According to the findings of a new report made available by Radiant Insights, Inc.; the global bonsai market is anticipated to witness a rapid expansion over the forecast period i.e., from 2018 to 2025. Bonsai is a Japanese art of growing miniature trees in small pots. Bonsai trees are best suited for outdoor environments; however, they can also be grown indoors with sufficient watering and sunlight. The popularity of this art is increasing day by day owing to their aesthetically pleasing shapes and nominal maintenance. This is expected to drive the global market for bonsai in the forthcoming years. Moreover, growing number of gardening enthusiasts and hobbyists across the globe is also projected to spur the market expansion in near future.
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In addition, the bonsai or tray planting art provides a great opportunity to make money. This is expected to be one of the key growth drivers for the market. Drastically reducing agricultural spaces as a result of growing urbanization across the globe is also projected to contribute toward the market expansion. Moreover, high demand for such tiny trees from various metropolitan regions due to the lack of space in these areas is also anticipated to spur the growth of bonsai market over the next few years.
Apartment residents in urban areas do not have much free space apart from a small balcony, for gardening. This is boosting the demand for bonsai plants. This factor is anticipated to create numerous growth opportunities for the global market. Furthermore, increasing awareness level among people regarding various benefits of bonsai plants, such as relieving stress and enhancing aesthetic appeal of the surroundings can further fuel the demand thereby supporting market development. A rising trend of gifting bonsai plants on special occasions like weddings and housewarmings as a result of increased environmental awareness is also projected to boost the market growth.
The global bonsai market is categorized as per product type, application, and region. On the basis of product type, the market is divided into landscape bonsai, stumps bonsai, and others. On the basis of application, the market is bifurcated into custom made bonsai and wholesale bonsai. On the basis of geographies, the market is fragmented into Southeast Asia, Japan, China, India, Europe, and North America. The Southeast Asia market is expected to have a high growth rate since the region is the origin of the art. Bonsai is part of the culture of the nations like China and Japan. This can impel the regional growth over the forecast period.
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In addition, reducing agricultural spaces due to constantly increasing population in the region can drive the demand for bonsai trees in the years to come. Moreover, increasing popularity of bonsai in other economies such as India due to the factors like enhanced standard of living, lack of space in urban areas, and increasing awareness regarding environment is also said to propel the regional market. Other regional markets including Europe and North America are also expected to have a steady expansion on account of higher disposable income level in these regions.
Many businesses in this field are coming up with new, innovative bonsai species in order to meet the rising demand. This factor is likely to have a major impact on the growth of the bonsai market. Aqua bonsai is the current market trend, which combines the traditional bonsai art with hydroponics system— practice of growing trees and plants without soil. Just like the traditional art form, aqua bonsai plants are also available in a variety of shapes and sizes. Some of the leading companies operating in the global market for bonsai include Bonsai New Zealand; Bonsai Network Japan; The Bonsai Company; Fern Valley Bonsai; and Lodder Bonsai B.V.
Explore Other Reports of This Category by Radiant Insights, Inc at
• Flower Seeds Market – https://www.radiantinsights.com/research/global-flower-seeds-industry-2018
• China Cottonseed Protein Market – https://www.radiantinsights.com/research/china-cottonseed-protein-industry-2018
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