ECONOMIC FEASIBILITY OF ENVIRONMENTAL INNOVATIONS IN THE FLOWER INDUSTRY

Abstract

Global environmental challenges have influenced the floriculture industry in the direction of increasing investments in environmental innovations. The purpose of the article was to substantiate the economic feasibility of implementing environmental innovations in the floriculture industry by analyzing the market, production and financial benefits of switching to environmental innovations. The research methodology is based on a statistical analysis of the main indicators of floriculture development on a global scale and an analysis of the market, production and financial benefits of switching to environmental innovations. Results. The article proposes a new approach to environmental innovations in the floriculture industry as a tool for long-term investments in business development in the context of strengthening legislative requirements for recycling, increasing consumer awareness of environmental challenges and increasing consumption of products, willing to pay more for "sustainable" products. The main market and production trends in floriculture in the world are identified, including the growth of global production volumes, the growth of the selling price of flowers and the prices of means of production. It was determined that producers in the flower industry recognize their own responsibility for implementing sustainable practices to increase the production of environmentally friendly packaging. In turn, consumers will transfer responsibility for sustainable production to the enterprise in the field of packaging production and at the same time are willing to pay more for environmentally friendly products. International experience of companies demonstrates the transition to biopackaging of flower products, the establishment of a closed supply cycle, and the reuse of packaging. rarely leads to an increase in the cost of living with such, revenue volumes shift in the long term. Conclusions. Further research should focus on the studied strategies of small businesses for the transition to environmentally friendly packaging and the implementation of the principles of closed production in floriculture. The scientific value of the study arises in substantiating the economic feasibility of implementing environmental innovations in the floriculture industry.