GLOBAL ARTIFICIAL FLOWER MARKET IS ESTIMATED TO REACH USD 3.86 BILION BY 2033: SPER MARKET RESEARCH
Artificial flowers are composed of a variety of materials such as paper, clay, plastic, polyester, nylon, and silk. Artificial plants and flowers give beauty to spaces and provide an aesthetic appearance for an extended period of time. Artificial flowers are becoming more and more popular as a low-maintenance, adaptable substitute for real flowers that appeal to a broad spectrum of customers. These flowers, which are perfect for home decor, events, and floral arrangements, are made from a variety of materials like silk, plastic, and latex. They can even closely resemble the appearance and texture of genuine flowers. Furthermore, artificial flowers are becoming more and more popular due to the increased focus on sustainability and the fact that they help cut down on the waste that comes with making traditional floral arrangements.
According to SPER Market Research, ‘Artificial Flowers Market Size- By Material, By Application, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the Global Artificial Flowers Market is estimated to reach USD 3.86 billion by 2033 with a CAGR of 5.22%.
Drivers:
The growing demand for products as gifts and the growing requirement for interior and outdoor decorations by consumers will drive market expansion. Because they require little upkeep and are readily available, fake flowers are being utilized more and more in homes, hospitals, businesses, hotels, and cafes. The expanding trend of interior design and home decor brought on by rising consumer disposable income and higher standards of living is also anticipated to drive demand for fake flowers in the upcoming years. Macro factors include rising consumer knowledge of environmental problems like deforestation and carbon footprint may lead to a demand among eco-conscious customers for sustainable alternatives, including artificial flowers.
Restraints:
Artificial flower market development is hampered by rising consumer awareness of environmental protection, plastic pollution, and government regulations pertaining to plastic flowers. For example, in an effort to reduce plastic pollution and encourage the manufacture and use of real flowers in the home economy, the Ministry of Forest and Environment of the Government of Nepal banned the importation and manufacturing of artificial plastic flowers. Plastic flowers can be hazardous to one’s health, harm the environment, and are not biodegradable. Global patterns in consumer product acceptance are adversely affected by these variables. Furthermore, the market for their synthetic equivalents is hampered by consumers’ quickly shifting preferences for eco-friendly and sustainable products.
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Impact of COVID-19 on Global Artificial Flowers Market
The COVID-19 pandemic has had a significant impact on the fake flower and plant sector. As individuals looked for straightforward and durable design solutions for their homes, demand for artificial greenery surged as supply chain delays and lockdowns damaged traditional supply lines. In the midst of the uncertainty, the market saw an increase in online sales and a growing trend toward long-lasting, low-maintenance options. The pandemic brought to light the market’s adaptability as consumers changed their purchasing behaviours, choosing goods that offered visual appeal and consistency in the midst of world unrest.
Global Artificial Flowers Market Key Players:
Global artificial flower market is dominated by the Asia-Pacific due to cost-effective production capabilities. Major players in the market are Diane James Designs, Inc., Dongguan Fusheng Arts Products Co., Ltd., Floral Home Décor, Foshan Tongxin Artificial Flowers Co., Ltd., and J. S. Flower Company Limited.
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Artificial Flowers Market Growth
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