The global flower and ornamental plants market is expected to grow by USD 28.98 billion as per Technavio. This marks a market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 6%.
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Technavio has announced its latest market research report titled Global flower and ornamental plants market 2020-2024 (Graphic: Business Wire)
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Read the 120-page report with TOC on "Flower and Ornamental Plants Market Analysis Report by Product (Cut flowers and Potted plants), Geography (APAC, Europe, North America, South America, and MEA), and the Segment Forecasts, 2020-2024".
The market is driven by the use of flowers and plants for decorative and aesthetic purposes. In addition, the growth in floriculture is anticipated to boost the growth of the flower and ornamental plants market.
Occasional flowers and ornamental plants are extensively used for decorative purposes in social events, special occasions and festivals. They hold high importance and contribute a significant portion of the budget in wedding ceremonies, particularly in the Indian market. In western markets, flowers such as gardenias, sweet peas, Stephanotis, buttercups, peonies, hydrangeas, lily, tulips, and roses are highly popular and are used in various ceremonies. Besides, rising disposable incomes, availability of several varieties of decorative plants, and growing focus on improving aesthetics are increasing consumer spend on flowers and ornamental plants. These factors are fueling the growth of the global flower and ornamental plants market.
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Major Five Flower and Ornamental Plants Market Companies:
1-800-FLOWERS.COM Inc. operates its business through segments such as Consumer Floral, BloomNet Wire Service, and Gourmet Foods & Gift Baskets. The company offers both flowers and ornamental plants. Some of the variants are orchids, bonsai, succulents, and others.
Astra Fund Holland BV
Astra Fund Holland BV operates its business through segments such as Cut flowers, Pot plants, and Outdoor plants. The company offers cut flowers, pot plants, and outdoor plants.
Ball Horticultural Co.
Ball Horticultural Co. operates its business through a unified segment. The company offers various products under Aster Matsumoto Series, Bells of Ireland (Moluccella), Campanula Champion Pro Series, and others.
Dutch Flower Group
Dutch Flower Group operates its business through a unified segment. The company offers fresh cut flowers through its retail plants such as Green 4 Retail, Hamiplant, OZ Planten, and Vida Verde.
Farplants Sales Ltd.
Farplants Sales Ltd. operates its business through segments such as Plants and Planted containers. The company offers plants under its hotspot category, bedding category, and others.
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Flower and Ornamental Plants Market Product Outlook (Revenue, USD Billion, 2020-2024)
Flower and Ornamental Plants Market Regional Outlook (Revenue, USD Billion, 2020-2024)
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