Artificial Plants Market: Current Analysis and Forecast (2021-2027)
Emphasis on Product Type (Stem Flowers, Whole Plants & Trees, Wood & Branches, Grass, Others); Material Type (Silk, Plastics, Rubber, Paper, Others); End-Use Type (Commercial, Residential); Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Specialty Stores, Online, Others); Region/Country
Global Artificial Plants Market was valued at US$ ~700 Million in 2020 and is anticipated to display an elevated CAGR of ~5% over the forecast period (2021-2027).
A growing trend of interior design owing to the surging disposable income due to the rising number of working couples, emerging nuclear families, etc. is leading to the growing demand for the artificial plants market. The preference for artificial plants over natural ones is booming due to the factors such as less maintenance, more durability, etc., As per Horticultural Trades Association (HTA), UK households spend around USD 8.74 billion on gardening goods and a further USD 2.80billion on gardeners and landscapers each year. Also, 34% of gardeners in the UK are turning to landscape professionals, such as artificial grass specialists, to help us to create a more inviting outdoor space and 39% of gardeners are planning to spend, or have spent, more than US$ 2906.95 upgrading our garden.
Growth in the construction industry in the areas of commercial and residential is one of the key factors driving the market in the North America Artificial plants market. As per a renowned management consulting firm, From 2009 to 2017, US hotel gross bookings grew from $116 billion to $185 billion. Moreover, the restaurant industry grew by 4.4% whereas the hotels’ industry grew by 6% during 2009-17.
Moreover, the offering of artificial plants made up of good material is gaining consumers’ traction. Modern artificial grass contains anti-bacterial properties, which help prevent the spread of bacteria and germs. Furthermore, unlike natural grass, the product is not exposed to hazardous pesticides, which makes it both children and pet-friendly.
Countries Annual Spend on Interior Design (USD Per Capita) per Year
The GreenHouse, Treelocate Ltd., Share trade Artificial Plant and Tree Co., Ltd., International Plantworks, Nearly Natural, J. S. Flower Company Limited, Commercial Silk Int’l & Plantscape Inc, China Silk Flower Factory, GreenTurf, and International TreeScapes, LLC, etc, are some of the prominent players operating in the Artificial Plants market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst Product Type, Whole plants and Trees segment holds the major share”
Based on the Product Type, the market is fragmented into Stem Flowers, Whole Plants & Trees, Wood & Branches, Grass, and Others. The whole plants and trees segment grabbed considerable market share and captured XX% market share in the global artificial plants market in 2020. Moreover, the market would witness a sharp rise in the forthcoming years owing to surging disposable income. However, the grass segment would witness sky-rocked growth in the forecast period of 2021-2027F
“Amongst End-Use Type, Commercial segment to dominate the market during the forecast period”
Based on the End-Use type, the market is fragmented into Commercial and Residential. The Commercial segment grabbed major market share and dominated the market in 2020. However, the residential segment would emerge in the forecast period and would witness a considerable CAGR during the forthcoming period.
“Amongst Material Type, Plastics segment to dominate the market during the forecast period”
Based on the Material Type, the market is fragmented into Silk, plastics, rubber, paper, and Others. The plastics segment grabbed major market share and dominated the market in 2020. Moreover, the market of this segment would reach USD XX Mn by 2027. However, the rubber segment would witness the highest CAGR during the forthcoming years
“Amongst Distribution Channel Type, Supermarket/ Hypermarket segment to dominate the market during the forecast period”
Based on the Distribution channel Type, the market is fragmented into Supermarkets & Hypermarkets, Convenience Stores, Specialty Stores, Online, and others. The supermarket/ hypermarket segment grabbed major market share and dominated the market in 2020. Moreover, the market of this segment would reach USD XX Mn by 2027. However, the online segment would witness the highest CAGR during the forthcoming years
“North America represents one of the largest markets of Artificial Plants market”
For a better understanding of the market dynamics of the Artificial Plants market, a detailed analysis was conducted for different regions across the globe including North America, Europe, Asia Pacific, and the Rest of the world. North America dominated the market and generated the leading revenue share in 2020 owing to the rising working women coupled with the offering of artificial plants of new good materials.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
Customization Options:
The Artificial Plants Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Artificial Plants Market were the three major steps undertaken to create and analyze the demand for Artificial Plants across major regions. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Artificial Plants market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/ bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the Artificial Plants through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Artificial Plants market, we conducted a detailed secondary analysis to gather historical market insights and share for Product Type, Material Type, Distribution channel, and End-Use for major regions. Major segments included in the report are Material and Product Type. Further region and country-level analyses were conducted to evaluate the overall adoption of Artificial Plants across the globe.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Artificial Plants. Further, we conducted factor analysis using dependent and independent variables such as growth in the disposable income, rising investment in home décor, etc., A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Artificial Plants industry across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Artificial Plants market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. bottom-up/ top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of Artificial Plants across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Artificial Plants market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Artificial Plants market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product type, material type, distribution channel, and end-user of the Artificial Plants market.
Main Objective of the Artificial Plants Market Study
The current & future market trends of Artificial Plants were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Artificial Plants in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product type, material type, distribution channel, and end-use.
- Define and analysis of the regulatory framework for the Artificial Plants industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Artificial Plants market for the major countries
- The major region studied in the report includes North America, Europe, Asia- Pacific, and the Rest of the World.
- Company profiles of the Artificial Plants market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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November 7, 2024
