Artificial Plants Market: Current Analysis and Forecast (2021-2027)
Global Artificial Plants Market was valued at US$ ~700 Million in 2020 and is anticipated to display an elevated CAGR of ~5% over the forecast period (2021-2027).
A growing trend of interior design owing to the surging disposable income due to the rising number of working couples, emerging nuclear families, etc. is leading to the growing demand for the artificial plants market. The preference for artificial plants over natural ones is booming due to the factors such as less maintenance, more durability, etc., As per Horticultural Trades Association (HTA), UK households spend around USD 8.74 billion on gardening goods and a further USD 2.80billion on gardeners and landscapers each year. Also, 34% of gardeners in the UK are turning to landscape professionals, such as artificial grass specialists, to help us to create a more inviting outdoor space and 39% of gardeners are planning to spend, or have spent, more than US$ 2906.95 upgrading our garden.
Growth in the construction industry in the areas of commercial and residential is one of the key factors driving the market in the North America Artificial plants market. As per a renowned management consulting firm, From 2009 to 2017, US hotel gross bookings grew from $116 billion to $185 billion. Moreover, the restaurant industry grew by 4.4% whereas the hotels' industry grew by 6% during 2009-17.
Moreover, the offering of artificial plants made up of good material is gaining consumers’ traction. Modern artificial grass contains anti-bacterial properties, which help prevent the spread of bacteria and germs. Furthermore, unlike natural grass, the product is not exposed to hazardous pesticides, which makes it both children and pet-friendly.
The GreenHouse, Treelocate Ltd., Share trade Artificial Plant and Tree Co., Ltd., International Plantworks, Nearly Natural, J. S. Flower Company Limited, Commercial Silk Int'l & Plantscape Inc, China Silk Flower Factory, GreenTurf, and International TreeScapes, LLC, etc, are some of the prominent players operating in the Artificial Plants market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst Product Type, Whole plants and Trees segment holds the major share”
Based on the Product Type, the market is fragmented into Stem Flowers, Whole Plants & Trees, Wood & Branches, Grass, and Others. The whole plants and trees segment grabbed considerable market share and captured XX% market share in the global artificial plants market in 2020. Moreover, the market would witness a sharp rise in the forthcoming years owing to surging disposable income. However, the grass segment would witness sky-rocked growth in the forecast period of 2021-2027F
“Amongst End-Use Type, Commercial segment to dominate the market during the forecast period”
Based on the End-Use type, the market is fragmented into Commercial and Residential. The Commercial segment grabbed major market share and dominated the market in 2020. However, the residential segment would emerge in the forecast period and would witness a considerable CAGR during the forthcoming period.
“Amongst Material Type, Plastics segment to dominate the market during the forecast period”
Based on the Material Type, the market is fragmented into Silk, plastics, rubber, paper, and Others. The plastics segment grabbed major market share and dominated the market in 2020. Moreover, the market of this segment would reach USD XX Mn by 2027. However, the rubber segment would witness the highest CAGR during the forthcoming years
“Amongst Distribution Channel Type, Supermarket/ Hypermarket segment to dominate the market during the forecast period”
Based on the Distribution channel Type, the market is fragmented into Supermarkets & Hypermarkets, Convenience Stores, Specialty Stores, Online, and others. The supermarket/ hypermarket segment grabbed major market share and dominated the market in 2020. Moreover, the market of this segment would reach USD XX Mn by 2027. However, the online segment would witness the highest CAGR during the forthcoming years
“North America represents one of the largest markets of Artificial Plants market”
For a better understanding of the market dynamics of the Artificial Plants market, a detailed analysis was conducted for different regions across the globe including North America, Europe, Asia Pacific, and the Rest of the world. North America dominated the market and generated the leading revenue share in 2020 owing to the rising working women coupled with the offering of artificial plants of new good materials.
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