ID: MRFR/CR/9104-HCR | June 2021 | Region: Global | 90 pages
$780.3 million
4.15%
North America
2021 to 2028
Market Scenario
Artificial plants market size is projected to reach approximately USD 780.3 million by 2028, at a CAGR of 4.15% from 2021 to 2028. Artificial plants are also known as faux plants. These plants are made of a variety of materials such as silk, polyester, paper, cotton, parchment, rubber, and others. However, polyester is a highly preferred material by manufacturers for the production of artificial plants owing to the availability and low cost of the raw material. Artificial plants have applications in both commercial and residential settings. Consumers highly prefer them because they increase the aesthetics of the place and can sustain in any weather condition without any maintenance cost.
COVID-19 Analysis
The outbreak of COVID-19 has affected almost every industry, and the long-term effects are expected to impact the industry growth during the forecast period. The pandemic has considerably affected the global economy—the GDP of numerous countries reduced tremendously in the first quarter of 2020. The pandemic has resulted in a crisis; therefore, the purchase ofnon-essential commodities has declined significantly worldwide. The artificial plants market has experienced a considerable downfall during the COVID-19 pandemic. Massunemployment and almost all offices starting their operations from home have reduced the demand for artificial plants in the commercial sector as well as households.
COVID-19 has significantly impacted the economies of almost all countries worldwide.The revenues of several industries—including tourism and retail—have been affected substantiallydue to the pandemic. Furthermore, industries such as real estate, manufacturing, and construction buildings had slowed down their function and production owing to the restrictions on the flow of logistics and availability of human resources. Moreover, shopping malls, restaurants, specialty stores, supermarkets, offices, and tourism have been completely shut to prevent the spread of the disease; this has caused a down wave in demand for artificial plants market. COVID-19 has triggered a shift of retail companies to online platforms, along with strategically shrinking their offline layout. COVID-19 has affected many industries and supply chains largely.
However, the market prospect for artificial plants is still bright. In the coming years, the market is expected to undergo extensive growth; this is because artificial plants are trendy, require almost no maintenance can sustain in any weather, and make the surroundings look aesthetically appealing. Moreover, improvements in technology and design in artificial plants have resulted in an increased demand for artificial plants among consumers. These factors are expected to drive the global artificial plants market during the forecast period.
Market Synopsis
The global artificial plants market is expected to experience significant growthin the near future. The demand for artificial plants has increased rapidly in the last few years due to improved technology and designs in the products. Moreover, artificial plantsdo not need any maintenance costs and last for a longerperiod of time; this is expected to boost the demand for artificial plants in the next few years. Furthermore, artificial plants are gaining immense popularity among the millennial. The lack of time required for caring for real plants is expected to drive the growth of theglobal artificial plants market.
Additionally, some people tend to develop allergies to certain types of real plants, which is not the situation with artificial plants; this factor is further increasing the acceptance of artificial plants among consumers. However, artificial plants neither release oxygen in the air nor help in reducing volatile organic compoundsfrom the air, as opposed to real plants; this factor is expected to restrain the growth of the artificial plants market.
Market USP
No maintenance cost and longer shelf life.
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Segmentation
By ProductType
Whole Plants & Trees: The whole plants & trees segment held the largest share in the global artificial plants market for the product type segment. These plants increase the aesthetics of the place and need no investment of time of money for its maintenance. This helps consumers in easy accessibility of whichever plants they want in any season. This drives the growth of the global artificial plants market.
Stem flowers
Wood & Branches
Grass
Others
By Material Type
By End Use
By Distribution Channel
By Region
Competitive Landscape
Some of the key players operating in the artificial plants and flowers business areThe Green House (India), Treelocate Ltd. (UK), Sharetrade Artificial Plant and Tree Co., Ltd. (China), International Plantworks (US), Nearly Natural (US), J. S. Flower Company Limited (Thailand), Commercial Silk Int'l & Plantscape Inc (US), China Silk Flower Factory (China), GreenTurf (Singapore), and International TreeScapes, LLC (US). These players are expected to positively influence the global artificial plants market growth during the forecast period.