Asia- Pacific Cut Flowers Market Forecast to 2027 – COVID-19 Impact and Analysis- by Flower Type (Rose, Carnation, Lilium, Chrysanthemum and Gerbera, and Others), and Application (Home and Commercial)
Number of Pages: 64
Market Introduction
Cut flowers refers to flower or flower buds that is cut from the plant on which it is grown. It is usually taken out from plants for its use in decorative purposes. Most of the gardeners harvest their own cut flowers in their gardens but most of the 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. Mostly the plants for cut flowers are grown in separate fields or greenhouses. The cultivation of cut flower is intensive as it requires large amounts of highly toxic pesticides and residues. Thus, the E- commerce purchases of cut flower among consumers is expected to create a significant demand for cut flower in the coming years, which is further anticipated to drive the cut flower market.
Market Overview and Dynamics
The cut flower market in Asia- Pacific is expected to grow from US$ 6,566.96 million in 2019 to US$ 8,624.78 million by 2027; it is estimated to grow at a CAGR of 3.7% from 2020 to 2027. E-commerce purchases are on the rise, which can be an opportunity for the flower industry. The number of retailers (florists, large supermarkets and online specialists) selling flowers through the internet is increasing. The assortment of flowers that can be purchased online is also growing. The internet is the fastest growing market outlet in many Asian countries, although current market shares are typically below 10%. The online sales trend increases the importance of product uniformity, supply chain efficiency and information exchange standards. It is expected that online sales of cut flowers (both bouquets, mono-bunches and individual flowers) will further increase in the future. Internet sales often involve florists that collectively or individually produce the bouquets and flowers, or specialized bouquet producers. E-commerce will open the door to generate enthusiasm for and sales of flower-related gifts and purchases. It will also give supermarkets valuable information about consumer interest and demand. Targeting the new generation of e-commerce customers, online flower retailers keep their clients engaged with new designs and ideas. The cut flower companies are now using social media platforms to launch marketing campaigns because social media offers many benefits including targeting specific customer segments, wide reach, adaptability, and so on while being fairly inexpensive to use. This is bolstering the growth of the cut flower market.
The COVID-19 is anticipated to cause a loss of more than 3 Billion in the Asia Pacific region. The consequence and impact can be even worse and totally depends on the spread of the virus. The government of Asia Pacific is taking possible steps to reduce its effects by announcing lockdown, and thus, impact the revenue generated by the market. The Airports Council International (ACI) Asia-Pacific warned that the prolonged duration of the coronavirus (COVID-19) outbreak would drastically impact the region’s airports’ connectivity and economic sustainability, significantly restricting them from achieving previously forecasted growth prospects. Such closures are anticipated to negatively impact the supply of cut flowers market growth in the coming period.
Key Market Segments
In terms of flower type, the rose segment accounted for the largest share of the Asia- Pacific cut flowers market in 2019. Based on application, the cut flower market is divided into home, and commercial. Commercial is expected to be the fastest growing segment over the forecast period.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Cut Flower market in Asia- Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Washington Bulb Co., Inc., Oserian, Dümmen Orange, The Kariki Group, Selecta one, and MultiFlora among others.
Reasons to buy report
- Understand the Asia- Pacific cut flower market landscape and identify market segments that are likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive market landscape in Asia- Pacific
- Efficiently plan mergers and acquisitions, and partnership deals in the Asia- Pacific cut flower market by identifying market segments with the most promising probable sales
- Take knowledgeable business decisions from perceptive and comprehensive analysis of performance of various market segments
- Obtain revenue forecast for market based on various segments for the period 2020-2027
Asia- Pacific Cut Flower Market Segmentation
Asia- Pacific Cut Flowers Market- by Flower Type
- Rose
- Carnation
- Lilium
- Chrysanthemum and Gerbera
- Others
Asia- Pacific Cut Flower Market- by Application
- Home
- Commercial
Asia- Pacific Cut Flower Market- by Country
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia- Pacific
Company Profiles
- Oserian
- Dümmen Orange
- The Kariki Group
- Selecta one
- MultiFlora