South Korea’s floriculture market, valued at USD 317.8 million in 2023, is expected to nearly double, reaching USD 647.4 million by 2033. This growth is driven by a forecasted compound annual growth rate (CAGR) of 7.4% over the next decade, reflecting an increasing demand for flowers and ornamental plants in the country.
Growing Demand for Flowers and Ornamental Plants
In 2023, South Korea’s floriculture market saw a strong market value, as more consumers embraced flowers and plants in both homes and businesses. As people focus more on aesthetics, sustainability, and personal well-being, the demand for high-quality flowers, exotic plants, and eco-friendly gardening solutions has grown. This trend is also supported by a rising number of gardening enthusiasts and the increasing popularity of horticulture as a hobby.
Experts predict this demand will continue to rise, with the market set to expand rapidly, especially in urban areas. From local flower markets to upscale boutiques, the need for premium flowers and plants is expected to grow significantly.
Technology and Sustainability Fuel Market Growth
The growth of South Korea’s floriculture sector is also linked to advancements in technology and sustainability. Innovations in plant breeding, greenhouse technologies, and automated production methods are improving both the quality and availability of flowers. As South Koreans become more eco-conscious, demand for sustainably grown flowers, organic fertilizers, and eco-friendly gardening solutions has risen.
Floriculture businesses are adapting to these trends, integrating smart farming techniques and eco-friendly greenhouse designs. These practices are expected to support continued growth in the market.
Floriculture Gaining Popularity in Gifting and Events
Floral arrangements are deeply rooted in South Korean culture, with flowers playing a vital role in celebrations, festivals, and significant life events. The tradition of gifting flowers during holidays, weddings, and other special occasions is stronger than ever, ensuring a steady demand for floral products. As social gatherings and events recover after the pandemic, floriculture businesses are well-positioned to meet this growing demand for floral gifts, decorations, and event-based services.
Flowers and plants are also becoming more common in interior design, as consumers recognize their psychological benefits. Many are incorporating flowers and greenery into their homes and offices, further boosting the floriculture market.
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