The ornamental sunflower market comprises a wide variety of hybrid sunflower seeds which are grown for their aesthetic value rather than agricultural use. Sunflowers are a popular choice for ornamental use as they add a vibrant pop of color to gardens and landscapes.
The large flower heads can range from less than 3 inches to over 25 inches in diameter with an array of colors including yellow, orange, red, burgundy, and bicolored. Sunflowers are also quite hardy and can adapt to different climates and soil conditions. They attract pollinators like bees and birds while also cleaning the surrounding soil of contaminants making them a sustainable landscaping option.
The Global Ornamental Sunflower Market is estimated to be valued at US$ 95.36 Mn in 2024 and is expected to exhibit a CAGR of 4.1% 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 growing popularity of urban farming and backyard gardening has boosted the demand for ornamental sunflower seeds. Furthermore, expansion of major seed companies into new geographies especially in Asia and Latin America is expected to offer lucrative growth opportunities.
Market key trends
The trend of urban farming through community gardens, rooftop gardens, and backyard vegetable patches has been on a rise over the past decade. Cultivating edible and ornamental plants has psychological and environmental benefits. It is a stress-busting activity that also helps in local food production and creating green spaces in dense urban setups. Ornamental Sunflower Market Demand have become a popular choice for urban gardens due to their attractive blooms and low maintenance needs. This rising trend of urban farming is expected to drive the growth of the global ornamental sunflower market during the forecast period.
Porter’s Analysis
Threat of new entrants: New entry is easy as ornamental sunflower farming requires lower capital investment. However established players have economies of scale.
Bargaining power of buyers: Buyers have moderate bargaining power as they can switch between suppliers located in different regions offering sunflowers.
Bargaining power of suppliers: Flower seed suppliers have lower bargaining power due to presence of substitutes and easy availability of flowers from other regions.
Threat of new substitutes: Substitutes like roses, lilies pose minimal threat as sunflowers have unique characteristics and seasonal demand.
Competitive rivalry: Intense competition exists among regional and international players due to standardized nature of product.
In terms of value, North America is currently the major region for Ornamental Sunflower Market Size And Trends owing to high cultivation of sunflower hybrids for ornamental uses. Europe is another prominent geographical region driven by increasing producer awareness regarding alternative ornamental flower crops like sunflowers which attract pollinators.
The Asia Pacific region is expected to witness fastest growth in ornamental sunflower market during the forecast period. This is attributed to factors such as rapidly developing cut flower industry, economic growth and rising living standards in countries like China, India and Vietnam leading to increased discretionary spending on gardening and landscaping activities.
Geographical Regions
Currently, North America accounts for largest share in ornamental sunflower market in terms of value due to high cultivation of sunflower hybrids for ornamental uses. Europe is another prominent geographical region driven by increasing producer awareness regarding alternative ornamental flower crops like sunflowers which attract pollinators.
The Asia Pacific region is anticipated to witness fastest growth in ornamental sunflower market during the forecast period. This is attributed to factors such as rapidly developing cut flower industry, economic growth and rising living standards in countries like China, India and Vietnam leading to increased discretionary spending on gardening and landscaping activities.
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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