LONDON – Technavio has been monitoring the flower and ornamental plants market and it is poised to grow by $ 28.98 bn during 2020-2024, progressing at a CAGR of 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 1-800-FLOWERS.COM Inc., Astra Fund Holland BV, Ball Horticultural Co., Dutch Flower Group, Farplants Sales Ltd., FTD LLC, Kurt Weiss Greenhouses Inc., Monrovia Nursery Co., Royal FloraHolland, and Sakata Seed Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The use of flowers and plants for decorative & aesthetic purposes has been instrumental in driving the growth of the market. However, the use of toxic chemicals might hamper market growth.
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