NEW YORK, Feb. 23, 2021 /PRNewswire/ -- Technavio announces the release of its latest report on the floriculture market. The market is segmented by product (cut flowers, bedding plants, potted plants, and others), application (conferences and activities, gifts, and personal and corporate use), and geography (APAC, Europe, North America, South America, and MEA). Get a Free Sample Report Delivered Instantly
The report offers an in-depth analysis of recent developments, changes in market regulations, product approvals, product launches, and the market behavior across various segments.
Floriculture Market: Key Findings
Floriculture market value to grow by USD 29.67 billion at almost 8% CAGR during 2021-2025
35% of market growth to originate from APAC during the forecast period
Based on the product, the cut flowers segment will offer maximum opportunities for vendors during the forecast period
Floriculture market is expected to have a negative impact due to the spread of COVID-19
Floriculture Market: Growth Drivers
High profits associated with growing ornamental plants is one of the prime factors driving the growth of the market. Farmers are increasing the cultivation of ornamental flowers and plants as they generate high-profit margins. For instance, the gross profit margins for pine, cedar, and blue spruce plants are around 55%, 65%, and 72%, respectively. Similarly, other ornamental plants such as chestnut, plum, and maple generate 78%, 84%, and 65% profit margins respectively. Such high-profit margins are encouraging players to increase their product offerings, which is driving the market growth.
"Increasing use of flowers and plants for decorative/aesthetic purposes and the growing prominence for online shopping will further boost market growth during the forecast period", says a senior analyst at Technavio.
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Floriculture Market: Major Vendors
Beekenkamp Group operates its business through the Unified segment. The company offers ornamental flowers such as begonia, campanula, celosia, dahlia, lavandula, osteospermum, and poinsettia.
Danziger Group operates its business through the Unified segment. The company offers cut flowers such as adenanthos, anemone, carnation, caryopteris, chamelaucium, and others.
Dummen Orange operates its business through the Unified segment. The company offers cut flowers such as cut carnations, cut gerbera, cut rose, limonium, and chrysanthemum.
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