Microgreens Market : Growth Factors and Competitive Scenario till 2030|Living Earth Farm, GoodLeaf Farms, and Bowery Farming

According to a new report published by Allied Market Research, titled, "Microgreens Market by Type, Farming, Distribution Channel and End User: Global Opportunity Analysis and Industry Forecast, 2021-2028," The global microgreens market size is expected to reach $2,049.3 million by 2028 at a CAGR of 11.1% from 2021 to 2028.

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Microgreens are edible plants that are harvested in the juvenile growth stage. They have a quick crop cycle. They are ready to harvest in around 7 to 14 days, depending on the species and varieties of the microgreens. Microgreens are majorly cultivated in the indoor vertical and greenhouse farming methods as they need intense care and controlled environment. The favorable temperature for the healthy and desired growth of microgreens is 18 to 24°C and relative humidity (RH) of 40 to 60%; therefore, protected cultivation is majorly used.

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Rise in area under protected cultivation which majorly includes indoor vertical and greenhouse farming methods and increasing increase in spending on healthy, fresh, and nutritious agriculture produce are expected to garner the growth of the microgreens market. Adoption of the internet of things (IoT) in the farming and farm mechanization is promoting farmers to grow high valued crops, which directly supports to the growth of the microgreens market

Due to the COVID-19 pandemic, supply chain has been adversely affected and whole food & beverage industry is still incurring losses. Governments are frequently practicing total lockdown to limit the spread of corona virus, in which restaurants are strictly suggested to close. Restaurant is one of the major selling points of the microgreens. Temporarily, COVID-19 pandemic is restraining the growth of the global microgreens market during the forecast period.

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According to microgreens market analysis, the market is segmented on the basis of type, farming, distribution channel, end user, and region. On the basis of type, the market is categorized into broccoli, cabbage, cauliflower, arugula, peas, basil, radish, cress and others. By farming, it is segregated into indoor vertical farming, commercial greenhouses and others. According to distribution channel, it is divided into retail stores, farmers market and others. By end user, market is segmented into residential and commercial. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Russia, Spain, Italy, France, Germany, UK, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, Africa)

On the basis of type, the broccoli segment has been gaining major share in the global microgreens market and is expected to sustain its share during the forecast period. This is majorly attributed to health benefits associated broccoli microgreens such as fighting inflammation, cancer prevention, improved heart health, and improved digestion.

On the basis of distribution channel, the retail store segment is projected to grow at $986.3 million by 2028, registering a CAGR of 11.4%. Supermarket/hypermarkets and grocery stores are where people can find fresh microgreens.

On the basis of end user, the commercial segment is projected to grow at $1,408.8 million by 2028, registering a CAGR of 10.4%. Microgreens are majorly served to customers though the restaurants as people are increasingly demanding highly nutritious food. Chefs in the restaurants use microgreens as flavoring and garnishing agent, owing to its tasty flavor and crunchy texture.

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Region wise, Europe was valued at $415.5 million in 2019, and is expected to reach $596.8 million by 2028, registering a CAGR of 9.7% from 2021 to 2028. Growing start-ups who deals in production and selling of the microgreens are majorly favoring the growth of the Europe microgreens market during the forecast period. For instance, Infarm, founded in 2013, the Berlin-based startup, has developed vertical farming tech for grocery stores, restaurants, and local distribution centers to bring fresh and artisan produce much closer to the consumer is expanding to Paris.

Key findings of the study

In 2019, the microgreens market was valued at $1,276.0 million, and is estimated to reach $2,049.3 million by 2028, growing at a CAGR of 11.1% during the forecast period.
In 2019, depending on farming, the vertical farming segment was valued at $752.9 million, accounting for 59.0% of the global microgreens market share.
In 2019, depending on end user, the residential segment was valued at $350.9 million, accounting for 27.5% of the global microgreens market share.
In 2019, the U.S. was the most prominent market in North America, and is projected to reach $391.0 million by 2028, growing at a CAGR of 10.0% during the forecast period.

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The players operating in the portable air conditioner industry have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include AeroFarms, Fresh Origins, Gotham Greens, Madar Farms, 2BFresh, The Chef's Garden Inc., Farmbox Greens LLC, Living Earth Farm, GoodLeaf Farms, and Bowery Farming.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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