Global Flowers and Ornamental Plants Market grow at a CAGR of 9.2%
Increasing popularity of flowers and ornamental plants for interior decoration and a growing trend of plant breeding are projected to propel the expansion of the global flowers and ornamental plants market during the forecast period between 2023 and 2029.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global flowers and ornamental plants market size at USD 40.4 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global flowers and ornamental plants market size to grow at a significant CAGR of 9.2% reaching a value of USD 74.81 billion by 2029. Major growth drivers for the global flowers and ornamental plants market include an increasing use of flowers and plants for decorative and aesthetic purposes, the growing prominence of floriculture, and the rising profitability associated with cultivating ornamental plants. Flowers and ornamental plants are widely used for various occasions, such as weddings, funerals, holidays, and everyday home decoration. The demand for floral arrangements and decorations has remained steady, with seasonal variations and cultural influences affecting preferences. Notably, international trade in flowers and ornamental plants has expanded significantly. Flowers are often shipped across continents to meet year-round demand, with countries like the Netherlands, Colombia, and Kenya being major exporters. Breeders and growers continually introduce new flower varieties and hybrids to the market. These innovations aim to offer unique colors, shapes, and sizes to cater to evolving consumer preferences. Also, there is a growing emphasis on sustainable and environmentally friendly practices in the floral and ornamental plant industry. Consumers are increasingly interested in locally sourced and sustainably grown flowers and plants. However, high-cost product is anticipated to restrain the overall market growth during the period in analysis.
Global Flowers and Ornamental Plants Market – Overview
Ornamental plants encompass a wide variety of cultivated flora primarily intended for their aesthetic appeal, finding application in gardens, landscape design ventures, as indoor houseplants, for producing cut flowers, and as display specimens. The specialized cultivation of these plants, known as floriculture, constitutes a significant subsector within the field of horticulture. Within the domain of floriculture, there exists a category that includes cut flowers and ornamental plants. Floriculture encompasses activities such as the propagation, growth, and marketing of cut flowers, flower seeds, and seedlings, the cultivation of bulbs, nursery operations, the application of plant protection measures, post-harvest storage and handling, and the utilization of preservatives. The market has evolved into a thriving, global industry worth billions of dollars.
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Impact of COVID-19 on Global Flowers and Ornamental Plants Market
COVID-19 pandemic adversely affected the global flowers and ornamental plants market. As lockdowns and restrictions curtailed events and celebrations, the demand for flowers plummeted, impacting growers and distributors. Many flower shops and nurseries faced closures, leading to reduced sales and income loss. International flower trade also suffered as logistics and transportation were disrupted. Despite these initial challenges, the pandemic prompted a shift towards online flower sales and home gardening, fostering resilience in the industry. As the situation evolved, the market adapted to changing consumer behaviors, emphasizing the importance of e-commerce and local sourcing.
Global Flowers and Ornamental Plants Market – By Product
Based on product, the global flowers and ornamental plants market is bifurcated into Potted Plants and Cut Flowers segments. The cut flowers segment holds a higher share in the global flowers and ornamental plants market by product during the forecast period. Cut flowers are in high demand for various occasions, like weddings, funerals, and celebrations, contributing to steady year-round sales. Also, their role in the floral and event decoration industry bolsters their market share. Countries including the Netherlands, Colombia, and Germany are key players in exporting cut flowers, with Colombia witnessing increasing demand for exotic varieties, such as anthuriums, orchids, and birds of paradise, particularly roses. Various promotional campaigns are being launched to boost cut flower sales, potentially driving increased demand and market growth.
Competitive Landscape
Major players operating in the global flowers and ornamental plants market include DÜMMEN ORANGE, Syngenta, Beekenkamp Group, Hofland flowering plants, SAKATA, DUTCH FLOWER GROUP, MARGINPAR BV, Walter Blom Plants BV, Selecta Klemm, Double H Nurseries Ltd, ARCANGELI GIOVANNI, KP Holland, and Ball Horticultural Company. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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