Artificial Plants Market Overview
The artificial plants market size was valued at USD 0.82 billion in 2023. The artificial plants industry is projected to grow from USD 1.18 Billion in 2024 to USD 1.51 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.18% during the forecast period (2024 - 2032).
The artificial plants market has decreased due to the closure of shopping centers, cafés, specialized shops, supermarkets, workplaces, and tourist attractions. In addition, as a result of COVID-19, retail firms are shifting their focus to online platforms and reducing their brick-and-mortar presence. As a result, COVID-19 has significantly impacted many businesses and supply chains.
Artificial plants are becoming more popular for interior decorating, both in the home and in the workplace, since they need little to no upkeep. As a result, fake plants are in high demand in the residential and commercial sectors. The millennial generation, in particular, is known to favor easy-to-use decorative accents like fake plants. The industry for artificial plants is also driven by the reproduction of rare, attractive plants that are difficult to obtain or sustain in varied weather conditions.
Competitive Dashboard
The artificial plants key market players are The Green House (India), Treelocate Ltd. (UK), Sharetrade Artificial Plant and Tree Co. Ltd. (China), International Plantworks (US), Nearly Natural (US), J. S. Flower Company Limited (Thailand), Commercial Silk Int'l Plantscape Inc (US), China Silk Flower Factory (China), GreenTurf (Singapore), International TreeScapes, LLC (US) and more.
Most of the firms work on bolstering their local and global presence, for which they introduce newer and more sophisticated products. The primary strategical measures undertaken by these players include agreements, partnerships, and collaborations.
To illustrate, SYNLawn, the biggest developer of artificial grass in the North American market, will be debuting its exclusive EnviroLoc+ Backing System. This soy-based backing technology contains an impressive anti-algae and anti-fungal component, which helps foster the lifespan of the artificial grass
Market Segmentation
According to this analysis, the worldwide artificial plants market is divided into four main categories: product type, material type; end-user; and distribution channel.
Plants and trees of all shapes and sizes and stem blossoms and grass are all included in the study. Plants and trees as a whole dominate the worldwide artificial plants market since they enhance the visual attractiveness of an area without needing any money or resources to be spent on upkeep.
Non-Store-Based and Store-Based distribution channels exist. In light of the growing prominence of e-commerce and corporation websites, the non-store-based marketing intermediaries dominate the worldwide market. In addition, businesses and consumers are increasingly using offline methods for selling and purchasing fake plants because of growing internet use.
Regional Classification
Artificial plants market may be broken down geographically into five central regions: the North American region, the European region, Asia Pacific, the Middle Eastern part, and South American region. Artificial plants Market share is expected to dominate the European and North American areas because of the high-end commercial customers in these areas, such as amusement parks and international airports.
In 2020, artificial plants market in North America was expected to have the most significant share of the worldwide artificial plant market, accounting for more than half of sales. North America is the world's largest market for fake flowers and plants, and they are employed in a variety of celebrations and events. Sophisticated technology is used to create artificial plants that closely mimic natural ones. Manufacturing fake plants using cutting-edge technology is commonplace in the United States and Canada.
Industry News
According to Afloral.com, a leading online flower retailer, 200 new dried flowers and conserved grasses were added to the company's online store during September 2019 in response to the growing demand for the home décor and wedding flower markets.
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Table of content:
- Executive Summary
- Market Introduction
- Research Methodology
- Market Landscape
- Market Dynamics
To be continued....
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