Chicago, Feb. 09, 2022 (GLOBE NEWSWIRE) -- According to the latest research report by Arizton, the U.S. floral gifting market will grow at a CAGR of 6.13% during 2021−2027 to reach $17.02 billion in the next 5 years.
Scope of the U.S. Floral Gifting Market Report
| Report Coverage | Details | |
| Market Size in 2021 | $11.91 Billion | |
| Market Size in 2027 | $17.02 Billion | |
| Growth Rate from 2021 to 2027 | 6.13% | |
| Base Year | 2021 | |
| Forecast Period | 2022-2027 | |
| Segments Covered | Occasion, Platform, Product, Purchase Options, States | |
| Companies Mentioned | FTD, 1-800-Flowers.com, Teleflora, and From You Flowers | |
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Key Highlights Offered in the Report:
- The floral gifting market in the US is fragmented. There are more than 15,000 retail florists in the US. The players operate in various ways utilizing catalog, online, mass-market retail, wholesale, floral, and gift retail channels to serve the market.
- Offering fresh, cut-to-order flowers, straight out of sustainable farms, preferably from within the US is a change that is propelling the industry forward.
- California produces the most cut flowers in the US, accounting for 75-76% of overall output. Nearly all of California's cut flowers are produced on the Central and Southern Coasts, with greenhouses accounting for most of the production.
- The US floral gifting one-time purchase market is expected to reach US$ 11.26 billion by 2027, growing at a CAGR of 5.86% during the forecast period.
- Considering that a portion of the US population will visit brick-and-mortar stores to give orders for flowers, the US in-store floral gifting market is expected to grow at a steady pace.
- The US online floral gifting market was valued at US$ 3.34 billion in 2021 and is expected to grow at a CAGR of 7.98% during the forecast period.
- The wedding floral gifting segment has done well in the past, and florists are looking to shift focus to the overall wedding event over the occasional bouquet. This is because they garner large volumes in terms of sales and provide a high profit.
- The US wedding floral gifting market is expected to reach US$ 3.66 billion by 2027, growing at a CAGR of 6.54% during the forecast period.
- The market is attractive due to its high profitability and low barriers to entry. New entrants need little access to financial resources and technological capabilities. In addition, the proliferation of the online medium has facilitated ease of entry, thereby driving up the possibilities of new players entering the market.
Key Offerings:
- Market Size & Forecast by Revenue | 2021−2027
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by occasion, platform, product, purchase options, and states
- Competitive Landscape – 4 key vendors and 20 other vendors
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U.S. Floral Gifting Market – Segmentation
- Customers usually purchase Mother's Day flowers via the internet as they tend to see the arrangements in large before buying. However, the mobile segment is also witnessing a decent growth YOY courtesy of the younger generation.
- The online marketplace has evolved rapidly in the last couple of years, setting in motion a refined, less hassled flower gifting delivery system. The internet has shortened the supply chain in every possible way, putting all the players in touch with each other.
- Tropical cut flowers have found their moment in the spotlight owing to a high perceived value and as it blends in better with modern home interiors. It is particularly popular among trendsetters and those that are style-bent.
Market Segmentation by Occasion
- Personal & Self Gifting
- Wedding
- Corporate
- Sympathy
Market Segmentation by Platform
- In-Store
- Online
- Mobile
Market Segmentation by Product
- Bouquets & Arrangements
- Stems
Market Segmentation by Purchase Options
- One-Time Purchase
- Subscriptions
Market Segmentation by States
- California
- Washington
- Oregon
- Florida
The U.S. Floral Gifting Market – Dynamics
The whole phenomenon of the concrete jungle, the need to disconnect from the digital way of life, and small living spaces have driven the new age consumers to reconnect and surround themselves with nature. Consumers are also intentionally distancing themselves from the whole minimalism movement. As everything inside the home becomes increasingly digitalized, the chasm between home furnishings and digital devices reduces. Plants and flowers represent that divide in homescapes. A clear indication of this is the growth in demand for botanical creatives such as bespoke flower farmers, flower farm tours, and interior plant stylists and decorators. A lot of these positions are occupied by traditional florists, demonstrating the evolution of the floral market. Further, sub-40-year-olds are increasingly seeking small apartments, which mostly are devoid of gardens, and are thereby turning to flowers for some form of greenery. This has resulted in flowers no longer being viewed as an isolated element. They are becoming an integral part of interiors, used to add an accent of color along with greenery.
Key Drivers and Trends Fueling Market Growth
- Spread of the Farmer-Florist Movement
- Increasing Demand for Sustainability
- Link Between Exposure to Flowers and Health & Wellbeing
- Floral Design Gaining Renaissance
The U.S. Floral Gifting Market – Competitor Landscape
The floral gifting market in the US is fragmented. There are more than 15,000 retail florists in the US. The players operate in various ways utilizing catalog, online, mass-market retail, wholesale, floral, and gift retail channels to serve the market. Floral mass marketers that cater to consumers take orders via websites and smartphone apps. These players are only expected to grow with the digital wave sweeping across the retail industry. On the other hand, supermarkets have also entered the market by providing floral gifting products, driving up competition, thereby influencing the growth of the breadth of related products offered. The market also witnesses the operation of floral wire services that use a proprietary network communication system through which orders are taken and passed through to the floral network members. Their services include marketing, clearinghouse services, and others to support the florists registered with the network. Smaller retail florists often depend on these networks for orders. However, there is a decline in the number of retail florists, driving up rivalry in the market. This is being offset by the entry of other companies and non-florist retailers expanding their offering to cover floral gifting.
Major Vendors
- FTD Companies
- 1-800-Flowers.com
- Teleflora
- From You Flowers
Other Prominent Vendors
- 5th Floral Co
- Avas Flowers
- Benchmark Boquets
- BloomNation
- BloomsyBox
- Blooms Today
- Farmgirl Flowers
- Floom
- Flora2000
- FloraQueen
- com
- Just Flowers
- KaBloom
- The Flower Shop
- The Bouqs
- UrbanStems
- Gotham Florist
- H Bloom
- Venus Et Fleur
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Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
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