IMARC Group’s report titled “Indian Floriculture Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028″. The Indian floriculture market size reached INR 231.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach INR 460.6 Billion by 2028, exhibiting a growth rate (CAGR) of 13.1% during 2023-2028.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/flower-floriculture-industry-india/requestsample
Factors Affecting the Growth of the Indian Floriculture Industry:
- Technological Advancements:
Technological innovations in precision agriculture are enabling growers to optimize resource utilization in India. This includes the precise application of water, nutrients, and pesticides, leading to higher crop yields and better-quality flowers. The adoption of greenhouse technology allows for controlled environments, protecting crops from adverse weather conditions and pests. This results in year-round cultivation and improved flower quality. Drip irrigation systems are becoming popular in floriculture. They provide efficient water management, reducing wastage and ensuring consistent moisture levels for the plants.
- Changing Consumer Preferences:
Consumers in India are increasingly seeking a wider variety of flowers, including exotic and unconventional blooms. This shift in preference is encouraging growers to diversify their flower offerings to cater to a more discerning market. Flowers are no longer just seen as traditional gifts or decorations, they are now valued for their aesthetic and emotional appeal. Consumers appreciate the beauty and symbolism of different flowers, leading to increased demand for diverse floral arrangements. Customization and personalization are becoming important to consumers. They desire flower arrangements tailored as per specific occasions, themes, or individual preferences.
- Government Initiatives:
Government in India is providing financial support in the form of subsidies, grants, and loans to encourage farmers and entrepreneurs to invest in floriculture. This financial assistance is making it more feasible for individuals to enter and expand their operations in the sector. Government-funded research and development (R&D) programs are focusing on improving flower varieties, cultivation techniques, and pest management. This is resulting in higher-quality flowers and increased yields for growers.
Indian Floriculture Market Report Segmentation:
By Flower Type:
- Cut Flowers
- Loose Flowers
Loose flowers represented the largest segment due to their versatility and rising utilization in various cultural, religious, and celebratory occasions.
By Retail vs Institutional:
- Retail
- Institutional
Retail accounted for the largest market share as it caters to individual consumers who purchase flowers for personal use, events, and gifting.
By Distribution Channel:
- Unorganised Retail
- Florists
- Supermarkets and Hypermarkets
- Online
- Others
Unorganised retail exhibits clear dominance in the market driven by many traditional flower vendors and local markets operating in an unorganized manner.
By Application:
- Aesthetic and Decorative Applications
- Flavours and Fragrances
- Natural Colours
- Medicines
- Others
Aesthetic and decorative applications hold the biggest market share, which can be attributed to the increasing utilization of flowers for decoration, beautification, and ornamental purposes in various cultural and social events.
Regional Insights:
- Andhra Pradesh
Andhra Pradesh enjoys the leading position in the Indian floriculture market on account of its favorable climatic conditions, extensive flower cultivation, and presence of flower clusters like Guntur and Chittoor.
Indian Floriculture Market Trends:
Growers are increasingly diversifying their flower varieties to meet changing consumer preferences in India. This includes the cultivation of exotic and unique flower species to cater to a wider range of tastes.
Sustainability is a growing concern, leading to the adoption of eco-friendly cultivation practices, reduced chemical usage, and the promotion of organic flowers to meet the demand for environment conscious consumers in the country.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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