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Indian Exotic Flowers Market to be Aided by the Expected Growth in the Indian Floriculture Market, Growing at a CAGR of 19.5% over the Forecast Period of 2022-2027.

According to a new report by EMR titled, ‘Indian Exotic Flowers Report and Forecast 2022-2027’, the Indian exotic flowers market is being driven by the growing Indian floriculture market, which stood at a value of around INR 187.6 billion in 2020. The Indian floriculture market is further expected to grow at a CAGR of 19.5% between 2022 and 2027 to attain a value of INR 546.4 billion by 2026.

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:

  • On the basis of types, the Indian exotic flowers market can be divided into loose flowers and cut flowers.
  • The industry, based on variety, is categorised into lotus, hibiscus, tulips, lavender, orchids, carnations, lily, and daffodils, among others.
  • On the basis of sector, the industry is divided into organised and unorganised sector.
  • By distribution channel, the industry is segmented into unorganised retail, florist, supermarket/hypermarket, and online, among others.
  • The Indian cut flowers producing states include West Bengal, Karnataka, Orissa, Uttar Pradesh, and Maharashtra, among others.
  • The major loose flowers producing regions in India include Tamil Nadu, Karnataka, Madhya Pradesh, Mizoram, and Gujarat, among others.

Key Findings of the Report:

  • The Indian exotic flowers market is being supported by the growing religious market in the region.
  • The increasing population, growing consumer disposable incomes, and rising awareness in the region are providing further impetus to the industry for its growth.
  • The growing decoration and gifting industries in the region are further driving the growth of Indian exotic flowers market.
  • Improving infrastructure and warehouse facilities in the region, coupled with the growing demand for natural products, is providing a further boost to the industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the Indian exotic flowers market for the periods (2017-2021) and (2022-2027).
  • The report offers historical (2017-2021) and forecast (2022-2027) market information for the type, variety, sector, distribution channel, major cut flowers producing states, and major loose flowers producing states in the Indian exotic flowers market.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the Indian exotic flowers market are Ferns N Petals, Phoolwala, ArenaFlowers, May Flower, Elegant Floriculture & Agrotech (I) Limited, and Soex Flora, 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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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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