The import of flower seeds for sowing to Saudi Arabia has demonstrated considerable volatility over the past decade. From a sharp increase of 90.09% in 2013, the market experienced dramatic fluctuations, including significant downturns in 2015 (-87.98%) and 2016 (-24.11%). However, the market rebounded in 2017 with a substantial increase of 297.58%. Subsequent years saw a more stable but fluctuating trend, culminating in a value of $1.3995 million in 2023, continuing the upward trajectory since 2018.
From 2020 to 2023, the market showed a relatively steady growth rate, with year-on-year variations of -1.34%, 9.09%, 3.44%, and 3.26%, respectively. The compound annual growth rate (CAGR) over the last five years stands at a modest 0.27%. Looking forward, the forecast predicts a continued but tempered growth rate, with a forecasted 5-year CAGR at approximately 2.4%, expecting the market to reach $1.6301 million by 2028.
Future trends to monitor include potential policy changes affecting agricultural imports, advances in seed technology, and fluctuations in national economic conditions that might influence spending power on non-essential imports like flower seeds. Additionally, environmental factors and climatic changes could also play a significant role in shaping the demand for imported flower seeds in Saudi Arabia.
