Philippines Flower and Ornamental Plants Market (2022-2028) (2024)

Philippines Flower and Ornamental Plants Market Synopsis

Philippines flower and ornamental plants market is expected to grow during the forecast period. The key market drivers for the Philippine flower and ornamental plants market are increasing demand from domestic and international consumers, the increase in spending on luxury goods, and the increasing popularity of natural products. Furthermore, governments across Asia are encouraging the use of indigenous flora as part of eco-tourism initiatives.

According to 6Wresearch, the Philippines Flower and Ornamental Plants Market size is expected to grow during 2022-2028. The country has a population of over 100 million people, making it one of the most populous countries in the world. The increasing popularity of natural products and eco-friendly initiatives is driving the demand for flower and ornamental plants in the country.

The key market segments that are expected to drive growth in the Philippines flower and ornamental plants market are wedding bouquets, home decoration, florists' supplies, nursery plants, cut flowers, ferns, orchids, and roses. These segments are primarily driven by increased spending on luxury items such as weddings and home decorations. The wedding bouquets segment is expected to witness the highest growth due to growing consumer preferences for unique floral arrangements.

Drivers for the Philippines Flower and Ornamental Plants Market

The major factors contributing to the growth of the Philippines flower and ornamental plants market are increasing demand from new businesses, growing investments in tourism, and increasing disposable income among individuals in the country. Increasing investments in agro-tourism will also propel the Philippines flower and ornamental plants market growth.

Some of the major drivers that are expected to drive growth in the Philippines flower and ornamental plants market include increasing demand from buyers in various regions such as Asia-Pacific and South America, increasing demand from both domestic and international consumers, increasing demand from residential and commercial sectors, growing popularity of exotic plants, and increase in international trade, increasing adoption of natural products as alternative remedies for various health problems, and growing awareness about environment-friendly initiatives among businesses.

Challenges in the Philippines Flower and Ornamental Plants Market

There are still some challenges in the Philippines Flower and Ornamental Plants Market revenue that need to be addressed in order to make this market even more successful.

One of the biggest challenges is the lack of reliable suppliers. Many growers have difficulty finding consistent sources for quality plant material, which can lead to problems with product quality and availability. There is also a need for more information on best practices for growing and marketing these plants.

Another challenge is the high cost of labor in the Philippines. While wages have been rising in recent years, they are still relatively low compared to other countries in Southeast Asia. This makes it difficult for growers to compete on price with competitors from other regions.

Finally, there is a need for more government support for the industry. The current administration has shown some interest in promoting the development of the sector, but more needs to be done in terms of infrastructure development and providing incentives for investment.

Market Analysis based on Product Type

The flowers segment is expected to register the highest growth rate due to the increased demand from domestic and international markets for fresh flowers. The potted plants segment is projected to grow at a higher rate owing to increasing preference for indoor plants among consumers across both domestic and international markets. The trees segment is anticipated to grow at a moderate pace due to the increasing awareness about environmental benefits of trees among consumers.

Market Analysis based on Application

In terms of application, the market is divided into Home and commercial segments. The commercial segment is expected to account for more than half of the total value generated in the market during the forecast period. The Philippines flower and ornamental plants market share is dominated by retail traders. In addition, there is a significant presence of foreign investors in this market owing to the high potential for export earnings. The major contributors to the growth of this market are the increase in spending on flowers and decorations, as well as innovations in plant cultivation techniques.

Impact of COVID-19 on the Philippines Flower and Ornamental Plants Market

Since the outbreak of COVID-19, the Asia Pacific flower and ornamental plants market has been severely impacted. Philippines is a major supplier of flowers to the global market, and the pandemic has led to a significant decrease in demand. This has resulted in lower prices and revenue for growers. In addition, the lockdown measures implemented by the government have hampered production and transportation, further disrupting the market.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2018 to 2021.
• Base Year: 2021.
• Forecast Data until 2028.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Philippines Flower and Ornamental Plants Market Outlook
• Market Size of Philippines Flower and Ornamental Plants Market, 2021
• Forecast of Philippines Flower and Ornamental Plants Market, 2028
• Historical Data and Forecast of Philippines Flower and Ornamental Plants Revenues & Volume for the Period 2018 - 2028
• Philippines Flower and Ornamental Plants Market Trend Evolution
• Philippines Flower and Ornamental Plants Market Drivers and Challenges
• Philippines Flower and Ornamental Plants Price Trends
• Philippines Flower and Ornamental Plants Porter's Five Forces
• Philippines Flower and Ornamental Plants Industry Life Cycle
• Historical Data and Forecast of Philippines Flower and Ornamental Plants Market Revenues & Volume By Product Type for the Period 2018 - 2028
• Historical Data and Forecast of Philippines Flower and Ornamental Plants Market Revenues & Volume By Potted Plants for the Period 2018 - 2028
• Historical Data and Forecast of Philippines Flower and Ornamental Plants Market Revenues & Volume By Cut Flowers for the Period 2018 - 2028
• Historical Data and Forecast of Philippines Flower and Ornamental Plants Market Revenues & Volume By Application for the Period 2018 - 2028
• Historical Data and Forecast of Philippines Flower and Ornamental Plants Market Revenues & Volume By Home for the Period 2018 - 2028
• Historical Data and Forecast of Philippines Flower and Ornamental Plants Market Revenues & Volume By Commercial for the Period 2018 - 2028
• Philippines Flower and Ornamental Plants Import Export Trade Statistics
• Market Opportunity Assessment By Product Type
• Market Opportunity Assessment By Application
• Philippines Flower and Ornamental Plants Top Companies Market Share
• Philippines Flower and Ornamental Plants Competitive Benchmarking By Technical and Operational Parameters
• Philippines Flower and Ornamental Plants Company Profiles
• Philippines Flower and Ornamental Plants Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Product Type

• Potted Plants
• Cut Flowers

By Application

• Home
• Commercial

Philippines Flower and Ornamental Plants Market: FAQs

Middle East Flower And Ornamental Plants Market

North America Flower And Ornamental Plants Market

Latin America Flower And Ornamental Plants Market

Europe Flower And Ornamental Plants Market

Africa Flower And Ornamental Plants Market

Related Report Available

×