The global cut flowers market is on a trajectory to experience remarkable growth, projecting a CAGR of 4.7% between 2022 and 2030. According to the latest research study, titled “Cut Flowers Market Size Report, Forecast to 2030 – COVID-19 Impact and Global Analysis,” the market is set to expand from $36.84 billion in 2022 to a substantial $53.37 billion by 2030.
Key players driving this flourishing market include The Queen’s Flowers Corp, Selecta Cut Flowers SAU, Sher Holland BV, Multiflora Corp, Rosebud Ltd, Karen Roses Ltd, Washington Bulb Co Inc, Dummen Orange Holding BV, Esmeralda Farms LLC, and Marginpar BV. These industry leaders are actively pursuing strategies such as investments in research and development, as well as new product launches. An exemplary case of such dedication to innovation is demonstrated by the strategic alliance formed between Selecta One and Moraglia Breeding in January 2022, enhancing their logistics capabilities and expertise.
Europe currently holds the largest share of the cut flowers market as of 2022, but North America is expected to outpace with the highest CAGR from 2022 to 2030. The North American market is home to several domestic and international players, including Washington Bulb Co., Inc., Oserian, and Dümmen Orange, which are tirelessly working to enhance the characteristics and qualities of cut flowers, attracting new consumers and expanding their customer base. Special occasions like Valentine’s Day, Mother’s Day, Christmas, and Easter fuel a significant portion of the cut flowers demand, with floral gifts serving as an expression of love and celebration. According to the Society of American Florists, flowers accounted for 26% of total spending on Mother’s Day gifts in the U.S. The wedding and event industry also contributes to the demand for cut flowers, with couples and event planners using these blooms in decorations, bouquets, and centerpieces. In 2022, the average expenditure on wedding flowers amounted to $2,400, as per the Knot Real Wedding Study.
Beyond their use as gifts, cut flowers are increasingly recognized for their medicinal properties, which contribute to improved mental well-being. Their vibrant colors and fragrances have been shown to reduce stress, anxiety, and depression, ultimately leading to a happier and more relaxed state. Studies, including one conducted by Harvard Medical School, reveal that having flowers at home results in lower cortisol levels, reducing stress and enhancing overall mental health.
The rising prevalence of e-commerce platforms for flower delivery is set to provide a significant growth avenue for the cut flowers market in the foreseeable future. E-commerce has witnessed an upsurge in flower sales, and online platforms offer a convenient shopping experience, a wide variety of cut flowers, discounts, and customization for gifting purposes. This trend is not only transforming the market but also providing valuable insights into consumer interests and demands. Retailers are capitalizing on this by offering diverse cut flower options, new designs, and marketing campaigns through social media platforms, which afford them the advantages of targeting specific customer segments, broad reach, adaptability, and cost-effectiveness.
Segment-wise, the cut flowers market is categorized into supermarkets and hypermarkets, specialty stores, online retail, and others. The online retail segment is expected to achieve the highest CAGR from 2022 to 2030, driven by the convenience it offers to consumers.
As the global cut flowers market blooms and evolves, it continues to be a focal point for innovation and expansion, propelling the industry to new heights.
