Market Size of Colombia Floriculture Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Market Size (2024) | USD 2 Billion |
Market Size (2029) | USD 2.54 Billion |
CAGR (2024 - 2029) | 4.81 % |
Colombia Floriculture Market Analysis
The Colombia Floriculture Market size is estimated at USD 2 billion in 2024, and is expected to reach USD 2.54 billion by 2029, at a CAGR of 4.81% during the forecast period (2024-2029).
Colombia stands out as a leading global producer and exporter of flowers. Spanning over 10,000 hectares, the country cultivates more than 6,400 flower varieties, predominantly in Cundinamarca, with Antioquia and Centerwest also playing significant roles. Major flowers produced include high-quality carnations, roses, hydrangeas, chrysanthemums, lilies, and alstroemerias. Beyond its robust export performance, the industry generates significant employment, revitalizing local communities and bolstering the economy, thereby fueling market growth. Data from the National Administrative Department of Statistics (DANE) reveals that between January and February 2022, Colombia's flower trade approached USD 890 million, underscoring its economic significance.
Colombia's flower industry champions sustainability, with growers committed to eco-friendly farming and reduced carbon footprints. The Florverde Sustainable Flowers certification is a prime example, highlighting the industry's commitment to a greener future. This certification ensures flowers are grown under strict social and environmental standards, emphasizing both worker welfare and eco-responsibility.
In 2022, Flowers of Colombia, a leading brand, organized the Dianthus Week Colombia 2022, showcasing new Dianthus varieties, popularly known as carnations. Such initiatives, led by various companies and organizations, aim to enhance the visibility and market presence of Colombian flowers. Thus, the synergy of robust flower production, sustainable cultivation practices, and proactive promotional activities is driving market growth in the coming years.
Colombia Floriculture Industry Segmentation
Floriculture is a practice that primarily focuses on the cultivation of flowering and ornamental plants for gardens and commercial use. The Colombian floriculture market is segmented by flower type (roses, chrysanthemums, carnations, alstroemeria, hydrangea, lilies, and other flower types). A detailed analysis of the market is provided by giving the production analysis, consumption analysis (value and volume), import analysis (value and volume), export analysis (value and volume), and price trend analysis within the country for each flower type. The report offers market estimation and forecasts in value (USD) and volume (Metric tons) for the above-mentioned segments.
Flower Type | |
Roses | |
Chrysanthemums | |
Carnations | |
Alstroemerias | |
Hydrangeas | |
Lilies | |
Other Types of Flowers |
Colombia Floriculture Market Size Summary
The Colombian floriculture market is poised for steady growth, driven by the country's position as the second-largest exporter of cut flowers globally, following the Netherlands. The market is characterized by a diverse range of flowers, with roses and carnations being particularly popular. The United States, United Kingdom, and Russia are significant importers of Colombian flowers, contributing to the market's expansion. The Colombian government plays a supportive role by offering subsidies for modernizing equipment and signing free trade agreements, such as with the United States, to enhance export capabilities. Despite challenges like strict regulations in developed markets and labor issues, the market continues to thrive, with e-commerce emerging as a vital channel for sales, especially during peak seasons like Valentine's Day.
Colombia's floriculture industry is a crucial part of the national economy, with a significant portion of production concentrated in regions like La Sabana of Bogotá and Río Negro. The industry not only generates substantial revenue but also provides employment opportunities, with a notable contribution to the agricultural sector's income. The government's initiatives to boost the cultivation of in-demand flowers like hydrangeas and collaborations with countries like Canada to strengthen trade relations are expected to further enhance the market's growth prospects. As the industry celebrates milestones and addresses succession planning, it remains focused on sustainable practices and meeting international quality standards, ensuring its continued success in the global market.
Colombia Floriculture Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Export Potential of Cut Flowers
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1.2.2 Increasing Favourable Initiatives
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1.2.3 Favourable Climatic Conditions
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1.3 Market Restraints
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1.3.1 Stringent Trade Regulations
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1.3.2 Fluctuations in the Prices
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1.4 Value Chain Analysis
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2. MARKET SEGMENTATION (Production Analysis, Consumption Analysis (Value and Volume), Import Analysis (Value and Volume), Export Analysis (Value and Volume), and Price Trend Analysis)
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2.1 Flower Type
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2.1.1 Roses
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2.1.2 Chrysanthemums
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2.1.3 Carnations
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2.1.4 Alstroemerias
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2.1.5 Hydrangeas
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2.1.6 Lilies
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2.1.7 Other Types of Flowers
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Colombia Floriculture Market Size FAQs
How big is the Colombia Floriculture Market?
The Colombia Floriculture Market size is expected to reach USD 2 billion in 2024 and grow at a CAGR of 4.81% to reach USD 2.54 billion by 2029.
What is the current Colombia Floriculture Market size?
In 2024, the Colombia Floriculture Market size is expected to reach USD 2 billion.