Global Indoor Plants Market - 2022-2029

Global Indoor Plants Market - 2022-2029

Market Overview

Indoor plants are an ornamental plant that is grown indoors and also known as pot plant and potted plant. House plants or indoor plants are obtained either by collecting wild specimens of plants, or by growing them in greenhouses or nurseries. The wild collection of plants for the houseplant trade is a major threat to many species, especially plants with limited native ranges. Indoor plants are a great option for those who have little yard space for an outdoor garden or for those who live in climates with severely cold winters and along with this indoor plant are popular because they are relatively easy to take care of, provide health benefits and can be used in a variety of indoor décor themes. The growing popularity of the indoor plants as a decorative element is expected to drive market growth.

The global indoor plants market was valued at USD YY million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of 4.94% during the forecast period (2022-2029).

Market Dynamics: Increasing popularity of indoor plants as interior decoration drives the market growth

The growing popularity of the indoor plants as a decorative element with various colors including white, pink, and violet has driven the growth of the market. For the purpose of bathroom decoration indoor plants are used that tolerates low light and thrive in tricky areas. Indoor plants make versatile decorating ideas and are used by interior designers as living forms of art which are available in host of shapes, forms, colors and textures, from large leafy palms to small shapely cacti, not forgetting flowering varieties. Moreover, indoor plants pops of vibrant color, plants with sculptural, organic forms are a fabulous antidote to the strong architectural lines of contemporary partition shelves. The indoor plants have many health benefits as well such roots and soil of houseplants reduced airborne volatile organic compounds (VOCs) significantly improving the air quality in a sealed spacecraft.

Market Segmentation: Hydrophonics plants segment accounted for the highest share in global indoor plants market

The hydroponics plants segment accounted for a dominant share in the market over the forecast period and it includes lettuce, spinach, strawberries, bell peppers, herbs. Basils are one of the best hydroponics plants as it has lots of health benefits. Basils are rich in vitamin A, vitamin K, vitamin C, magnesium, iron, potassium, and calcium due to which they are used in a variety of culinary preparations. In addition to the flavor, the culinary herb is said to preserve and enhance the properties of the food. Basil is extremely rich in many vitamins, nutrients and minerals that are necessary for the human body to function at its best due to which it treats fever, common cold, stress, purifying the blood, reducing blood glucose, risk of heart attacks and cholesterol level. Sweet basil is an excellent source of antioxidants such as phenolic compounds and polyphenols due to which it is used in tea leaves as it can act as an antioxidant and help the body get rid of free radicals. In addition, basils are used for stomach spasms, loss of appetite, intestinal gas, kidney conditions, fluid retention, head colds, warts, and worm infections and having endless miraculous and medicinal values, organic basil is one of the best medicinal herbs to have been discovered. Also known as the holy basil, it functions as an adaptogen, enhancing the body’s natural response to physical and emotional stress.

Geographical Penetration: North America is dominating region during the forecast period

North America is projected to be the dominating region due to the rising awareness among people regarding a healthy lifestyle and food products is further expected to contribute positively to the indoor plants market growth in the countries such as the United States and Canada. According to Ipsos, retail Performance, the number of Americans turning plant-based has reached 9.7 million people, growing from around 290,000 over a period of 15 years. In the United States, basil is grown commercially in western and southern states where the climate is favorable including Arizona, California, Florida, New Mexico, and North Carolina. Production statistics for basil are not tracked individually, but they are included in the larger ‘herb’ category. Mexico is a larger exporter of basil to the United States. Depression is one of the most serious global public health issues, affecting every country on the planet. Depression in adulthood is a major risk factor for poor health and premature death, including cardiovascular disease, several common cancers, diabetes, and osteoarthritis. Obesity and overweight rates in children and adults continue to rise in countries such as Canada, Mexico. Owing to which the consumption of indoor plants has increased as it contains certain health benefits.

Competitive Landscape

There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Some major key players are Syngenta, Beekenkamp Group, Dummen Group, Hofland Flowing Plants, SAKATA, Dutch Flower Group, Marginpar BV, Double H Nurseries Ltd., Selecta Klemm, KP Holland, among others. Some of the major key players invested in expanding their business. In 2021, Brightfarms opened its latest indoor farm in Hendersonville, North Carolina and is focused on expanding their production base and actively involved in the installation of new indoor farming systems. Bright Farms expanded its construction division in 2019 by opening three new sustainable greenhouse farms in Massachusetts, New York, and North Carolina.In 2021, Bowery stated that the funds would be used to expand its network of smart indoor farms across the United States a vertical farming startup based in New York City, announced a USD 300 million Series C round of funding.

COVID-19 Impact Positive impact on the global indoor plants market

During the COVID-19 pandemic, most people worked from home, and due to government restrictions, export and imports were disrupted. Indoor plants are considered to be natural air filters as they can purify air through different methods: absorption, dilution, precipitation, and filtration and used as an efficient cleaning system for the environment in a process known as Phytoremediation, which can be done through various techniques in which plants clear the environment from pollutants. People used to stay in home during the COVID-19 pandemic owing to the lockdowns due to which indoor gardening also increased. Some of the other reasons which led to increase in sales of indoor plants during the pandemic. Consumer desire to stock up in case of shortages enabled consumers to limit the number of trips to the grocery store and consumers’ belief that indoor plants are safer than fresh items. Also, the demand for home-prepared meals increased. Consumers turned to online shopping for indoor plants.

The global indoor plants market report would provide an access to approximately 61 market data tables, 57 figures and 170 pages