[Report] Bulbs and Cut Flowers TOC

I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS

Study Reliability and Reporting Limitations I-1
Disclaimers I-2
Data Interpretation & Reporting Level I-2
Quantitative Techniques & Analytics I-3
Product Definitions and Scope of Study I-3
Characteristics of Cut Flowers I-4
Types of Fresh Cut Flowers I-4
Surprise Lily or Magic Lily I-4
Daffodils or Narcissus I-4
Roses I-5
Galanthus I-5
Hyacinths I-5
Hippeastrum I-5
Easter Lily I-6
Tulips I-6
Crocus I-6
Bulbs - An Introduction I-7

II. EXECUTIVE SUMMARY

1. Industry Overview II-1

Market Outlook II-2
Market Structure II-2
Players Gearing Up to Withstand Competition II-3
Challenges Ahead II-3
Cut Flowers Imports and Exports II-4
Table 1: Global Imports of Cut Flowers in 2005: Percentage Breakdown by Country for UK, Germany, US, The Netherlands, France, Japan, Italy, Switzerland, Belgium, Russian Federation and Others (includes corresponding Graph/Chart) II-4
Table 2: Global Exports of Cut Flowers in 2005: Percentage Breakdown by Country for The Netherlands, Colombia, Ecuador, Kenya, Israel, Italy, Spain, Belgium, Germany Thailand and Others (includes corresponding Graph/Chart) II-4

2. Market Trends II-5

Symbol of Style and Luxury II-5
Quality Triumphs II-5
Emergence of Mass Markets II-5
Advertisement and Promotional Expenditure is Rising II-5
Various Purchasing Patterns II-5
Technological Changes II-6
High Costs of Living Boost Floral Sales II-6
Fluctuating Prices II-6
Opportunities Shift to New Competitive Markets II-6
Change in Consumer Preferences II-6
Market Saturation II-7
Organic Flowers Offer Bright Prospects II-7

3. Key Market Drivers/Restraints II-8

Efficient Transportation II-8
Occasional Buy II-8
National Attitudes Affect Cut Flower Consumption II-8
Disposable Incomes and Other Financial Factors II-8
Product Innovations and Production Techniques II-8
Oversupply Reduces Prices II-9
Varied Costs of Production II-9
Favorable Conditions for Developing Countries II-9
Governments Plays Significant Role II-9
Flexibility Flashes II-9
Pesticides Slash Demand II-10
Proximity to the Main Market II-10

4. Product Overview II-11

Cut Flowers II-11
Characteristics of Cut Flowers II-11
Cultivation of Cut Flowers II-11
Plantation II-11
Watering II-12
Flower Reaping II-12
Market for Cut Flowers II-12
Keeping the Flowers Fresh II-12
Woodies or Woody Ornamentals II-13
Dried Flowers II-13
Product Segments II-14
Types of Fresh Cut Flowers II-14
Surprise Lily or Magic Lily II-14
Characteristic II-14
Description of Surprise Lily II-15
Daffodils or Narcissus II-15
Description II-15
Cultivation II-15
Characteristics II-16
Roses II-16
Roses Carry Messages II-16
Roses - A Classification II-16
Long Stemmed Roses II-17
Intermediate Roses II-17
Sweethearts II-17
Spray Roses II-17
Miniature Roses II-18
Cultivation of Roses II-18
Varying Weather Conditions II-18
Post-Plantation Care II-19
Cutting Stage II-19
Market for Cut Roses II-19
Tough Time for Temperate Growers II-20
Factors Restraining the Production II-20
Quality Conquers the Market II-20
Market Opportunities II-20
Diseases II-21
Red Spider Mite Ruins Roses II-21
Thrips Damage Petals II-21
White Fly Weakens Young Plant II-21
Botrytis Damages the Blooms II-21
Powdery Mildew - Grower' s Terror II-21
Leaf Roller II-22
Downy Mildew Destroys the Plant II-22
Aphis II-22
Crown Gall II-22
Galanthus II-22
Hyacinths II-22
Outdoor Cultivation II-23
Cultivation in Pots II-23
Hyacinth Beans II-23
Summer Hyacinth II-24
Grape Hyacinth or Feather Hyacinth II-24
Description II-24
Cultivation II-24
Types of Muscari II-25
Hippeastrum II-25
Description II-25
Types of Hippeastrum II-26
Cultivation II-26
Cultivation in Flower Pots II-26
Easter Lily II-27
Cultivation of Easter Lily II-27
Post Plantation Care II-27
Propagation of Easter Lily II-28
Facts and Fables about Easter Lily II-28
Traditional Flower for Easter II-28
Spiritual Beliefs II-28
Easter Lily - Emblem of Hope and Glory II-28
Tulips II-29
Tulips Production II-29
Tulip Disorder II-29
Market for Tulips II-30
Crocus II-30
Bulbs - An Introduction II-30
Bulb Structure II-30
Bulbs Cultivation II-31
Fertilization II-31
Post Plantation Care II-32
Bulb Growth II-32
Growth Restraints II-32
Bulbs Add Splatter of Colors II-32
Bulbs - A Classification II-32
Spring-Blossoming Bulbs II-33
Planted with Shrubs II-33
Wait Till Maturity II-33
Summer-Blossoming Bulbs II-33
Bulb Forms II-33
True Bulbs II-34
Corms II-34
Tubers II-34
Rhizomes II-34
Tuberous Roots II-34
Bulb Plants II-35
Hardy Cyclamen II-35
Plantation of Cyclamen II-35
Pineapple Lily II-35
Plantation II-35
Amarcrinum Howardii II-36
African Lily II-36
African Lily Gardening II-36
Canna Lily II-36
Nerine Bowdenii Bulb II-36
Cultivation of Nerine Bowdenii II-37
Scarborough Lily II-37
Cultivation in Pots II-37
Lily of the Valley II-37
Blackberry Lily II-37
Christmas Bells II-37
Plantation in Pots II-38
Crocosmia Lucifer II-38
Gardening of Crocosmia Lucifer II-38
Fancy Leafed Caladiums II-38
Anemone De Caen II-39
Iris II-39
Chincherinchee II-39
Cultivation II-39
Dahlia II-40
Cultivation of Dahlias II-40
Naomi Dahlia II-40
Daylily II-40
Montbretia II-40
Queen Fabiola II-41
Gardening II-41
Calla Lily II-41
Giant Dutch Iris II-41
Lily II-41
Varieties of Lily II-42
Root Based Lily Bulbs II-42
Lily Family II-42
Cultivation in Pots II-42
Pre-Cultivation Process II-43
Post-Production Care II-43
Gardening of Lily II-43
Diseases II-43
Market for Lilies II-44
Begonias II-44
Cultivation II-44
Freesia II-44
Ranunculus II-45
Gardening of Ranunculus II-45
Arum Italicum II-45
Gladiolus II-45
Chinese Ground Orchid II-45
Climbing Lily II-46

5. Packaging II-47

Types of Packaging II-47

6. Channels of Distribution II-48

Numerous Wholesale and Retail Florists II-48
Major Channels of Distribution II-48

7. Product Innovations/Introductions II-49

Golden State Bulb Growers Introduces Intimate Ivory II-49
Golden State Bulb Growers Unveils Bridal Bliss II-49
Golden Sate Bulb Growers Launches Regal II-49
ProFlowers Launches Wedding Collection II-49
ProFlowers Introduces Branding Initiative II-49
Organic Bouquet Inc. Unveils Line of Natural Tulips II-49

8. Recent Industry Activity II-50

Group of Industry Associations Form an Alliance II-50
Itoshu Plans to Join Thai Airways II-50
Liberty Media Acquires Provide Commerce II-50
Speaking Roses Establishes SRDC II-50
Yuanjiang Xingyuan Plans Capacity Expansion II-50
Netherland Bulb Receives Supply Order from White House II-50
Langeveld Purchases BBX Machine II-50
Karuturi Floritech Acquires Christensen Flower Auction II-51
Speaking Roses International Inc. Acquires Speaking Roses, LLC II-51
Karuturi Floritech Inks an Agreement with ASDA II-51
Flower Plus Signs an Agreement with Ross Systems II-51
Speaking Roses Inks an Agreement with Dole Fresh Flowers II-51
ProFlowers Changes Name to Provide Commerce II-51
Itochu Signs an Agreement with Euro-Asia Agriculture II-52

9. Focus on Select Key Players II-53

1-800-Flowers.Com® (USA) II-53
Association Specialty Cut Flower Growers (USA) II-53
Anthos S.A. (France) II-53
Beijing Fengtai Haxiang Baipenyao United Company (China) II-53
Beijing Green Field Flowers (China) II-53
Dole Fresh Flowers (USA) II-54
Euro-Asia Agricultural (Holdings) Company Ltd (China) II-54
Florimex International (The Netherlands) II-54
Gee Tee Bulb Co. (UK) II-54
Golden State Bulb Growers (USA) II-55
Kunming Yunlan Flower Company (China) II-55
Lingarden Limited (UK) II-55
Netherland Bulb Co., Inc (The Netherlands) II-55
Olive Modern Agriculture Development Company Ltd (China) II-56
Pittsburgh Cut Flower Co. (USA) II-56
ProFlowers (USA) II-56
Speaking Roses International, Inc. (USA) II-57
TulipWorld (USA) II-57
Winchester Growers Limited (UK) II-58
World Flowers (UK) II-58
Zwetsloots Ltd (UK) II-58

10. Global Market Perspective II-59

Table 3: World Recent Past, Current & Future Analysis for Bulbs and Cut Flowers by Geographic Region - US, Japan Europe, China and Rest of World Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) II-59
Table 4: World Historic Review for Bulbs and Cut Flowers by Geographic Region - US, Japan, Europe, China and Rest of World Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) II-59
Table 5: World 20-Year Perspective for Bulbs and Cut Flowers by Geographic Region - Percentage Breakdown of Dollar Sales for US, Japan, Europe, China and Rest of World for the Years 1991, 1996, 2006 and 2010 (includes corresponding Graph/Chart) II-60
Table 6: World Recent Past, Current & Future Analysis for Roses by Geographic Region - US, Japan, Europe, China and Rest of World Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) II-61
Table 7: World Historic Review for Roses by Geographic Region - US, Japan, Europe, China and Rest of World Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) II-61
Table 8: World 20-Year Perspective for Roses by Geographic Region - Percentage Breakdown of Dollar Sales for US, Japan, Europe, China and Rest of World for the Years 1991, 1996, 2006 and 2010 (includes corresponding Graph/Chart) II-62
Table 9: World Recent Past, Current & Future Analysis for Lilies by Geographic Regions - US, Japan, Europe, China and Rest of World Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) II-63
Table 10: World Historic Review for Lilies by Geographic Regions - US, Japan, Europe, China, and Rest of World Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) II-63
Table 11: World 20-Year Perspective for Lilies by Geographic Region - Percentage Breakdown of Dollar Sales for US, Japan, Europe, China and Rest of World for the Years 1991, 1996, 2006 and 2010 (includes corresponding Graph/Chart) II-64
Table 12: World Recent Past, Current & Future Analysis for Gladioli by Geographic Region - US, Japan, Europe, China and Rest of World Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) II-65
Table 13: World Historic Review for Gladioli by Geographic Region - US, Japan, Europe, China and Rest of World Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) II-65
Table 14: World 20-Year Perspective for Gladioli by Geographic Region - Percentage Breakdown of Dollar Sales for US, Japan, Europe, China and Rest of World for the Years 1991, 1996, 2006 and 2010 (includes corresponding Graph/Chart) II-66
Table 15: World Recent Past, Current & Future Analysis for Tulips by Geographic Region - US, Japan, Europe, China and Rest of World Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) II-67
Table 16: World Historic Review for Tulips by Geographic Region - US, Japan, Europe, China and Rest of World Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) II-67
Table 17: World 20-Year Perspective for Tulips by Geographic Region - Percentage Breakdown of Dollar Sales for US, Japan, Europe, China and Rest of World for the Years 1991, 1996, 2006 and 2010 (includes corresponding Graph/Chart) II-68
Table 18: World Recent Past, Current & Future Analysis for Potted Chrysanthemums by Geographic Region - US, Japan, Europe, China and Rest of World Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) II-69
Table 19: World Historic Review for Potted Chrysanthemums by Geographic Region - US, Japan, Europe, China and Rest of World Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) II-69
Table 20: World 20-Year Perspective for Potted Chrysanthemums by Geographic Region - Percentage Breakdown of Dollar Sales for US, Japan, Europe, China and Rest of World for the Years 1991, 1996, 2006 and 2010 (includes corresponding Graph/Chart) II-70
Table 21: World Recent Past, Current & Future Analysis for Orchids by Geographic Region - US, Japan, Europe, China and Rest of World Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) II-71
Table 22: World Historic Review for Orchids by Geographic Region - US, Japan, Europe, China and Rest of World Markets Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) II-71
Table 23: World 20-Year Perspective for Orchids by Geographic Region - Percentage Breakdown of Dollar Sales for US, Japan, Europe, China and Rest of World for the Years 1991, 1996, 2006 and 2010 (includes corresponding Graph/Chart) II-72
Table 24: World Recent Past, Current & Future Analysis for Standard Carnations by Geographic Regions - US, Japan, Europe, China and Rest of World Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) II-73
Table 25: World Historic Review for Standard Carnations by Geographic Region - US, Japan, Europe, China and Rest of World Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) II-73
Table 26: World 20-Year Perspective for Standard Carnations by Geographic Region - Percentage Breakdown of Dollar Sales for US, Japan, Europe, China and Rest of World for the Years 1991, 1996, 2006 and 2010 (includes corresponding Graph/Chart) II-74
Table 27: World Recent Past, Current & Future Market Analysis for Other Bulbs & Cut Flowers by Geographic Region - US, Japan, Europe, China and Rest of World Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) II-75
Table 28: World Historic Review for Other Bulbs & Cut Flowers by Geographic Region - US, Japan, Europe, China and Rest of World Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) II-75
Table 29: World 20-Year Perspective for Other Bulbs & Cut Flowers by Geographic Region - Percentage Breakdown of Dollar Sales for US, Japan, Europe, China and Rest of World for the Years 1991, 1996, 2006 and 2010 (includes corresponding Graph/Chart) II-76

III. MARKET

1. The United States III-1

A. Market Analysis III-1
Market Overview III-1
Current and Future Analysis III-1
Historic Review III-1
Cut Flowers Imports and Exports III-2
Table 30: US Imports of Cut Flowers in 2005: Percentage Breakdown by Country for Colombia, Ecuador, The Netherlands, Mexico, Canada, Costa Rica, Asia, Guatemala, and Others (includes corresponding Graph/Chart) III-2
Distribution Channels III-2
Cut Flowers Trends III-3
Organic Cut Flowers Draw Wide Acceptance III-3
Huge Demand for Specialty Cut Flowers III-3
Quality is What Matters III-3
Technological Innovations Explore the Market III-3
Gardening - A Well-Established Hobby III-4
Burgeoning Demand for New Crops III-4
No Everyday Buying Tradition III-4
Internet - A Tool For Marketing and Distribution III-4
Bracing Up Competition III-4
Lifestyle Designers III-4
Prices Fall Due to Oversupply III-5
Blossoming Danger III-5
Product Launches/Developments III-5
Strategic Corporate Developments III-6
Focus on Key US Players III-8
1-800-Flowers.Com® III-8
Association Specialty Cut Flower Growers III-8
Dole Fresh Flowers III-8
Golden State Bulb Growers III-8
Pittsburgh Cut Flower Co. III-9
Plant Delights Nursery, Inc III-9
ProFlowers III-10
Speaking Roses International, Inc. III-10
TulipWorld III-11
B. Market Analytics III-11
Table 31: US Recent Past, Current & Future Analysis for Bulbs and Cut Flowers by Product Segment - Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) III-11
Table 32: US Historic Review for Bulbs and Cut Flowers by Product Segment - Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) III-12
Table 33: US 20-Year Perspective for Bulbs and Cut Flowers by Product Segment - Percentage Breakdown of Dollar Sales for Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers for the Years 1991, 1996, 2006 and 2010 (includes corresponding Graph/Chart) III-12

2. Japan III-13

A. Market Analysis III-13
Current and Future Analysis III-13
Historic Review III-13
Japanese Market Overview III-13
Orchids Production III-14
Imports and Exports of Cut Flowers III-14
Channels of Distribution III-14
Market Trends III-14
Rose Represents Status III-14
Imports on a Rise III-15
Gardening Bang Helps Imports III-15
Labor Shortage III-15
Changing Consumer Preferences III-15
Unusual Market Entrants III-15
Strategic Corporate Development III-16
B. Market Analytics III-16
Table 34: Japanese Recent Past, Current & Future Analysis for Bulbs and Cut Flowers by Product Segment - Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) III-16
Table 35: Japanese Historic Review for Bulbs and Cut Flowers by Product Segment - Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) III-17
Table 36: Japanese 20-Year Perspective for Bulbs and Cut Flowers by Product Segment - Percentage Breakdown of Dollar Sales for Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers for the Years 1991, 1996, 2006 and 2010 (includes corresponding Graph/Chart) III-17

3. Europe III-18

A. Market Analysis III-18
Current and Future Analysis III-18
Focus on Major Cut Flowers Segments III-18
Historic Review III-18
B. Market Analytics III-19
Table 37: European Recent Past, Current & Future Analysis for Bulbs and Cut Flowers by Geographic Region - France, Germany, UK, The Netherlands, Italy, Spain and Rest of Europe Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) III-19
Table 38: European Recent Past, Current & Future Analysis for Bulbs and Cut Flowers by Product Segment - Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) III-20
Table 39: European Historic Review for Bulbs and Cut Flowers by Geographic Region - France, Germany, UK, The Netherlands, Italy, Spain and Rest of Europe Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) III-20
Table 40: European Historic Review for Bulbs and Cut Flowers by Product Segment - Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) III-21
Table 41: European 20-Year Perspective for Bulbs and Cut Flowers by Geographic Region - Percentage Breakdown of Dollar Sales for France, Germany,UK, The Netherlands, Italy, Spain and Rest of Europe for the Years 1991, 1996, 2006 and 2010 (includes corresponding Graph/Chart) III-21
Table 42: European 20-Year Perspective for Bulbs and Cut Flowers by Product Segment - Percentage Breakdown of Dollar Sales for Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers for the Years 1991, 1996, 2006 and 2010 (includes corresponding Graph/Chart) III-22

3a. France III-23

A. Market Analysis III-23
Current and Future Analysis III-23
Historic Review III-23
French Market Overview III-23
Rising Demand for Roses III-24
Anthos S.A. - A Key French Player III-24
B. Market Analytics III-24
Table 43: French Recent Past, Current & Future Analysis for Bulbs and Cut Flowers by Product Segment - Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) III-24
Table 44: French Historic Review for Bulbs and Cut Flowers by Product Segment - Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) III-25
Table 45: French 20-Year Perspective for Bulbs and Cut Flowers by Product Segment - Percentage Breakdown of Dollar Sales for Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers for the Years 1991, 1996, 2006 and 2010 (includes corresponding Graph/Chart) III-25

3b. Germany III-26

A. Market Analysis III-26
Current and Future Analysis III-26
Historic Review III-26
German Market Overview III-26
Consumer Preferences III-27
Occasional Purchases III-27
B. Market Analytics III-27
Table 46: German Recent Past, Current & Future Analysis for Bulbs and Cut Flowers by Product Segment - Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) III-27
Table 47: German Historic Review for Bulbs and Cut Flowers by Product Segment - Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) III-28
Table 48: German 20-Year Perspective for Bulbs and Cut Flowers by Product Segment - Percentage Breakdown of Dollar Sales for Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers for the Years 1991, 1996, 2006 and 2010 (includes corresponding Graph/Chart) III-28

3c. The United Kingdom III-29

A. Market Analysis III-29
Current and Future Analysis III-29
Historic Review III-29
Market Structure III-29
Market Trends III-30
Not Just Occasional Buy III-30
Cut Flowers - Style Icons III-30
Festive Demand III-30
Elderly Consumers III-30
Supermarkets Dominance III-30
Key British Players III-31
Bulbs4u III-31
Gee Tee Bulb Co. III-31
Lingarden Limited III-31
Winchester Growers Limited III-32
World Flowers III-32
Zwetsloots Ltd III-32
B. Market Analytics III-33
Table 49: UK Recent Past, Current & Future Analysis for Bulbs and Cut Flowers by Product Segment - Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) III-33
Table 50: UK Historic Review for Bulbs and Cut Flowers by Product Segment - Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) III-33
Table 51: UK 20-Year Perspective for Bulbs and Cut Flowers by Product Segment - Percentage Breakdown of Dollar Sales for Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Markets for the Years 1991, 1996, 2006 and 2010 (includes corresponding Graph/Chart) III-34

3d. The Netherlands III-35

A. Market Analysis III-35
Current and Future Analysis III-35
Historic Review III-35
Market Overview III-35
Channels of Distribution III-36
Flower Auctions III-36
Environmental Issues III-36
Market Trends III-37
Tulips to Tempt the Consumers III-37
Wilting Cut Flower Industry III-37
Competition Further Intensifies III-37
Shifting the Base III-37
Economic Recovery Boosts Sales III-37
Burgeoning Demand for Organic Flowers III-37
Strategic Corporate Developments III-38
Key Dutch Players III-38
Florimex International III-38
Netherland Bulb Co., Inc III-38
B. Market Analytics III-39
Table 52: Dutch Recent Past, Current & Future Analysis for Bulbs and Cut Flowers by Product Segment - Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) III-39
Table 53: Dutch Historic Review for Bulbs and Cut Flowers by Product Segment - Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) III-39
Table 54: Dutch 20-Year Perspective for Bulbs and Cut Flowers by Product Segment - Percentage Breakdown of Dollar Sales for Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Bulbs & Other Cut Flowers for the Years 1991, 1996, 2006 and 2010 (includes corresponding Graph/Chart) III-40

3e. Italy III-41

A. Market Analysis III-41
Current and Future Analysis III-41
Historic Review III-41
B. Market Analytics III-42
Table 55: Italian Recent Past, Current & Future Analysis for Bulbs and Cut Flowers by Product Segment - Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) III-42
Table 56: Italian Historic Review for Bulbs and Cut Flowers by Product Segment - Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) III-42
Table 57: Italian 20-Year Perspective for Bulbs and Cut Flowers by Product Segment - Percentage Breakdown of Dollar Sales for Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers for the Years 1991, 1996, 2006 and 2010 (includes corresponding Graph/Chart) III-43

3f. Spain III-44

A. Market Analysis III-44
Current and Future Analysis III-44
Historic Review III-44
B. Market Analytics III-45
Table 58: Spanish Recent Past, Current & Future Analysis for Bulbs and Cut Flowers by Product Segment - Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) III-45
Table 59: Spanish Historic Review for Bulbs and Cut Flowers by Product Segment - Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) III-45
Table 60: Spanish 20-Year Perspective for Bulbs and Cut Flowers by Product Segment - Percentage Breakdown of Dollar Sales for Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Bulbs & Other Cut Flowers for the Years 1991, 1996, 2006 and 2010 (includes corresponding Graph/Chart) III-46

3g. Rest of Europe III-47

A. Market Analysis III-47
Current and Future Analysis III-47
Historic Review III-47
B. Market Analytics III-48
Table 61: Rest of Europe Recent Past, Current & Future Analysis for Bulbs and Cut Flowers by Product Segment - Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) III-48
Table 62: Rest of Europe Historic Review for Bulbs and Cut Flowers by Product Segments - Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) III-48
Table 63: Rest of Europe 20-Year Perspective for Bulbs and Cut Flowers by Product Segment - Percentage Breakdown of Dollar Sales for Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers for the Years 1991, 1996, 2006 and 2010 (includes corresponding Graph/Chart) III-49

4. China III-50

A. Market Analysis III-50
Current and Future Analysis III-50
Historic Review III-50
An Overview of Chinese Market III-50
Imports and Exports of Cut Flowers III-50
Market Trends III-51
Robust Growth of Cut Flowers Market III-51
Search for Potential Markets III-51
Revolutionary Changes in Preferences III-51
Changing Market Face III-51
Growth Restrainers III-52
Market Developments III-52
Strategic Corporate Developments III-52
Focus on Select Chinese Players III-53
Beijing Fengtai Haxiang Baipenyao United Company III-53
Beijing Green Field Flowers III-53
Bojie Local Products Company Ltd III-53
China TRD Company Ltd III-53
Euro-Asia Agricultural (Holdings) Company Ltd III-53
Jiaoda Agricultural Science (Xinqiao) Horticultural Garden III-53
Kunming Yunlan Flower Company III-53
Mainland Mart.Com III-54
Olive Modern Agriculture Development Company Ltd III-54
Shanghai Meilong Yu' s Flower Nursery Company Ltd III-54
Shanghai Metropolis Flowers' Harbor Company Ltd III-54
Ye Fan Flower Store III-55
Yunnan Sanduo Flower Company III-55
B. Market Analytics III-55
Table 64: Chinese Recent Past, Current & Future Analysis for Bulbs and Cut Flowers by Product Segment - Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) III-55
Table 65: Chinese Historic Review for Bulbs and Cut Flowers by Product Segment - Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) III-56
Table 66: Chinese 20-Year Perspective for Bulbs and Cut Flowers by Product Segment - Percentage Breakdown of Dollar Sales for Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers for the Years 1991, 1996, 2006 and 2010 (includes corresponding Graph/Chart) III-56

5. Rest of World III-57

A. Market Analysis III-57
Current and Future Analysis III-57
Historic Review III-57
A Peek into Select Markets III-57
Australian Market Overview III-57
Imports and Exports III-58
Opportunities III-58
Challenges Ahead III-58
Favorable Conditions III-58
An Overview of Canadian Market III-59
Channels of Distribution III-59
Imports and Exports III-59
Colombian Market - An Overview III-60
Industry Characteristics III-60
Flower Trade Association III-60
Effectual Means of Transportation III-60
Growers Looking for New Markets III-60
An Overview of Ecuadorian Market III-61
Indian Market Overview III-61
Favorable Conditions III-61
Lack of Quality Products III-61
Flower Market to Go International III-62
Initiatives Taken for Market Development III-62
Role of Government III-62
Market Overview of Kenya III-62
Cut Flowers Exports III-63
Premium Quality Values III-63
Prices Decline III-63
Regulatory Procedures III-63
B. Market Analytics III-64
Table 67: Rest of World Recent Past, Current & Future Analysis for Bulbs and Cut Flowers by Product Segment - Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Independently Analyzed by Annual Sales in US$ Million for the Years 2001 through 2010 (includes corresponding Graph/Chart) III-64
Table 68: Rest of World Historic Review for Bulbs and Cut Flowers by Product Segment - Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers Independently Analyzed by Annual Sales in US$ Million for the Years 1991 through 2000 (includes corresponding Graph/Chart) III-64
Table 69: Rest of the World 20-Year Perspective for Bulbs and Cut Flowers by Product Segment - Percentage Breakdown of Dollar Sales for Roses, Lilies, Gladioli, Tulips, Potted Chrysanthemums, Orchids, Standard Carnations and Other Bulbs & Cut Flowers for the Years 1991, 1996, 2006 and 2010 (includes corresponding Graph/Chart) III-65

IV. COMPETITION

1. 1-800-Flowers.Com, Inc. (USA) III-1
Table 70: Nine Months Sales Analysis: 2005-2006 (Nine Months Ended, March) (In US$ million) III-1
Table 71: Nine Months Sales Analysis by Segment: 2005-2006 (Nine Months Ended, March) (In US$ million) III-2
Table 72: Annual Sales Analysis: 2004-2005 (In US$ million) III-2
Table 73: Annual Sales Analysis by Quarter: 2004-2005 (In US$ million) III-2
Table 74: Annual Sales Analysis by Segment: 2004-2005 (In US$ million) III-2
2. Adelaide Orchids (Indonesia) III-3
3. Adelman Peony Gardens (USA) III-4
4. AGRO Brno-Turany, A.S. (Czech Republic) III-5
5. Air Orchids Company (Thailand) III-5
6. Aldershot Greenhouses Ltd. (Canada) III-6
7. Alice Florist (Taiwan) III-7
8. All Seasons Flowers LLC (USA) III-9
9. Ameri-Cal Floral (USA) III-10
10. Apko Nurseries Limited (Canada) III-11
11. Ausflora Pacific Pty., Ltd. (Australia) III-12
12. AVO Anthurium Vogels BV (The Netherlands) III-12
13. B&H Flowers, Inc. (USA) III-13
14. Baisch And Skinner, Inc. (USA) III-13
15. Beijing Fengtai Haxiang Baipenyao United Company (China) III-13
16. Beijing Green Field Flowers (China) III-14
17. Bircan Tarim Turizm Ticaret Ithalat Ihracat Ve Sanayi Ltd. STI. (Turkey) III-14
18. Bjorsby Handelstradgard AB (Sweden) III-15
19. Black River Produce (USA) III-15
20. Bloemexim Sp. z.o.o. (Poland) III-16
21. Bojie Local Products Company, Ltd. (China) III-16
22. Brand Flowers, Inc. (USA) III-17
23. Bulbs4U (UK) III-19
24. California Pajarosa Floral (USA) III-20
25. Camflor, Inc. (USA) III-20
26. Carvalhais & Ferreira LDA (Portugal) III-21
27. Challet Herault (France) III-22
28. Charlotte' s Garden (USA) III-22
29. China TRD Company Ltd. (China) III-22
30. CitiFloral Inc., A Little Shop Of Flowers (USA) III-23
31. Creekside Flower Gardens (Canada) III-26
32. Darvonda Nurseries Limited (Canada) III-26
33. Decor Foliage (Pvt) Ltd. (Sri Lanka) III-27
34. Delphiniumkwekerij v.o.f. L. Westhoff & Zn. (The Nether lands) III-27
35. Dinihanian Floral Products, Inc. (USA) III-28
36. Dole Food Company, Inc. (USA) III-29
37. Dos Gringos (USA) III-33
38. Dos Osos Multifloro (USA) III-34
39. Dramm & Echter, Inc. (USA) III-34
40. Duferflower Srl (Italy) III-35
41. Ecovida & Campo Ltda C.I (USA) III-36
42. Ernst Benary Samenzucht GmbH (Germany) III-36
43. Esmeralda Farms, Inc. (USA) III-37
44. Eufloria Flowers (USA) III-38
45. Euro-Asia Agricultural (Holdings) Co. (Hong Kong) III-39
46. Ever-Bloom, Inc. (USA) III-39
47. Exotica Sal (Lebanon) III-40
48. Fable Farms Ltd. (Canada) III-41
49. Farmhouse Flowers & Plants (USA) III-42
50. Flamingo Holdings (UK) III-42
51. Florabundance, Inc. (USA) III-43
52. Floraco Pty., Ltd. (Australia) III-44
53. Flores de Funza SA C.I. (USA) III-46
54. Florimex International BV (The Netherlands) III-47
Florimex Germany GmbH & Co., KG. (Germany) III-47
Florimex Japan Ltd. (Japan) III-48
Florimex UK Limited (UK) III-48
55. Flower Plus Limited (UK) III-49
56. FlowersBulbs.Com (USA) III-49
57. FlowerZone International Ltd. (New Zealand) III-49
58. Forest Ferns CC (South Africa) III-50
59. Fragrant Farms (USA) III-50
60. Fred C. Gloeckner & Company, Inc. (USA) III-51
61. Freesia BV (The Netherlands) III-51
62. Fresh Tulips USA LLC (USA) III-52
63. Fujian Riyi Flower Co., Ltd. (China) III-52
64. Gabilan Wholesale Flowers (USA) III-53
65. Gallup & Stribling Orchids (USA) III-53
66. Gee Tee Bulb Co. (UK) III-54
67. Golden State Bulb Growers (USA) III-55
Calla Co. (USA) III-55
68. Grandiflora Nurseries Pty., Ltd. (Australia) III-56
69. Green Valley Growers (USA) III-58
70. Grow Green Biosciences Pvt., Ltd. (India) III-59
71. Growingtulips.Com (The Netherlands) III-60
72. Herlihy Farms (USA) III-61
73. High Meadow Flower Farm (USA) III-62
74. Hilltop Greenhouses Ltd. (Canada) III-62
75. Hole' s Greenhouses And Gardens Ltd. (Canada) III-63
76. Hollandia Greenhouses Ltd. (Canada) III-63
77. Huiskulan Puutarha Oy (Finland) III-64
78. Hyperactive Farms, Inc. (USA) III-64
79. Ivy Acres, Inc. (USA) III-65
80. Jiaoda Agricultural Science (Xinqiao) Horticultural Garden (China) III-65
81. Johannes Flowers, Inc. (USA) III-66
82. Justflowers.Com (USA) III-66
83. Karuturi Floritech Ltd. (India) III-67
84. Kato Cut Flowers, Inc. (USA) III-67
85. KB Orchids International Co., Ltd. (Thailand) III-68
86. Kelley Wholesale Florist, Inc. (USA) III-69
87. Kendall Farms (USA) III-73
88. Klahanie Greenhouses Ltd. (Canada) III-74
89. Ko Kolk Hortensias Bv (The Netherlands) III-74
90. Kunming Yunlan Flower Company (China) III-75
91. Kvetozel Sro (Slovakia) III-75
92. L H Flowers Ltd. (Scotland) III-75
93. La Centrale Dia Fleurs (France) III-76
94. Langeveld Bulb Co., Inc. (USA) III-76
95. Lara Tarim Ticaret Pazarlama Ltd., Sti. (Turkey) III-77
96. Len Busch Roses, Inc. (USA) III-77
97. Lepolan Puutarha Oy (Finland) III-77
98. Les 3 Moulins (France) III-78
99. Lingarden Limited (UK) III-78
100. Magic Flowers (USA) III-79
101. Magnolia Firm (Russia) III-81
102. Mainland Mart (USA) III-81
103. Manatee Floral, Inc. (USA) III-82
104. Mellano & Company (USA) III-83
105. Mercado Rivera SL (Spain) III-84
106. Michigan Bulb Company (USA) III-84
107. Mori Nurseries Limited (Canada) III-84
108. Mother Herbs (P) Ltd. (India) III-85
109. Mt. Eden Floral Company (USA) III-86
110. Muchea Gold (Australia) III-86
111. Multifora (Spain) III-87
112. Myriad Flowers International, Inc. (USA) III-87
113. Natural Flora (India) III-88
114. Netherland Bulb Co., Inc. (The Netherlands) III-88
115. Newport Floral Connection (USA) III-89
116. Nexus Florist (India) III-89
117. Nora Farm (Egypt) III-89
118. Nupur Biotech Pvt., Ltd. (India) III-90
119. Oak Hill Farm (USA) III-90
120. Obies Floral (USA) III-91
121. Obra Verde Growers (USA) III-93
122. Ocean Breeze International (USA) III-93
123. Ocean View Flowers (USA) III-94
124. Olive Modern Agriculture Development Company Ltd. (China) III-94
125. Onos Greenhouses Ltd. (Canada) III-94
126. Orchids For You (UK) III-95
127. Organic Bouquet, Inc. (USA) III-96
128. Oriental Orchids (Canada) III-98
129. P. Kooij en Zonen BV (The Netherlands) III-98
130. Pacific Callas (USA) III-99
131. Pajaro Valley Greenhouses, Inc. (USA) III-100
132. Pajarosa Floral (USA) III-100
133. PanAmerican Seed Co. (USA) III-101
134. Parkland Wholesale Flowers (Australia) III-102
135. Parkovi doo (Croatia) III-102
136. Partaharjun Puutarha OY (Finland) III-103
137. Peony Patch (USA) III-103
138. Philippine Cut Flower Corporation (The Philippines) III-103
139. Pioneer Flower Farms Limited (Canada) III-104
140. Pittsburgh Cut Flower Company (USA) III-104
141. Plant Delights Nursery, Inc. (USA) III-105
142. Provide Commerce, Inc. - Proflowers (USA) III-105
143. Pyramid Flowers, Inc. (USA) III-105
144. Rainbow Greenhouses, Inc. (Canada) III-106
145. Ramsbotham' s Riverview Farm (USA) III-106
146. Regency Orchids (New Zealand) III-107
147. Rio Roses (USA) III-107
148. Rosa Flora Limited (Canada) III-107
149. Rose Story Farm (USA) III-108
150. Rose-A-Lea Gardens Limited (Canada) III-109
151. Roya Flowers (Spain) III-109
152. S&R Flowers (USA) III-110
153. Sadzonki Chryzantem (Poland) III-110
154. Sathuta International (Private) Limited (Sri Lanka) III-110
155. Schreiner' s Gardens (USA) III-111
156. Shanghai Meilong Yu' s Flower Nursery Company Ltd. (China) III-111
157. Shanghai Metropolis Flowers' Harbor Company Ltd. (China) III-111
158. Soex Flora (India) III-112
159. Sorby Handelstradgard AB (Sweden) III-112
160. Speaking Roses International, Inc. (USA) III-113
161. Star Valley Flowers, Inc. (USA) III-114
162. Starkl GesmbH Anton (Austria) III-114
163. Stevens And Son Wholesale Florist (USA) III-115
164. Sunshine Floral, Inc. (USA) III-117
165. Super Fresh Co., Ltd. (Thailand) III-118
166. Sutton Seeds (UK) III-118
167. Sweet Pea Gardens & Greenhouses (USA) III-118
168. T. Larry Jones, Inc. (USA) III-119
169. Taisuco Canada Agriculture Corporation (Canada) III-119
170. Tanusi Corporation (USA) III-120
171. Tayama Greenhouses, Inc. (USA) III-120
172. Teshuva Agricultural Projects Ltd. (Israel) III-120
173. The Grower' s Box LLC (USA) III-121
174. The Lily Pad (USA) III-121
175. The Sunborn Gardens (USA) III-122
176. The Sun Valley Group (USA) III-122
177. The Tulip Garden Nursery (Australia) III-123
178. Third Branch Flower LLC (USA) III-123
179. Three Toads Farm (USA) III-124
180. Topstar Floral, Inc. (USA) III-124
181. TulipWorld (USA) III-125
182. Valley Flowers, Inc. (USA) III-125
183. Valley Orchids (Australia) III-126
184. Vegia AS (Slovakia) III-126
185. VN Greenhouses Ltd. (Canada) III-127
186. VYN Flowers, Inc. (Canada) III-127
187. W. Kordes' Sohne Rosenschulen GmbH & Co., KG. (Germany) III-128
188. Westcan Greehouses Limited (Canada) III-128
189. Wildseed Farms (USA) III-129
190. Willem Van Herreweghe (Belgium) III-130
191. William Dam Seeds Ltd. (Canada) III-131
192. Winchester Growers Ltd. (UK) III-132
193. Wise Acre Farm Gourds & Gourd Creations (USA) III-133
194. Wollam Gardens (USA) III-133
195. World Flowers Ltd. (UK) III-133
196. XENIOS Dutch Growers Limited (Canada) III-134
197. Yamashita Flower Farm, Inc. (USA) III-134
198. Ye Fan Flower Store (China) III-134
199. Yuanjiang Xingyuan Service Co., Ltd. (China) III-135
200. Yunnan Sanduo Flower Company (China) III-135
201. Ziegler Garden (USA) III-135

Bulbs and Cut Flowers

Table of Contents

I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS

II. EXECUTIVE SUMMARY

1. Industry Overview II-1

2. Market Trends II-5

3. Key Market Drivers/Restraints II-8

4. Product Overview II-11

5. Packaging II-47

6. Channels of Distribution II-48

7. Product Innovations/Introductions II-49

8. Recent Industry Activity II-50

9. Focus on Select Key Players II-53

10. Global Market Perspective II-59

III. MARKET

1. The United States III-1

2. Japan III-13

3. Europe III-18

3a. France III-23

3b. Germany III-26

3c. The United Kingdom III-29

3d. The Netherlands III-35

3e. Italy III-41

3f. Spain III-44

3g. Rest of Europe III-47

4. China III-50

5. Rest of World III-57

IV. COMPETITION