New Study from StrategyR Highlights a $41.4 Billion Global Market for Cut Flowers by 2026
SAN FRANCISCO, March 21, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Cut Flowers - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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- Global competitiveness and key competitor percentage market shares
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Edition: 21; Released: February 2022
Executive Pool: 224
Companies: 125 - Players covered include Afriflora Sher; Danziger Group; DOS GRINGOS, LLC; DÜmmen Orange; Esmeralda Farms; Flamingo Horticulture Ltd; Florance Flora; Florensis Flower Seeds UK Ltd; Karen Roses Company; Marginpar BV; MultiFlora; Native Floral Group; Oserian; Rosebud Limited; Selecta Cut Flowers S.A.U.; Washington Bulb Co., Inc. and Others.
Coverage: All major geographies and key segments
Segments: Product Type (Rose, Chrysanthemum & Gerbera, Carnation, Lilium, Other Product Types); Application (Commercial, Home)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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ABSTRACT-
Global Cut Flowers Market to Reach $41.4 Billion by 2026
Cut flowers are fresh flower buds and generally used for decoration. Typically, a cut flower consists of the flower bud as well as leaves and a small portion of the stem. The cut flowers are harvested from plants grown specifically for flowers, many times under controlled conditions such as glass houses. Some flowers are also harvested from the wild, but flowers harvested from fields account for most of the cut flowers sold around the world. Europe and the US are the major consumers of cut flowers, owing to the vast usage of flowers in home decoration as well as commercial decoration. The affluence of the regions and the affinity of consumers to express greetings for all occasions through flowers has resulted in the markets emerging as the major markets. In addition, the Netherlands is the largest flower trading hub in the world. On the other hand, Europe, Latin America, and African and Asian countries are among the largest producers of cut flowers. Changing lifestyles, more emphasis on style and quality are boosting market prospects for cut flowers. Cut flowers industry is expected to develop further from the growing demand for specialty cut flowers. Organic cut flowers market is expected to take some of the thunder of chemically produced cut flowers market over the coming years, as the demand is increasing for natural products that are free from pesticides and chemicals.
Amid the COVID-19 crisis, the global market for Cut Flowers estimated at US$33.1 Billion in the year 2022, is projected to reach a revised size of US$41.4 Billion by 2026, growing at a CAGR of 5.2% over the analysis period. Rose, one of the segments analyzed in the report, is projected to record a 5.9% CAGR and reach US$15.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Chrysanthemum & Gerbera segment is readjusted to a revised 4.9% CAGR for the next 7-year period. Rose flowers account for the largest share of the cut flower market owing to the hundreds of varieties available as well as the versatility of applications of roses in decorations for all purposes.
The U.S. Market is Estimated at $6.5 Billion in 2022, While China is Forecast to Reach $4 Billion by 2026
The Cut Flowers market in the U.S. is estimated at US$6.5 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$4 Billion by the year 2026 trailing a CAGR of 7.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 4.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR.
Carnation Segment to Reach $5.9 Billion by 2026
In the global Carnation segment, USA, Canada, Japan, China and Europe will drive the 5.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.6 Billion will reach a projected size of US$5.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$485.4 Million by the year 2026, while Latin America will expand at a 6.5% CAGR through the analysis period.
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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
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SOURCE Global Industry Analysts, Inc.
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