| Product Code: ETC5830052 | Publication Date: Nov 2023 | Updated Date: Nov 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 60 | No. of Figures: 30 | No. of Tables: 5 |
In 2024, Cape Verde continued to rely heavily on imports of artificial flowers, with top suppliers including Portugal, China, Paraguay, Spain, and the Netherlands. The market remained highly concentrated, with a high Herfindahl-Hirschman Index (HHI) indicating limited competition. Despite a modest compound annual growth rate (CAGR) of 3.21% from 2020 to 2024, there was a notable decline in growth rate from 2023 to 2024 at -13.05%. This fluctuation suggests potential shifts in consumer demand or supply chain disruptions impacting the artificial flower market in Cape Verde.

The Artificial Flower market in Cabo Verde is projected to grow at a high growth rate of 11.84% by 2027, highlighting the country's increasing focus on advanced technologies within the Africa region, where Egypt holds the dominant position, followed closely by South Africa, Ethiopia, Algeria and Nigeria, shaping overall regional demand.

1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Cape Verde Artificial Flower Market Overview |
3.1 Cape Verde Country Macro Economic Indicators |
3.2 Cape Verde Artificial Flower Market Revenues & Volume, 2021 & 2031F |
3.3 Cape Verde Artificial Flower Market - Industry Life Cycle |
3.4 Cape Verde Artificial Flower Market - Porter's Five Forces |
3.5 Cape Verde Artificial Flower Market Revenues & Volume Share, By Material Type, 2021 & 2031F |
3.6 Cape Verde Artificial Flower Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 Cape Verde Artificial Flower Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Growing demand for decorative items in events and weddings |
4.2.2 Increasing popularity of artificial flowers for sustainable and long-lasting decorations |
4.2.3 Rising disposable income leading to higher spending on home decor and gifts |
4.3 Market Restraints |
4.3.1 Seasonality of demand for artificial flowers based on events and festivals |
4.3.2 Competition from fresh flower market impacting sales |
4.3.3 Lack of awareness about the quality and variety of artificial flowers available in the market |
5 Cape Verde Artificial Flower Market Trends |
6 Cape Verde Artificial Flower Market Segmentations |
6.1 Cape Verde Artificial Flower Market, By Material Type |
6.1.1 Overview and Analysis |
6.1.2 Cape Verde Artificial Flower Market Revenues & Volume, By Clay & Porcelain, 2021-2031F |
6.1.3 Cape Verde Artificial Flower Market Revenues & Volume, By Cotton & Silk, 2021-2031F |
6.1.4 Cape Verde Artificial Flower Market Revenues & Volume, By Leather & Nylon, 2021-2031F |
6.1.5 Cape Verde Artificial Flower Market Revenues & Volume, By Paper & Wax, 2021-2031F |
6.1.6 Cape Verde Artificial Flower Market Revenues & Volume, By Plastic & Polyester, 2021-2031F |
6.2 Cape Verde Artificial Flower Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 Cape Verde Artificial Flower Market Revenues & Volume, By Commercial, 2021-2031F |
6.2.3 Cape Verde Artificial Flower Market Revenues & Volume, By Residential, 2021-2031F |
7 Cape Verde Artificial Flower Market Import-Export Trade Statistics |
7.1 Cape Verde Artificial Flower Market Export to Major Countries |
7.2 Cape Verde Artificial Flower Market Imports from Major Countries |
8 Cape Verde Artificial Flower Market Key Performance Indicators |
8.1 Customer satisfaction with the variety and quality of artificial flowers |
8.2 Number of new product introductions and innovations in the artificial flower market |
8.3 Rate of repeat purchases from customers for artificial flowers |
9 Cape Verde Artificial Flower Market - Opportunity Assessment |
9.1 Cape Verde Artificial Flower Market Opportunity Assessment, By Material Type, 2021 & 2031F |
9.2 Cape Verde Artificial Flower Market Opportunity Assessment, By Application, 2021 & 2031F |
10 Cape Verde Artificial Flower Market - Competitive Landscape |
10.1 Cape Verde Artificial Flower Market Revenue Share, By Companies, 2024 |
10.2 Cape Verde Artificial Flower Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |
Export potential enables firms to identify high-growth global markets with greater confidence by combining advanced trade intelligence with a structured quantitative methodology. The framework analyzes emerging demand trends and country-level import patterns while integrating macroeconomic and trade datasets such as GDP and population forecasts, bilateral import–export flows, tariff structures, elasticity differentials between developed and developing economies, geographic distance, and import demand projections. Using weighted trade values from 2020–2024 as the base period to project country-to-country export potential for 2030, these inputs are operationalized through calculated drivers such as gravity model parameters, tariff impact factors, and projected GDP per-capita growth. Through an analysis of hidden potentials, demand hotspots, and market conditions that are most favorable to success, this method enables firms to focus on target countries, maximize returns, and global expansion with data, backed by accuracy.
By factoring in the projected importer demand gap that is currently unmet and could be potential opportunity, it identifies the potential for the Exporter (Country) among 190 countries, against the general trade analysis, which identifies the biggest importer or exporter.
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