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The worldwide succulent plant industry is estimated to boost remarkably in the next several years driven by expanding use-cases in the food sector. The health sector is also anticipated to present lucrative opportunities for suppliers, considering the wide health benefits such as a boost in the oxygen levels at home. Due to their small size and ability to be placed anywhere is a contributing factor to its growth.
A succulent plant is called succulents and are small plants that have thick parts and are full of nutrients. These plants are higher plants that have hypertrophic vegetative organs with stem, leaf, root and flower. They have thick fleshy tissues that can store water and deep root systems that are native to deserts or semiarid regions. They are a group of plants that have that most diverse forms , colors and blooms. They are easy to take care as they adapt to harsh climates. Hence their versatility and lack of requirements make them a great choice for indoor houseplants and ornamentals. These plants also improve oxygen levels within indoors. These plants can grow in any type of establishments such as offices, residencies and indoor offices. The popularity is growing owing to rapid urbanization where people are more inclined to have plants within their private space. This is estimated to generate lucrative opportunities for the market.
According to a research study by Business Research Insights, the global market for sesame meal is projected to rise at a CAGR of 17.9% during 2022-2027. In 2020, the market value stood at USD 3085.8 million.
Business Research Insights Presents the Top 5 Prominent Players in the Sesame Meal Industry
1. Altman Plants [U.S.]
It began as a hobby in a backyard in Los Angeles. They are a family-owned business 50 years into the establishment. The whole family was dedicated to growing the best quality plants and make them available to all. They work on breeding of proprietary genetics, young plant production, Plant production and so much more.
2. Costca Farms [U.S.]
Costa Farms, headquartered in Miami, Florida and is one of the largest horticultural growers in the world. The company sprouted in 1961. They grow more than 1,500 varieties of houseplants to help ensure you can grow houseplants successfully. They acclimate their plants from Miami conditions to those of the average household environment before shipping them to the stores.
3. From You Flowes [U.S.]
From You Flowers® is owned and operated by partners with over 35 years of combined experience in the floral industry. We are a member of the multiple florist networks and have delivery capabilities worldwide via our affiliation with over 20,000 premier florists from around the world. From You Flowers® offers a complete selection of personal and corporate floral and gift items appropriate for any occasion and every sentiment. This includes fresh flowers, plants, balloons and gift baskets.
4. Dummen Orange [Netherlands]
Dummen Orange develops flower varieties with improved characteristics, and produces cuttings which are then sold to growers. Dümmen Orange has a broad portfolio of 3,500 proprietary varieties of cut flowers, pot and bedding plants. Dümmen Orange’s core business is the development of flower varieties with improved characteristics for growers, retailers and consumers.
5. Adenium Rose Company [U.S.]
Adeniumrose Company is a complete plant nursery shipping rare adenium plants, Hoya, plumerias, cactus and succulent pants throughout the USA. Their online store with cactus and succulent growing help including extensive help. Cactus fertilizers, soils including bonsai adenium kits for beginners. Grafted hybrid adeniums, hard to root tropical plumeria plants and hoya plants which are fragrant fantastic flowering hanging indoors.
Major Challenges Posed by COVID-19 Pandemic
Due to the lockdown and quarantine rules to overcome the growing COVID-19 pandemic, forced shut the plant industry or pause their operations. This impacted the demand for ornamental flowers and plants, cutting flowers, bulbs and trees negatively. The demand for ornamental plants was growing via online retail due to the mental benefits it provided. This boosted the sale of houseplants.
Major Upcoming Trends in the Industry
There has been a drastic rise in the rate of urbanization globally. This is expected to boost the succulent plant market growth. This is directly associated with increasing construction activities in developing and developed countries is expected to rise the demand for ornamental plants. Growing investments in construction activities and increased spending in architecture and interior design has propelled the demand for plants in interior designing.