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Saturday, July 13, 2024

Growing Demand for Decorative Wreaths to Propel Market Value to £1.2 Billion by 2030

The global market for decorative wreaths is expected to experience a steady growth rate, with a projected compound annual growth rate (CAGR) of 4.5% from 2022 to 2030. By the end of this period, the market value is anticipated to reach £1.2 billion. Wreaths.co.uk, a prominent wreath provider, reports an increase in demand for both fresh and artificial decorative wreaths. Customers are placing emphasis on durability, reusable components, natural materials, and aesthetic appeal.

Despite a “rocky recovery” predicted by the International Monetary Fund for the global economy, certain sectors continue to demonstrate resilience and achieve above-average growth. The global decorative wreaths market is one such sector.

According to Industry Growth Insight, the growth of the decorative wreaths market is driven by rising demand from commercial and personal customers. The market is expected to reach a value of £1.2 billion by 2030, with a CAGR of 4.5% from 2022 to 2030. Research conducted by Data Intelo estimates that the global decorative wreaths market will more than double in value between 2023 and 2030.

The wreaths market is commonly categorised into fresh and artificial products, with further segmentation based on shapes (round or square) and specific events or seasons. Wreaths.co.uk, catering to all these segments, highlights the growing demand for do-it-yourself (DIY) wreath-making kits.

Tom Yates, Director of TYSR Limited, the company behind Wreaths.co.uk, states, “There is a growing demand for decorative wreaths both in the UK and worldwide. Our customers seek wreaths for various occasions, including weddings, funerals, Halloween, Easter, and Christmas, as well as for different seasons. Many consumers are now embracing the opportunity to create their own wreaths, which provides a mindful activity, immerses them in the floral scent, and results in a stunning home decoration.”

Industry Growth Insight notes that decorative wreaths are particularly popular in North America, Europe, and the Asia Pacific region, followed by markets in Latin America and the Middle East and Africa. The research company highlights that wreaths are gaining popularity not only due to their aesthetic appeal but also because of their durability.

Tom Yates from Wreaths.co.uk adds, “Consumers are increasingly moving away from the throwaway culture and seeking longer-lasting, more natural, and durable products. Wreaths perfectly align with these preferences, as fresh wreaths can last up to eight weeks and artificial ones can last for years. With fresh wreaths, customers can reuse the wire framework for multiple years, simply changing the foliage to match the season, event, or their mood.”

For such enduring products, especially artificial wreaths, timeless elegance is crucial. This is why the floral designers at Wreaths.co.uk invest considerable effort into crafting each of their handmade wreaths.

Sam Allcock
Sam Allcockhttps://businesslancashire.co.uk/
Sam Allcock is a highly regarded digital entrepreneur with over 20 years’ experience in online marketing for some of the World’s biggest brands. He has extensive knowledge and experience in SEO and digital marketing. He is based in Cheshire but has an interest in all things going on in the North West and enjoys contributing local news to the site.
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