The size of the Latin American floriculture market is expected to reach USD 4.85 billion in 2024 and reach USD 6.93 billion by 2029, growing at a CAGR of 7.40% from 2024 to 2029.
The study of growing flower-bearing plants and foliage is called floriculture also known as flower farming. It also includes the cultivation of ornamental plants and the production of seeds, grafting, buddings, cuttings, and other planting materials. It is the complete development of flowers and ornamentals from seeds to the point of sale.
The demand for flowers is very high in the past few years and is expected to sustain in the forecast period as well. Technological advances in biotechnology and genome sequencing in plants has resulted in the development of new hybrid varieties of flowering plants and also increased the yield. Floriculture is transforming into a lucrative business due to its high growth potential.
Developments in horticulture practices greenhouse technology advances in biotechnology and its applications on plants, and the rapidly growing commercial flower trade in developing countries are driving market growth. However, the lack of better transporting facilities in developing regions and increasing demand for artificial flowers are restraining the market growth to an extent.
Latin America is the fastest-growing market for floriculture. It is due to the ever-growing flower trade in countries such as Colombia and Ecuador. Colombia is the largest flower exporting country in Latin America region.
Some of the major players in the Floriculture market are Syngenta Flowers, Karuturi, Rosebud, Beekenkamp, Queens Group, Dutch Flower Group, Washington Bulb, Finlays, Selecta One, and Dümmen Orange.
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