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The predicted growth for the floriculture market share in Malaysia from 2021 to 2026 is USD 220.97 million at a CAGR of 3.15%.
This floriculture market in Malaysia forecast report extensively covers segmentations by:
The Malaysia floriculture market report offers information on several market vendors, including Black Tulip Group, Dummen Orange, Floristika.com.my Sdn Bhd, I-Tech Farming Solution (M) Sdn Bhd, Paling Horticulture Sdn Bhd, Splendid Floriculture Sdn Bhd, Syngenta AG, Waltex Biotec Sdn. Bhd., Weeds and More Pte Ltd., and Yayasan Sabah Group among others. Furthermore, our analysts have provided valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches for the coming years.
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The use of flowers and plants for decorative or aesthetic purposes is notably driving the floriculture market growth in Malaysia, although factors such as over-dependence on climatic conditions may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the floriculture industry in Malaysia. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Floriculture Market Driver in Malaysia
The use of flowers and plants for decorative or aesthetic purposes is one of the key drivers supporting the Malaysia floriculture market growth. The growing domestic and housing property market in Malaysia has led to greater demand from the landscaping industry. In 2020, the shrubs, flowers, and planting media categories dominated the gardening and outdoor living market in Malaysia and contributed to over 40% of the market. Factors such as the growing disposable income of households, which is encouraging individuals to spend more on their gardens. Meanwhile, the availability of several varieties of flowering plants, and the increasing desire among individuals to enhance environmental sustainability will continue to play a key role in market growth during the forecast period.
Key Floriculture Market Trend in Malaysia
The increasing use of biotechnology in floriculture is one of the key floriculture market trends in Malaysia supporting the market growth. In floriculture, biotechnology is being used in changing the color of flowers from their naturally occurring colors. The use of biotechnology can also help flowers survive in extreme climatic conditions, thus reducing risks for growers. For instance, Monsanto is working on anti-aging technology for flowers. This technology can help prevent flowers from wilting and can help them last longer. Flowers with a short lifespan are transported using air cargo freight from the country of production to the customer in a different country. Thus, this can reduce the dependence of exporters on air freight, which is expensive, and instead allow flowers to be transported using a cheaper mode of transport like seaways. Such factors will drive market growth during the forecast period.
Key Floriculture Market Challenge in Malaysia
The over-dependence on climatic conditions is hindering the Malaysia floriculture market growth. The floriculture industry is highly dependent on the prevailing climatic conditions. Shorter and wetter days and the lack of sunlight can interfere with the healthy growth of certain kinds of ornamental plants. At the same time, the adverse impact of global climate change can be seen in leading flower-producing countries, such as Malaysia. The country has been affected by the below-average rainfall over the past several years. In addition, the limited supply of freshwater and drought-like conditions threaten flower production in the country and, thereby, the supply chain in the industry. Moreover, rising temperature as a result of global warming is adversely affecting flower pollination. Such rapid change in climate will impede the market growth during the forecast period.
This floriculture market in Malaysia analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the floriculture market in Malaysia as a part of the global agricultural products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the floriculture market in Malaysia during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the Malaysia floriculture market encompasses successful business strategies deployed by the key vendors. The floriculture market in Malaysia is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The floriculture market in Malaysia forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the floriculture market in Malaysia, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the agricultural products market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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The floriculture market share growth in Malaysia by the chrysanthemum segment will be significant during the forecast period. Chrysanthemums hold cultural significance in Malaysia, as they are considered auspicious and are used as common decorative flowers during occasions such as marriages or local festivals. Moreover, they are available in a wide variety of flowers and bloom sizes. Thus, this is increasing the demand for chrysanthemums in the country for various decorative purposes on several occasions.
This report provides an accurate prediction of the contribution of all the segments to the growth of the floriculture market size in Malaysia and actionable market insights on post COVID-19 impact on each segment.
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Floriculture Market Scope in Malaysia |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 3.15% |
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Market growth 2022-2026 |
$ 220.97 million |
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Market structure |
Concentrated |
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YoY growth (%) |
3.35 |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Black Tulip Group, Dummen Orange, Floristika.com.my Sdn Bhd, I-Tech Farming Solution (M) Sdn Bhd, Paling Horticulture Sdn Bhd, Splendid Floriculture Sdn Bhd, Syngenta AG, Waltex Biotec Sdn. Bhd., Weeds and More Pte Ltd., and Yayasan Sabah Group |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Sales type
Customer landscape
Vendor Landscape
Vendor Analysis
Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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