WILMINGTON, DE / ACCESSWIRE / February 20, 2023 / Transparency Market Research Inc. - The global cut flower market is projected to expand at a CAGR of 6.0% during the forecast period 2023 to 2031, according to the market outlook report released by TMR.
Demand for varied cut flowers, such as carnation, alstroemeria, bird of paradise, roses, lilies, lavender, iris, sunflower, and gladiolus, has increased across the globe in the past few years. This can be ascribed to rise in understanding about such flowers among people. As per the TMR market trends analysis, the rose's type segment is projected to gain a prominent share of the global industry during the forecast period. This can be attributed to an increase in demand for roses owing to several advantages, such as ease of gardening and low cultivation and maintenance costs.
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Cut Flower Market: Key Findings
- Cut flowers are available in various sizes and colors, which makes them suitable for a wide range of applications. Demand for various types of decoration flowers has increased in the past few years owing to rise in their utilization by event management agencies in the decoration of buildings and stages for events. Usage of innovative flower arrangements at various events has increased in the past few years owing to the improved spending power of people from developed and developing countries. This factor is expected to drive the industry growth during the forecast period.
- Proper packaging and transportation of flowers are key factors that can help maintain the quality of products in the cut flower industry. Hence, market players are adopting advanced upgrades in their transportation techniques. Moreover, they are also focusing on usage of advanced packaging technologies that can help in maintaining quality and increase the life of cut flowers. These factors are estimated to support market development in the next few years.
- Flowers can have a positive impact on the mind of sick people and help in improving their mood and health. Furthermore, fragrance and attractive colors of flowers can offer an individual an instant feeling of relaxation. Therefore, sending flowers to sick people is a tradition in numerous countries across the globe. These factors present promising growth opportunities in the global cut flower market.
- Leading players in the cut flower industry are focusing on R&D activities to improve their efficiency in distribution and production platforms to export flowers. These initiatives are likely to aid in rapid market expansion during the forecast period.
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Cut Flower Market: Growth Drivers
- Rise in usage of flowers for decoration in festivals and weddings is creating significant business opportunities for cut flower producers
- Increase in trend of celebrating various occasions, such as Mother's Day and Valentine's Day, is expected to drive market growth during the forecast period
Regional Analysis
- As per the cut flower market analysis by TMR, North America held a significant share of the global industry during 2022. Increase in usage of cut flowers in parties & for special days, personal use, weddings, mega cultural events, welcoming & greeting functions, conferences, and festivals is expected to propel the regional market.
- The market in Europe is likely to witness substantial business opportunities in the next few years owing to increase in usage of roses and rise in number of rose gardens in the region
Cut Flower Market: Competition Landscape
- The global cut flower industry is consolidated in nature, with a few key players holding a larger share of the market
- Companies are investing significantly in R&D activities in order to develop premium quality cut flowers
- Enterprises are focusing on business expansion through strategies such as mergers, acquisitions, and product launches
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Cut Flower Market: Key Players
- Carzan Flowers K Ltd.
- Ball Horticultural Company
- Karuturi Global Limited
- Karen Roses
- Rosebud Ltd.
- Oserian Development Company Limited
- Syngenta Flowers Inc.
- The Queen's Flowers
- The Kariki Group
- Washington Bulb Co., Inc.
Cut Flower Market Segmentation
Type
- Alstroemeria
- Roses
- Bird of Paradise
- Carnation
- Lavender
- Lilies
- Sunflower
- Others (Iris, Gladiolus, etc.)
Pricing
- Mass Pricing
- Premium Pricing
Application
- Personal Use
- Parties & Special Days
- Wedding & Mega Cultural Events
- Welcoming & Greeting
- Conference & Activities
- Others (Rituals, Festival, etc.)
Distribution Channel
- Direct Sales
- Retail Stores
- Floriculture Stores
- Specialty Stores
- Others (Nursery, Individual Supplies, etc.)
Regions Covered
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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