Floriculture Market in Malaysia to grow by USD 220.97 million from 2021 to 2026 | The use of flowers and plants for decorative or aesthetic purposes drives the market - Technavio

NEW YORK, Aug. 24, 2023 /PRNewswire/ -- The floriculture market in Malaysia size is expected to grow by USD 220.97 million from 2021 to 2026, decelerating at a CAGR of 3.15% as per the latest Technavio market research report. Malaysia is going to have lucrative growth during the forecast period. For more insights on the market share of various regions- Download a sample report in MINUTES

Market Dynamics

Key Floriculture Market Driver in Malaysia

One of the key drivers supporting the Malaysian floriculture market growth is the use of flowers and plants for decorative or aesthetic purposes. In Malaysia, the growing domestic and housing property market has led to more significant demand from the landscaping industry. In 2020, the shrubs, flowers, and planting media categories dominated the gardening and outdoor living market in the region and contributed to over 40% of the market. The growing disposable income of households is the major factor that is promoting individuals to spend more on their gardens. However, the availability of various varieties of flowering plants, and the growing urge among individuals to improve environmental sustainability will persist to play a major role in market growth during the forecast period.

Key Floriculture Market Trends in Malaysia

One of the key floriculture market trends in Malaysia supporting the market growth is the increasing use of biotechnology in floriculture. 

Key Floriculture Market Challenge in Malaysia

The over-dependence on climatic conditions is a significant challenge hindering market growth. 

To know about more drivers, trends along with challenges - Download a sample now!

Some of the key Floriculture Market in Malaysia Players:

The floriculture market in Malaysia is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market. Some of the key players are mentioned below:

Black Tulip Group, Dummen Orange, Floristika.com.my Sdn Bhd, I-Tech Farming Solution (M) Sdn Bhd, Paling Horticulture Sdn Bhd, Splendid Floriculture Sdn Bhd, Syngenta AG, Waltex Biotec Sdn. Bhd., Weeds and More Pte Ltd., and Yayasan Sabah Group. 

What`s New for 2023?

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial
• Customization options available as per your business needs
• Access to 17000+ research report subscriptions Buy the report

This floriculture market in Malaysia forecast report extensively covers segmentations by type (Chrysanthemum, rose, carnation, and others) and sales type (Domestic and exports). 

• The floriculture market share growth in Malaysia by the chrysanthemum segment will be significant during the forecast period. In Malaysia, chrysanthemums hold cultural significance, as they are regarded as auspicious and are used as common decorative flowers during events such as marriages or local festivals. However, they are available in a wide variety of flowers and bloom sizes. Therefore, such a factor increases the demand for chrysanthemums in the country for various decorative purposes on several occasions.

For additional information on the market contribution of each segment - Grab an Exclusive Sample Report

Get Instant access to 17000+ market research report

 Technavio's Subscription Platform

Related Reports: 

The floriculture market is estimated to grow at a CAGR of 8.6% between 2022 and 2027. The size of the market is forecast to increase by USD 44.88 billion. This report extensively covers market segmentation by application (conferences and activities, gifts, and personal and corporate use), product (cut flowers, bedding plants, potted plants, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa). The growing prominence of online shopping is notably driving the market growth. 

The floriculture market share in Vietnam is expected to increase to USD 283.21 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 11.5%. This report extensively covers floriculture market segmentation in Vietnam by application (gift, conference and activities, and others) and type (rose, chrysanthemum, carnation, and others). One of the key factors driving growth in the floriculture market growth in Vietnam is the use of flowers and plants for decorative/aesthetic purposes.

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Type

7 Market Segmentation by Sales type

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio