Artificial Plants Market Outlook, Demand, Revenue, and Forecast to 2030
Market Scope
The artificial plants market size shall touch close to USD 0.93 billion by the end of 2030, expects MRFR (Market Research Future). MRFR anticipates the market share to burgeon at a rate of 4.15% between 2023 and 2030.
Top Drivers
Artificial plants are commonly deployed in the commercial sector, as interior decoration components that need no to low maintenance. This has considerably fostered the sales of artificial plants over the years. On top of this, the burgeoning population of millennials that desire a more aesthetic look for their homes and work on replicating exotic rare plants favors the worldwide artificial plants market.
A massive population worldwide are prone to a number of allergies caused by real plants. This prompts the consumers to opt for artificial plants, which are now considered to be an apt substitute for real plants. Artificial plants are highly durable, which is certainly not possible with natural plants, which is yet another factor that enhances the formers’ appeal among consumers.
Market Restraints:
The loyal consumer base for real flowers and plants, given their health as well as environmental advantages, can prove to be a huge deterrent for the artificial plants market growth in the future.
Market Segmentation
Product type, along with material type, end-user, as well as distribution channel are the top segments listed in the extensive MRFR study.
Product type-based segments are Stem Flowers, Whole Plants & Trees, Wood & Branches, Grass, and more. The whole plants & trees segment heads the worldwide market, since these product types enhance the physical appeal of the entire location, without the need for extra maintenance.
Material types include Silk, Plastic, Rubber, Paper, and more. The plastic material enjoys the highest demand since these types are widely available, more affordable, and elevate the aesthetic appeal of the area.
Top end-users are commercial coupled with residential. Residential is the top end-user in the industry, wherein homes capturing the highest share.
Distribution channels can be Store-Based (Specialty Stores, Convenience Stores, and Supermarkets & Hypermarkets) along with Non-Store-Based.
Competitive Dashboard
The leading key artificial plants market players in the MRFR study are The Green House (India), Treelocate Ltd. (UK), Sharetrade Artificial Plant and Tree Co. Ltd. (China), International Plantworks (US), Nearly Natural (US), J. S. Flower Company Limited (Thailand), Commercial Silk Int'l & Plantscape Inc (US), China Silk Flower Factory (China), GreenTurf (Singapore), International TreeScapes, LLC (US) and more.
Most of the firms work on bolstering their local and global presence, for which they introduce newer and more sophisticated products. The primary strategical measures undertaken by these players include agreements, partnerships, and collaborations.
To illustrate, SYNLawn, the biggest developer of artificial grass in the North American market, will be debuting its exclusive EnviroLoc+ Backing System. This soy-based backing technology contains an impressive anti-algae and anti-fungal component, which helps foster the lifespan of the artificial grass.
Regional Status
North America, with the United States in the lead, houses the top artificial plants market, thanks to the surging use in several occasions, festivals and functions. Huge popularity of Quinceanera, proms, and weddings raises the demand for artificial grass, flowers as well as plants. The demand is significantly high not only in the United States but also in Mexico, and Canada. Artificial plants developed and sold in the region are quite similar to real plants, which is because of the extensive use of modern manufacturing technologies. This factor helps gain interest of more consumers in the region, resulting in substantial business growth.
Asia Pacific happens to be soaring at a fast pace, given the booming population in China as well as India, which ultimately gives rise to the number of occasions and festivals each year. More and more international and local brands are presented with opportunities by the region, where different festivities are prevalent in line with diversity. Infrastructural development and the surge of smart cities across various South Asian nations widens the application potential of the artificial plants.
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