The turnover of retail flower markets in China has seen a dynamic trajectory from 2013 to 2023. By 2023, the market value stood at 463.1 billion yuan. Over the years, there were notable fluctuations, with the highest year-on-year growth of 52.49% in 2016. Key growth periods were between 2013 and 2017, showcased by consistent year-on-year increases, and a notable dip of -5.54% in 2019. The most recent years (2022-2023) saw steady growth, with year-on-year variations of 6% and 6.09%, and the last five-year CAGR settling at 4.8%.”.
Looking forward to the period from 2024 to 2028, the market is forecasted to grow at an average annual rate of 3.94%, reaching 593.9 billion yuan by 2028. This indicates a projected overall growth rate of 21.33% over the five years.
Future trends to watch for:
- Impact of emerging e-commerce platforms on flower retail
- Consumer preference shifts towards sustainable and locally-sourced flowers
- Potential regulatory changes affecting import and export of flowers
- Technological advancements in supply chain logistics and quick delivery services
