The cut flowers market was valued at US$ 34,347.23 million in 2019 and is projected to reach US$ 49,074.09 million by 2028; it is expected to grow at a CAGR of 4.3% from 2020 to 2028.
Cut flowers refer to flowers or flower buds cut from the plant on which they are grown. They are usually taken out from plants for use in decorative purposes. Most of the gardeners harvest their own cut flowers in their gardens; however, most countries have a floral industry dedicated for cut flowers. The plants from which the cut flowers are cut, vary in climate, culture, and the level of wealth locally.
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The five main type of cut flowers available are rose, carnation, lilium, chrysanthemum, and gerbera. Cut flowers are the flower buds that have been cut from the plant and are ordinarily removed from the plant for decoration. The common uses of cut flowers are in vase displays, wreaths, and garlands. The cut flowers are harvested by several gardeners from domestic gardens. There is a notable floral industry for cut flowers in most countries.
Fresh cut flowers are used commonly for decoration such as vase arrangements and bouquets at formal events; designs for weddings and funerals; gifts on occasions such as in times of illness, or during holidays such as Christmas and Easter; corsages and boutonnieres; and informal displays to beautify homes and public places. They may be used in boutonnieres, corsages, wreaths, formal and informal displays, and similar ornamental articles. Interior designers and wedding planners make use of decorative flowers to enhance the beauty of their work. Beautiful flowers, with respect to the common perception which people possess, are often in more demand. Flowers like roses, sun flowers, and carnation are always in high demand in festivals. Companies such as Karen roses and Multiflora provide cut flowers for the purpose of decoration.
Impact of COVID-19 Pandemic on Cut Flowers Market
The COVID-19 outbreak, which began in Wuhan, China, during December 2019, has spread across the globe. As of April 2021, the US, India, Brazil, Russia, the UK, France, Spain, Italy, Turkey, Germany, Colombia, and Argentina are among the worst affected countries in terms of confirmed cases and reported deaths. The outbreak has affected economies and industries due to lockdowns, travel bans, and business shutdowns imposed by governments. Consumer goods, horticulture, and floriculture are among the world’s major industries suffering serious disruptions in the form of supply chain breaks as a result of this pandemic. The transport bans in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa has affected the global supply chain and negatively impacted the delivery schedules and sales of various goods.
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Some of the companies competing in the Cut Flowers Market are
Afriflora Sher; Washington Bulb Co., Inc.; Oserian; Dümmen Orange; The Queen’s Flowers; The Kariki Group; Selecta one; Karen Roses Company; MultiFlora; and Rosebud Limited are among the well-established players in the global cut flowers market.
Cut Flowers are used for medicinal purpose due to the various health benefits associated with them. For instance, chrysanthemum has properties that help in reducing blood pressure and cure dizziness and insomnia. Pot marigold is used as a remedy for inflamed skin. It also prevents the spread of infection. Purple corn flower helps in stimulating the immune system, which improves the body’s resistance against viral and bacterial infection. Lavender’s aroma calms down the nervous system, reduces muscle tension, and works as an antiseptic. Moreover, various fresh flower scents are considered as a remedy in case of insomnia, disturbed sleep patterns, and drowsiness. Rose tea acts as a mild laxative. A paste or cream made from the petals does wonders to improve the condition of the skin, especially the face. Consuming a brew made from sunflowers helps greatly with ulcers and menstrual cramps. It can also be used as a wash for gargling in cases of sore throats.
MARKET SEGMENTATION
Based on flower type, the cut flowers market is segmented into rose, carnation, lilium, chrysanthemum & gerbera, and others. The rose segment accounted for the largest share of the global market in 2019; whereas the others segment is expected to grow at the highest CAGR during the forecast period. Rose plants range in size from compact, miniature roses, to climbers that can reach seven meters in height. Different species hybridize easily, and this has been used in the development of the wide range of garden roses. Cultivation of rose cut flower is a profitable crop for farmers. Selection of the right variety of flowers is an important tool in commercial floriculture.
Based on application, the cut flowers market is segmented into home and commercial. The commercial segment accounted for the largest share of the market in 2019. In commercial space, cut flowers are mainly used at wedding events, birthday events, funerals, commercial offices, hotels, industrial, and institutions. Flowers are a good source of plant medicine. Cut flowers are also being used majorly for corporate events.
Based on distribution channel, the cut flowers market is segmented into supermarkets and hypermarkets, specialty store/florists, online retail, and others. The online retail segment is expected to grow at a highest CAGR during the forecast period of 2020–2028. The online portals have been beneficial in the growth and expansion of the cut flowers market in Europe. Increased use of mobile phones, computers, and laptops has helped in the growth of digital channels, with respect to strength and volume.
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