The artificial flowers market, valued at USD 1,637.64 million in 2023, is expected to reach USD 2,275.33 million by 2030, with a CAGR of 4.57%. Post-pandemic, the surge in festival celebrations has driven demand for artificial flowers, attracting new market entrants. Additionally, event management companies' increased requirement for floral arrangements during festivals is further propelling market growth. Fortune Business Insights presents these insights in its report titled "Artificial Flowers Market, 2024-2030".

Information Source:

https://www.fortunebusinessinsights.com/artificial-flowers-market-104459 

List of Key Players Profiled in the Artificial Flowers Market Report:

• FRS Holding S.R.L. (Evergreens) (Italy)
• Diane James Designs, Inc. (U.S)
• Dongguan Fusheng Arts Products Co., Ltd (China)      
• Artificial Flower Factory (India)
• Tree Locate (Europe) Limited (U.K.)
• Foshan Tongxin Artificial Flowers Co., Ltd (China)
• NGAR TAT Production Fty. Ltd. (Hong Kong)
• Oriental Fine Art Co., Ltd. (Thailand)
• Xuzhou Pleasant Arts Flower Co., Ltd (China)
• SG Silk Flower Limited (China)

Segments:

1. Material Dynamics: Polyester Emerges as Market Leader
   Among materials like polyester, plastic, paper, silk, nylon, and others, polyester dominated the market in 2022 due to its durability, cost-effectiveness, and compatibility with dyes and glues.

2. Commercial Application: Growing Adoption in Hotels and Shops
   In terms of application, the commercial segment secured the largest global market share in 2022, driven by increased adoption in commercial settings such as corporations, hotels, and shops for decorative purposes.

3. Distribution Channels: Offline Channels Take Center Stage
   The offline segment is poised to capture a significant market share due to easy product accessibility in retail outlets, including specialty stores, supermarkets, and hypermarkets.

Geographical Insights:
The market is geographically divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage:
The report offers insights into drivers, opportunities, threats, and challenges shaping market dynamics, alongside growth rates, market share, valuation, and revenue breakdown by region and segment. Key players' strategic developments and measures to combat the impact of COVID-19 are also analyzed.

Competitive Landscape:
Market players are launching new products to drive market augmentation, with strategic initiatives including partnerships, collaborations, mergers, and acquisitions. For instance, Flourish Trading unveiled its exclusive collection of luxury artificial flowers in January 2019.

Drivers:
Innovative product adoption and new launches drive market growth. Market players are introducing floral stems, bushes, and branches in diverse designs, colors, and materials, encouraging the adoption of innovative products. However, rising consumer awareness of plastic pollution and environmental protection may hinder market growth.

Regional Insights:
Europe dominates the market share due to increased product adoption in the hospitality sector, with players engaging in mergers and acquisitions to gain a competitive edge. Meanwhile, the Asia Pacific market is set for significant expansion, driven by rising consumer spending on decorative items and the growing urban population's adoption of urban lifestyles and e-commerce platforms.