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The Indian exotic flowers market is being driven by the growing floriculture industry in the region. A shift from traditional flowers to cut flowers by floriculturists to serve overseas markets is aiding the industry growth. According to estimates, the volume of cut flowers produced in India in 2016-2016 was nearly 0.69 million metric tons. The growing awareness among farmers regarding the adoption of newer technologies coupled with the rising government participation to strengthen the floriculture industry, further offering high yield variety of seed and pesticides, is expected to aid the growth of the exotic flowers industry in India. Unorganised sector dominates the industry contributing to nearly 85% of the sale of flowers on the road. However, the growth of the e-commerce and retail sector with the entry of international players like Amazon (NASDAQ: AMZN) in India is expected to provide various growth opportunities for the development of the organised sector in the region.
The increasing demand for cut flowers for personal use, decoration, occasions, birthdays, festivals, gifting purposes, and others are boosting the sales of exotic flowers in the region. The growing urbanisation and increased acceptance of technology in the region are resulting in more precise management in the field of commercial floriculture, thus, aiding the growth of the exotic flowers market. In April 2020, Ferns N Petals, one of the major players in the industry, announced that the company is planning to come out with its IPO, that is, the initial public offer in 2021. The company aims to expand its operations from solely flower, gifting, and wedding decor businesses to FMCG and hospitality sectors, further planning to establish a chain of wedding hotels in the region. Such developments are expected to aid the growth of the exotic flowers industry in India over the forecast period.
Market Breakup by Type, Variety, Sector, Distribution Channel, Major Indian Cut Flowers Producing States, and Major Loose Flowers Producing States:
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The major players in the Indian exotic flowers market are Karuturi Global, Elegant Flora, Soex Flora, Ferns n Petals, Phoolwala, Arena Flowers, and May Flower, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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