Malaysia Floriculture Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 1.12 Billion |
| Market Size (2029) | USD 2.31 Billion |
| CAGR (2024 - 2029) | 15.66 % |
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Malaysia Floriculture Market Analysis
The Malaysia Floriculture Market size is estimated at USD 1.12 billion in 2024, and is expected to reach USD 2.31 billion by 2029, growing at a CAGR of 15.66% during the forecast period (2024-2029).
- The market is witnessing growth due to factors such as growing export potential and government support to increase cut flower production. Among the temperate flowers, the chrysanthemum segment of the market studied was the largest segment in 2022, with a consumption value of USD 30,978.8 thousand. Chrysanthemum has the potential for further expansion during the forecast period due to large acres of production. The growers' high-quality outputs are held to a strict SOP standard, and there is a substantial global market for it. Growers in the country play an essential role in the distribution channel of flowers in both domestic and foreign markets.
- Over the long term, the increasing export demand is anticipated to drive the market's growth. Japan, Thailand, Singapore, and Australia are the major countries importing cut flowers from Malaysia. China, India, the Netherlands, and Indonesia are the major countries exporting cut flowers to Malaysia.
Malaysia Floriculture Market Trends
Increasing Government Support is Aiding the Expansion of Cultivated Area
- Over the last 3 years, Malaysia has become home to a wide-ranging assortment of floriculture species that could generate a decent income for producers and traders and contribute to the national income. Therefore, for the sector's growth, the country's government is offering various support programs.
- For instance, in the National Agro-food Policy (2011-2020), the government has listed floriculture as one of its high-value industries. Development of areas for cultivating temperate flowers in the highlands is expected to cover 120 hectares, including the Lojing Highlands, Kelantan, Kinta Highlands, Perak, Sabah, and Sarawak.
- Floriculture Nursery Commercial Zones are also likely to be developed in strategic areas to meet the demand for landscape plants under this plan. Furthermore, through this policy, the government increased the area under floriculture production to 3,500 hectares in 2020. For this purpose, the government is strengthening its support services through public-private partnerships and by providing extension services to develop a competitive floriculture industry.
- The government also has drawn-out tax and financial incentives to draw more attention toward new investments in the floriculture industry and promote the export of floriculture products. The 'Pioneer Status' is an incentive expected to permit the business five years of partial tax relief. Local companies that export agricultural products, including floriculture, are qualified for enhanced export allowance rates of up to 30%, 50%, and 100%, depending on their export value. The increasing area under floriculture and increased support activities for increasing investments in the sector are expected to drive the floriculture market in Malaysia during the forecast period.
Growing Export Potential for Floral Products
- Malaysia is one of the major exporters of cut flowers worldwide. The export value of fresh-cut flowers reached more than USD 80 million every year. The country exports simple climate flowers, such as roses, carnations, lilies, leaf cuttings, and decorative plants. Most floriculture products in Malaysia are produced to meet export market needs.
- In 2021, Japan was the top export destination for floriculture, followed by Australia, Singapore, Thailand, China, and the United Arab Emirates. For instance, the cut flower export value increased by 3.5% between 2020 and 2021, reaching a value of USD 90.5 million due to increased demand from Asia-Pacific countries such as Japan, Singapore, and other countries.
- The widest variety of exported orchids comprises dendrobium, sranda, and mokara. Singapore, Australia, Japan, and Saudi Arabia are the major export destinations for fresh orchids. Therefore, increased demand for the export of flowers has helped the market's growth during the forecasted period.
Malaysia Floriculture Market News
- January 2022: The flower-producing industry is witnessing growth during the study period due to the Malaysian Floriculture Industry Development Policy by the establishment of a logistics and marketing network to increase the export of flowers such as orchids, lilies, and others to different countries such as Japan, Thailand, and others.
- June 2021: The Malaysian government has implemented National Agro-Food Policy 2.0, which has helped increase the country's floriculture offerings and the market's growth.
Malaysia Floriculture Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Flower Type
5.1.1 Orchids
5.1.2 Rosa
5.1.3 Chrysanthemum
5.1.4 Carnation
5.1.5 Aster
5.1.6 Gerbera
5.1.7 Lily
5.1.8 Other Flowers
6. REGIONAL ANALYSIS
6.1 Value Chain Analysis
6.2 Distribution Channel Analysis
6.3 PESTLE Analysis
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Malaysia Floriculture Industry Segmentation
Floriculture is a type of horticulture practice that focuses on cultivating flowering and ornamental plants for gardens and commercial use.
The Malaysian floriculture market is segmented by flower type (orchids, rosa, chrysanthemum, carnation, aster, gerbera, lily, and other flowers).
The report offers the market size and forecasts in terms of value in USD million and volume in metric ton for the above segment.
| Flower Type | |
| Orchids | |
| Rosa | |
| Chrysanthemum | |
| Carnation | |
| Aster | |
| Gerbera | |
| Lily | |
| Other Flowers |
Malaysia Floriculture Market Research FAQs
How big is the Malaysia Floriculture Market?
The Malaysia Floriculture Market size is expected to reach USD 1.12 billion in 2024 and grow at a CAGR of 15.66% to reach USD 2.31 billion by 2029.
What is the current Malaysia Floriculture Market size?
In 2024, the Malaysia Floriculture Market size is expected to reach USD 1.12 billion.
What years does this Malaysia Floriculture Market cover, and what was the market size in 2023?
In 2023, the Malaysia Floriculture Market size was estimated at USD 0.97 billion. The report covers the Malaysia Floriculture Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Malaysia Floriculture Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Malaysia Floriculture Industry Report
The Floriculture Market in Malaysia is experiencing significant growth, driven by various flower types including orchids, rosa, chrysanthemum, carnation, aster, gerbera, lily, and other flowers. This industry analysis provides a comprehensive overview of the market trends, market segmentation, and market value. The market size and market share are forecasted to expand, reflecting the industry's positive growth rate.
Industry statistics indicate a robust market growth, supported by extensive industry research and industry reports. The market outlook remains optimistic, with market predictions and market forecast suggesting continued expansion. Industry information and industry sales data highlight the leading market leaders and their contributions to the market dynamics.
The industry overview and market overview offer insights into the consumer market, emphasizing the importance of industry trends and market data in shaping the future of the floriculture sector. The report example and report pdf provide detailed industry reports, showcasing the market review and market segmentation.
With a focus on the global market and global industry, the industry outlook underscores the potential for further development and market growth. The industry size and market leaders are pivotal in driving the industry's success, supported by extensive research companies and their findings.
In summary, the floriculture market in Malaysia is poised for continued growth, backed by thorough industry research, market forecast, and industry trends. The market review and industry information provide a clear picture of the market value and market segmentation, ensuring a comprehensive understanding of the industry's future prospects.
