Floriculture Market to Grow Over $15 Billion Amid Pandemic Spread

Technavio Floral December 24, 2020

LONDON– The new floriculture market research report from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.

“One of the primary growth drivers for this market is the increase in online flower sales,” says a senior analyst for the Industrials industry at Technavio. As the markets recover, Technavio expects the floriculture market size to grow by USD 15.20 billion during the period 2020-2024.

Floriculture Market Segment Highlights for 2020

  • The floriculture market is expected to post a year-over-year growth rate of -11.96%.
  • Based on the product, the cut flowers segment led the market in 2019. The growth of the segment can be attributed to the increasing gifting culture and rising urban population.
  • The market growth in the segment will be significant over the forecast period.

To read the rest of the story, please go to: Technavio

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