Abstract
Herbaceous peony is an ancient medicinal and ornamental crop, cultivated in China and Japan for thousands of years. Numerous varieties of different colors are popular garden plants in different continents and countries. In recent decades, peony has gained a new reputation as cut flowers. Only in Europe, in 30 years, trade in cut peony stems has increased 50 fold. Today, more than 25 countries produce cut peony flowers, with primary markets in Europe, Asia and the USA. This short review summarizes the contribution of research in plant physiology to the development of new technologies of peony production and flowering advancement. Despite the popularity of cut peonies, several factors still restrict their production: complicated flowering physiology, challenges in mass propagation, and postharvest handling. Further research of biochemical and molecular mechanisms, as well as breeding of new cultivars will promote the development of the peony industry and facilitate the creation of a Global Peony Chain for the successful marketing of this beautiful flower.