Last Updated on: 22nd November 2023, 10:42 am
The global market for decorative wreaths is expected to experience a steady growth rate with a CAGR of 4.5% from 2022 to 2030, reaching a market value of £1.2 billion by the end of the forecast period. Both fresh and artificial decorative wreaths are witnessing a surge in demand, as consumers seek durability, reusable components, natural materials, and aesthetic appeal.
Amidst the global economy’s “rocky recovery,” as projected by the International Monetary Fund, several sectors are displaying resilience and dynamic growth beyond the average. One such sector is the global decorative wreaths market.
According to Industry Growth Insight, the increasing demand from commercial and personal customers is driving the expansion of the decorative wreaths market. It is anticipated to attain a market value of £1.2 billion by 2030, with a compound annual growth rate of 4.5% from 2022 to 2030. Another research firm, Data Intelo, estimates that the global decorative wreaths market’s value will more than double between 2023 and 2030.
The wreaths market is commonly segmented into fresh and artificial products, with further divisions based on shape (round or square) and specific events or seasons. DIY wreath-making kits are also experiencing a rise in demand, according to expert florists at Wreaths.co.uk.
Tom Yates, Director of TYSR Limited, the company behind Wreaths.co.uk, explains, “There is a growing demand for decorative wreaths both in the UK and worldwide. Our customers are seeking wreaths for various occasions, from weddings and funerals to Halloween, Easter, and Christmas, as well as for seasonal decorations.”
Yates adds, “Many consumers are now embracing the opportunity to create their own wreaths. It can be a delightful mindful activity, immersing you in the fragrance of the flowers and the art of wreath-making, resulting in a stunning decoration for the home.”
The popularity of decorative wreaths extends beyond their aesthetic appeal and reaches regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Consumers are drawn to wreaths not only for their visual appeal but also for their longevity and durability.
Yates further emphasises, “Many consumers are shifting away from the disposable culture and seeking longer-lasting, natural, and durable products. Wreaths perfectly fit these criteria, with fresh wreaths lasting up to eight weeks and artificial ones for years. With fresh wreaths, you can also reuse the wire framework for years, simply changing the foliage to match the season, event, or mood.”
For such enduring products, especially artificial wreaths, timeless elegance is paramount. That’s why the floral designers at Wreaths.co.uk meticulously consider the design of each handcrafted wreath they create.
