The blooming Floriculture business

The floriculture market is growing due to a number of causes, including the development of organised retail and e-commerce platforms nationwide, the increase in government programmes and regulations promoting floriculture, and the ongoing improvements in agricultural methods and technology. In 2024-2032, the Indian floriculture industry is expected to increase at a compound annual growth rate (CAGR) of 11.4 per cent, up from Rs 26,210 crore in 2023, according to IMARC Group.

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Indian floriculture is based on traditions and we have a rich heritage on the use of flowers all through our lives from our birth to death, with indispensable roles in various social and religious ceremonies. Flowers have been recognised as an excellent tool for expressing our most tender and delicate emotions. A single flower is known to be the reason for a million smiles. Floriculture, over a period of time, has been recognised to possess enormous potential for increasing the income of everyone in the production and marketing streams. Floriculture activity is known to generate gainful self- employment, particularly farm women.

The fast changing preferences of the consumers and increasing disposable income levels have contributed immensely to the growth of the floriculture sector, not only in India but globally. From a lowly subsistence farming of flowers, less than fifty years ago, India today has a floriculture trade value exceeding Rs 25,000 crore. Growing at a fast rate, we may soon treble this figure in another decade or so. India has the second largest production base (after China) of more than 300,000 hectare area under various crops / products. While floriculture products are grown in every nook and corner of the country, the major producing states are Karnataka, Maharashtra, Tamil Nadu and West Bengal. It is becoming extremely difficult to track the growth of the sector, largely in view of the small size of operations, which often go unreported.