Floriculture Market Is Worth USD 1.49 Billion By 2023 Driven By International Expo And Insights

The global Floriculture Market is expected to bypass USD 1.49 billion by 2023 as the industry has turned more competitive, innovative and inclined towards sustainability. Plant breeding has become a global activity as environmental sustainability has become a pressing issue. Companies are now emphasizing on more sustainable solutions with waste reduction as one of the major goals for companies. Likewise, awareness campaigns in form of flower expos and exhibitions are now gaining much traction that is attracting a large crowd of amateur and professional breeders.

For instance, Ukraine is all set to witness flower expo in 8-10th April 2020 at the international exhibition centre (IEC). It will be organised under guidance of Flower of Council of Ukraine which results in gathering of attracting industry professionals from horticulture within and around Ukraine. The major highlights of the event comprise floristic exhibitions, significance of patio roses, importance of green farming in urban areas, maintenance of green landscape, and renovation and redevelopment strategies for alleys and old parks. Overall, Ukraine is a growing market for floriculture with a high growth rate as compared with Romania and Hungary. 

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In another event, CES 2020 revealed a few insights on how technology can boost floral produce and floral industries. Artificial Intelligence (AI) is inevitable for floriculture and the industry can benefit from the use of algorithm to take more business decisions. For instance, connected devices impart insightful for water usage, help in minimizing waste and enhancing soil health. Secondly, issues pertaining to authenticity of floral products can be technologically tested. Thirdly, tech culture is resulting in high-end innovation and extremely experimental with floral industries for fresh floral produce. Agri-tech companies are emphasizing more on products that help in boosting the production of floral products. 

Drivers such as high purchase power and growing popularity of flower and plants is evident. High consumption of flowers and plants is a common trend witnessed across the worldwide market. Likewise, significant demand for tree products, shrubs and perennials is creating futuristic growth opportunities in the global scenario. Ornamental young plants have been constituting as an export product for developing countries in East Africa, Latin America and Middle-East. The consumption rate is mainly growing in the European and Asian market while a huge yet steady demand is witnessed across U.S. markets.

Some of the key players in the floriculture market are Arcangeli Giovanni & Figlio, Syngenta Flowers, Dummen Orange, Karuturi, Oserian, Finlays, Selecta One, Washington Bulb, Carzan Flowers, Multiflora, Rosebud, Kariki, Harvest Roses, Queens Group and Ball Horticultural.