings, anniversaries, birthdays, and religious festivals. The market is also being driven by the willingness of customers to pay more for flowers that are grown sustainably. Companies are pursuing certifications and delivering fair trade, FPP, and other certified flowers to their customers to boost their market position. However, the growth of the consumer floriculture market is being restrained by the pandemic, which has led to a decline in demand for non-essential items, limited expenditure on beautifying reasons, and customers' lack of spending power.
Consumer Floriculture Market: Notable Innovation
The consumer floriculture market has witnessed notable innovation in recent years. One such innovation is the development of new varieties of flowers that are more resilient, have longer vase life, and offer new and unique colors and shapes. Additionally, there has been a growing trend towards sustainable and eco-friendly floriculture practices, such as using organic fertilizers and reducing the use of harmful pesticides. Other notable innovations include the use of technology in the production and distribution of flowers, such as automation and advanced packaging techniques. These innovations are aimed at improving the quality and variety of flowers available to consumers, as well as reducing the environmental impact of the floriculture industry.
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