Latest News- Floriculture Market in Malaysia: Chrysanthemum is expected to lead the Type segment during 2024-2028
The Floriculture Market in Malaysia is being driven by Use of flowers and plants for decorative/aesthetic purposes
The Floriculture Market in Malaysia is expected to grow at a CAGR of 3.3% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 233.7 million. In the floriculture industry, biotechnology is revolutionizing the production of uniquely colored flowers through genetic modification. This innovation can increase market demand for such flowers, such as blue roses, and enable them to thrive in harsh climates, thereby reducing risks for growers. For instance, Monsanto's anti-aging technology for flowers can prevent wilting and extend their shelf life, allowing for more cost-effective transportation via seaways instead of expensive air freight for flowers with short lifespans. Biotechnology's role in enhancing floriculture's productivity and sustainability is significant, offering numerous benefits to stakeholders.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Type (Chrysanthemum, Rose, Carnation, Others) Channel (Domestic, Exports) 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 Malaysia Research Report
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The Floriculture industry in Malaysia encompasses the cultivation of various plants, including flowers, leaves, and ornamental foliage, for aesthetic delight and commercial exchange. Floral crops such as cut flowers, potted plants, and bedding plants are grown in greenhouses for personalization and customization, catering to the demands of hotels, spas, and direct-to-consumer sales models. Floriculture also includes the cultivation of woody ornamentals, chestnut shoots, plum blossoms, maple leaves, and willow shoots for basket weaving. Technological advancements have enhanced the industry, allowing for the production of a diverse range of crops like lavender and various ornamental plants.
In the agricultural sector, the floriculture and horticulture segments encompass the cultivation of ornamental plants, including flowers, leaves, and foliage. Floriculture specifically focuses on the production of cut flowers, potted plants, and bedding plants for aesthetic delight and commercial exchange. Pre-production processes in this market involve strategic crop/species selection and meticulous land/pond preparation to ensure optimal growth and yield. These stages are crucial in delivering high-quality products that cater to the diverse demands of the decoration industry and consumers seeking to enhance their living spaces.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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