June 22, 2024

Ornamental Sunflower Market Is Flourishing Due To Rising Trend Of Home Gardening

The global ornamental sunflower market has witnessed significant growth owing to the increasing popularity of ornamental plants for home and commercial landscaping. Ornamental sunflowers are widely used as flowering plants in gardens and parks due to their bright and colorful blooms that add aesthetic charm. The variety in shapes, sizes and vivid colors that include yellow, bronze, red, burgundy and orange offered by ornamental sunflowers enhances the appeal of landscapes. Cultivation of sunflowers does not require extensive care and their hardy nature makes them suitable for growing in different climatic conditions.

The Global ornamental sunflower market is estimated to be valued at US$ 64.0 BN in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 to 2031

Key Takeaways
Key players operating in the ornamental sunflower market are Pfizer Inc., Novartis AG, Sanofi, Johnson & Johnson, GlaxoSmithKline plc, Merck & Co., Inc., Eli Lilly and Company, Boehringer Ingelheim, AstraZeneca plc, Bristol Myers Squibb, Roche Holding AG, AbbVie Inc., Biocon Limited, Lonza Group, Teva Pharmaceutical Industries Ltd. The major players are focused on new product launches and expansion of production facilities globally to strengthen market presence.

The demand for ornamental sunflowers is increasing owing to the rising trend of home gardening and landscaping activities among individuals. Consumers are increasingly opting for sustainable and eco-friendly options for their gardens and lawns which is fueling the growth of the market.

The global players are expanding their presence in developing markets like Asia Pacific and Latin America to leverage the high growth opportunities. Countries like India, China, Brazil offer immense potential due to the increasing interest of people in horticulture as a hobby.

Market key trends

One of the key trends gain traction in the ornamental sunflower market size is the increasing demand for organic and chemical-free varieties. Under the influence of growing environmental concerns, consumers are preferring natural and organic flowering plants that do not involve the use of synthetic pesticides and fertilizers. Seed companies are launching new hybrid varieties that are naturally resistant to common pests to cater to the requirements of organic gardeners. This growing popularity of organic ornamental plants will further propel the market growth over the forecast period.

Porter’s Analysis
Threat of new entrants: Entry of new players in ornamental sunflower market is difficult due to capital requirements and intellectual property rights.
Bargaining power of buyers: Buyers have low bargaining power due to the availability of various ornamental sunflower varieties from different geographical regions.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes and fragmented nature of ornamental sunflower seed suppliers.
Threat of new substitutes: Threat from new substitutes like ornamental lilium, rose, carnation is low as ornamental sunflowers have distinct advantages like vibrant colour, longevity.
Competitive rivalry: Intense competition exists among existing players to launch new varieties and increase penetration in emerging countries.

Geographical regions where market in terms of value is concentrated:
North America holds the largest share of ornamental sunflower market due to increasing demand for cut flowers and garden plants. Germany and France are the major revenue contributors in Europe due to growing do-it-yourself trend.

Fastest growing region for the ornamental sunflower market:
Asia Pacific region is expected to witness the highest CAGR during the forecast period. Rising middle class population and increasing expenditure on home and garden décor in countries like China and India is fueling the growth of ornamental sunflower market in Asia Pacific.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it