The US-Artificial Plants and Flowers Market size is estimated to grow at a CAGR of 3.88% between 2023 and 2028. The market size is forecast to increase by USD 438.3 million. Several factors play a crucial role in the market's growth, such as the growing use of artificial plants and flowers for decorative and aesthetic purposes, the advantages of artificial plants and flowers over natural alternatives and increased penetration of online shopping.
The report offers extensive research analysis on the US-Artificial Plants and Flowers Market with a categorization based on Material, including polyester, plastic, clay and others. It further segments the market by End-user, encompassing commercial and residential. Additionally, the report provides Distribution Channel segmentation, offline and online. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD million) for all the mentioned segments.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increased penetration of online shopping is notably driving the market growth. E-retail is the fastest-growing distribution channel in the artificial plants and flowers market in the US. It is gaining popularity, as it is a time-saving and cost-effective channel for purchasing products. The growing number of websites offering a wide range of artificial plants and flowers has increased the demand for these products. Nowadays, the preference for e-commerce platforms is increasing compared with physical stores. Moreover, the availability of online payment options, a wide range of merchandise, online tracking of shipments, 24/7 customer support, larger Internet reach, and low cost of products have increased the demand for online shopping in the US.
Moreover, customers have several payment options, such as credit cards, debit cards, cash on delivery, and Internet banking, which facilitate the shopping experience of customers. Therefore, the constantly growing demand for online shopping will further drive the growth of the US artificial plants and flowers market during the forecast period.
Growing demand for seasonal decorations and a growing gifting culture is an emerging trend shaping the market growth. A major percentage of the revenue of the artificial plants and flowers market in the US comes from seasonal decorations. For instance, in the US, the holiday season is also considered a gifting season. The growing demand for seasonal gifts in the US is increasing the sales of personalized gifts such as artificial plants and flowers in customized vases. Self-gifting and mutual-gifting practices also foster market growth in the US. These practices increase the up-selling and cross-selling among gift retailers.
However, the trend of gifting is expected to grow constantly in the country, and the demand for artificial plants and flowers will increase further with the gifting trend, owing to the improvements in the materials and quality of artificial plant and flower offerings by vendors in the market. Thus, the US artificial plants and flowers market will grow significantly during the forecast period.
The criticality of product sourcing and inventory management is a significant challenge hindering market growth. Managing inventory is the key concern for both offline and online vendors in the US artificial plants and flowers market. Inventory concerns have evolved in tandem with changing shopping patterns. Consumer preferences change over time, thus increasing inventory turnover requirements. Suppliers or manufacturers of artificial plants and flowers in the country need to adjust to smaller orders from wholesalers and retailers, which compels them to improve inventory turnaround times. This creates pressure on the raw materials, quality control, transportation, and labour costs of manufacturers.
In addition, the emergence of the disease in the US has led to the limited availability of the labour force at warehouses. This has increased the burden on inventory planning and management operations in the country. Hence, the criticality of product sourcing and inventory management is expected to negatively impact the growth of the US artificial plants and flowers market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
US Artificial Plants And Flowers Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Chans Silk Flowers Inc. - The company offers artificial plants and flowers such as florals and floor and shelf plants.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The polyester segment is estimated to witness significant growth during the forecast period. Polyesters are a class of polymers where each repeat unit of their main chain has an ester functional group. The growing demand for decorative products such as artificial plants and flowers is expected to fuel the growth of polyester material.
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The polyester segment was the largest and was valued at USD 710.54 million in 2018. Since the 1970s, polyester has been the primary material used to create artificial plants and flowers. Nowadays, polyester is used to make the majority of artificial plants and flowers sold in stores. Polyester resistance to fading, affordability, and capacity to absorb adhesives and colours make it the preferred fabric among artificial plants and flower manufacturers. Thus, the polyester segment is expected to fuel the growth of the US artificial plants and flowers market during the forecast period.
The US Artificial Plants And Flowers Market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2018-2028.
US Artificial Plants And Flowers Market Scope
Report Coverage
Details
Page number
139
Base year
2023
Historic period
2018-2022Forecast period
2024-2028
Growth momentum & CAGR
Accelerate at a CAGR of 3.88%
Market Growth 2024-2028
USD 438.3 million
Market structure
Fragmented
YoY growth 2023-2024(%)
3.44
Competitive landscape
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry RisksKey companies profiled
Balsam Brands Inc., Chans Silk Flowers Inc., Charles Lubin Co. Inc., H&P Sales Inc., Inter IKEA Holding BV, International Greenscapes LLC, Jamali Floral and Garden Supplies, Nearly Natural, New Growth Designs, Petals, Plantscape Commercial Silk, Prestige Botanicals, SilkPlantsDirect, Silks Are Forever, Dongyi Artificial Plants Co. Ltd., Becks Silk Plant Co., J.S. Flower Co., M and S Schmalberg Inc., Natural Decorations Inc., and Pacific Silk Plants
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.
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