December 26, 2022 08:00 ET | Source: GreyViews GreyViews
Pune India, Dec. 26, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the indoor plants market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the indoor plants market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as types, application and region. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global indoor plants market are DÜMMEN ORANGE (U.S.), Syngenta (Switzerland), Beekenkamp Group (Netherlands), Hofland flowering plants (Netherlands), SAKATA (U.S.), DUTCH FLOWER GROUP (Netherlands), MARGINPAR BV (Netherlands), Walter Blom Plants BV (Netherlands), Selecta Klemm, Double H Nurseries Ltd, (Germany), ARCANGELI GIOVANNI (Italy), KP Holland (Netherlands), Ball Horticultural Company (U.S.) among others. To achieve a substantial market share in the worldwide indoor plants market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. The term itself makes it clear that indoor plants are ones that are grown inside. Houses, offices, and other interior spaces can all be used to grow indoor plants. Growing plants indoors is believed to have numerous advantages and benefits. Indoor plants improve air quality, eliminate pollutants, raise oxygen levels, and slow the rate of indoor air pollution. Both small and large spaces can benefit from the addition of flowers and attractive plants. These flowers and decorative plants enhance the décor and enhance it aesthetically. Indoor plants can be easily adapted to a variety of climates, gardening requirements, and landscapes and come in a variety of sizes, shapes, and colors. Growing plants inside is believed to have positive effects on both happiness and health. A controlled environment is necessary for indoor plants. Because the atmosphere can be changed to meet the needs of the plants and the climate can be managed, indoor plants can flourish. Indoor plants increase oxygen levels, remove pollutants, keep the air clean, and lower the rate of indoor air pollution. Numerous factors, including rising personal disposable income and growing knowledge of the advantages of indoor plants, such as their capacity to increase humidity and lower temperatures, can be linked to the rise in the market value of indoor plants. Compared to plants that thrive outdoors, indoor plants need less space to grow.
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Scope of Indoor Plants Market Report
The low light plants segment is expected to be the fastest-growing segment in 2021.
The types segment is Shade-loving plants, Low light plants, and High light plants. The low light plants segment is expected to witness the highest growth rate during the forecast period. Low light plants are sometimes known as slow-growing plants or houseplants. These are grown in pots or other containers and don't need much sunlight to grow. They can be placed inside a house, a workplace, or any other indoor location to provide visual appeal. The fundamental benefit of these plants is that, other from normal watering as required, they require very little space and very little upkeep from the owners.
The commercial application segment is expected to be the fastest-growing segment in 2021.
The application segment is commercial application and home decoration. The commercial application segment is expected to witness the highest growth rate during the forecast period. The expansion of hospitals, hotels, restaurants, and shopping malls, together with increased disposable income, is driving demand for indoor plants in this industry. A boost in spending on interior design initiatives like furniture rearrangement and home decor, including growing fresh flowers at home, has raised interest in indoor plants among homeowners worldwide.
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the indoor plants include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
Germany's indoor plant market size was valued at USD 3.6 billion in 2021 and is expected to reach USD 5.2 billion by 2029, at a CAGR of 4.7% from 2022 to 2029. German greenhouses have evolved from crudely covered rows of open-field crops into cutting-edge plant factories. Germany is at the forefront of the commercial use of indoor plants. Startups in Hamburg employ artificial lights to produce lettuce and herbs in storage facilities. Berlin's InFarm has raised USD 35 million for indoor plants.
India's indoor plants market size was valued at USD 4.7 billion in 2021 and is expected to reach USD 6.9 billion by 2029, at a CAGR of 5.2% from 2022 to 2029. Numerous indoor plants are anticipated to contribute significantly to major growth in developing countries like China during the upcoming years. Additionally, the need for indoor plants has expanded due to the region's continually expanding population, which expands the market.
India's indoor plants market size was valued at USD 5.12 billion in 2021 and is expected to reach USD 9.8 billion by 2029, at a CAGR of 5.8% from 2022 to 2029. The existence of several indoor plants is expected to cause nations like China to see significant growth in the forecast years. Additionally, the region's steadily growing population has increased the demand for indoor plants, which directly increases the market. Covid-19 Impact Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising consumer desire for indoor plants to enhance the amount of oxygen and rising personal disposable income.
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