The Latin America, Middle East and Africa Artificial Flowers Market would witness market growth of 7.6% CAGR during the forecast period (2023-2030).In the year 2026, the LAMEA market's volume is expected to surge to 55.3 million units, showcasing a growth of 8.9% (2023-2030).
Consumers' preference has shifted toward eco-friendly home decor products, which is a key growth factor for the market. The market is also growing as consumer disposable income rises in both developed and developing countries. Additionally, aggressive advertising and celebrity endorsement have contributed significantly to the expansion of the market. The home decor industry is expected to experience advantageous growth opportunities as a result of the soaring demand for trendy and distinctive furniture.
Furthermore, one of the main factors likely to positively impact the growth of the market in a number of countries is the increasing demand for decorative and aesthetic purposes. Increasing consumer investments in gardens, landscaping, and interior decoration are crucial to developing the market.
The growing need for boosting outdoor aesthetics in different nations and the availability of a wide range of artificial plant options, from big trees to tiny succulents, will both continue to have a significant impact on the expansion of the market. In addition, a gradual increase in the female labor force will bolster the interior design trend, which will, in turn, support the growth of the market over the forecast period.
The hospitality sector in Latin America and the Middle East is developing to accommodate the evolving requirements and preferences of contemporary tourists looking for more authentic, sustainable, cutting-edge, and enriching travel experiences. The UAE government estimates that in 2022, the travel and tourism industry contributed AED 167 billion, or 9% of the UAE's overall GDP. The main advantage of artificial landscaping over using actual plants and trees is the ability to reduce watering costs, although there are other advantages as well. Therefore, the demand for artificial flowers is going to rise in the LAMEA region in coming years.
The Brazil market dominated the LAMEA Artificial Flowers Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $42.8 Million by 2030. The Argentina market is estimated to witness a CAGR of 8.1% during (2023 - 2030). Additionally, The UAE market would showcase a CAGR of 7.3% during (2023 - 2030).
Based on Application, the market is segmented into Commercial, and Residential. Based on Material, the market is segmented into Polyester, Plastic, Paper, Nylon, Silk, and Others. Based on Distribution Channel, the market is segmented into Offline, and Online. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Artificial Flowers Market is Projected to reach USD 2.1 Billion by 2030, at a CAGR of 4.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include FRS Holding s.r.l.u, Diane James Designs, Inc., Dongguan Fusheng Arts Products Co., Ltd., Artificial Flower Factory, TreeLocate (Europe) Limited, TreeScapes & PlantWorks, LLC, NGAR TAT PRODUCTION FTY. LTD., Plantscape Commercial Silk (PLANTSCAPE INC.), Xuzhou Pleasant Arts Flower Co., Ltd., and SG Silk Flower Limited
By Application (Volume, Million Units, USD Million, 2019-2030)
By Material (Volume, Million Units, USD Million, 2019-2030)
By Distribution Channel (Volume, Million Units, USD Million, 2019-2030)
By Country (Volume, Million Units, USD Million, 2019-2030)
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