Artificial Plants And Flowers Market in US to grow at a CAGR of 3.88% during 2024-2028
The Artificial Plants And Flowers Market in US is expected to grow at a CAGR of 3.88% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 438.3 million. The US economy's robust growth over the past decade has significantly boosted consumer spending, fueled by increased GDP and subsequent wage growth for employees. This economic upturn has led to heightened demand for home improvement and decor products, including artificial plants and flowers. Consequently, interior designers and design companies in the US have capitalized on this trend, introducing innovative styles and concepts to inspire homeowners to invest in interior design. Furthermore, the growing media attention and awareness of global artistic influences have intensified consumer interest in designer home decor items, such as artificial plants and flowers.
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Technavio analysts predict that the Polyester subsegment will lead the Material segment during 2024 and 2028 In the decorative market, polyester, a class of polymers characterized by ester functional groups in their main chain, holds significant sway. Since the 1970s, this versatile material has been the dominant choice for manufacturing artificial plants and flowers due to its numerous advantages. Its resistance to fading, affordability, and aptitude to absorb adhesives and colors make polyester the preferred fabric among industry players. Consequently, the polyester segment is poised to drive the expansion of the artificial plants and flowers market in the US throughout the forecast period.
Here are the various ways based on which the market is segmented:
Key Companies and Market Insights
Some of the key companies in the US Artificial Plants And Flowers Market include:
There are several factors that are causing the market to flourish growing use of artificial plants and flowers for decorative and aesthetic purposes
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The Artificial Plants and Flowers market in the US has witnessed significant growth in recent years, driven by the increasing demand for decorative articles and the rise of e-commerce. This market caters to various segments, including artificial flowers jewelry, colorful pots, and non-toxic faux plants made of materials like silk, polyester, plastic, clay, paper, and more. Artificial flowers and plants are popular for their aesthetic appearance and low maintenance, making them ideal for indoor decoration, educational institutions, hospitals, and public gatherings. They are also used as gift articles for various occasions and events, including weddings, anniversaries, and housewarming parties. Moreover, artificial flowers and plants are a boon for people with allergies, as they do not require watering or exposure to natural elements that could trigger allergic reactions. The market also includes realistic faux plants and flowers for gardening goods, weeding cars, and even for decorating cars. Overall, the Artificial Plants and Flowers market in the US continues to thrive, offering a wide range of products to cater to diverse consumer preferences.
According to Technavio, the Artificial Plants and Flowers market in the US is a segment of the global home furnishing industry, which encompasses manufacturers and marketers of furniture, home furnishings, floor coverings, decorative products, consumer electronics, household appliances, and other homeware items. The size of the global home furnishing market is determined by the consolidated revenue generated from these product categories. Key growth drivers for this market include the increasing construction of residential and commercial properties, with a heightened emphasis on infrastructure development leading to increased sales of new furniture and decorative products.
The Artificial Plants And Flowers Market in US is experiencing significant growth, fueled by the growing use of artificial plants and flowers for decorative and aesthetic purposes. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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UK: +44 203 893 3200
Email: media@technavio.com
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