The latest report by IMARC Group, titled “Microgreens Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global microgreens market reached a value of US$
1,522 Million in 2022. Microgreens refer to small, young, and tender seedlings of edible vegetables, herbs, and grains grown locally at home or in small commercial facilities. Some common microgreens include broccoli, garlic, cucumber, lettuce, basil, beet, amaranth, quinoa, dill, and pak choi. They are generally harvested 7-14 days after germination. They have a strong aromatic flavor and are rich in anti-inflammatory properties and essential nutrients, such as antioxidants, protein, vitamins, minerals, and fiber. They also assist in preventing chronic medical ailments, managing weight, strengthening the immune system, and promoting mental well-being. As a result, microgreens are widely used as flavor enhancements and colorful garnishes in various dishes, including pasta, pizza, salads, and omelets, to improve their color, taste, and texture.
Global Microgreens Market Trends:
The rising popularity of innovative indoor and vertical farming practices represents the primary factor driving the market growth. In addition, with the growing health consciousness, consumers are shifting toward healthy diets and premium, functional and nutrient-rich food products. Along with this, the surging awareness regarding the health benefits of microgreens, such as minimizing the risks of developing cancer, cardiovascular disorders, diabetes, and high blood pressure, has augmented the product demand. Furthermore, various high-tech farming methods, such as hydroponics, aeroponics, and aquaponics, are rapidly gaining traction among individuals to enhance the yield and quality of value-rich crops and reduce the use of additional resources, including nutrients, water, energy, and space. In line with this, several supportive initiatives taken by governments of various countries to promote sustainable agricultural practices have propelled the market growth. Besides this, the increasing usage of microgreens-based oils and ingredients in cosmetics and personal care products, such as shampoos and skincare items, is positively influencing the market growth. Other factors, including the expanding food and beverage industry, rising adoption of farm mechanization, inflating consumer expenditure capacities, and product innovations, are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$
2,470 Million by 2028, growing at a CAGR of 8.3% during 2023-2028.
- Based on the type, the market has been classified into broccoli, cabbage, cauliflower, arugula, peas, basil, radish, and others.
- On the basis of the farming method, the market has been divided into indoor vertical farming, commercial greenhouses, and others.
- The market has been bifurcated based on the end use into residential and commercial.
- Based on the distribution channel, the market has been categorized into supermarkets and hypermarkets, retail stores, and others.
- Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being 2BFresh (Teshuva Agricultural Projects Ltd.), AeroFarms LLC, Bowery Farming Inc., Farmbox Greens LLC (Charlie’s Produce), Fresh Origins, GoodLeaf Farms (TruLeaf), Gotham Greens Holdings, LLC, Living Earth Farm, Madar Farms, Metro Microgreens, and The Chef’s Garden Inc.
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