Cut Flowers Market Presents Strong Revenue Visibility in Near Future And Booming at a CAGR of 4.3%

Cut Flowers Market Presents Strong Revenue Visibility in Near Future And Booming at a CAGR of 4.3%
4 min read
25 October 2022

The global cut flowers market was valued at US$ 34,347.23 million in 2019 and is projected to reach US$ 49,074.09 million by 2028 it is expected to grow at a CAGR of 4.3% during 2020–2028. The scope of this study involves understanding the factors contributing to the growth of the market; it also includes estimating and forecasting the revenues, conducting the market share analysis, and spotting significant market players along with their key developments.

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The five main type of cut flowers available are rose, carnation, lilium, chrysanthemum, and gerbera. Cut flowers are the flower buds that have been cut from the plant and are ordinarily removed from the plant for decoration. The common uses of cut flowers are in vase displays, wreaths, and garlands. The cut flowers are harvested by several gardeners from domestic gardens. There is a notable floral industry for cut flowers in most countries.

Based on flower type, the cut flowers market is segmented into rose, carnation, lilium, chrysanthemum and gerbera, and others. In 2019, the rose segment dominated the cut flowers market. The growth of the segment is attributed to the fact that the cultivation of rose cut flower is a profitable crop for farmers. Selection of the right variety of flowers is an important tool in commercial floriculture.

The COVID-19 outbreak, which began in Wuhan, China, during December 2019, has spread across the globe. As of April 2021, the US, India, Brazil, Russia, the UK, France, Spain, Italy, Turkey, Germany, Colombia, and Argentina are among the worst affected countries in terms of confirmed cases and reported deaths. The outbreak has affected economies and industries due to lockdowns, travel bans, and business shutdowns imposed by governments. Consumer goods, horticulture, and floriculture are among the world’s major industries suffering serious disruptions in the form of supply chain breaks as a result of this pandemic. The transport bans in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa has affected the global supply chain and negatively impacted the delivery schedules and sales of various goods. 

Based on geography, the global cut flowers market is broadly segmented into five regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). Europe accounted for the largest share of the global cut flowers market in 2019, followed by North America and Asia Pacific.

INCREASE IN THE DEMAND OF CUT FLOWERS FOR DECORATIVE PURPOSES – INFLUENCE THE MARKET GLOBALLY

Fresh cut flowers are highly perishable because they maintain only limited life-supporting processes by taking water up through their stems. Fresh cut flowers are used for decorative purposes such as vase arrangements and bouquets at formal events; designs for weddings and funerals; gifts on occasions, in times of illness, and at holidays such as Christmas and Easter; corsages and boutonnieres; and informal displays to beautify homes and public places. They may be used in boutonnieres, corsages, wreaths, formal and informal displays, and similar ornamental articles.

With the onset of the demand of the Interior designers and Wedding Planners in contemporary times, the cut flowers’ demand has also increased. Interior Designers and Wedding Planners make use of decorative flowers to enhance the beauty of their work. Therefore, if more and more people hire Wedding Planners and Interior Designers, chances of the demand of cut flowers to increase are high. Beautiful flowers, with respect to the common perception which people possess, are often in more demand. Flowers like Roses, Sun-Flowers, and Carnation are always in high demand in festive times. The Asian countries use flowers for the purpose of decoration. Companies such as Karen roses and multiflora provides cut flowers for the purpose of decoration. 

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Ankush Makde 2
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