Hibiscus Procurement Intelligence
The hibiscus category is anticipated to grow at a CAGR of 5% from 2023 to 2030.
The category demand is mainly driven by the increasing usage in the food and beverages industry. According to the 2022 food and beverage flavor trends report, hibiscus is noted as one of the trending flavors, with its presence on menus increasing by 25% from Q2 2018 to the corresponding period in 2021. Hibiscus, a versatile plant with numerous health advantages, presents a wealth of possibilities for product innovation and ingredient creation within this industry, which continually adapts to shifting healthcare trends and evolving consumer preferences. In recent years, there has been growing interest in hibiscus as a functional ingredient. Extract from this flower can contribute to reducing blood pressure, enhancing lipid profiles, lowering bad cholesterol levels, and delaying the absorption of sugar into the bloodstream.
Order your copy of the Hibiscus category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis
Hibiscus Procurement Intelligence Report Scope
The Hibiscus category is expected to have pricing growth outlook of 4% - 5% from 2023 to 2030, with below pricing models.
- Volume-based pricing
- product-based pricing
- competition-based pricing
Supplier Selection Scope of Report
- Cost and pricing
- volume
- cultivation capacity
- geographical presence
- compliance
Supplier selection criteria of Report
- Quality of flower
- product range
- contract terms
- delivery option
- safety and environmental compliance
- location and presence of supplier
- others
Hibiscus Procurement Intelligence Report Coverage
Grand View Research will cover the following aspects in the report:
- Market Intelligence along with emerging technology and regulatory landscape
- Market estimates and forecasts from 2022 to 2030
- Growth opportunities, trends, and driver analysis
- Supply chain analysis, supplier analysis with supplier ranking and positioning matrix, supplier’s recent developments
- Porter’s 5 forces
- Pricing and cost analysis, price trends, commodity price forecasting, cost structures, pricing model analysis, supply and demand analysis
- Engagement and operating models, KPI, and SLA elements
- LCC/BCC analysis and negotiation strategies
- Peer benchmarking and product analysis
- Market report in PDF, Excel, and PPT and online dashboard versions
Hibiscus Procurement Cost and Supplier Intelligence
Category suppliers, such as farmers and agricultural cooperatives, may have moderate to low bargaining power. This is because there are often multiple suppliers available, and hibiscus cultivation is not dominated by a small number of suppliers. However, the quality and availability of hibiscus can vary depending on geographic regions and climate conditions, which could give some suppliers more leverage.
Seed cost, nursery management cost, labor cost, chemical (pesticides cost), transportation, and others are some of the cost components in the cultivation of hibiscus. Market players encounter significant challenges such as unpredictable raw material supply, disorganized and insufficiently supervised expansion, and a shortage of skilled labor for both pre-harvest and post-harvest activities. Nonetheless, the growing demand for this product in the end-use sector is anticipated to encourage growers to choose hibiscus production in the coming period. In India, the average price of dried hibiscus flowers is around USD 3.61 to 4.82 per kilogram. Similarly in China, the prices are between USD 10 to 15 per kilogram.
List of Key Suppliers
- YMX India Organic Farm
- Yesraj Agro Exports
- Hibiscus Farm
- Berry Nursey
- Petitti Garden Centers
- AgriFarming
- Fancy Hibiscus
- The Republic of Tea
- Hidden Valley Nature Arts
- Smithsonian Gardens
Add-on Services provided by Grand View Research Pipeline:
- Should Cost Analysis
Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process
- Rate Benchmarking
Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier
- Salary Benchmarking
Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.
- Supplier Newsletter
A typical newsletter study by capturing latest information for specific suppliers related to: MAs, technological innovations, expansion, litigations, bankruptcy etc.
Browse through Grand View Research’s collection of procurement intelligence studies:
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Brief about Pipeline by Grand View Research:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.
Our services include (not limited to):
- Market Intelligence involving – market size and forecast, growth factors, and driving trends
- Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
- Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
- Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
