The Floriculture Market in Vietnam is being driven by Use of flowers and plants for decorative/aesthetic purposes
The Floriculture Market in Vietnam is expected to grow at a CAGR of 9.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 320.5 million. In Vietnam's thriving economy, the consumer market is witnessing a surge in demand for premium goods, including the floriculture sector. Calla lilies and tulips, recognized for their elegance and exclusivity, are popular premium offerings in the Vietnamese floriculture market. Retailers catering to this niche have identified pricing as a strategic differentiator, introducing premium versions of their bouquets, featuring an assortment of unique and exotic flowers, for special occasions such as weddings. The increasing preference for high-end floral arrangements underscores the potential for growth in this market segment.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Product (Cut flowers, Bedding plants, Potted plants, Others) Type (Rose, Chrysanthemum, Carnation, Others) Application (Conferences and activities, Gifts, Personal and corporate use) Geography (APAC).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Floriculture Market in Vietnam Research Report
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The Vietnamese floriculture market thrives on various flowering and ornamental plants, including willow shoots, lavender, woody ornaments, bonsai, and bamboo. Cold chain protocols, a virtualized trade network, and logistics coordination ensure the freshness of cut flowers, focusing on product quality despite climate change and harsh weather conditions. Technological advancements like artificial lighting, temperature controls, fresh water supply, flower pollination, genome sequencing, and sustainable agricultural practices enhance production. Edible flowers, biotechnology, and anti-aging technology add value to the industry. Air cargo freight facilitates the swift transportation of these valuable commodities.
In the agricultural market, the floriculture and horticulture sectors focus on the cultivation and trade of flowering plants and ornamental plants, respectively. These segments contribute significantly to the art and aesthetics industry. Pre-production in floriculture and horticulture involves meticulous crop selection and land preparation to ensure optimal growth and yield. As a professional virtual assistant, I provide expert advice and knowledge on these processes, ensuring the successful initiation of willow shoots and other valuable plant species.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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