| Product Code: ETC408985 | Publication Date: Oct 2022 | Updated Date: Feb 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
Philippines Carnation market currently, in 2023, has witnessed an HHI of 10000, Which has decreased substantially as compared to the HHI of 10000 in 2017. The market is moving towards Highly concentrated. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
The carnation market in the Philippines has shown resilience and growth despite challenges posed by changing floral preferences and market trends. Carnations have retained their popularity due to their long-lasting nature, vibrant colors, and suitability for various occasions. The market is not only driven by local demand for personal and gifting use but also by events, weddings, and other celebrations. The cultivation of carnations provides income opportunities for local farmers and contributes to the country`s floriculture industry.
In the Philippines, the carnation market is driven by the floral industry, particularly in the context of events like weddings, funerals, and celebrations. Carnations are favored for their beauty, fragrance, and symbolism. The market`s growth is influenced by changing consumer preferences, urbanization, and economic factors that affect spending on non-essential goods. Additionally, the global flower trade and technological advancements in cultivation and transportation impact the availability and variety of carnations in the market.
The Philippines carnation market faces challenges related to competition from imported flowers and shifts in consumer preferences. Carnations, though popular for their long-lasting blooms, compete with a variety of other floral options in the market. Maintaining consistent quality, meeting consumer demand for variety, and managing transportation and storage to ensure freshness pose challenges for local carnation producers.
The Philippines carnation market experienced challenges due to the COVID-19 pandemic. The market, largely driven by demand for cut flowers for events and celebrations, faced disruptions as social gatherings were limited to curb the virus`s spread. With events being canceled or scaled down, the demand for carnations as decorations significantly declined. Moreover, disruptions in the supply chain and transportation restrictions impacted the distribution of flowers. However, the market showed resilience as it adapted to new avenues such as online sales and local markets. Additionally, the gradual recovery of events and celebrations contributed to the market`s revival.
The Philippines carnation market is dominated by major producers such as Verde Farms Limited, Flora Folks Inc., Flower Delivery Manila Corporation, Philippine Blooms Co., LTD., Topsia Agroflora International Pvt Ltd., Oriental Flower Supplies & Services Corp., Tropical Cut Foliage Corporation and Gavino?s Flowers & Gifts Enterprises. These companies are responsible for growing high-quality cut flowers that are exported around the world for florists or used locally in floral arrangements or decorations at special occasions like weddings or holidays.