Succulent plant market to grow by USD 2.03 Bn, Increased penetration of online shopping to boost market growth – Technavio


NEW YORK, Oct. 21, 2022 /PRNewswire/ — The succulent plant market is expected to grow by USD 2.03 billion during 2021-2026, at a CAGR of 10.22%. During the forecast period, 39% of the growth originates from North America with a Y-O-Y growth of 9.5%. Get a Free Sample Report.

Succulent Plant Market: Driver Analysis

One of the major factors boosting the growth of the succulent plant market is the increased adoption of internet shopping. Online shopping of smart devices has become more popular over time due to the widespread usage of Internet services, increased economic growth, and enhanced purchasing and delivery alternatives. The demand for online shopping has grown as a result of the availability of online payment alternatives, a large selection of goods, online shipping monitoring, and other factors.

Customers currently have access to a variety of payment methods, including credit cards, debit cards, cash on delivery (COD), and online banking. Thus, it is projected that the market under consideration will experience positive growth over the forecast period due to the rising popularity of online shopping and the accessibility of different varieties of succulent plants on the internet platform. Request Free Sample Report.

Succulent Plant Market: Vendor Landscape

The global succulent plant market is competitive, with all players competing to gain a high market share.  Altman Plants, COSTA FARMS, Tenth Avenue Commerce, and Dummen Orange are a few of the market’s prominent sellers. Significant hazards for vendors include fierce competition, quick changes in service offerings, and regular shifts in consumer preferences.

Additionally, the number of private brands on the market is growing. Vendors must therefore distinguish their product and service offerings with a clear and distinctive value proposition in order to survive and prosper in this fiercely competitive climate.

The rising indoor and outdoor decoration business, which includes interior residential and commercial building decoration, also contributes to the market’s growth and will fuel vendor competition. Thus, the growing competition among vendors will positively impact the market during the forecasted period. Buy Sample Report.

Succulent Plant Market: Segment Analysis

 The report extensively covers the succulent plant market segmentation by

  • Type 
    • Cactaceae 
      • Succulent plants of the Cactaceae family are a popular choice for novice plant owners due to their low maintenance requirements. The Cactaceae family of succulent plants, which includes the Gymnocalycium mihanovichii Hibotan Moon Cactus and the Echinocereus rigidissimus rubrospinal Rainbow Hedgehog Cactus, are available from a number of merchants like Altman Plants. These plants are employed in residences and businesses to raise the space’s aesthetic appeal.
      • In addition to serving a cosmetic purpose, these pants have a number of advantages, including requiring relatively little upkeep, enhancing the local air quality, lowering stress levels, and having a longer lifespan than cut flowers. As a result of these benefits, succulent Cactaceae is grown indoors.
    • Crassulaceae
    • Aizoaceae
    • Others
  • Geography 
    • North America 
      • The largest market for succulent plants is the US. Improved economic conditions and rising consumer expenditure on gardening and landscaping in the residential sector are the main factors driving the industry in the US. Yard work is a common hobby in the US, and DIY gardening is one of the most popular pastimes. In addition, a lot of households choose to engage landscaping companies to take care of their lawns and gardens. With the improvement of home gardens, the succulent plant market in the US is anticipated to develop throughout the course of the projected period.
    • APAC
    • Europe
    • Middle East and Africa
    • South America

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Succulent Plant Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 10.22%

Market growth 2022-2026

$2.03 billion

Market structure

Fragmented

YoY growth (%)

9.5

Regional analysis

North America, APAC, Europe, Middle East and Africa, and South America

Performing market contribution

North America at 39%

Key consumer countries

US, Canada, China, Germany, and France

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Adeniumrose Co. LLC, Altman Specialty Plants LLC, Annies Garden and Patio, Costa Farms LLC, Dummen Orange, Fairyblooms LLC, FTD LLC, Mountain Crest Gardens, myBageecha, NorCal Succulent Shop,  NurseryLive, Nurturing Green Plantation Pvt. Ltd., Qingdao Flowery Crafts Co. Ltd., Queen Knud Jepsen A/S, Rootly Plant Decor Pvt. Ltd., Succulent Market, Succulents Box LLC, Tenth Avenue Holdings LLC, The Bouqs Co., The Leaf and Clay, Ugaoo Agritech Pvt. Ltd., and Yiwu Lishi Imp. and Exp. Co., Ltd

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

  • 1.1 Market overview 
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem 
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition 
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis 
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026 
    • Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ million)
    • Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ million)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary 
    • Exhibit 17: Five forces analysis – Comparison between 2021 and 2026
  • 4.2 Bargaining power of buyers 
    • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
  • 4.3 Bargaining power of suppliers 
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants 
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes 
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry 
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition 
    • Exhibit 23: Chart on Market condition – Five forces 2021 and 2026

5 Market Segmentation by Type

  • 5.1 Market segments 
    • Exhibit 24: Chart on Type – Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Type – Market share 2021-2026 (%)
  • 5.2 Comparison by Type 
    • Exhibit 26: Chart on Comparison by Type
    • Exhibit 27: Data Table on Comparison by Type
  • 5.3 Cactaceae – Market size and forecast 2021-2026
    • Exhibit 28: Chart on Cactaceae – Market size and forecast 2021-2026 ($ million)
    • Exhibit 29: Data Table on Cactaceae – Market size and forecast 2021-2026 ($ million)
    • Exhibit 30: Chart on Cactaceae – Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Cactaceae – Year-over-year growth 2021-2026 (%)
  • 5.4 Crassulaceae – Market size and forecast 2021-2026
    • Exhibit 32: Chart on Crassulaceae – Market size and forecast 2021-2026 ($ million)
    • Exhibit 33: Data Table on Crassulaceae – Market size and forecast 2021-2026 ($ million)
    • Exhibit 34: Chart on Crassulaceae – Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on Crassulaceae – Year-over-year growth 2021-2026 (%)
  • 5.5 Aizoaceae – Market size and forecast 2021-2026
    • Exhibit 36: Chart on Aizoaceae – Market size and forecast 2021-2026 ($ million)
    • Exhibit 37: Data Table on Aizoaceae – Market size and forecast 2021-2026 ($ million)
    • Exhibit 38: Chart on Aizoaceae – Year-over-year growth 2021-2026 (%)
    • Exhibit 39: Data Table on Aizoaceae – Year-over-year growth 2021-2026 (%)
  • 5.6 Others – Market size and forecast 2021-2026
    • Exhibit 40: Chart on Others – Market size and forecast 2021-2026 ($ million)
    • Exhibit 41: Data Table on Others – Market size and forecast 2021-2026 ($ million)
    • Exhibit 42: Chart on Others – Year-over-year growth 2021-2026 (%)
    • Exhibit 43: Data Table on Others – Year-over-year growth 2021-2026 (%)
  • 5.7 Market opportunity by Type 
    • Exhibit 44: Market opportunity by Type ($ million)

6 Customer Landscape

  • 6.1 Customer landscape overview 
    • Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation 
    • Exhibit 46: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 47: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison 
    • Exhibit 48: Chart on Geographic comparison
    • Exhibit 49: Data Table on Geographic comparison
  • 7.3 North America – Market size and forecast 2021-2026
    • Exhibit 50: Chart on North America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 51: Data Table on North America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 52: Chart on North America – Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on North America – Year-over-year growth 2021-2026 (%)
  • 7.4 APAC – Market size and forecast 2021-2026
    • Exhibit 54: Chart on APAC – Market size and forecast 2021-2026 ($ million)
    • Exhibit 55: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
    • Exhibit 56: Chart on APAC – Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on APAC – Year-over-year growth 2021-2026 (%)
  • 7.5 Europe – Market size and forecast 2021-2026
    • Exhibit 58: Chart on Europe – Market size and forecast 2021-2026 ($ million)
    • Exhibit 59: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
    • Exhibit 60: Chart on Europe – Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on Europe – Year-over-year growth 2021-2026 (%)
  • 7.6 Middle East and Africa – Market size and forecast 2021-2026 
    • Exhibit 62: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
    • Exhibit 63: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
    • Exhibit 64: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)
  • 7.7 South America – Market size and forecast 2021-2026
    • Exhibit 66: Chart on South America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 67: Data Table on South America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 68: Chart on South America – Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on South America – Year-over-year growth 2021-2026 (%)
  • 7.8 US – Market size and forecast 2021-2026
    • Exhibit 70: Chart on US – Market size and forecast 2021-2026 ($ million)
    • Exhibit 71: Data Table on US – Market size and forecast 2021-2026 ($ million)
    • Exhibit 72: Chart on US – Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on US – Year-over-year growth 2021-2026 (%)
  • 7.9 China – Market size and forecast 2021-2026
    • Exhibit 74: Chart on China – Market size and forecast 2021-2026 ($ million)
    • Exhibit 75: Data Table on China – Market size and forecast 2021-2026 ($ million)
    • Exhibit 76: Chart on China – Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on China – Year-over-year growth 2021-2026 (%)
  • 7.10 Germany – Market size and forecast 2021-2026
    • Exhibit 78: Chart on Germany – Market size and forecast 2021-2026 ($ million)
    • Exhibit 79: Data Table on Germany – Market size and forecast 2021-2026 ($ million)
    • Exhibit 80: Chart on Germany – Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on Germany – Year-over-year growth 2021-2026 (%)
  • 7.11 France – Market size and forecast 2021-2026
    • Exhibit 82: Chart on France – Market size and forecast 2021-2026 ($ million)
    • Exhibit 83: Data Table on France – Market size and forecast 2021-2026 ($ million)
    • Exhibit 84: Chart on France – Year-over-year growth 2021-2026 (%)
    • Exhibit 85: Data Table on France – Year-over-year growth 2021-2026 (%)
  • 7.12 Canada – Market size and forecast 2021-2026
    • Exhibit 86: Chart on Canada – Market size and forecast 2021-2026 ($ million)
    • Exhibit 87: Data Table on Canada – Market size and forecast 2021-2026 ($ million)
    • Exhibit 88: Chart on Canada – Year-over-year growth 2021-2026 (%)
    • Exhibit 89: Data Table on Canada – Year-over-year growth 2021-2026 (%)
  • 7.13 Market opportunity by geography 
    • Exhibit 90: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges 
    • Exhibit 91: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape 
    • Exhibit 92: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption 
    • Exhibit 93: Overview on factors of disruption
  • 9.4 Industry risks 
    • Exhibit 94: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered 
    • Exhibit 95: Vendors covered
  • 10.2 Market positioning of vendors 
    • Exhibit 96: Matrix on vendor position and classification
  • 10.3 Adeniumrose Co. LLC 
    • Exhibit 97: Adeniumrose Co. LLC – Overview
    • Exhibit 98: Adeniumrose Co. LLC – Product / Service
    • Exhibit 99: Adeniumrose Co. LLC – Key offerings
  • 10.4 Altman Specialty Plants LLC 
    • Exhibit 100: Altman Specialty Plants LLC – Overview
    • Exhibit 101: Altman Specialty Plants LLC – Product / Service
    • Exhibit 102: Altman Specialty Plants LLC – Key offerings
  • 10.5 Costa Farms LLC 
    • Exhibit 103: Costa Farms LLC – Overview
    • Exhibit 104: Costa Farms LLC – Product / Service
    • Exhibit 105: Costa Farms LLC – Key offerings
  • 10.6 Dummen Orange 
    • Exhibit 106: Dummen Orange – Overview
    • Exhibit 107: Dummen Orange – Product / Service
    • Exhibit 108: Dummen Orange – Key offerings
  • 10.7 FTD LLC 
    • Exhibit 109: FTD LLC – Overview
    • Exhibit 110: FTD LLC – Product / Service
    • Exhibit 111: FTD LLC – Key offerings
  • 10.8 Qingdao Flowery Crafts Co. Ltd. 
    • Exhibit 112: Qingdao Flowery Crafts Co. Ltd. – Overview
    • Exhibit 113: Qingdao Flowery Crafts Co. Ltd. – Product / Service
    • Exhibit 114: Qingdao Flowery Crafts Co. Ltd. – Key offerings
  • 10.9 Succulent Market 
    • Exhibit 115: Succulent Market – Overview
    • Exhibit 116: Succulent Market – Product / Service
    • Exhibit 117: Succulent Market – Key offerings
  • 10.10 Tenth Avenue Holdings LLC 
    • Exhibit 118: Tenth Avenue Holdings LLC – Overview
    • Exhibit 119: Tenth Avenue Holdings LLC – Product / Service
    • Exhibit 120: Tenth Avenue Holdings LLC – Key offerings
  • 10.11 The Bouqs Co. 
    • Exhibit 121: The Bouqs Co. – Overview
    • Exhibit 122: The Bouqs Co. – Product / Service
    • Exhibit 123: The Bouqs Co. – Key offerings
  • 10.12 Yiwu Lishi Imp. and Exp. Co., Ltd 
    • Exhibit 124: Yiwu Lishi Imp. and Exp. Co., Ltd – Overview
    • Exhibit 125: Yiwu Lishi Imp. and Exp. Co., Ltd – Product / Service
    • Exhibit 126: Yiwu Lishi Imp. and Exp. Co., Ltd – Key offerings

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist 
    • Exhibit 127: Inclusions checklist
    • Exhibit 128: Exclusions checklist
  • 11.3 Currency conversion rates for US$ 
    • Exhibit 129: Currency conversion rates for US$
  • 11.4 Research methodology 
    • Exhibit 130: Research methodology
    • Exhibit 131: Validation techniques employed for market sizing
    • Exhibit 132: Information sources
  • 11.5 List of abbreviations 
    • Exhibit 133: List of abbreviations
About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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