Vietnam Floriculture Market size is set to grow by USD 245.39 mn from 2024-2028, use of flowers and plants for decorative/aesthetic purposes boost the market- Technavio

NEW YORK, March 27, 2024 /PRNewswire/ -- The global Floriculture Market in Vietnam  size is estimated to grow by USD 245.39 mn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  8.36%  during the forecast period.  In Vietnam, floriculture holds cultural significance for various occasions, including weddings and funerals. Commonly used flowers include roses, tulips, lilies, and jasmine. Sustainable practices, biotechnology, and modern technology are employed in cultivation. Exporters like Anthura and foreign firms utilize free-trade agreements and air cargo freight to supply fresh cut flowers to global markets, including the European Union. Prices and cultivation measures are influenced by agro-climatic conditions and imports from regions like Lam Dong province and river deltas. Monsanto and other investors contribute to the industry's growth through advanced technology and practices. Key players include Seaways, Comtrade data, and the Australian Embassy. 

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Segment Overview 

This floriculture market in Vietnam report extensively covers market segmentation by Product (Cut flowers, Bedding plants, Potted plants, Others) Application (Conferences and activities, Gifts, Personal and corporate use) Type (Rose, Chrysanthemum, Carnation, Others) Geography (APAC)

Market segmentation by Product

The Floriculture Market in Vietnam experiences significant growth due to the increasing demand for Flowering plants and Ornamental plants in various sectors. Horticulture plays a crucial role in this industry, with applications ranging from Conferences and Activities, where Willow shoots, Lavender, and Woody ornamentals are commonly used, to the Pharmaceutical industry for medicinal flowers and Art installations. Market analysis reports indicate that countries like Vietnam, known for their rich biodiversity, hold immense potential in this sector. The market is driven by Wedding activities, with Roses, Tulips, Hydrangeas, Orchids, and Gardenias being popular choices. Sustainable agricultural practices, Biotechnology, and Genome sequencing are essential growth strategies in this industry. Edible flowers, rich in Vitamin C and Antioxidants, are gaining popularity. However, challenges such as Climate change, harsh weather conditions, and Drought-like conditions necessitate the implementation of Cold chain protocols, Virtualized trade networks, and Logistics coordination. Major players in this industry include Monsanto, focusing on Anti-aging technology and Air cargo freight, while Exporters utilize Seaways for transporting Cut flowers. The market is expected to continue growing, with potential applications in Harsh climatic conditions and the development of Blue roses.

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• In Vietnam, the floriculture market thrives due to lucrative returns from decorative plants. Favorable agro-climatic conditions in river deltas support diverse production, including high-value flowers like orchids, roses, and lilies. Domestic and international demand fuels growth, particularly for weddings, festivals, and anniversaries. Middle-class consumers and foreign firms invest, driving exports of fresh cut flowers, willow shoots, lavender, and more. Vietnam is an export epicenter, with imports from countries like Australia and exports to the EU via free-trade agreements. Modern technology and cold chain protocols ensure quality.
• The floriculture market in Vietnam has seen robust growth due to the rise of e-commerce, driven by smartphone penetration. Millennials are the primary buyers of flowers online, leading to an increase in sales. Various e-commerce formats offer personalized gifts, including brand-owned sites and pure-play retailers. Key players include those dealing with cut flowers, woody ornamentals, and edible flowers. Climate change and weather conditions impact product quality, necessitating cold chain protocols and temperature controls. Sustainable practices and biotechnology are key growth strategies.

Insights on Market Drivers, trends, & Challenges, historic period(2018 - 2022) and forecast period(2024-2028)- Request a sample report!

Research Analysis

In the thriving floriculture market of Vietnam, ornamental plants, including flowering ones like Lavender and Willow shoots, play a significant role. Woody ornamentals, Bonsai plants, and Bamboo are also popular choices. The industry prioritizes cold chain protocols and logistics coordination to ensure product quality during transportation, particularly for cut flowers. Climate change and harsh weather conditions pose challenges, necessitating temperature controls, artificial lighting, fresh water supply, and flower pollination techniques. Sustainable agricultural practices and biotechnology innovations, such as genome sequencing and the creation of edible flowers like blue roses, are key to overcoming these hurdles. The virtualized trade network facilitates the efficient exchange of goods, while air cargo freight ensures timely delivery. Anticipate the integration of advanced technologies like anti-aging technology to further enhance the industry's growth.

Market Research Overview

The Floriculture Market in Vietnam is a significant sector, characterized by the production and trade of various ornamental plants. Ornamental plants include a wide range of categories such as cut flowers, potted plants, and bedding plants. The industry is driven by both domestic and international demand. Vietnam's favorable climate and fertile land make it an ideal location for the cultivation of a diverse range of flowers. Plants like roses, sunflowers, and chrysanthemums are popular choices for export. The market is also influenced by various factors such as consumer trends, government policies, and technological advancements. For instance, the use of advanced technologies like hydroponics and vertical farming has gained popularity in recent years. The market is expected to continue growing, driven by increasing demand from both domestic and international markets. Overall, the Floriculture Market in Vietnam is an essential contributor to the country's economy and offers significant opportunities for investors and entrepreneurs.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Cut Flowers
• Bedding Plants
• Potted Plants
• Others
• Application
• Conferences And Activities
• Gifts
• Personal And Corporate Use
• Type
• Rose
• Chrysanthemum
• Carnation
• Others
• Geography
• APAC

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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