Floriculture, the branch of horticulture focused on the growth and trade of ornamental and flowering plants, is a profitable global venture, thanks to the many uses of flowering plants and crop products.
From decor to raw materials for cosmetics and pharmaceuticals, there’s plenty of incentives for the sale of flowers like Thailand orchids wholesale, and, according to data from the International Trade Center (ITC), the industry has only been growing. Data from the organization says that the global floriculture exports managed to hit a total of US$4 billion back in 2012, a 24% increase from 2010.
A recent market report, submitted by the market research and consultancy firm Coherent Market Insights, on floriculture has predicted increased revenue for the global market. In particular, the report experts Asia Pacific to account for a large amount of that growth, good news for operators in the region like Thailand orchids wholesale retailers or India’s many floral farms. This is, the report says, thanks to some of the world’s largest floriculture providers like India and China being in the region.
For Europe, Netherlands is the largest player on the field, with data from the USDA Foreign Agricultural Service back in 2016 reporting that the country was the dominant floriculture exporter in the region, with 2015’s floriculture’s exports amounting to a total of 9 billion, with bulbs accounting for 1 billion of that. Increasing demand for cut flowers and other floriculture products in country like Germany and France is expected to drive the growth of the market in the region.
In terms of global dynamics, steady improvements and developments in plant biotechnology, like genome sequencing, have resulted not only in improved yields, both in terms of quality and quantity, but also genetically modified flowering plants, like the world’s first blue rose, developed in Japan by Suntroy Flowers Ltd.
Floriculture’s more precise management structure also means that the products per area of the industry is higher compared to other agricultural subfields. This higher profitability means that the market is constantly enticing new players in the field, which has led to the growth of the market. There’s also a growing demand for essential oils, which Coherent Market Insights expecting the consumption to grow from US$ 8.29 billion for 2016 to US$ 15.01 billion in 2025.