The ornamental sunflower market has been growing at a steady pace. Sunflowers are widely cultivated across the globe owing to their bright and cheerful appearance. They are easy to grow and require minimum care. Ornamental varieties of sunflowers come in a wide array of colors like yellow, orange, red and burgundy. They add aesthetic value to home gardens, parks and public landscapes. Rising awareness about environmental protection has boosted the popularity of ornamental sunflowers as they are eco-friendly.
The global ornamental sunflower market is estimated to be valued at US$ 95.36 Mn in 2024 and is expected to exhibit a CAGR of 4.1% over the forecast period 2024 to 2031.
Rising Ornamental Sunflower Market Demand are grown without pesticides and do not require extensive care. They are biodegradable and carbon neutral, making them appealing to environmentally conscious consumers.
Key Takeaways
Key players operating in the ornamental sunflower market are Pfizer Inc., Novartis AG, Sanofi, Johnson & Johnson, GlaxoSmithKline plc, Merck & Co., Inc., Eli Lilly and Company, Boehringer Ingelheim, AstraZeneca plc, Bristol Myers Squibb, Roche Holding AG, AbbVie Inc., Biocon Limited, and Teva Pharmaceutical Industries Ltd. These companies are focusing on developing new varieties of ornamental sunflowers to cater to the evolving tastes of customers.
The key opportunities in the market include rising sales through e-commerce platforms and increasing product promotion through social media marketing. Many regional players are expanding their online presence to reach a wider customer base. Consumers are increasingly purchasing gardening and household products from online retailers due to convenience.
The global expansion of the ornamental sunflower market is supported by surging demand from developed regions of North America and Europe. Major international players are focusing on these lucrative markets through joint ventures and collaborations with regional firms. The market is also witnessing steady growth in developing Asian countries where urbanization is on the rise and more people are taking interest in home gardening.
Market Drivers
Ornamental Sunflower Market Size And Trends for eco-friendly products. Customers are aware of the carbon footprint of cut flowers that are imported from distant places. Ornamental sunflowers are a sustainable alternative grown locally without chemicals. Hence, their popularity is increasing among environmentally conscious consumers.
PEST Analysis
Political: Ornamental sunflower market is affected by government regulations and policies related to agriculture and horticulture. Changes in import-export regulations impact the trade of ornamental sunflowers between countries.
Economic: The economic condition of major consumers influences the consumer spending on ornamental flowers including sunflowers. Fluctuations in GDP and incomes determine the demand trends in this market.
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Social: Increasing interest of people in gardening and demand for flowers for decoration boost this market. Frequent social media trends of using sunflowers for photos, videos fuel its popularity.
Technological: Advancements in cultivation techniques help grow disease-resistant hybrid varieties. Automated greenhouses with climate control systems ensure year-round supply of sunflowers.
The geographical regions where the ornamental sunflower market is highly concentrated in terms of value are Europe and North America. Europe accounts for the largest share due to high domestic consumption in countries like Germany, UK, France. Increased production in Eastern European nations has made the region self-sufficient in sunflower supply. North America has major consumers in the US and Canada where gardening is a popular household activity and the demand remains strong throughout the year.
The Asia Pacific region is emerging as the fastest growing market for ornamental sunflowers globally. Countries like China, India and Vietnam are increasingly cultivating hybrid varieties to cater to the rising domestic demand and also for exports. Improving economic conditions and growing interest of people in home décor and gifting is fueling the demand growth in Asia.
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
