The global flower and ornamental plants market is currently valued at over USD 3 trillion and is expected to reach almost USD 4 trillion by 2021, says Technavio.
Technavio has announced its latest market research report on the global flowers and ornamental plants market, under its retail goods and services portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like 1-800- FLOWERS.COM, Dutch Flower Group, FTD Companies, and Royal FloraHolland.
According to Sharan Raj, a lead analyst for retail goods and services research at Technavio, “The cultivation of flowers and plants for sale is on the rise owing to the high-profit margins associated with selling outdoor ornamental plants and flowers. High-profit margins enable players to increase their offerings in the market space.”
Plants such as lavender, woody ornamentals, bonsai plants, and bamboo have been highly profitable for the players. For instance, over 600 bamboo plants in five-gallon pots can be grown in a 30 x 40-inch space. The container landscaping bamboo brings an average price of around $45.
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Expanding distribution channels in B2B and B2C spaces
Several leading retailers such as Costco and Walmart have been offering ornamental plants across different brands and at different price ranges. In the business-to-consumer (B2C) space, the online segment plays a major role in the growth of the market. Furthermore, many small- and mid-sized vendors sell their products exclusively through the online channel. Online retailers provide product descriptions and price comparisons across products on their websites, thereby making it easier for consumers to make a purchase decision. In addition, the websites also offer gardening tips and help to choose flowers suitable for specific occasions.
Growing demand for premium flowers
Flowers such as calla lily and tulips have high demand among consumers and are some of the premium offerings in the market. The demand for premium bouquets with various collections of flowers is also growing, particularly for use on special occasions like weddings. Many premium floral boutiques are expanding their presence to cater to the evolving consumer demand. For instance, Ferns N Petals, one of the premium floral boutiques in India, has been expanding its presence across the country over the last few years. In addition, the company has increased its delivery options in international markets such as the US, the UK, and Germany.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Flower and Ornamental Plants Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Plant Growth Regulators Market 2017-2021
- Global Ornamental Plants Market 2017-2021
- Global Aquarium Accessories Market 2016-2020
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