According to the latest report by IMARC Group, titled “IndianFloricultureMarket: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the Indian floriculture market size reached INR 228 Billion in 2020. Also known as flower farming, floriculture refers to the cultivation, processing, and marketing of ornamental plants, such as cacti and other succulents. It assists in generating employment opportunities aroundtheyear and earning foreign exchange. It also aids in combating pollutionand adding an aesthetic value, such as psychological, landscaping, indoor gardening, and flower arrangement.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Indian Floriculture Market Trends:
There is presently a rise in the demand for quality flower seeds, especially annual ornamentals and ornamental planning materials, in India. This, in confluence with the changing lifestyles and increasing per capita income of individuals, represents one of the key factors bolstering the growth of the market. Apart from this, the rising trend of presenting flowers on different occasions, such as Valentine’s Day, birthdays, festivals, marriages, anniversaries, religious ceremonies, and farewell parties, is another factor contributing to market growth. Furthermore, the Government of India is providing subsidies for establishing pre-cooling units, cold storage, greenhouses, and refrigerated vans, which is creating a favorable market outlook. Besides this, the growing utilization of flowers as raw materials for the production of perfumes, essences, medicines, and confectioneries is driving the market.Looking forward, the market value is projected to reach INR 661 Billion by 2026, expanding at a CAGR of 19.2% during the forecast period (2021-2026).
- Based on the flower type, cut flowers hold the largest market share, followed by loose flowers.
- The market has been analyzed on the basis of retail vs.institutional, wherein the retail segment accounts for the majority of the total market share.
- Based on the distribution channel, the market has been categorized into unorganized retail, florists, supermarkets and hypermarkets, online, and others.Amongst these, the unorganized retail channel dominates the market.
- On the basis of the application, the market has been segmented into aesthetic and decorative purposes, flavors and fragrances, natural colors, medicines, and others.At present, aesthetic and decorative applications account for the biggest market share.
- The competitive landscape of the market has been examined,with some of the key players being Karuturi Global Limited, SyngentaIndia Limited, Ferns ‘N’ Petals Private Limited, Florance Flora Farm, and Soex Flora.
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