The flowers production value in Austria observed in 2023 stood at 442.52 million Euros, showing a marginal year-on-year increase of 1.55%. Analyzing the data from 2013 through 2023, there's been a general upward trend with some fluctuations. Significant growth was noted in 2015 at 13.57% year-on-year and 2021 at 8.09%. However, there were dips in 2017 and 2019. The Compound Annual Growth Rate (CAGR) over the last five years from 2018 to 2023 is approximately 2.88%, reflecting a steady increase in production value.
Projecting into the future, the forecasted data from 2024 to 2028 suggests a continued, albeit slower, growth trend with a 5-year CAGR of 1.16% and an overall forecasted growth rate of 5.91%. Flowers production value is expected to reach 475.82 million Euros by 2028.
Future trends to watch for:
- Automation and technological advancements in flower cultivation
- Increasing demand for organic and sustainably-grown flowers
- Potential impacts of climate change on flower production
- Shifts in consumer preferences towards local flowers
- Development of new flower varieties and hybrids
