Green Revolution: Floriculture Market Poised to Hit US$106.1 Billion by 2033

According to statistics recently issued by Future Industry Insights (FMI), the floriculture industry is expected to grow at a compound annual growth rate (CAGR) of 6.3% from 2023 to 2033, from an anticipated US$ 57.5 billion in 2023 to US$ 106.1 billion by 2033.

Flowers are bought for a variety of purposes, including expressing love or sympathy, as well as achieving environmental and aesthetic aims. Horticulture is currently being adopted because of the necessity to incorporate green cover into workplace interior designs.

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The market for floriculture, which is mostly supported by cut flowers, will grow significantly thanks to the recent explosion in the popularity of edible flowers.

Institutions/events currently holding around 3/5 of the share in the market would remain the prominent adopters of floriculture items.

Huge potential for flowers for the purpose of decoration throughout multiple occasions would fuel the growth of the institutions/events segment during the forecast period.

Key Takeaways – Global Floriculture Market Study

Europe is expected to retain its dominant position in the global floriculture market, attributed to increasing adoption of gardening activities in the region.
Among product type, the cut flowers segment is considered a key contributor to growth of the global floriculture market, due to high consumption of fresh roses in decorations such as bouquets at events, vase arrangements, and as gifts on special occasions.
The cut foliage segment is expected to witness a significant CAGR in the global floriculture market, owing to increasing use of mix bouquets in flower arrangements at events and festivals.

Rising Environmental and Social Responsibility to Shape Market Trends

Consumers demand sustainably produced flowers, attributable to increasing consumer awareness regarding environmental and social impact of production and trade of floriculture products worldwide. Thus, all participants in the floriculture value chain aim adopt sustainable agricultural practices such as integrating pest management and conservation agriculture to reduce negative impact of their activities on the environment.

Consumers in the market are also willing to pay more for sustainably grown flowers. Thus, companies aim to obtain certifications and are offering fair trade, FPP, and other certified flowers to their consumers in order to improve their market position.

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Floriculture Market: Competitive Landscape

Prominent players in the global floriculture market

Forest Produce Ltd.
Selecta Cut Flowers SAU.
Native Floral Group
Tropical Foliage Plants, Inc.
Oserian Group
Esmeralda Farms
Marginpar BV
DOS GRrINGOS, LLC
Flamingo Horticulture Ltd.
Danziger Group
Florensis Flower Seeds UK Ltd.
Verbeek Export B.V.
Florance Flora
Others (As per Request)

Players in the floriculture industry are focusing on Asia for production and sales of commercial floriculture products, owing to significant rise in demand for low cost flowers in this region. Companies are also entering various strategic partnerships with domestic players to expand their market footprint.

Key Segments of Floriculture Industry Survey

By Product Type, Global Floriculture Market is segmented as: