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Mior part (1).docx - Market Analysis The global flower...

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Market AnalysisThe global flower market size was valued at USD 5 billion in 2021 and theglobal ornamental plants and flower market is projected to grow at a CAGR ofaround 6.3% in the 2021–2025 period. By 2024, the global floral market will reach anestimated $57,400 million based on the latest floriculture statistics. This represents asignificant increase from the 2019 figures when the market was worth $42,400[ CITATION Her21 \l 1033 ]Annual important occasion that are celebrated worldwide like religioncelebration, birthdays, Valentine’s day and etc, increased the demand of fresh cutflowers yearly and drives the market growth. As end-users realize just how importantthe use of fresh flowers especially during big events of their life, these products havegained widespread attention.Moreover, eco-friendly gifts are witnessing high demand as a consequence ofthe awareness on environmental perspective. FLORIA is getting the right attentionfrom buyers that are looking for quick fresh flower delivery and reliable service dailydue to our exceptional team members and professional in-house florists. Fromtraditional bouquet to wedding hand bouquet to get well soon basket bouquet andmany more.
The figures from the flower industry show that while the Coronavirus pandemicstorms retailers, the global flora and ornamental plants market is steadily expandingover the coming years. The global demand for cut flowers, expected to reach $41.1billion, is projected to rise by 2027 despite the Coronavirus pandemic in 2020.On the other hand, because of the current situation that the whole world is facing,many workers are forced to quit their job and even switch profession. This may leadto the increase of new self-business owners like home-based florists which alsomean more competition to FLORIA. However, due to the Movement Control Orderthat have been implemented since the Covid-19 last year, the people has also beenstaying home and spending more towards online shopping. Therefore, FLORIA is stillgoing strong as the government restriction do not hinder our usual operation hoursnor disrupt our nature of business.
Malaysia flower market in the projectile trend with the data recorded by theDepartment of Statistic Malaysia from 2015 to 2019 for cut flower. In 2015 it wasrecorded that 510,290,000 number of cut flower are produced, 2016 data record asignificant decrease to 500,084,000 number of cut flower produced, 2017 datarecord a healthy increase to 509,086,000 number of cut flower produced, 2018 datashow that the number of cut flower keep increasing to 518,249,000 and the numberin 2019 show a significant increase to 528,096,000 number of cut flower produced inMalaysia as show in below graph.20152016201720182019485,000,000490,000,000495,000,000500,000,000505,000,000510,000,000515,000,000520,000,000525,000,000530,000,000535,000,000Cut Flower Produced in MalaysiaYearNumber of CutSource: Ministry of Agriculture and Food IndustriesAs of the time this data was recorded, the number of local florists is currentlyestimated at 886 people with the estimated of land area for commercial flower cropsthroughout the country with constant records of 2,700 hectares. Based on the

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Term
Spring
Professor
NoProfessor
Tags
Floria

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