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The global artificial flowers market size is projected to showcase substantial growth in the forthcoming years, owing to the development of the interior decoration sector. This information is published by Fortune Business Insights in its report titled, "Artificial Flowers Market, 2021-2028".
The rising demand for indoor and outdoor decoration across the globe is augmenting the growth of the product. Moreover, increasing preference for aesthetic looks especially in commercial and corporate spaces is propelling product sales. In addition, low maintenance and long-lasting quality of the product result in the high demand and production of these flowers.
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Segments-
By material, the market is segmented into polyester, paper, nylon, silk, and others. Based on application, it is bifurcated into residential and commercial. By distribution channel, it is classified into hypermarkets and supermarkets, specialty stores, online stores, and others. Based on geography, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What Does the Report Contain?
The report offers an insight into the profitability, entire structure, and scale of the artificial flowers market. It also studies the drivers and restraints and considers all the potential threats to the market. The critical analysis of marketplace sections, prediction analysis, and expert insights are strategically included in the report. A wide spectrum of data, including regional analysis, market segmentation, industry developments, and key players is included in the research conducted by market experts.
Driving Factor
Increasing Number of Convenience Stores to Aid Market Growth
The rising consumption of fake flowers to enhance the display of retail stores and supermarkets is one of the prominent drivers of the market. The rising number of convenience stores and associated infrastructural facilities across the globe demands a high volume of the product. For instance, in 2019, the data provided by the Association of Convenience Stores recorded a staggering growth of 46,388 convenience stores in the mainland UK.
Furthermore, the celebration of various festivals and do-it-yourself crafts are augmenting the product demand. The substantial influence of social media for aesthetic looks and the above-mentioned factors are prominent contributors to the artificial flowers market growth.
Regional Insights-
Increasing Production and Sales in Europe to Surge Product Demand
Europe is anticipated to lead the artificial flowers market share in the foreseeable future. This is due to the large volume of artificial flowers imported from European countries such as Switzerland, Spain, and the UK. For example, in 2019, the data by the European Union showcased that the import value of artificial flowers from Switzerland reached approximately USD 133,736. Moreover, the increasing disposable income of the region and numerous festivals celebrated are significantly contributing to the market growth.
Asia Pacific is expected to showcase development at a faster rate in the forthcoming years. This is attributed to the large number of hotels and commercial spaces in countries such as India. In addition, the rising disposable income of consumers also facilitates product sales.
Competitive Landscape-
Constant Innovation in Product by Market Players to Uplift their Market Position
The market is a highly competitive market with several players. Moreover, the competition is not limited to prices but also designs and quality of material provided. Producers are investing in various manual and semi-automatic equipment for production lines across the globe. There are also a few small-scale and domestic players in the market that are striving to expand their consumer base and production. The market players are also collaborating with various event management and associated professionals to further their revenue generation and market prominence.
Industry Development:
January 2020: CeCeBlooms, an artificial flowers business, was launched by a Darlington-based entrepreneur to facilitate the demand for long-lasting flowers from domestic consumers.
List of Key Players Present in the Market:
Orient Fine Art Co. Ltd.
com
TOPFLORAL
FRS Holding
Commercial Silk Int’l & Plantscape Inc.
Diane James Designs, Inc.
Fusheng Arts Products Co. Ltd.
Silf Flower Decoflora
TH Artificial Flower Manufacturers
Fantastic Florals Inc.
Browse Detailed Research Report Summary: https://www.fortunebusinessinsights.com/artificial-flowers-market-104459
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