The global flower and ornamental plants market is poised for significant growth from 2024 to 2028, according to a recent report by Technavio. The market is projected to expand at a compound annual growth rate (CAGR) of 6.69% during this period, fueled by several key factors.
One of the primary drivers of this growth is the expansion of distribution channels. Traditional retailers like Costco and Walmart, alongside e-commerce platforms, are increasing product availability and market penetration. This trend is evident in the launch of mobile apps by companies like 1-800-Flowers, enhancing customer experience and providing access to product descriptions, price comparisons, and gardening tips online. The growing popularity of international flower delivery services further supports this trend, driven by the increasing use of smartphones and internet penetration.
Another significant factor driving market growth is the rising awareness of indoor gardening and the desire for greener spaces. This has led to an increase in the demand for various types of flowers and ornamental plants, including roses, tulips, sunflowers, and succulents. Consumers are purchasing these plants for personal use, events, and commercial establishments. The availability of a wide range of plant varieties and convenient online shopping options further boosts market growth.
The ornamental plants and flowers market is also witnessing various trends, including the use of potted plants in homes and offices, the growing popularity of flowering trees, and the demand for low-maintenance plants. Sustainability is becoming increasingly important, driving the use of native plants and landscaping with indigenous species. The rise of flower delivery services and the increasing popularity of seasonal flowers are further trends contributing to market growth. Additionally, there is a growing interest in edible flowers and their use in food and beverages.
The market is segmented based on various factors, including flower type, plant type, application, distribution channel, and geography. Key players in the market are focusing on plant breeding to develop new and unique varieties, contributing to the overall growth of the market. The floral industry provides consumers with a connection to nature and enhances the aesthetic appeal of our surroundings, contributing to the market’s continued success.
Technavio is a leading global technology research and advisory company that provides actionable insights to businesses. Their research and analysis focus on emerging market trends, helping businesses identify market opportunities and optimize their market positions. With over 500 specialized analysts, Technavio’s report library boasts over 17,000 reports covering 800 technologies across 50 countries. Their client base comprises enterprises of all sizes, including over 100 Fortune 500 companies, relying on Technavio’s comprehensive research and market insights.
