Indoor Plants Market Size to Reach USD 30.4 Billion by 2032 growing at 6.6% CAGR - Exclusive Report by Acumen Research and Consulting
The global Indoor Plants Market size occupied USD 16.2 Billion in 2022 and is estimated to arrive at a size of around USD 30.4 Billion by 2032 rising with a CAGR of 6.6% during the forecasted years, as reported by Acumen Research & Consulting
The indoor plants industry has been growing steadily in recent years, driven by increasing consumer awareness of the health benefits of indoor plants, rising demand for sustainable and eco-friendly home decor options, and growing interest in indoor gardening. With more people spending time indoors, especially in urban areas, indoor plants have become a popular way to improve air quality, reduce stress levels, and add aesthetic value to homes and workplaces.
Recent trends in the indoor plants market include a growing interest in succulent plants, which are known for their easy care and unique forms and textures. Herbaceous plants, including flowering and non-flowering varieties, are also popular choices for indoor gardens and decor. Additionally, there is a growing demand for hydroponic plants, which are grown in water rather than soil and are seen as a more sustainable and efficient way to grow plants indoors.
Opportunities in the indoor plants market include expanding into new regions, such as the Asia Pacific region, where there is a growing demand for indoor plants due to rising levels of air pollution in urban areas. Manufacturers and suppliers can also focus on developing new products and varieties of indoor plants that offer unique visual appeals or health benefits, such as air purification or stress reduction. With the increasing focus on sustainable and eco-friendly living, there is also an opportunity to promote the environmental benefits of indoor plants, such as their ability to reduce carbon dioxide levels and improve indoor air quality.
Indoor Plants Market Statistics
- Global indoor plants market revenue accounted for USD 16.2 billion in 2022, with a 6.6% CAGR from 2023 to 2032
- Asia-Pacific indoor plants market share occupied around 34% in 2022
- North American indoor plants market growth is projected to attain over 7% CAGR from 2023 to 2032
- By type, the retail scale sub-segment grabbed over 44% share in 2022
- Among applications, the air purification sub-segment gathered USD 9.7 billion in revenue in 2022
- The growing interest in hydroponic plants is a recent indoor plants market trend
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Indoor Plants Market Dynamics
Growing Interest in Biophilic Design Propels the Indoor Plants Market Value
The growing interest in biophilic design is a trend in the indoor plants industry. Biophilic design is an approach to architecture and interior design that seeks to connect people with nature and natural elements. It involves incorporating natural materials, textures, and colors into indoor spaces, as well as introducing plants and greenery.
Indoor plants play a significant role in biophilic design, as they provide a way to bring nature into indoor environments. The use of indoor plants in biophilic design has been linked to improved health and well-being, as well as increased productivity and creativity.
As a result, there is a growing demand for indoor plants that are well-suited to biophilic design, such as large tropical plants like palms and ferns, or plants with unique textures and shapes that can create a focal point in a room.
The trend towards biophilic design is expected to continue in the coming years, as more people seek to create indoor spaces that are not only aesthetically pleasant but also promote a sense of comfort and connection with nature. This presents an opportunity for manufacturers and suppliers to develop and market indoor plants that are specifically tailored to the needs of biophilic design.
Increasing Popularity of Online Plant Shopping and Delivery Services Will Generate Surplus Indoor Plants Market Opportunities
Another trend in the indoor plants industry is the increasing popularity of online plant shopping and delivery services. With the rise of e-commerce and online marketplaces, more people are turning to the internet to buy indoor plants, rather than visiting physical stores.
Online plant shopping and delivery services offer several benefits to consumers, including convenience, a wider selection of plants, and the ability to compare prices and read reviews from other customers. Additionally, with many people spending more time at home due to the COVID-19 pandemic, the demand for online plant shopping and delivery services has increased even further.
To meet this growing demand, many indoor plant manufacturers and suppliers have started to offer online ordering and delivery services, either through their own websites or through third-party e-commerce platforms. This trend is expected to continue in the coming years, as more people embrace online shopping and seek to incorporate indoor plants into their homes and workspaces.
Indoor Plants Market Segmentation
The global market has been categorized into type, product, application, and region.
- The type segment is split into shade-loving plants, low-light plants, and high-light plants
- Based on product, the market is divided into air purification and home decoration
- The application segment is bifurcated into succulent plants, herbaceous plants, woody plants, and hydroponic plants
- The market is divided into five regions that are North America, Europe, Latin America, Asia-Pacific, and The Middle East and Africa (MEA)
Indoor Plants Market Share
According to the indoor plants industry analysis, the shade-loving plants sub-segment will have the largest market share in 2022. On the other hand, low-light plants are likely to attain the fastest growth rate during the forecasted timeframe from 2023 to 2030.
In terms of products, the succulent plants sub-segment is expected to gather noteworthy market share in the coming future.
According to the indoor plants market forecast, the air purification sub-segment will account for a substantial portion between 2023 and 2032. Home decoration, on the other hand, is expected to thrive in the next years.
Indoor Plants Market Regional Outlook
The Asia-Pacific indoor plants market is expected to experience significant growth in the coming years, driven by rising consumer demand for indoor plants in urban areas, where air pollution levels are high. Countries like China, Japan, and India are leading markets for indoor plants in the region, with consumers looking for plants that can purify the air, reduce stress levels, and add aesthetic value to their homes.
The North American indoor plants market is driven by the growing popularity of indoor gardening, increasing awareness of the health benefits of indoor plants, and rising demand for sustainable and eco-friendly home decor options. The United States is the largest market for indoor plants in the region, due to its large population and high levels of disposable income.
The European indoor plants market is characterized by a high level of consumer awareness and interest in eco-friendly and sustainable living. Countries like Germany, the UK, and France are leading markets for indoor plants in the region, with consumers seeking out plants that are easy to care for, visually appealing, and offer health benefits.
Indoor Plants Market Players
Some prominent indoor plants companies covered in the industry include Costa Farms, The Sill, 1-800-Flowers.com, Bloomscape, UrbanStems, Terrain, Plantshed, ProFlowers, PlantX, Léon & George, FTD, and The Bouqs Co.
In 2021, Costa Farms announced a new line of indoor plants called "Greenhouse in a Box." These plants are designed to be low-maintenance and come with everything needed for easy assembly and care, including a decorative pot and care instructions.
In 2021, The Sill announced a new partnership with West Elm, a popular home decor retailer. The partnership involves The Sill opening new plant shops within West Elm stores across the United States, making it easier for customers to purchase indoor plants and planters.
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