According to the latest research, the Indian floral market is projected to reach INR 394 Billion by 2023, at a CAGR of 20% during 2018-2023.
The Indian floral industry could be easily categorised under three major segments, namely growers, wholesalers, and retailers. In fact, recent years have witnessed great uplift in these three segments, booming the floral industry as a whole.
According to the latest research, the Indian floral market is projected to reach INR 394 billion by 2023 at a CAGR of 20% during 2018-2023. These statistics should be enough to attract budding entrepreneurs that are looking for lucrative business options for initiating their entrepreneurial journey.
Brands such as Ferns N Petals, Casafleur, and Little Florist are already dominating the Indian flower industry, trying to enhance it into one great industry with their respective services. These brands are also offering franchise opportunities to aspiring franchisees for growing their businesses along with targeting potential investors for a hassle-free experience.
Ferns N Petals, as a franchising brand, is offering its franchise in a total investment of INR 6-7 lakhs, with an area requirement of 500 sq. ft.
Meanwhile, Casafleur demands a total investment around INR 20-30 lakhs, with an area requirement of 500-1000 sq. ft.
How the Floral Industry is becoming the Fastest Growing
Having been a niche segment for a very long time, the Indian floral industry is now among the fastest growing segments in the country. The growing awareness and high demand for this segment with each passing day are contributing to help the floral segment emerge as one of the fastest growing industries in Indian society.
Gone are those days when flowers weren’t cultivated for a commercial purpose. Times are changing and so is the flower industry. The recent shift in the situation has eventually made flower cultivation grow multi-fold where flowers are now an essential part of the social, professional, religious and other aspects of one’s life.
Thus, starting a floral business could be a profitable option where you could earn a handsome amount of revenue by selling flowers and bouquets to your customers.
Westernisation: An Important Factor behind the Booming Indian Floral Industry
Sending flowers for almost every occasion has been an old, western concept which we Indians have now gradually adopted. It could be considered as the latest trend where people now tend to greet each other by ordering or gifting a bunch of flowers or bouquetsto their known ones, irrespective of any occasion.
The Indian floral industry is still in its initial phase where budding entrepreneurs could act in order to emerge as a renowned player in the industry. Almost everyone, be it working professionals, dating or married couples, friends or even colleagues, people are looking for both online and offline options for purchasing flowers for all kinds of occasions like birthdays, farewells, tea parties, weddings, and generally all kinds of meets and greets. Hence, setting up a floral business of your own might be the right decision in today’s time.
Flowers: For any Special Ocassion
Flowers are typically something that can be gifted to anybody, regardless of people's age, sex, and religion. While most of us prefer to send flowers as a gift to our loved and dear ones, flowers now constitute an essential role in a human’s life.
Being a flower business owner can allow you to target different sets of audiences, most of who consider flowers as the best gifting option in modern time. Just be a little creative in introducing some add-on services along with selling flowers that could give your brand a unique presence in the market, allowing customers to buy both products and services from you, helping you grow as a brand.
Also, flowers are now great components of different types of events and weddings which in itself are some major industries in India. No wedding today is complete without flowers being an essential part of the theme and colour scheme. So, you could look out for collaboration with different event companies along with targeting the wedding sector for selling your flowers. You could also kick start with booking services where any individual could buy flowers from your firm on a large scale, especially for wedding or birthday parties.