Singapore Floriculture Market Insights Forecasts to 2033

• The Singapore Floriculture Market Size was valued at USD 27.95 Million in 2023.
• The Market Size is Growing at a CAGR of 6.82% from 2023 to 2033
• The Singapore Floriculture Market Size is expected to reach USD 54.05 Million by 2033

The Singapore Floriculture Market Size is anticipated to exceed USD 54.05 Million by 2033, growing at a CAGR of 6.82% from 2023 to 2033. The increasing demand for flowers & ornamental plants, indoor gardening, favorable climate, supportive government policies, and awareness about the benefits of flowers & plants are driving the growth of the floriculture market in the Singapore.     

Market Overview

Floriculture refers to the production of flowers and ornamental plants. It is a commercially successful branch of horticulture and agriculture that includes the study of the production of plants producing showy, colorful flowers and foliage for human enjoyment in the human environment. In addition, it includes the cultivation and trade of flowers and ornamental plants for various purposes such as decoration, gifting, landscaping, and events. Singapore is the central hub for floriculture activities owing to region’s favorable climate and supportive government policies. The increasing consumer demand for eco-friendly products surges the emphasis on locally grown and organic flowers. This leads to drive innovation in floriculture which is offering market opportunities for floriculture.

Report Coverage

This research report categorizes the market for the Singapore floriculture market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Singapore floriculture market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Singapore floriculture market.

Driving Factors

The rising trend for indoor and outdoor gardening owing to rising disposable income, changing lifestyle, and increasing number of organized retail gardens are driving the market growth. In the urbanized area, the high-rise apartment buildings provide vertical places for naturallight home gardening in hallways, rooftops, balconies, as well as fascades, which leads to improving environmental sustainability. Further, the government initiatives for promoting green spaces and encouraging urban greening projects are promoting the market. Cultivation of ornamental plants and flowers promotes biodiversity and enhances ecosystems. The growing awareness about the environmental benefits of flowers & plants is propelling the floriculture market.

Restraining Factors

The seasonal variations in flower availability, fluctuation in price, and high costs associated with land, labor, and technology are hampering the Singapore floriculture market. Further, pest and disease management in floriculture production are challenging the market.

Market Segmentation

The Singapore Floriculture Market share is classified into product type, flower type, application, and end-use.

• The cut flowers segment accounted for the largest revenue share of the Singapore floriculture market in 2023.

The Singapore floriculture market is segmented by product type into cut flowers, pot plants, cut foliage, bedding plants, and others. Among these, the cut flowers segment accounted for the largest revenue share of the Singapore floriculture market in 2023. Cut flowers are the flower buds used for decorative purposes including floral decorations, wreaths, packaging, and bouquets. The increasing demand for fresh blooms across various occasions and events and the increasing popularity of floral gifts along with rising disposable incomes are driving the market.

• The rose segment dominated the Singapore floriculture market with the largest market share in 2023.       

Based on the flower type, the Singapore floriculture market is divided into rose, chrysanthemum, tulip, lily, gerbera, and others. Among these, the rose segment dominated the Singapore floriculture market with the largest market share in 2023. Roses have a vast color palette and fragrant blooms. The variety of roses grown in Singapore are Grandiflora roses, floribunda roses, climbing roses, miniature roses, and knock-out roses. The increased popularity of roses for occasions and celebrations is driving the market.

• The conference & activities segment dominated the market with the largest market share during the forecast period.

The Singapore floriculture market is segmented by application into conference & activities, personal use, gift, and others. Among these, the conference & activities segment dominated the market with the largest market share during the forecast period. The use of flowers for conference tables can greatly improve the atmosphere and professionalism of the event, in a busy city-state country, Singapore, where business meetings and conferences are commonplace. The widespread application of floral arrangements in professional settings and public events is driving the market demand.

• The hotel, resorts, & spa segment accounted for the largest market share during the forecast period.

The Singapore floriculture market is segmented by end-use into hotel, resorts, & spa, personal use, institutions/events, and industrial. Among these, the hotel, resorts, & spa segment accounted for the largest market share during the forecast period. Flowers and ornamental plants are increasingly used to improve the aesthetic appeal and overall atmosphere of luxury and relaxation. The increased hospitality services in Singapore owing to the trend of tourism and increased disposable income are enhancing the market demand in the hotel, resorts, & spa segment.  

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Singapore floriculture market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Far East Flora Pte Ltd
• Floral Garage Singapore
• FlowerAdvisor Pte. Ltd.
• Xpressflower.com Pte. Ltd.
• Angel Florist Singapore
• The Bloom Room Singapore
• Hummings Flowers & Gifts Pte Ltd
• Sing See Soon Floral & Landscape Pte Ltd.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In October 2024, Horticulture retailer Far East Flora is branching out into the dining segment with the opening of a cafe at the new Far East Flora Centre in Clementi.

Market Segment

This study forecasts revenue at Singapore, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Singapore Floriculture Market based on the below-mentioned segments:

Singapore Floriculture Market, By Product Type

• Cut Flowers
• Pot Plants
• Cut Foliage
• Bedding Plants
• Others

Singapore Floriculture Market, By Flower Type

• Rose
• Chrysanthemum
• Tulip
• Lily
• Gerbera
• Others

Singapore Floriculture Market, By Application

• Conference & Activities
• Personal Use
• Gift
• Others

Singapore Floriculture Market, By End-use

• Hotel, Resorts, & Spa
• Personal use
• Institutions/Events
• Industrial