The floriculture industry in Korea is experiencing significant growth, with projected sales reaching USD 317.8 million in 2023. This thriving sector is poised for an impressive expansion, with an expected 7.4% CAGR from 2023 to 2033, ultimately reaching an estimated valuation of USD 647.4 million by 2033.
A key driving force behind this remarkable growth is the government-led ‘Flower Road’ initiative, a program designed to beautify national highways, roads, and public spaces with vibrant floral arrangements. These visually stunning flower gardens not only enhance the aesthetic appeal of public areas but also contribute to boosting tourism. The program encourages the creation of large-scale gardens, innovative floral designs, and flower tunnels, all of which have captured the public’s imagination and increased demand for floriculture products across the country.
The expansion of floriculture in Korea is also supported by several key trends:
Key Insights Driving the Floriculture Demand in Korea
- Technological Integration: As eCommerce and digital platforms gain importance, floriculture businesses are leveraging these tools to reach a broader consumer base. The sector is increasingly becoming tech-driven, enhancing accessibility for consumers across Korea and beyond.
- Government Support: The Korean government is actively fostering the floriculture sector with infrastructure development, research projects, and subsidies. This backing has played a pivotal role in boosting industry innovation and global competitiveness.
- Sustainability & Innovation: Echoing global trends, Korea’s floriculture industry is embracing eco-friendly techniques and sustainable production practices, ensuring its continued relevance in the growing market for ethically produced flowers.
Category-wise Insights
Chrysanthemums: A Dominant Force in Korean Floriculture Chrysanthemums, known for their resilience and long vase life, capture a significant share of the floriculture market. In 2023, chrysanthemums are expected to hold 20.60% of the market share. Their ability to withstand various environmental conditions makes them a favorite in both domestic and export markets.
Hospitality Sector Drives Demand for Premium Flowers The hotels, resorts, and spas segment remains a crucial driver of floriculture demand, accounting for 25.4% of the market share in 2023. With a focus on luxury and aesthetic appeal, hotels and resorts regularly use premium floral arrangements to create welcoming and relaxing environments for their guests.
Competitive Landscape
Korea-based floriculture companies have been at the forefront of innovations in flower breeding, cultivation techniques, and sustainable practices. These advancements take various forms, from developing new flower varieties with unique characteristics to implementing cutting-edge technologies for crop protection and greenhouse management. The goal of these innovations is to improve the availability, quality, and sustainability of flowers, which hold significant cultural, economic, and ornamental value.
In addition to technological and cultivation innovations, many floriculture firms in Korea are increasingly adopting direct-to-consumer (DTC) business models to drive revenue growth. By leveraging eCommerce platforms and subscription-based services, these companies can bypass traditional distribution channels and sell directly to customers. This approach eliminates intermediaries, allowing businesses to have greater control over pricing, quality, and customer engagement. As flowers are delivered directly to consumers who prioritize convenience and quality, the DTC model often leads to higher profit margins and a more personalized customer experience.
Key Players
- LG Electronics
- Samsung C&T Corporation
- Dümmen Orange
- Dongbu Farm Hannong
- Daejin
- Hyundai Green Food
- Korea Seed & Service
- Shinhan Greenhouses
- NongWoo Bio
- Taewoong Agricultural
- CNH Korea
- Kisung Industry
- Woojin Greenhouse
- Daehan Greenhouse
- Hwaseung F&B
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Key Segments
By Product Type:
- Cut Flowers
- Cut Foliage
- Plants
- Propagation Material
By Flower Type:
- Rose
- Chrysanthemum
- Tulip
- Lily
- Gerbera
- Carnations
- Texas Blueball
- Freesia
- Hydrangea
- Others
By End Use:
- Personal Use
- Institutions/Events
- Hotels, Resorts, & Spas
- Industrial
By Sales Channel:
- Direct Sales
- Specialty Stores
- Franchises
- Florists & Kiosks
- Supermarkets/Hypermarkets
- Independent Small Stores
- Online Retailers
- Other Sales Channel
By Provinces:
- South Gyeongsang
- North Jeolla
- South Jeolla
- Jeju
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