US Floriculture Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)
The United States Floriculture Market size is expected to grow from USD 49.02 billion in 2023 to USD 66.66 billion by 2028, at a CAGR of 6.34% during the forecast period (2023-2028). Key Highlights.
New York, Aug. 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "US Floriculture Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" - https://www.reportlinker.com/p06484087/?utm_source=GNW
The United States Floriculture Market size is expected to grow from USD 49.02 billion in 2023 to USD 66.66 billion by 2028, at a CAGR of 6.34% during the forecast period (2023-2028).
*Key Highlights*
According to the United States Department of Agriculture statistics, in terms of value, the states with higher floriculture sales were Florida, California, Michigan, New Jersey, Ohio, Texas, North Carolina, Pennsylvania, New York, and Connecticut. Florida had the biggest sales of USD 1.12 billion among the ten largest states in 2021, followed by California, which had sales of USD 962 million. These two states combined accounted for roughly one-third of all sales in the United States. Further, May is one of the most popular months for gifting and gardening with flowers, and Pennsylvania, California, Florida, New York, Michigan, Ohio, Wisconsin, Washington, New Jersey, and Oregon are the top ten states in the United States in terms of floriculture activity.
Many regional companies, such as Costa Farms, the Sill, Zolfo Springs, and Bloomscape, are venturing into the cultivation of indoor plants, considering the competitive advantage of changing consumer preferences for houseplants. In addition, online auction of flowers has been gaining traction with the emerging online delivery retailers attracting a host of consumers with ease of accessibility, such as ProFlowers, The Bouqs Company, UrbanStems Inc., and 1-800-Flowers, among others which are driving the market.
US Floriculture Market Trends
Booming Cultural Preference For Gifting Flowers
In the United States, flowers are purchased for various reasons, ranging from expressions of love or sympathy to satisfying environmental and beautification goals. The expenditure choice of purchase is closely tied to the demographic and occasions or periods. For instance, the winter holidays, Christmas and Hanukkah, account for the highest amount of all the holiday flower sales (30%), followed by Valentine’s Day and Mother’s Day, each accounting for a market share of 20% and 24% of all holiday flower sales.
The United States consumers believe in gifting flowers on special occasions to communicate their deepest feelings most elegantly. For instance, in 2021, approximately 75% of people celebrating Mother’s day planned to buy flowers as gifts, according to the National Retail Federation, United States.
Consumers, especially millennials, value uniqueness and authenticity in the product they purchase. To keep in line with this interest, many florist stores offer customized flower colors, packaging, creatively themed arrangements, prices, delivery services, and bring-your-own-vase/container options to attract the millennial population in the country.
According to a survey by the Society of American Florists, 65% of the customers in the United States like to receive flowers, and 60% of the customers believe a gift containing flowers offers a special meaning, unlike any other gift. Cut flowers, such as tulips, lilies, pansies, and roses, are some of the most preferred flowers by US consumers.
Thus, the growing preference of consumers for flowers as the most popular gifting choice and the rapid innovation in terms of packaging and customization from the florists to cater to the consumer’s interest are the factors expected to drive the growth of the US floriculture market.
Cut Flowers Growing at a Rapid Rate
There is a growing demand for fresh-cut flowers in the United States. Apart from its domestic production, the country imports 80% of the cut flowers from other countries. To meet this demand, superior quality flowers are required at the distribution and consumer levels. Among the cut flowers, the lilies sector is the largest and fastest-growing market.
In 2019, the Lilies segment accounted for 17.1% of the cut flowers segment in the US floriculture market. California, Colorado, and Illinois are significant states for the production of Lilies in the country. California is the major producer compared to the other states, with 100% of the quantity sold at the wholesale level. Around 66.7 million stems were sold, and the wholesale value of domestically produced cut flowers was USD 68.0 million.
Colombia is the largest exporter of lilies to the United States, followed by Costa Rica and Ecuador. The import of lilies into the country is increasing as the demand rises. Based on ITC TradeMap, the total import value of lilies in 2017 was USD 58.68 million, which increased to USD 67.16 million in 2020.
US Floriculture Industry Overview
*Additional Benefits:*
The market estimate (ME) sheet in Excel format
3 months of analyst support
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