Millennial-Driven Trends Breathing New Life into Live Plant, Shrub & Tree Market
US market for live plants, shrubs, and trees totals $10.7 billion
CLEVELAND, Aug. 7, 2019 /PRNewswire/ -- A new Freedonia Group analysis finds the US market for live plants, shrubs, and trees totaled $10.7 billion (at the grower level) in 2018, supported by particularly strong indoor/patio plant sales growth from 2013. Among the key trends shaping this market are millennial-driven, such as plant parenting and – increasingly – outdoor living.
Plant parents changing the houseplant game
Indoor/patio plants accounted for about 20% of total market sales in 2018 – up from around 16% in 2008. Not since the 1970s have houseplants had such a moment, and growers have millennials to thank for the resurgence. Accordingly, marketers continually reconceive the utility of houseplants in the small urban apartments this demographic cohort tends to inhabit – from mere decoration, to indoor air cleaner, to the first step on the path to parenthood (if not homeownership) – and frequently use social media platforms such as Instagram to convey the message.
Outdoor living boosts sales of live outdoor plants, shrubs, & trees
Despite getting a slower start than their parents, more millennials are buying homes and starting families. The shift from plant parents living in rentals with limited outdoor space to actual parents living in their own homes with larger yards will lead to higher spending on outdoor living projects, which typically incorporate a variety of live plants, trees, and shrubbery to enhance aesthetics or serve other purposes – such as attract bees, hummingbirds, and other wildlife – in addition to the hardscaping, lighting, refrigeration, and fire pits needed to imitate the comforts of the indoors.
Want to learn more?
Live Goods: Plants, Trees, & Shrubbery is now available from the Freedonia Group. Covering the US market for live plants, trees, shrubbery, and other live goods (at the grower level), the study presents historical demand data (2008, 2013, and 2018) and forecasts (2023) by product (bedding/garden plants, indoor/patio plants, trees & shrubs, other live goods), region (Northeast, Midwest, South, and West), and end user (consumer/DIY and professional). Additionally, the study presents and discusses major factors affecting demand; growth opportunities; consumer survey data and trends; and retail sales, channels, and marketing strategies. The study also includes profiles analyzing leading growers in the market.
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group
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