Increasing expenditure on premium food products is expected to drive the growth of the global microgreens market in the forecast period, 2023-2027. According to the TechSci Research report, “Microgreen Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global microgreen market is anticipated to grow at a significant rate in the forecast period, 2023-2027.
The Important Factors of the Microgreens Market
This can be ascribed to the changing consumer behavior towards healthier food alternatives that are rich sources of vitamins, minerals, and antioxidants. Additionally, the decreasing growing incidences of soil erosion due to the widespread use of agrochemicals, overgrazing, floods, and deforestation, among others, have led to a lot of land degradation and the creation of barren lands which are not suitable for growing crops. This has created the need to grow crops, fruits & vegetables using alternative techniques, thereby boosting the growth of indoor farming techniques.
According to United Nations Convention to Combat Desertification, every year an estimated around 24 billion tonnes of fertile soil is lost due to erosion which is equivalent to about 3.4 tonnes lost every year for every person on the planet. Globally around 3.2 billion people are affected by land degradation, especially rural communities, and small farmers. The world population is expected to increase by about 35% reaching 9.74 billion in 2050. All these statistics clearly indicate the need for alternative farming techniques which can produce healthy and high-yielding crops, fruits & vegetables, etc. Majorly used alternative farming techniques used are hydroponics, aeroponics, greenhouses, etc. Microgreens are majorly grown in these alternative setups. This in turn is expected to create opportunities for the growth of the global microgreens market.
However, the high initial infrastructure development cost for setting up indoor farms, hydroponics, aeroponics setups, and greenhouses, among others can restrain market growth, especially in developing countries.
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The global microgreens market can be segmented by type, by farming technique, by growth medium, distribution channel, end-use, and by region.
Based on type, the global microgreens market can be categorized into broccoli, lettuce & chicory, arugula, basil, fennel, carrots, and others. The Broccoli segment dominated the market in 2021 and is expected to continue maintaining its dominance during the forecast period on account of numerous health benefits associated with broccoli including the ability to fight inflammation. Additionally, broccoli helps in improving digestion, cancer prevention, and improving heart health.
In terms of farming techniques, the global microgreens market can be grouped into indoor vertical farming, commercial greenhouses, and others. The indoor vertical farming segment is expected to dominate the market during the forecast period since in this technique crops, fruits & vegetables, etc. are produced under controlled conditions and the farmers can produce any variety of crop throughout the year irrespective of any season or climatic variation.
Major companies operating in the global microgreens market are:
- AeroFarms LLC
- Goodleaf Farms
- Living Earth Farm
- Farm Box Greens
- Jiangsu Skyplant Greenhouse Technology Co. Ltd
- Shanghai Dehuan Industry Co. Ltd
- Chef's Garden Inc.
- Madar Farms
- Metro Microgreens
- Greenbelt Microgreens
Major companies operating in the market are following strategies like mergers & acquisitions, the launch of new facilities, and increasing their product portfolio, among others in order to stay competitive and have an edge over the other players operating in the industry. For instance, in 2021, AeroFarms, LLC expanded its distribution of leafy greens to more than 350 stop-shop stores, globally.
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“North America dominated the market in 2021 and is expected to maintain its dominance in the coming years. This can be ascribed to the widespread adoption and use of various indoor farming techniques which are producing microgreens in the region. Additionally, various retailers in the region especially in the United States have started providing certified naturally grown microgreen seeds to local restaurants and farmers, thereby creating lucrative opportunities for market growth in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Microgreen Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Type (Broccoli, Lettuce & Chicory, Arugula, Basil, Fennel, Carrots, Others), By Farming Technique ( Indoor Vertical Farming, Commercial Greenhouses, Others), By Growth Medium (Peat Moss, Soil, Coconut Coir, Tissue Paper, Others), By Distribution Channel (Hypermarkets/Supermarkets, Online, Retail Stores, Others), By End Use (Commercial v/s Residential) and By Region”, has evaluated the future growth potential of global microgreens market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global microgreens market.
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Microgreens Market - Analysis, Share, Trends, Demand, Size, Opportunity & Forecast
Increasing expenditure on premium food products is expected to drive the growth of the global microgreens market in the forecast period, 2023-2027. According to the TechSci Research report, “Microgreen Market - Global Industry Size, Share, Trends, Opportunity,...
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