Bonsai Market to Reach $14.3 Billion, Globally, by 2033 at 10.5% CAGR: Allied Market Research
Wilmington, Delaware , Sept. 18, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Bonsai Market by Type (Stumps bonsai and Landscape bonsai), and Application (Wholesaler bonsai and Custom made bonsai): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the bonsai market was valued at $5.3 billion in 2023, and is estimated to reach $14.3 billion by 2033, growing at a CAGR of 10.5% from 2024 to 2033.
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Prime determinants of growth
Compact and visually beautiful indoor plants are in high demand among urban dwellers owing to limited space, as urbanization continues to grow. A wider audience is attracted to bonsai due to its increased accessibility due to technological developments in e-commerce and digital education. Bonsai is being promoted as an eco-friendly and sustainable hobby by growing environmental consciousness. The global popularity of bonsai is increased owing to culture and the international exchange of styles and techniques. Furthermore, bonsai cultivation's therapeutic advantages such as stress relief and mindfulness are emphasized by the health and wellness movement. All these factors contribute to the bonsai market growth and diversity.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $5.3 billion |
| Market Size in 2033 | $14.3 billion |
| CAGR | 10.5% |
| No. of Pages in Report | 250 |
| Segments Covered | Type, Application, and Region. |
| Drivers | Growing Interest in Gardening and Horticulture |
| Cultural Appreciation and Heritage | |
| Urbanization and Space Constraints | |
| Opportunities | Educational Programs and Workshops |
| Collaborations and Cultural Exchange | |
| Restraints | High Maintenance and Skill Requirement |
| Initial High Cost |
Segment Highlights
By type, the stumps bonsai segment dominated the market with the highest share in 2023. Yamadori bonsai, also known as stump bonsai, is the art of crafting naturally stunted trees from the wild. These trees are typically found in difficult locations where they have acquired distinctive shapes and personalities. The inherent beauty and traditional appearance of the trees make this practice extremely valuable. The authenticity and challenge stumps bonsai pose to cultivators make them highly valued in the bonsai market. However, since sustainable methods are essential to maintaining natural landscapes, ethical issues and legal restrictions surrounding the collection of wild trees are significant. Due to the natural history and artistic potential these trees offer, collectors and artists are driving an increasing demand for stumps bonsai.
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By application, the wholesale bonsai segment dominated the market in 2023. The wholesale bonsai market offers a variety of bonsai plants, tools, and supplies in bulk to nurseries, garden centers, and specialized shops. Large-scale distribution is supported by this segment, guaranteeing a consistent supply of common and exotic bonsai species to satisfy a range of customer requirements. Retailers can sustain high-profit margins because wholesale suppliers frequently provide competitive pricing. Important participants in this sector include well-known nurseries with significant growing spaces and importers who procure premium bonsai from countries like as China and Japan. Direct access to wholesale bonsai products is made easier by the growth of e-commerce, which has also streamlined the supply chain and broadened the market. This market segment is essential to maintaining the bonsai market's overall growth and accessibility.
Regional Outlook
Japan continues to be a global leader in the bonsai market due to its rich cultural heritage and superior handcrafted bonsai, which meet significant demand both domestically and internationally. Growing affluence and a resurgence of interest in traditional arts are driving market expansion in China. The Asia-Pacific region is home to a variety of bonsai traditions, with South Korea and Taiwan leading the way in an expanding sector influenced by regional flora and cultural norms. The growing interest in bonsai is evident in European countries, driven by the European Bonsai Association. Meanwhile, Australia and New Zealand are becoming more popular because of their active community involvement and educational programs.
Players: -
- The Bonsai Company
- Bonsai Design
- Loder Bonsai BV
- Bonsai Network Japan
- Bonsai Outlet
- Bonsai New Zealand
- Fern Valley Bonsai
The report provides a detailed analysis of these key players in the global bonsai market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Development:
- In March 2023, the CARLISLE Bonsai Club expanded and brought in new members. After moving to the Harraby Community Centre in the early 1990s, the club is currently working to expand in global markets.
- In May 2023, the Department of Forest and Wildlife of Chandigarh brought together 74 plant species that are up to 35 years old to establish Bonsai World in the Botanical Garden of Sarangpur.
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