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Artificial flowers are commonly used for the home & garden decoration purposes. People largely prefer to use artificial flowers over natural ones as they are long-lasting and are easily available in different colors and textures. Professional consumers such as gardens, hotels, and others largely seek to purchase fire retardant and weather resistant fake flowers for decoration purposes.
Nowadays, companies are keenly focusing on providing other decorative products such as artificial turfs, plants, and others together with artificial flowers to provide a complete home gardening solution to domestic consumers. The wide availability of the various manual & semi-automatic equipment of flower making has essentially supported the overall artificial flower business.
The growing trend of indoor & outdoor decoration across the globe is largely driving the demand for such products. Additionally, rising gift-giving trends among the people in the various meet-ups and events across the globe have skyrocketed the growth of the market. Fake flowers are widely used in the display of merchandise at the various retail stores & supermarkets. Therefore, the presence of large infrastructural facilities related to convenience stores and supermarkets across the globe is strongly supporting the demand for such products. According to the data presented by the Association of Convenience Stores, as of 2019, there is 46,388 number of convenience stores in the mainland U.K.
Additionally, rising festival celebration trends has given newer opportunities for the growth of the market. Increasing on-demand video consumption related to the various ‘Do It Yourself (DIY)’ paper crafting activities is likely to drive demand for such products.
However, governmental regulations regarding the usage of the plastic-based flowers are anticipated to restrain market growth. Additionally, huge competition from the local industry players is expected to hamper the business growth of prominent companies.
Key Market Driver -
Rising indoor & outdoor decoration trends are expected to drive market growth
Key Market Restraint -
Governmental regulations regarding the usage of the flowers made up of plastic material is anticipated to restrain market growth
The key players involved in the global artificial flowers market are, Orient Fine Art Co. Ltd., kusal.com, TOPFLORAL, FRS Holding, Commercial Silk Int’l & Plantscape Inc., Diane James Designs, Inc., Fusheng Arts Products Co. Ltd., Silf Flower Decoflora, TH Artificial Flower Manufacturers, Fantastic Florals Inc., and others.
The global artificial flower market is segmented based on material, application, distribution channel, and geography.
Based on material, the global market is segmented into polyester, paper, nylon, silk, and others. The polyester segment is expected to hold a major share of the market as it can easily be wrapped and sized in different shapes as per the need during the production process. Additionally, the wide availability of the multi-colored flowers under such a segment results in the large segmental growth.
By application, the global market is segmented into, residential and commercial. The commercial segment is expected to hold a significant share of the market owing to the large consumption of the artificial flowers at various places such as hotels & restaurants, public or private gardens, seminar hall, and others for their decoration needs.
Based on the distribution channel, the global market is segmented into hypermarkets & supermarkets, specialty stores, online stores, and others. Hypermarkets & supermarkets segment is anticipated to showcase a significant share of the market owing to the availability of the different kinds of decorative items such as lightings, photo frames, artificial flowers & plants, and others at a single place in these stores. Additionally, consumers largely seek to purchase such products from these stores as they are more likely to get various discounts & coupons at such stores.
By geography, the global artificial flower market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
The European region is expected to dominate the overall artificial flower market owing to the large import value of the artificial flowers in countries such as Switzerland, the U.K., and Spain which results in the large consumption of such products in the region. According to the data presented by the European Union, the import value of the artificial flowers in Switzerland reached nearly USD 1,33,736 in 2019. Additionally, the presence of a higher-income group of population in the region coupled with the rising festival celebration trends in the region is likely to support the further growth of the market in the region.
Asia Pacific region is expected to grow at a faster rate owing to the availability of a large number of hotel rooms & auditoriums in the countries such as India, and China which is likely to support the demand for business meet-ups & sympathy flowers bouquets in the region. According to the data presented by the LEVENEMENT Organisation, in 2018, China accounted for nearly 59% of the total Asia Pacific’s new hotels. Additionally, rising home and lawn decoration trends in countries such as China, and India is largely supporting the demand for such products in the region.
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