Cut Flowers Market
The Cut Flowers Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Cut Flowers Global Market Report 2024, The cut flowers market size has grown strongly in recent years. It will grow from $33.83 billion in 2023 to $35.73 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to cultural and social traditions, floral gifting practices, globalization and supply chain development, expansion of floriculture industry, rise of e-commerce platforms.
The cut flowers market size is expected to see strong growth in the next few years. It will grow to $43.97 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to rising demand for sustainable and local products, evolving consumer preferences for online purchases, customization and personalization, health and wellness, partnerships with florists and retailers. Major trends in the forecast period include technological advancements in cultivation, innovations in flower varieties and genetics, rise in online flower purchases, popularity of locally grown flowers, increased focus on flower longevity.
The rising demand for cut flowers for decorative purposes is expected to propel the growth of the cut flowers market going forward. Cut flowers for decorative purposes refer to flowers that are grown specifically to be cut and used in various decorative applications, such as floral arrangements, bouquets, and centerpieces. As more consumers purchase cut flowers for decorative purposes for floral arrangements, bouquets, and centerpieces, the demand for cut flowers is increasing which will boost the market. For instance, in January 2022, according to the report published by the International Association of Horticultural Producers (AIPH), a UK-based trade association dedicated to promoting horticultural producers, the global cut flower industry experienced an overall growth of 40% between 2015 and 2020. Therefore, the rising demand for cut flowers for decorative purposes will increase the demand for the cut flowers.
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The cut flowers market covered in this report is segmented –
1) By Flower Type: Rose, Chrysanthemum, Carnation, Gerbera, Lilium, Other Flower Types
2) By Application: Personal Use, Parties And Special Days, Wedding And Mega Cultural Events, Welcoming And Greeting, Conference And Activities, Other Applications
3) By Distribution Channel: Supermarkets And Hypermarkets, Specialty Store Or Florists, Online Retail, Other Distribution Channels
Major companies operating in the cut flowers market are focusing on strategic collaboration, to provide reliable services to customers. Strategic collaboration refers to a mutually beneficial partnership between two or more independent entities who work together to achieve shared goals aligned with their individual strategic objectives. For instance, in January 2023, OptiBoost, a Sweden-based provider of cut flowers postharvest treatments and processes, partnered with One Flora Group, a Netherlands-based provider of horticultural products, to improve cut flowers shelf life. The partnership aims to extend the shelf life of cut flowers significantly using OptiBoost technology and improve the quality and sustainability of cut flowers throughout the supply chain.
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