Market Size of Singapore Floriculture Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 29.90 Million |
| Market Size (2029) | USD 41.92 Million |
| CAGR (2024 - 2029) | 7.00 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Singapore Floriculture Market Analysis
The Singapore Floriculture Market size is estimated at USD 29.90 million in 2024, and is expected to reach USD 41.92 million by 2029, growing at a CAGR of 7% during the forecast period (2024-2029).
- Singapore is one of the leading countries in orchid cut-flower export. Rosa, Lily, peonies, Orchids, Frangipani, Jasmine, and Hibiscus are the top 7 flowers that are grown in Singapore. Lily is used in traditional Asian medicine for the treatment of depression and certain types of toxicities, and orchids, the national flower of Singapore, are used for decorative purposes and for creating flower arrangements or bouquets.
- Peonies are usually sold as cut flowers and used in commercial bouquets by florists. These large flowers have a fragrant scent and are known as the Chinese king of flowers. You can usually find peonies in shades of white, pink, and red.
- According to the ITC Trade Map, Singapore imported USD 42.8 thousand value of cut flowers in 2021. Malaysia, China, Netherlands, and India are the major exporters of flowers to Singapore. High domestic demand and rising investments in projects and growing use of technology are the factors that are driving the growth of the market.
Singapore Floriculture Industry Segmentation
Floriculture is a type of horticulture practice that focuses on the cultivation of flowering and ornamental plants for gardens and for commercial use. The report presents an in-depth analysis of the market size of different types of flowers popular in the Singapore floriculture market. The report incorporates an in-depth analysis of the value chain and trade analysis of the Singapore Floriculture market.
The Singapore Floriculture Market is segmented by Type (Rosa, Tulip, Chrysanthemum, Gerbera, Freesia, Lily, Orchids, Nursery Stocks, and Other Types of Flowers). The report offers market size in terms of value (USD Thousand ) for the above-mentioned segments.
| Type of Flower | |
| Rosa | |
| Tulipa | |
| Chrysanthemum | |
| Gerbera | |
| Freesia | |
| Lily | |
| Orchids | |
| Nursery Stocks | |
| Other Types of Flowers |
Singapore Floriculture Market Size Summary
The Singapore floriculture market is poised for significant growth, driven by its status as a leading exporter of orchid cut-flowers and a burgeoning domestic demand for various floral products. The market is characterized by a diverse range of flowers, including lilies, peonies, and hibiscus, with orchids holding a special place as the national flower. The country's high-income economy and business-friendly regulatory environment foster a competitive market landscape, encouraging investments and technological advancements in the floriculture sector. The cultural significance of flowers, particularly during special occasions like Valentine's Day, further propels market growth, as consumers increasingly opt for premium floral arrangements and bouquets.
The demand for fresh flowers in Singapore is closely tied to fashion trends and emotional associations, with roses being a particularly popular choice due to their fragrance and variety. The market sees a surge in rose consumption, especially during the first quarter of the year, coinciding with Valentine's Day, leading to increased imports from countries like Kenya. Retailers such as Kampong flowers and Far East Flora play a crucial role in meeting this demand. Additionally, initiatives like the Gardens by the Bay's flower trial showcase efforts to diversify plant sources and adapt to the tropical climate, supporting the ongoing expansion of the floriculture market in Singapore.
Singapore 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 Industry Attractiveness - 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 Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitutes
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1.4.5 Intensity of Competitive Rivalry
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1.5 Country Profile
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1.5.1 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Type of Flower
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2.1.1 Rosa
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2.1.2 Tulipa
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2.1.3 Chrysanthemum
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2.1.4 Gerbera
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2.1.5 Freesia
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2.1.6 Lily
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2.1.7 Orchids
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2.1.8 Nursery Stocks
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2.1.9 Other Types of Flowers
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Singapore Floriculture Market Size FAQs
How big is the Singapore Floriculture Market?
The Singapore Floriculture Market size is expected to reach USD 29.90 million in 2024 and grow at a CAGR of 7% to reach USD 41.92 million by 2029.
What is the current Singapore Floriculture Market size?
In 2024, the Singapore Floriculture Market size is expected to reach USD 29.90 million.
