The latest market report published by Credence Research, Inc. “Global Floral Gifting Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The global Floral Gifting market is anticipated to grow at a substantial CAGR of 6.50% in the upcoming years. The global Floral Gifting industry was estimated to be worth USD 51.9 billion in 2022 and was expected to be worth USD 80.65 billion by 2030.
The floral gifting market refers to the industry involved in the production, distribution, and sale of flowers and related products for the purpose of gift-giving. It encompasses a wide range of businesses, including flower growers, florists, online flower delivery services, gift shops, and e-commerce platforms that specialize in selling floral arrangements and bouquets. It has always been popular and continues to thrive due to the timeless appeal of flowers as gifts for various occasions. Flowers are often associated with emotions such as love, appreciation, celebration, sympathy, and apology, making them a versatile and widely accepted gift choice.
North American region was projected to hold a major share of the global Floral Gifting market. The market for floral gifts in North America is expanding due to several factors, including increased consumer disposable income, rising desire for personalized and tailored floral arrangements, and rising popularity of online flower delivery services. The market for floral gifts in North America is anticipated to expand in the upcoming years. The market is expanding due to various factors, including the rising consumer disposable income, the popularity of online flower delivery services, and the increased desire for distinctive and customized floral arrangements.
The global Floral Gifting Market is bifurcated into Product, Application and Geography. Based on Product the market is categorized into Personal Gifting, Corporate & Others. Based on Application the market is categorized into Offline & Online. Based on geography, the market is categorized as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Floral Gifting Market Drivers are a complex and multi-faceted set of factors that drive the demand for floral gifts in today’s world. One of the most important drivers is the increasing popularity of online shopping, which has made it easier than ever before for consumers to purchase flowers and other gifts from anywhere in the world. Another key driver is changing social norms and expectations, as people increasingly use flowers as a way to express their feelings and emotions towards loved ones or colleagues. Additionally, advances in technology have allowed florists to create more sophisticated arrangements that can be customized to meet individual needs and preferences.
The global floral gifting market growth can be attributed to several factors:
- Cultural Significance: Flowers hold significant cultural and symbolic meanings in many societies worldwide. They are commonly used to express emotions and are often presented as gifts during birthdays, anniversaries, weddings, festivals, and other celebrations. This cultural practice drives a significant part of the floral gifting market.
- Rise of E-commerce: The increase in online flower delivery services has boosted the market growth by providing consumers with a convenient and efficient way to purchase and send flowers. Many online platforms offer same-day delivery and customization options, enhancing customer experience.
- Increase in Disposable Income: The rise in disposable income worldwide, particularly in emerging economies, has led to a growth in consumer spending on luxury items and gifts, including floral gifts.
- Urbanization and Changing Lifestyle: As urbanization progresses, there’s an increase in demand for home decoration and gardening products, including flowers. Similarly, changing lifestyle trends, such as a growing interest in gardening and DIY flower arrangements, also contribute to the growth.
- Corporate Gifting: Flowers are often used for corporate gifting purposes, such as during festive seasons, promotional events, or to appreciate employees and clients.
- Product Innovation: Many florists and companies are experimenting with different types of flowers, arrangements, packaging, and associated gifts (like chocolates or wine), providing more options to consumers and stimulating market growth.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Floral Gifting Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- In-depth analysis of the global market segmentation on the basis of Product and Application
- Major nations in each region with their import/export statistics
- The global Floral Gifting Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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