The Global Floral Gifting Market was estimated at USD 50.10 billion in the year 2020, and is expected to reach USD 76.22 billion by 2027. The market is growing with a CAGR of 6.1%, in the forecast period (2017-2027). channels.
With the rising technological advancement across the globe, the florist gifting companies are also switching to the online sales channel. As it helps in providing door service and provides various discounts. Most of the key companies are switching to the online channel either by their own website or are partnering with third-party providers. In addition, they can order the product via smartphone apps also, this further creates new revenue pockets for the company. FTD is focusing its efforts on technology, moving from on-premises data centers to Google Cloud Platform to enable continuous delivery of software and services. FTD decided to build a cloud-native architecture on Google Cloud Platform (GCP) to speed development for its new e-commerce sites.
The research report analyses the ecosystem of the floral gifting market and categorizes the floral gifting market to forecast the revenues and analyze the trends in each of the following below-mentioned market segments.
By Gift Type, Personal Gifting is expected to witness a high growth rate during the forecast period
Based on product type, the floral gifting market has been segmented as personal gifting and corporate gifting market. Personal gifts are a tradition for many special occasions, such as giving chocolates to someone on Valentine's Day. However, marketers of floral gifts have opportunities to reach new consumers and to promote their products for everyday occasions as well as holidays.
Marketers should also play up other benefits of floral giftings, such as convenience and the ability to be given to groups or people whose personal preferences may not be known. Initially, the personalized gifting was limited to photo frames, photo mugs, and pillows. However, factors like creative packaging, personalized notes, etc. have accelerated the demand for personalized gifting; as such gifts render a seamless gifting experience displaying extra efforts and emphasizing care, thankfulness, and gratitude for the receiver.
By Occasion, the wedding is estimated to be a larger type market in the floral gifting market in 2019
Based on the occasion, the market has been categorized as weddings, birthdays, anniversaries, corporate events, funeral/sympathy, and others. Among which the wedding segment is dominating the market in the year 2019. Flowers hold a very special place in weddings and events. They add a certain flavor to the event by adding different colors, contrasts, shapes, and sizes. They are not necessarily the first things that are chosen, but definitely not the last.
The colors that the Bride has chosen will be carried out in the theme of the wedding. The flowers always reflect that decision, even if one has not seen any other decorations yet other than the flowers. Flowers do have specific symbolism and meaning.
The key player's operation in the global floral gifting market includes FTD Companies, 1-800-Flowers.com, Teleflora, From You Flowers, LLC, 5th Ave Floral Co., Avas Flowers, BloomNation, BloomsyBox, BloomsToday, among others. The market dominance of these companies is characterized by their vast product portfolio of floral gifting, high investment in R&D activities for floral gifting, revenue, capital expenditure, employee strength, and geographical presence of companies.
|Sr. No.||Investment Scenario||Impact|
|1||Nigerian start-up makes money investing in flowers- FloralInvestments.com offers investors a unique opportunity to invest in the ever-expanding market of flowers. Right across the world, millions of people buy flowers as gifts every single day and floriculture is one of the most stable and profitable markets on the planet.||Positive|
|2||Partnership with online platform service providers where they can offer direct mail, print advertising, and an easy-to-use website, in-store events, such as book signings, cheese tastings, and art showings, that coincide with other neighborhood gallery openings facilities.||Positive|
The unique insights provided by floral gifting market report also includes the following:
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.