Flowers and ornamental plants serve diverse applications, enriching human experiences in numerous ways. Beyond their aesthetic contributions to landscaping, interior decoration, and special occasions, these plants have practical uses in the floral industry, medicinal applications, and horticultural research. The advantages they offer include not only their visual appeal but also environmental benefits such as carbon dioxide absorption and oxygen release. The presence of flowers and ornamental plants positively affects emotional and psychological well-being, contributing to stress reduction and improved mood. Culturally and symbolically significant, these plants play a role in conveying emotions and messages.
According to Data Bridge Market Research analyses, the Global Flowers and Ornamental Plants Market was valued at USD 27.23 billion in 2021 and is expected to reach the value of USD 45.07 billion by 2029, at a CAGR of 6.50% during the forecast period of 2022-2029.
"Rise in plant breeding boosts the market growth"
The surge in plant breeding, encompassing techniques such as crossbreeding and multi-breeding, drives the global flowers and ornamental plants market. Plant breeding programs aim to create plants with superior economic value, enhancing aesthetic appeal and beneficial components for consumers. By employing research and traditional methods, breeders focus on improving traits such as color, bloom duration, disease resistance, and adaptability. The ultimate goal is to boost economic productivity yield, meeting the increasing demand for flowers and ornamental plants.
What restraints the growth of the global flowers and ornamental plants market?
“High costs of research and development hinder the market growth”
The escalating costs of research and development (R&D) activities in the flower and ornamental plants market are a substantial restraint. These increased R&D expenses contribute to higher production costs, potentially making new varieties less affordable for consumers. Moreover, the financial burden associated with R&D can deter smaller players and new entrants, limiting overall innovation and creating barriers to entry. The industry may experience a slowdown in product development as companies become more cautious, and resource allocation challenges may arise, impacting crucial aspects such as marketing and distribution.
Segmentation: Global Flowers and Ornamental Plants Market
The global flowers and ornamental plants market is segmented on the basis of type and application.
- On the basis of type, the global flowers and ornamental plants market is segmented into potted plants, cut flowers
- On the basis of application, the global flowers and ornamental plants market is segmented into home, commercial
Regional Insights: Asia-Pacific is expected to dominate the Global Flowers and Ornamental Plants Market
The Asia-Pacific region dominates the flowers and ornamental plants market due to a cultural emphasis on aesthetics and the increased significance of flowers, considered symbols of good luck, especially in weddings. The region's demand for ornamental plants stems from cultural traditions, and the use of flowers in weddings contributes significantly to market growth. This trend is expected to persist as cultural appreciation for ornamental plants remains strong in Asia-Pacific.
To know more about the study visit, https://databridgemarketresearch.com/reports/global-flowers-and-ornamental-plants-market
Recent Developments in Global Flowers and Ornamental Plants Market
- In March 2022, MARGINPAR BV unveiled Clematis Amazing and now introduces its successor, Clematis Amazing Sydney, grown on partner farms in Tanzania, boasting a length of 70 cm. This innovation marks a pivotal moment in the company's strategy to diversify its product range
- March 2022 saw the release of exceptional breeding achievements by Selecta Klemm, including Pink Kisses and stand-alone varieties such as Peach Party, Purple Wedding, Scully, and DiaDeur series. This strategic move is set to play a crucial role in expanding Selecta Klemm's product portfolio
The Prominent Key Players Operating in the Global Flowers and Ornamental Plants Market Include:
- DÜMMEN ORANGE (U.S.)
- Syngenta (Switzerland)
- Beekenkamp Group (Netherlands)
- Hofland flowering plants (Netherlands)
- SAKATA (U.S.)
- DUTCH FLOWER GROUP (Netherlands)
- MARGINPAR BV (Netherlands)
- Walter Blom Plants BV (Netherlands)
- Selecta Klemm (Germany)
- Double H Nurseries Ltd, (U.K.)
- ARCANGELI GIOVANNI (Italy)
- KP Holland (Netherlands)
- Ball Horticultural Company (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global flowers and ornamental plants market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Flowers and Ornamental Plants Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
