Floriculture Market size is poised to reach USD 144 Billion by the end of 2036, growing at a CAGR of 8% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of the floriculture was USD 57 Billion and the reason behind this growth is impelled by the growing popularity of edible flowers such as citrus blossoms, roses, hibiscus, lavender, and nasturtium, as the major part of populations are shifting towards being health conscious. According to a report by the National Library of Medicine, edible flowers highly contribute to increasing the appearance of food, while providing biologically active substances such as vitamins A, and C, niacin, riboflavin, and minerals such as phosphorous, calcium, iron, and potassium that are greatly beneficial to consumers' health.
Furthermore, the growth in the development of several e-commerce websites has made it easier for consumers to trade flowers internationally, and with such ease, consumers can now acquire flowers online. The sales in online stores were expected to cross 22% of global retail sales by 2023, compared to 14.1% in 2019. It is also estimated that by 2024, digital wallets will account for over half of total e-commerce payment volumes.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~8% |
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Base Year Market Size (2023) |
~ USD 57 Billion |
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Forecast Year Market Size (2036) |
~ USD 144 Billion |
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Regional Scope |
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Product Type (Cut Flowers, Bedding Plants, Potted Plants)
Cut flowers segment in the floriculture market is estimated to gain a robust revenue share of 49% in the coming years owing to their increased demand and consumption as these flowers are the popular choice for floral arrangements, bouquets, and various decorative items, resulting in an overall increased demand and consumption. Along with the growing preferences for cutting-edge flower varieties, such as orchids, lilies, and roses, they have grown in popularity, adding to the overall demand and growth of cut flowers within the market. About three-quarters of purchases (77%) of cut flowers are made with a reason/occasion in mind.
Application (Personal use, Gifts, Conference)
The personal use segment is set to garner a notable share shortly and is likely to remain the second largest segment in the application of the floriculture market as its application includes home decoration, occasion celebrations, and gifting purposes. The availability of personal-use floral products has increased, making it easier for consumers to access them via various delivery options, such as online stores, and home delivery. Moreover, the awareness about the benefits of using flowers for home decoration and various other purposes has grown.
Sales (Direct Sales, Specialty Stores, Franchises, Florists and Kiosks, Supermarkets, Hypermarkets, Independent Small Stores, Online Retailers)
The direct sales segment in the floriculture market is estimated to hold a noteworthy share due to the increased exposure in direct sales which enables the consumers to interact directly with the product and allows them to learn more and make their decisions based on their actual preferences. Direct sales have access to a wide variety of floral products, providing a greater choice for consumers. Moreover, direct sales allow consumers to take home the products right away, providing immediate accessibility and satisfaction.
Our in-depth analysis of the global floriculture market includes the following segments:
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Product Type |
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Application |
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Sales |
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APAC Market Forecast
The floriculture market in Asia Pacific is estimated to have the largest share of approximately 46% in 2023, impelled by the growing cultivation of several types of flowers and plants in developing countries such as India and China. India the floriculture business is benefiting from a shift in manufacturing practices. Floriculturists are transitioning away from traditional flowers and toward cut flowers to service international markets. About 283 thousand hectares of the area were under Cultivation for floriculture in 2021-22. Production of flowers is estimated to be 2295.07 thousand tons of loose flowers and 833.16 thousand tons of cut flowers in 2021-22.
North American Market Statistics
The North American floriculture market is estimated to be the second largest, during the forecast timeframe led by the technological improvements and development in horticulture practices and greenhouse technology as creating opportunities for this market growth. Additionally, the rise in internet penetration is increasing awareness of about forticulture products among consumers. The US floriculture market is witnessing a cultural preference for gifting flowers, driving market demand.
Author Credits: Shivam Bhutani, Anil Kumar
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