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Indoor plants, also known as houseplants, are grown indoors in offices and residences and are intended for decorative purposes. A wide variety of indoor plants is available in the market such as foliage plants, cactus plants, palm plants, and succulent plants. They have both physical and psychological health benefits. The growing awareness regarding the benefits of these plants, such as allergy relief, stress reduction, and air purification, augments product adoption.
Indoor plants are increasingly being considered an integral part of interior decoration and are increasingly employed to increase the aesthetic appeal of a place. The use of plants for interiors is also simple and attractive. Indoor plants are available at affordable prices worldwide and are usually marketed as ideal for any space in the house or office, given their versatility. The growing trend of interior decoration with plants is enhancing the growth of the global market. Furthermore, rising consumer disposable income and cost-effectiveness of indoor plants contribute significantly to industry expansion.
Indoor plants are also used to improve indoor air quality. They absorb toxins from the atmosphere and eliminate pollutants such as carbon monoxide, benzene, and formaldehyde. They also release water vapor, which increases humidity and lowers the temperature. Moreover, they help reduce stress & anxiety and increase focus and relaxation. In addition, the growing air pollution paired with increasing consumer purchasing power fuels the product demand worldwide.
The COVID-19 crisis has been increasing product demand across the globe. As a sizable number of individuals across countries are working from home amid the COVID-19 pandemic, they are increasingly focusing on improving their personal space. This factor has been contributing significantly to market expansion. However, indoor plants typically require high maintenance and regular care, notably in terms of trimming and watering. Additionally, issues associated with mold and bacteria growth due to limited access to airflow and sun hamper product sales.
The report will cover the following key insights:
Based on type, the low light plants segment accounts for the largest market share. Low light plants typically grow fast even without direct sunlight and can be placed in any corner of the house. Moreover, the availability of various types of low light plants, such as pothos plant, cast iron plant, spider plant, and snake plant, increases product adoption.
Based on end-user, the global market is segmented into residential and commercial. The residential segment is expected to hold a major market share during the forecast period. Indoor plants are extensively used in homes for decoration purposes or to improve the oxygen level. In addition, the growing trend of indoor gardening augments the growth of the residential segment.
Based on sales channel, the global market is segmented into online and offline. The offline segment is expected to hold a major market share throughout the forecast timeframe. Recent years have witnessed various instances of new nurseries worldwide. For instance, in February 2021, the government of Kerala announced that permanent nurseries will be set up in various districts under the supervision of the social forestry department.
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By geography, the global market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
North America accounts for the largest share of the global Indoor plants market. The rising awareness regarding various physical and psychological health benefits of indoor plants favors the regional market growth. Furthermore, the rising popularity of terrace gardening is increasing product adoption across the North America market.
Asia Pacific is likely to witness the fastest growth throughout the forecast period. The fastest growth of the Asia Pacific region is attributable to increasing air pollution and rising disposable income of consumers. The growing air pollution in metro cities, such as Delhi, Mumbai, Beijing, and Dhaka, fuels the product demand to improve indoor air quality. In addition, the growth in e-commerce platforms and the rising trend of interior decoration with plants are significantly increasing the adoption of these plants across the region.
The report includes the profiles of key players such as RollingNature, Rentokil Initial plc, Heart of Florida Greenhouses Inc., Star Gardens, Vertvista, THE BOUQS COMPANY, Subhiksha Organics, Sheel Biotech Limited, Green & Bloom, and Root Bridges.
By Sales Channel
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