PUBLISHER: The Business Research Company | PRODUCT CODE: 1436289
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436289
A flower and ornamental plant are plants planted primarily for aesthetic purposes, such as screening, accent, specimen, color, or aesthetics. Typically grown in flower gardens, they showcase their flowers for visual appeal.
The primary types of flowers and ornamental plants are categorized as potted plants and cut flowers. Potted plants are those cultivated and grown in containers rather than in the ground. These plants are distributed through major channels including offline (physical stores) and online platforms. The end-users for these flowers and ornamental plants span both commercial and residential settings.
The flowers and ornamental plants report is one of a series of new reports from The Business Research Company that provides statistics on flowers and ornamental plants, including global market size, regional shares, competitors with a flower and ornamental plant share, detailed flower and ornamental plant segments, market trends and opportunities, and any further data you may need to thrive in the flower and ornamental plant industry. This flowers and ornamental plants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
The flower and ornamental plant market size has grown strongly in recent years. It will grow from $43.09 billion in 2023 to $46.68 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth observed in the historic period can be attributed to factors such as cultural and religious significance, landscaping and urban beautification projects, event decoration, memorial and funerary practices, as well as advancements in horticulture.
The flower and ornamental plant market size is expected to see strong growth in the next few years. It will grow to $67.56 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The anticipated growth in the forecast period can be attributed to factors such as economic growth and disposable income, a focus on sustainable and locally sourced products, the influence of social media, the creation of community gardens and green spaces, and the ongoing trend of increasing urbanization. Major trends expected during this period include the prominence of online and direct-to-consumer sales channels, the integration of technology for virtual floral experiences, the customization of flower arrangements, innovation in indoor gardening products, and the popularity of drought-tolerant and low-maintenance plants.
The increasing demand for indoor plants and flowers in the residential sector is expected to drive the growth of the flower and ornamental plant market in the foreseeable future. Indoor flowers and plants are cultivated within indoor spaces, such as residences and offices. Ornamental plants, suitable for indoor cultivation year-round, contribute to creating a warm environment. Indoor plants offer numerous benefits, including stress reduction, enhanced creativity, productivity, and focus. As long as these plants receive ample sunlight, they can thrive indoors. For instance, in April 2023, the National Gardening Association, a U.S.-based gardening association, reported that the average household expenditure on lawn and gardening activities in 2022 was $616, representing a $74 increase from 2021. Consequently, the growing demand for indoor plants and flowers in the residential sector is a key factor driving the expansion of the flower and ornamental plant market.
The ongoing process of urbanization is expected to drive the growth of the flower and ornamental plant market in the future. Urbanization refers to the increasing proportion of a population residing in urban areas, such as cities and towns. The incorporation of flowers and ornamental plants into urban environments extends beyond aesthetics, playing a role in enhancing property values, improving air quality, regulating temperature, supporting urban agriculture, and serving as tourist attractions. These contributions contribute to environmental sustainability, community well-being, and an overall improvement in the quality of life in urban areas. For example, in January 2022, the United States Department of Commerce reported that the population in the U.S. was 332,403,650 in 2022, indicating a 0.21% increase from 2021. Therefore, the ongoing trend of increasing urbanization is a key factor driving the growth of the flower and ornamental plant market.
Hybridization and biotechnology are emerging as key trends in the flower and ornamental plant market. Major companies in this sector are actively engaged in the development and introduction of ornamental plants produced through hybridization and biotechnology, exemplified by varieties such as Pink Kisses and others, to maintain their competitive positions. As an illustration, in July 2022, Somani Seeds, an India-based vegetable seed company, introduced a novel hybrid carrot variety known as Red Queen. This hybrid carrot provides an alternative to the Nantes carrot, an English cultivar that is less sweet and orange in color, and has a shorter shelf life. The use of hybridization and biotechnology in ornamental plants enhances traits such as color, fragrance, and overall aesthetics, contributing to the market's innovation and growth.
Major companies in the flower and ornamental plant market are actively developing new products, including advanced pot cultivation techniques, to gain a competitive advantage. Pot cultivation involves using various tools and methods to optimize plant growth and productivity, often utilized for indoor or controlled environment cultivation. As an example, in October 2023, Dummen Orange Holding B.V., a Netherlands-based company specializing in breeding and developing flowers and plants, launched the new Suntaste Pot Chrysanthemum series. This series is an extension of Dummen Orange's continuous efforts to provide innovative and superior plant varieties to the market, reinforcing its position as a leading Dutch plant breeder and propagator. The Suntaste series aims to offer distinctive and colorful options for potted Chrysanthemums to meet the preferences of both producers and consumers. With petite, anemone-such as flowers in a variety of vibrant colors, this series is suitable for year-round production in various pot sizes.
In September 2022, Plant World, a Netherlands-based company specializing in flowering and ornamental plant production, successfully acquired Hoefnagels for an undisclosed amount. This strategic acquisition is aimed at expanding Plant World's portfolios in ornamental horticulture, tropical foliage plants, and a variety of garden Hydrangeas plants. Additionally, the acquisition enhances Plant World's global presence in the houseplant trade. Hoefnagels, the acquired company, is based in the Netherlands and is known for its expertise in tropical and ornamental horticulture.
Major companies operating in the flower and ornamental plant market report are Syngenta Flowers, Selecta Klemm GmbH & Co. KG, Monrovia Nursery Co., Kurt Weiss Greenhouses Inc., Ball Horticultural Company, Suntory Flowers Ltd., Sakata Seed, Beekenkamp Group., Dummen Orange, Florensis, Karuturi Global Ltd., Tagawa Greenhouses, Van Belle Nursery, KP Holland, Color Spot Nurseries, Oserian Development Company, Volmary GmbH, HilverdaFlorist, Ernst Benary Samenzucht GmbH, Florexpo LLC., Afriflora Sher Ethiopia, Butters Group, Chrysal International, Marginpar B.V., Arcangeli Giovanni and Figlio, Belaya Dacha Flowers, Fides Oro, Danziger Dan Flower Farm, Kapiteyn horticulture bv, Jetha Lachmandas Bhatia.
Asia-Pacific was the largest region in the flowers and ornamental market in 2023. The regions covered in the flower and ornamental plant market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the flower and ornamental plant market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The flower and ornamental plant market consists of sales of aquatic, perennial, and annual plants. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The market value includes the value of related goods sold by the service provider or included within the service offering.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Flower and Ornamental Plant Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on flower and ornamental plant market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for flower and ornamental plant ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The flower and ornamental plant market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.