The artificial plants market is poised to grow to a valuation of US$ 1,019 million in 2023 and is predicted to exhibit a CAGR of 4.5% from 2023 to 2033 and reach US$ 1,582.48 million in 2033. Faux plants are another name for artificial plants. Due to the ease of usage and the inexpensive raw resources, manufacturers prefer polyester for the production of artificial plants.
Both residential and business settings can benefit from artificial plants. In addition, millennials' desire for aesthetic value packs and the reproducibility of exotic plants that are unusual and challenging to sustain in certain weather patterns have driven sales significantly. A high population worldwide is greatly susceptible to a wide range of plant allergies. This sheds light on artificial plants, which have also emerged as the best option for decorative elements. Customers are indeed drawn to artificial plants because of their better rigidity, which organic decomposable plants do not have.
Moreover, a shortage of time for cultivating natural plants has transitioned consumer interest toward purchasing artificial plants, which is anticipated to boost industry growth. Furthermore, changing weather conditions have reduced soil fertility, impeding the expansion of natural plants. It will cause consumers to choose artificial plants and flowers.
In accordance with a prediction from the Indian Meteorological Department (IMD) for September 2021, precipitation patterns in North East India are evolving, and the recurrence of dry seasons and water shortages are ramping up, exacerbating land drying up and restricting soil fertility for planting and harvesting.
The increased demand for artificial plants and trees is anticipated to fuel the expansion of the artificial plants market over the period of forecasting. Moreover, advancements in product layout and technological innovation are projected to fuel the expansion of the artificial plants market.
Furthermore, the increasing adoption of artificial plants as interior home decor by residential households and the marketing sector is expected to shield the artificial plants market's expansion.
Based on application, given the growing adoption of artificial plants in household decors, roof gardens, balconies, and lawns, the residential segment is projected to account for the biggest portion of the market. Because artificial plants imitate natural ones and require less upkeep and care, consumers have an interest in incorporating them into residential rooms to adopt sustainable attraction. Furthermore, the expense of buying artificial plants is significantly lower than that of natural plants, and these plants are widely used in residential spaces for their inexpensive maintenance.
North America continues to be the largest consumer of artificial plants. In North America, multiple application fields including airports, amusement parks, and hotels introduce tremendous opportunities for market expansion. The United States alone has over 51,243,000 amusement parks, which stimulates the economy for artificial plants in North America.
The Asia Pacific (APAC) region's infrastructure development is broadening the potential uses for artificial plants. This demand is expected to double in the Asia Pacific. Companies are primarily focused on creating unique indoor artificial plants that can be used in commercial spaces, hospitality centers, and homes. These enterprises' primary key aspects are product features, elegance, and resemblance to natural plants.
Also, partnerships and mergers between companies and independent designers with vendors have increased the availability of different types of faux plants and certain categories, consequently expanding the industry's growth aspects.
For instance, Vistafolia, a global manufacturer and distributor of lifelike artificial green walls, unveiled an innovative base polymer for artificial plants in August 2021 in cooperation with the University of Surrey. The plant material is derived from renewable materials.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value (2023) | US$ 1,019 million |
| Anticipated Forecast Value (2033) | US$ 1,582.48 million |
| Projected Growth Rate (2023 to 2033) | 4.1% CAGR |
Artificial Plants have found its application is every household and hotels around the world. These faux plants are made up of high quality plastics and fabrics and polyester fabric. These plants have been in trend for long period of time as it is resistant to extreme weather conditions with minimum to no maintenance cost. Furthermore, low cost of these plants has increased its adoption in wide regions
The demand for artificial plants has increased drastically over last few years in various commercial and household sector. Longevity, availability of wide options and affordability of these products give remunerative growth opportunities to the global artificial plants market.
Additionally, busy life schedule restrains people from taking care of natural plants which proliferate demand for artificial plants. Many people tend to develop allergic reactions from several natural plants. Various technological advancements such as pest repellent and glow in dark plants attract major customer attention, which will in turn will proliferate market growth over near future.
Artificial plants are made up of non-biodegradable substances which causes a big problem in disposable of these products. Moreover, these plants are not able to emit oxygen or absorb volatile gases and are unable to purify air. Discoloration after a long term causes a major backlash for artificial plants market.
North America remains the major consumer of the artificial plants. Myriad application sectors such as airports, theme parks, hotels present in North America provides lucrative opportunity for market growth. The USA alone houses for more than 51,243,000 amusement parks which proliferates demand for artificial plants in North America.
Infrastructural development in the Asia Pacific (APAC), is widening application area for artificial plants in this region. This demand is going to show 2X growth in Asia Pacific.
The global artificial Plants Market is consolidated with limited market players. Players focus upon product launch to remain competitive in market space. For instance.
Players in the global artificial plant market includes-
The global artificial flowers market is segmented on the basis of material type, and application.
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