The cut flowers market has grown significantly, rising from $33.83 billion in 2023 to $35.73 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.6%. This growth in the historic period can be attributed to cultural and social traditions, floral gifting practices, globalization and supply chain development, expansion of the floriculture industry, and the rise of e-commerce platforms. The market is expected to continue growing robustly, reaching $43.97 billion by 2028 at a CAGR of 5.3%. This anticipated growth is driven by rising demand for sustainable and local products, evolving consumer preferences for online purchases, customization and personalization, health and wellness, and partnerships with florists and retailers. Key trends in the forecast period include technological advancements in cultivation, innovations in flower varieties and genetics, an increase in online flower purchases, the popularity of locally grown flowers, and a heightened focus on flower longevity.
Major Driver In The Cut Flowers Market
The cut flowers market is anticipated to experience growth due to the rising demand for flowers used for decorative purposes. These cut flowers are specifically cultivated for various applications, including floral arrangements, bouquets, and centerpieces. Increased consumer interest in purchasing cut flowers for these decorative purposes is driving the demand and growth of the market. In January 2022, the International Association of Horticultural Producers reported a substantial 40% growth in the global cut flower industry between 2015 and 2020. This upward trend suggests a promising future for the cut flowers market, with a market size of [2024: Value].
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Cut Flowers Market Competitive Landscape
Syngenta Flowers, Flower Auction Aalsmeer, Flamingo Horticulture Holdings Limited, Sher Holland BV, Selecta One Group, MultiFlora Ltd., Dümmen Orange Holding B.V., Red Lands Roses Ltd., Washington Bulb Company Incorporated, Soex Flora Group B.V., David Austin Roses Limited, Royal Van Zanten, Dos Gringos LLC, Esmeralda Farms Inc., Oserian Development Company Limited, The Queen's Flowers SAS, Selecta Cut Flowers SAU, Kariki Limited, Karen Roses Ltd., Florius Flowers, James Finlay & Co., Marginpar B.V., Rosebud Holdings Limited, Afriflora Sher Ethiopia plc, Florance Flora LLP, Beekenkamp Group, Karuturi Global Limited, Kwekerij De Ruiter, Ambuja Flower Farm
Key Cut Flowers Market Trend
Companies in the cut flowers market are developing innovative products, such as genetically modified flowers, to gain a market edge. Genetically modified flowers have altered genetic material to introduce desired traits. For example, in August 2023, Suntory Flowers, a US-based company, launched the BluOcean Chrysanthemum, a genetically modified flower featuring violets and blues. Developed in collaboration with Japan's National Agriculture and Food Research Organization, this flower is designed for professional florists and offers enhanced color traits.
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Cut Flowers Market Segmentation
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
By Geography:The regions covered in the cut flowers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Europe was the largest region in the cut flowers market in 2023.
The Cut Flowers Global Market Report 2024 furnishes information about the global cut flowers market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
