Market Size of Malaysia Floriculture Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 1.12 Billion |
| Market Size (2029) | USD 2.31 Billion |
| CAGR (2024 - 2029) | 15.66 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Malaysia Floriculture Market Analysis
The Malaysia Floriculture Market size is estimated at USD 1.12 billion in 2024, and is expected to reach USD 2.31 billion by 2029, growing at a CAGR of 15.66% during the forecast period (2024-2029).
- The market is witnessing growth due to factors such as growing export potential and government support to increase cut flower production. Among the temperate flowers, the chrysanthemum segment of the market studied was the largest segment in 2022, with a consumption value of USD 30,978.8 thousand. Chrysanthemum has the potential for further expansion during the forecast period due to large acres of production. The growers' high-quality outputs are held to a strict SOP standard, and there is a substantial global market for it. Growers in the country play an essential role in the distribution channel of flowers in both domestic and foreign markets.
- Over the long term, the increasing export demand is anticipated to drive the market's growth. Japan, Thailand, Singapore, and Australia are the major countries importing cut flowers from Malaysia. China, India, the Netherlands, and Indonesia are the major countries exporting cut flowers to Malaysia.
Malaysia Floriculture Industry Segmentation
Floriculture is a type of horticulture practice that focuses on cultivating flowering and ornamental plants for gardens and commercial use.
The Malaysian floriculture market is segmented by flower type (orchids, rosa, chrysanthemum, carnation, aster, gerbera, lily, and other flowers).
The report offers the market size and forecasts in terms of value in USD million and volume in metric ton for the above segment.
| Flower Type | |
| Orchids | |
| Rosa | |
| Chrysanthemum | |
| Carnation | |
| Aster | |
| Gerbera | |
| Lily | |
| Other Flowers |
Malaysia Floriculture Market Size Summary
The Malaysia floriculture market is poised for significant growth, driven by increasing export potential and supportive government initiatives aimed at boosting cut flower production. The market is characterized by a diverse range of floriculture species, with chrysanthemums leading the segment due to their expansive production capabilities and adherence to strict quality standards. The country's strategic position as a major exporter of cut flowers, particularly to countries like Japan, Thailand, Singapore, and Australia, underscores its growing importance in the global floriculture landscape. The government's focus on developing high-value industries, as outlined in the National Agro-food Policy, has further propelled the sector, with plans to expand cultivation areas and establish commercial nurseries to meet rising demand.
Government support plays a crucial role in the market's expansion, with initiatives such as public-private partnerships and financial incentives designed to attract investments and enhance export capabilities. The introduction of tax reliefs and export allowances for local companies exporting floriculture products has been instrumental in fostering a competitive industry. Malaysia's strategic efforts to increase the area under floriculture production and improve support services are expected to drive market growth during the forecast period. The country's commitment to developing a robust logistics and marketing network, as seen in the Malaysian Floriculture Industry Development Policy, further reinforces its position as a key player in the global floriculture market.
Malaysia Floriculture Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Flower Type
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2.1.1 Orchids
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2.1.2 Rosa
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2.1.3 Chrysanthemum
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2.1.4 Carnation
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2.1.5 Aster
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2.1.6 Gerbera
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2.1.7 Lily
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2.1.8 Other Flowers
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Malaysia Floriculture Market Size FAQs
How big is the Malaysia Floriculture Market?
The Malaysia Floriculture Market size is expected to reach USD 1.12 billion in 2024 and grow at a CAGR of 15.66% to reach USD 2.31 billion by 2029.
What is the current Malaysia Floriculture Market size?
In 2024, the Malaysia Floriculture Market size is expected to reach USD 1.12 billion.
