LONDON--(BUSINESS WIRE)--The global floriculture market 2018-2022 is expected to post a CAGR of close to 6% during the forecast period, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increase in online flower sales. Flowers are being increasingly sold online as compared with stores or conventional florist shops. Millennials are the main buyers of flowers online. As a result, online shopping of flowers is expected to increase during the forecast period. Also, the increase in internet and smartphone penetration drives the sales of flowers through online portals.
This market research report on the global floriculture market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing use of biotechnology for floriculture as one of the key emerging trends in the global floriculture market:
Global floriculture market: Increasing use of biotechnology for floriculture
In floriculture, biotechnology has been used for changing the color of flowers from their naturally occurring colors. This can increase the demand for uniquely colored flowers such as blue roses. The use of biotechnology can also help flowers to survive some extreme climatic conditions, reducing the risk for the growers.
“Monsanto is working on anti-aging technology for flowers. This technology can help prevent flowers from wilt and can help them last longer. Also, flowers with shorter lifespans are transported using air carriers from the country of production to the customer in a different country. This technology can reduce the dependence on the high costs of air freight by allowing flowers to be transported using a cheaper mode of transport like seaways.,” says a senior analyst at Technavio.
Global floriculture market: Segmentation analysis
This market research report segments the global floriculture market by product (cut flowers, bedding plants, potted plants, and others) and geographical regions (APAC, EMEA, and the Americas).
EMEA led the market in 2017 with a market share of more than 36%, followed by the Americas and APAC respectively. The dominance of EMEA can be attributed to the increase in online flower sales and cold storage technology allowing shipping by waterways.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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