The Indian Floriculture market was worth INR 157 Billion in 2018. The market is further projected to reach INR 472 Billion by 2024, growing at a CAGR of 20.1% during 2019-2024. Floriculture also known as flower farming refers to the cultivation of flowering and ornamental plants. Although flowers have been an integral part of the Indian society and were cultivated for various purposes ranging from aesthetic to social and religious purposes, the commercial floriculture industry has been of recent origin. A strong increase in the demand for cut and loose flowers has made floriculture as one of the important commercial trades in Indian agriculture.
While exports remain a key motivator for cultivators, the domestic demand for flowers is also increasing exponentially, especially in the metros and larger cities. Modernization and growing western cultural influences have driven consumers to buy flowers on a number of occasions like valentine’s day, marriages, anniversaries, birthdays, friendship day, Mother’s Day, Father’s Day etc. Large scale consumption of flowers is also carried out throughout the country during religious festivals.
The metros and the larger Indian cities currently represent major consumers of flowers in the country. As a result of increasing urbanization and influence of western cultures, “saying it with flowers” is becoming quite popular on a number of occasions such as Valentine’s Day, birthdays, festivals, anniversaries, marriages, farewell parties, religious ceremonies, etc. We expect the consumption of flowers to increase further as trends of urbanization and influence of western culture is expected to increase further in the coming years.
Apart from aesthetic and decorative purposes, a significant amount of flower consumption also takes place in industrial applications. This includes flavors, fragrances, natural color, medicines, etc. We expect the consumption of these products to increase continuously during the forecast period creating a positive impact on the floriculture industry.
This report provides a deep insight into the India floriculture market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Indian floriculture market in any manner.
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