According to the latest report by IMARC Group, titled “Indian Floriculture Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The Indian floriculture market size reached INR 231.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach INR 460.6 Billion by 2028, exhibiting a growth rate (CAGR) of 13.1% during 2023-2028.
Industry Definition and Application:
Floriculture, alternatively referred to as flower farming, represents the cultivation procedures of flowering and ornamental plants. They are of several types, including bedding plants, potted plants, hanging plants, dried plants, cut flowers, etc. Floriculture practices also include the production of planting materials through seeds, buddings, cuttings, and grafting. Flowers and plants cultivated through these methods are used for direct sales or as raw materials for manufacturing cosmetics and perfume. Consequently, they are extensively practiced in India.
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Indian Floriculture Market Trends:
The increasing usage of flowers for numerous purposes ranging from aesthetic to religious and social, such as anniversaries, birthdays, farewell parties, etc., is among the key factors driving the Indian floriculture market. In addition to this, the rising exports of various types of flowering plants are acting as significant growth-inducing factors. In line with this, the elevating demand for cut flowers, owing to their sweet fragrance and beauty, and the launch of new technologies to improve the output of these products are also positively influencing the market across India. Moreover, the inflating need to incorporate green cover into the interior designs of workplaces and the escalating focus among leading players on developing plant biotechnology are further stimulating the market growth.
Apart from this, the introduction of cold chain protocols among business to business (B2B) flower buyers to prevent the degradability of products and the growing integration of a virtual trade network that enables improved logistics coordination and information availability across the floriculture supply chain to ensure fast, smooth, and cost-effective deliveries of flowers are expected to bolster the Indian floriculture market over the forecasted period.
Indian Floriculture Market 2023-2028 Analysis and Segmentation:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
The report has segmented the market on the basis of flower type, retail Vs institutional, distribution channel and application.
Breakup by Flower Type:
- Cut Flowers
- Loose Flowers
Breakup by Retail Vs Institutional:
Breakup by Distribution Channel:
- Unorganised Retail
- Supermarkets and Hypermarkets
Breakup by Application:
- Aesthetic and Decorative Applications
- Flavours and Fragrances
- Natural Colours
Breakup by State:
- Andhra Pradesh
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive mapping of the competitive landscape
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