Transparency Market Research delivers key insights on the global preserved flower market. In terms of revenue, the global preserved flower market is estimated to expand at a CAGR of ~5% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global preserved flower market.
Companies are expanding their range of preserved flowers and launching special flowers for special occasions. Manufacturers are also increasing their partnerships with different international and local distributors to have a better reach in every region. Some players provide additional services such as workshops, door-to-door delivery, and decoration services to capture more consumers.
Preserved Flower Market: Key Segments
In terms of flower type, the rose segment is expected to hold a major market share. In general, the demand for fresh roses is high. The demand for preserved roses is increasing due to its beauty and significance during different occasions. Ecuador roses have huge demand in the market, as they are unique and beautiful. Manufacturers are also investing considerably to produce different colors of roses. This is expected to increase market attractiveness of preserved roses globally during the forecast period.
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Based on preserving technique, the air drying segment held a major market share in 2020, as it is one of the easiest ways of preserving flowers. Manufacturers are able to produce more using this method, and the cost of flowers preserved using the technique is low compared to other techniques.
In terms of application, the unique gifts segment holds major share globally, as gifting flowers is one of the oldest customs in many countries. People have started gifting preserved flowers instead of gifting fresh flowers, as preserved flowers are long lasting and are low maintenance. Alongside, preserved flowers can be used to make many unique gifts. Thus, manufacturers and distributors are finding new ways to use preserved flowers.
In terms of price, the low price segment held a major share of the market in 2020. The concept of preserved flowers is new in many developing regions and consumers in these regions prefer to purchase flowers, which are less expensive. In developed regions as well, consumers prefer purchasing flowers, which are priced low. However, consumers are ready to pay a little extra for flowers that are in high demand.
In terms of distribution channel, the online channel is expected to be the most attractive segment during the forecast period due to people preferring online shopping. Online channels also provide consumers a wide range of flowers with different price ranges at one click.
Preserved Flower Market: Prominent Regions
The global preserved flower market has been divided into North America (U.S., Canada, and Rest of North America), Europe (U.K., Germany, France, and Rest of Europe), Asia Pacific (China, Japan, India, and Rest of Asia Pacific), Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa), and South America (Ecuador and Rest of South America). The global preserved flower market is dominated by North America and Europe. Consumers in North America and Europe are gradually understanding the benefits of preserved flowers, which is likely to increase their demand during the forecast period.
North America is projected to hold the largest share of the global preserved flower market. In the region, the U.S. held a major share of the market in 2020. Despite holding major market share, the country is expected to witness slower growth rate as compared to Canada during the forecast period.
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Asia Pacific is likely to witness the highest growth during the forecast period. The expansion of the preserved flower market in emerging economies such as India and China due to rising income and changing consumer preference toward eCommerce is driving the business of preserved flowers manufacturers, which, in turn, is boosting the market.
Preserved Flower Market: Key Players
Key players operating in the global preserved flower market are Verdissimo, Beijing Sweetie-Gifts Co., Ltd., RoseAmore, Florever. Co., Ltd., Verdi UK Ltd, C'lovercraft Workshop, Excellent Flowers, Phocealys, Ohchi Nursery Ltd., and Iluba Roses, among others.
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