Being hesitant to join the flower industry can be understandable, especially if you’re unaware of its current status or performance. I mean, you wouldn’t want to join the industry with such high hopes and end up saying, “What in CARNATION?” Luckily for you, I’ve got you covered.
Floral Industry Market Statistics and Projections
According to statistics from Transparency Market Research, the global cut flower industry had an exact value of $30.9 billion by the end of 2022 and is projected to grow at a rate of 6.0% for the period 2023-2031. Experts also see exponential growth in the flower industry. Future Market Insights states that the global market industry can reach a value of $106.1 billion in 2033.
These statistics and projections mean that the flower industry is currently performing decently and will steadily grow in the years to come. So, no, the floral industry is not dying, and you may still have a wonderful career as a florist.
Factors that Affect the Floral Industry
Essentially, the flower industry may perform differently over the years. For instance, the flower industry could go downhill in 2025 due to negative changes in the environment or the economy. Nonetheless, some factors have kind of already set the growth of the floral industry in stone, and they are as follows:
Floral Creative Innovations
One factor that will surely have a positive impact on the flower industry is the creative innovations in floral design. As the years pass, consumers’ preferences will imminently change. In consequence, floral designers would have to resort to being more creative and innovating floral products and services that would cater to the preferences of the consumers. In doing so, they can sustain the status of the floral industry.
Trends
Another factor that will play a significant role in sustaining the status of the flower industry in the future is trends. In a sense, trends will affect the industry in the same way that creative floral innovations will; they will cater to the changes in customer preferences. For instance, if the Barbie-core aesthetic trend becomes even more popular in the next 5 years, then definitely, pink-colored flowers will become more in demand and more profitable.
As a broader example, let’s say flowers become more fashionable in future interior design, then naturally, the flower industry as a whole, can expect an improvement.
Involvement of Developing Countries
Last but not least, a factor that will positively affect and will certainly help sustain the flower industry in many years to come is the introduction of developing countries into the industry. More and more countries or markets continue to develop and get involved in the florist industry, adding more value to the market.
A great example of this is the developing country of Kenya, which is a top provider of roses. According to the BBC, Kenya’s involvement in the flower industry has helped the industry a lot, largely by providing employment and opportunities, as well as aiding the country’s economic development.
Conclusion
Pretty much across the board, despite experiencing a slump in previous years, the floral industry is not dying. Statistics show that the florist industry is doing well and it is expected to perform even better in the years to come. Additionally, three factors set the improvement of the industry in stone, including 1) creative innovations in floristry, which will cater to the changing preferences of the consumers; 2) trends, such as the Barbie-core aesthetic and flowers in interior design; and 3) the involvement of the developing countries, such as Kenya. All these can strengthen the flower industry and lead to its growth in the years to come.
To learn more on how to start your own flower shop business check out my startup documents here.
Please note that the contents of this blog are for informational and entertainment purposes only and should not be construed as legal advice. Any action taken based on the information provided in this blog is solely at your own risk. Additionally, all images used in this blog are generated under the CC0 license of Creative Commons, which means they are free to use for any purpose without attribution.
Meet Shawn Chun: Entrepreneur and Flower Shop Business Fan.
I’m a happy individual who happens to be an entrepreneur. I have owned several types of businesses in my life from a coffee shop to an import and export business to an online review business plus a few more and now I create online floral business resources for those interested in starting new ventures. It’s demanding work but I love it. I do it for those passionate about their business and their goals. That’s why when I meet a floral business owner at a craft fair, farmers market, retail location, or anywhere else I see myself. I know how hard the struggle is to obtain and retain clients, and finding good employees all while trying to stay competitive. That’s why I created Flower Shop Business Boss: I want to help flower shop business owners like you build a thriving business that brings you endless joy and supports your ideal lifestyle.