Project report for Artificial Flower

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Introduction

Artificial Flower industry in India is growing day by day. Now a days people trend to move towards artificial flowers and People largely prefer to use artificial flowers over natural ones as they are long-lasting and are easily available in different colors and textures. Professional consumers such as gardens, hotels, and others largely seek to purchase fire retardant and weather resistant fake flowers for decoration purposes. Rise in the use of decoration may fuel the growth of market. It is a highly profitable business which provide great employment oppourtunity.

Artificial flowers are commonly used for the home & garden decoration purposes. Artificial plants are imitations of natural plants used for commercial or residential decoration. They are sometimes made for scientific purposes (the collection of glass flowers at Harvard University, for example, illustrates the flora of the United States). Artificial plants vary widely from mass-produced varieties that are distinguishable from real plants by casual observation to highly detailed botanical or artistic specimens. Materials used in their manufacture have included painted linen and shavings of stained horn in ancient Egypt, gold and silver in ancient Rome, rice-paper in China, silkworm cocoons in Italy, colored feathers in South America, and wax and tinted shells. Modern techniques involve carved or formed soap, nylon netting stretched over wire frames, ground clay, and mass-produced injection plastic moldings. Polyester has been the main material for manufacturing artificial flowers since the 1970s. Most artificial flowers in the market nowadays are made of polyester fabric. The artificial flowers are visually attractive, easily available, comes with various designs & sizes and mainly not fade away. Artificial flowers are usually used for decoration purpose in a commercial and residential application as a substitute for natural flowers. In addition, artificial flowers are not affected by climate conditions and provide a feeling of real flowers, this is why they are adopted largely. Currently, the artificial flowers which are typically made of polyester and plastic materials, are used in winter weddings, permanent floral displays, and crafts.

Market potential & Strategy

The Global Artificial Flowers Market is expected to grow from INR 572,920.980 Crores in 2019 to INR 659,284.520 Crores by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 2.36%. The growing trend of indoor & outdoor decoration across the globe is largely driving the demand for such products. Additionally, rising gift-giving trends among the people in the various meet-ups and events across the globe have skyrocketed the growth of the market. Fake flowers are widely used in the display of merchandise at the various retail stores & supermarkets. Therefore, the presence of large infrastructural facilities related to convenience stores and supermarkets across the globe is strongly supporting the demand for such products. The increasing demand for artificial flowers at a lower cost is the major factors expected to drive growth of the global market over the forecast period. Increasing demand for artificial flowers during off-seasons due to the availability of artificial flowers in all seasons is another factor expected to further fuel growth of the target market over the forecast period. Furthermore, increasing demand from the event management sector to decorate homes and commercial places during festivals is growing significantly, which in turns anticipated to drive growth of the global market. The event management sector depends on artificial flowers for floral arrangement and is used as a gifting item. In addition, demand for pre-made floral arrangements is increasing is some of the key factors expected to support growth of the global market over the forecast period.

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