Floriculture Market to Flourish due to Advancements in Greenhouse Technologies
The floriculture market comprises cut flowers, flowering potted plants and foliage that are used for decoration purposes. Cut flowers include roses, chrysanthemums, lilies, orchids and gerberas which are mostly consumed as bouquets or individual stems. Potted plants include poinsettias, kalanchoes, cyclamens and hydrangeas that add aesthetic beauty to indoor and outdoor spaces. Foliage such as ferns, palms and ivy leaves are also used in floral arrangements. These ornamental products are distributed through various channels such as retail, food services and commercial segments.
Global floriculture market was valued at US$ 54.2 Bn in 2022 in terms of revenue, exhibiting a CAGR of 7.66 % during the forecast period (2023 to 2030).
Key Takeaways
Key players operating in the floriculture market are Dümmen Orange, Syngenta Flowers, Finlays, Beekenkamp, and Karuturi Global Ltd.
The increasing Floriculture Market Demand for exotic flowers especially orchids and lilies from developing economies of Asia Pacific and Latin America is opening up new growth avenues. Also, rising trend of gifting flowers especially for special occasions is fueling the market expansion.
Advancements in greenhouse technologies such as hybrid greenhouses, hydroponics systems and use of LED grow lights have considerably increased per hectare crop yields. Automation solutions are also being incorporated in production facilities to maximize efficiencies.
Market Drivers
One of the key drivers propelling the floriculture market growth is the rising expenditures on interior plantscaping and commercial landscaping projects globally. Commercial establishments are increasingly incorporating indoor plants and greens in their interiors to create a pleasant and productive work environment. Moreover, floriculture products are gaining prominence as a soil-less urban farming technique for rooftop gardens across residential and corporate sectors. This is expected to drive the future demand.
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