Floral flourish: Industry operators are expected to benefit from increased demand from online retailers
Revenue for Canadian florists has grown alongside strong economic growth following the pandemic. Consumers are increasingly opting to purchase flowers from retailers that are not included in the industry, like e-commerce retailers and supermarkets which offer convenience and lower prices. Growth in per capita disposable income and consumer spending has fuelled a jump in revenue, as consumer willingness to spend on discretionary goods has increased. As a result, revenue is expected to grow at a CAGR of 5.0% to $1.5 billion through the end of 2023, including growth of 2.1% in 2023 alone when profit will account for 6.1% of revenue.
The Florists industry in Canada retails cut flowers, floral arrangements and potted plants. Industry operators purchase these goods from domestic and international flower farms and wholesalers and then sell them to the general public. This industry excludes e-commerce and mail-order florists.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
Table of Contents
Methodology
LOADING...
