Microgreens Market to Reach US$ 2,470 Million by 2028 | CAGR of 8.3%

Industry Overview:

Microgreens are seedlings and shoots of vegetables that are picked just after the first leaves have developed. They are primarily grown by utilizing indoor vertical and greenhouse farming methods since they require a lot of attention and a regulated environment. They contain several vitamins, minerals, and antioxidants that aid in preventing chronic medical ailments, managing weight, enhancing immunity, and promoting mental well-being. Additionally, they are widely used to improve the color, flavor, aroma, and texture of numerous food items, including pasta, pizza, salads, and omelets. Some of the common types of microgreens are broccoli, cabbage, carrots, onion, quinoa, cauliflower, cucumber, arugula, peas, basil, radish, and cress.

The global microgreens market size reached US$ 1,522 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,470 Million by 2028, exhibiting a growth rate (CAGR) of 8.3% during 2023-2028.

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Competitive Landscape with Key Players:

The competitive landscape of the industry has also been examined along with the profiles of the key players being:

• 2BFresh (Teshuva Agricultural Projects Ltd.)
• AeroFarms
• Bowery Farming Inc.
• Farmbox Greens LLC (Charlie's Produce)
• Fresh Origins, GoodLeaf Farms (TruLeaf)
• Gotham Greens
• Living Earth Farm
• Madar Farms
• Metro Microgreens
• The Chef's Garden Inc.

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Industry Growth:

The growing adoption of indoor farming techniques is driving the global market. Along with this, the rising utilization of farm mechanization and growing awareness regarding high-tech farming methods such as aeroponics, hydroponics, and aquaponics to enhance the yield and quality of value-rich crops are further contributing to the market. Apart from this, the widespread adoption of microgreens-based ingredients by the cosmetics and personal care industry to produce a skincare range is acting as another growth-inducing factor. Furthermore, the extensive adoption of microgreens in restaurants for adding flavors to salads, soups, and pizzas due to their sweet-scented smell is fostering the demand worldwide.

Industry Trends:

The increasing spending on premium food products and the growing consumer awareness regarding their health benefits are propelling the microgreens market. Additionally, numerous leading players are focussing on increasing the productivity and yield of crops while conserving the use of additional resources, such as fertilizer, energy, moisture, and space, thereby creating a positive market outlook. Besides, the rising utilization of protected cultivation and increasing financial and technical support from the governments to farmers for the protected plants are impacting the market favorably. Other factors, such as extensive research and development (R&D) activities, emerging e-commerce sectors, and inflating disposable income levels of the masses, are also influencing the market.

Key Segmentation:

Breakup by Type:

• Broccoli
• Cabbage
• Cauliflower
• Arugula
• Peas
• Basil
• Radish
• Others

Breakup by Farming Method:

• Indoor Vertical Farming
• Commercial Greenhouses
• Others

Breakup by End-Use:

• Residential
• Commercial

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets
• Retail Stores
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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This release was published on openPR.