Indian Floriculture Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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.

Floriculture also known as flower farming refers to the cultivation of flowering and ornamental plants. Although flowers have been an integral part of the Indian society and were cultivated for various purposes ranging from aesthetic to social and religious purposes, the commercial floriculture industry has been of recent origin. A strong increase in the demand for cut and loose flowers has made floriculture as one of the important commercial trades in Indian agriculture.

While exports remain a key motivator for cultivators, the domestic demand for flowers is also increasing exponentially, especially in the metros and larger cities. Modernization and growing western cultural influences have driven consumers to buy flowers on a number of occasions like valentine’s day, marriages, anniversaries, birthdays, friendship day, Mother’s Day, Father’s Day etc. Large scale consumption of flowers is also carried out throughout the country during religious festivals.

The metros and the larger Indian cities currently represent major consumers of flowers in the country. As a result of increasing urbanization and influence of western cultures, “saying it with flowers” is becoming quite popular on a number of occasions such as Valentine’s Day, birthdays, festivals, anniversaries, marriages, farewell parties, religious ceremonies, etc. We expect the consumption of flowers to increase further as trends of urbanization and influence of western culture is expected to increase further in the coming years.

Apart from aesthetic and decorative purposes, a significant amount of flower consumption also takes place in industrial applications. This includes flavors and fragrances, natural color, medicines, etc. We expect the consumption of these products to increase continuously during the forecast period creating a positive impact on the floriculture industry.

Key Market Segmentation:
MARC Group provides an analysis of the key trends in each sub-segment of the Indian floriculture market report, along with forecasts at the country and state level from 2023-2028. Our report has categorized the market based on flower type, retail vs institutional, distribution channel and application.

Breakup by Flower Type:

Cut Flowers
Loose Flowers

Based on the flower type, the market has been segmented as cut and loose flowers.

Breakup by Retail Vs Institutional:

Retail
Institutional

On the basis of sector, the market has been segmented as retail vs institutional sectors.

Breakup by Distribution Channel:

Unorganised Retail
Florists
Supermarkets and Hypermarkets
Online
Others

On the basis of distribution channel, the market has been segmented as unorganised retail, supermarkets and hypermarkets, florists, online and others. Unorganised retail currently accounts for the highest share of the market.

Breakup by Application:

Aesthetic and Decorative Applications
Flavours and Fragrances
Natural Colours
Medicines
Others

On the basis of application, aesthetic and decorative applications currently account for the highest share. Other applications include flavours and fragrances, natural colours, medicines and others.

Breakup by State:

The regional segmentation of the market has been provided both in terms of production and consumption. Andhra Pradesh is currently the largest producer of flowers in India.

Competitive Landscape:
The competitive landscape of the market has also been examined in the report and the profiles of key players have also been provided.

This report provides a deep insight into the Indian floriculture market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Indian floriculture market in any manner.

Key Questions Answered in This Report:
How has the Indian floriculture market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the Indian floriculture market?
What are the key flower types in the Indian floriculture market?
What is the market breakup by retail and institutional sector in the Indian floriculture market?
What are major distribution channels in the Indian floriculture market?
What are the major application segments in the Indian floriculture industry?
Which are the major states in the Indian floriculture industry?
What is the share of various states in the Indian floriculture market?
What are the various stages in the value chain of the Indian floriculture market?
What are the key driving factors and challenges in the Indian floriculture market?
What is the structure of the Indian floriculture market and who are the key players?
What is the degree of competition in the Indian floriculture market?