The Microgreens Market Size is valued at 1.77 Billion in 2022 and is predicted to reach 5.82 Billion by the year 2031 at a 14.31 % CAGR during the forecast period for 2023-2031.
Microgreens are little, fragile vegetable greens that grow to a height of 1-3 inches. They are collected 7-14 days after germination and comprise two completely formed cotyledon leaves. One of the primary factor driving market expansion is the increasing adoption of novel vertical and indoor farming practices. Consumers are rapidly adopting these environmentally friendly hydroponics, aeroponics, and aquaponics technologies to increase the yield and quality of value-added crops while using fewer resources such as nutrients, water, electricity, and space. The increased health consciousness among the general public is propelling market expansion.
Furthermore, greenhouse vegetable production, especially microgreens, has been gradually expanding, and the multi-decade pattern of growth is projected to continue shortly. The development of greenhouse technology is strengthening the microgreens sector. As a result of improved demand, revenue has stabilized, aiding market expansion. The retail sector is quickly increasing, and internet stores are displacing traditional brick-and-mortar establishments.
Online retailers must boost their inventory more than ever before to keep up with the product demand. This creates a massive market for microgreens. The key obstacles inhibiting the growth of the microgreen market are high initial investments, high production costs, and a lack of distribution channels. Other factors, such as implementing favorable government regulations promoting sustainable agriculture methods and rising consumer spending power on expensive, efficient, and nutrient-rich food products, are expected to boost market growth.
Market Segmentation:
The microgreens market is segmented by type, farming and end-use. Based on type, the market is segmented into broccoli, cabbage, cauliflower, arugula, peas, basil, radish, cress, and others. Based on farming, the microgreens market is segmented into indoor vertical farming and commercial greenhouses. Based on end-use, the microgreens market is segmented into retail, food services and others.
Based On Farming, The Commercial Farming Segment Is A Major Contributor To The Microgreens Market.
The commercial greenhouse segment is expected to hold a significant market share. Commercial greenhouses are built to grow crops, vegetables, and fruits in a controlled environment, allowing farmers and businesses to produce larger yields all year round than traditional farming methods. Greenhouses rely mostly on sunlight and necessitate a horizontal arrangement of plants to ensure equal exposure to sunshine. This implies they require a lot of room and are best suited for rural or suburban settings. The greenhouse has obtained a major portion of the microgreens production market and is likely to maintain its dominant position during the forecast period.
The Broccoli Segment Witnessed Growth At A Rapid Rate.
Brocolli grabbed the highest revenue share, and it is anticipated that they will continue to hold that position during the anticipated time. Broccoli eating has several health benefits, including inflammation reduction, cancer prevention, enhanced heart health, and improved digestion. As a result, the growing popularity of broccoli microgreens' health benefits and the use of roof gardens and park gardens to grow microgreens are likely to drive up demand for microgreens of the broccoli microgreens variety.
The North American Microgreens Market Holds A Significant Revenue Share In The Region.
The North American microgreens market is expected to register the highest market share. Microgreens are in high demand from chefs in the United States as flavor enhancers and colorful garnishes on hotel and restaurant dishes, which is why organic vegetable growers are entering the microgreens market. Furthermore, because microgreens are a new and undeveloped sector, these organic vegetable growers are capitalizing on the market's minimal competition. Besides, Asia-Pacific is the fastest-growing microgreens market, and the demand for functional and healthful food items is skyrocketing. This is due to increased health-conscious consumers, increased spending on functional foods, and increased demand for organic veggies. This is also due to the rapid advancement of technology in indoor vertical farming and its rapid acceptance by vegetable and microgreens growers.
Competitive Landscape
Some major key players in the Microgreens Market:
- AeroFarms,
- Fresh Origins,
- Gotham Greens,
- Madar Farms,
- 2BFresh,
- The Chef's Garden Inc.,
- Farmbox Greens LLC,
- Living Earth Farm,
- Bowery Farming,
- Teshuva Agricultural Projects Ltd.
.
Microgreens Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 1.77 Billion |
|
Revenue Forecast In 2031 |
USD 5.82 Billion |
|
Growth Rate CAGR |
CAGR of 14.31 % from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Billion and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
Type, Farming, End-User |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
AeroFarms, Fresh Origins, Gotham Greens, Madar Farms, 2BFresh, The Chef's Garden Inc., Farmbox Greens LLC, Living Earth Farm, Bowery Farming, Teshuva Agricultural Projects Ltd. |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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