Plant & Flower Growing in Canada - Industry Market Research Report

Growing strong: Increasing disposable income will likely limit more drastic declines in industry revenue

Plant and flower growers have endured volatility in recent years amid overall revenue growth. Growers work with nursery and floriculture products, including shrubbery, cut flowers, ornamental plants and short rotation woody crops, like Christmas trees. The industry has performed well through the end of 2023, aided by economic growth domestically and in the United States. Unlike many industries, revenue grew in 2020 despite the spread of COVID-19 as disposable income grew alongside demand for flowers and plants. Revenue growth has been supported by strong export growth, which has also contributed to a growing level of profit. Plant and flower growing revenue is expected to grow at a CAGR of 1.4% to $2.4 billion through the end of 2023, despite a decline of 2.1% in 2023 alone when profit will account for 12.2% of revenue. Operators in the Plant and Flower Growing industry in Canada grow nursery and floriculture products, such as shrubbery, cut flowers, ornamental plants and short rotation woody crops, such as Christmas trees. These plants may be grown under cover or in an open field. 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 key players and their market shares.