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Cultivating Growth: Global Microgreens Market Projected to Reach $3.04 Billion by 2027 with an Impressive 11.8% CAGR || AeroFarms LLC, Goodleaf Farms, Living Earth Farm
Microgreens Market
The Business Research Company's Microgreens Global Market Report 2023 identifies the increasing indoor and vertical farming adoption is the major driver for the microgreens market's growth in the forecast period. Vertical farming indoors is the process of growing foods stacked one above the other in a controlled, enclosed environment. Compared to conventional farming techniques, vertically installed growing shelves considerably minimize the quantity of land needed to cultivate plants. Due to its capacity to flourish in constrained spaces, this cultivation style is frequently connected with cities and urban farming. The benefits of indoor vertical farming range from sustainable urban growth to crop production maximization, with lower labor expenses. Microgreens are widely grown using vertical farming indoors because they do not consume much space. For instance, in 2021, according to Bayer, a multinational company with primary expertise in the life science industries of agriculture and healthcare, globally, there are 204,387 sq m (or 2.2 million sq ft) indoor farms in operation in 2022.
The global microgreens market size grew from $1.71 billion in 2022 to $1.94 billion in 2023 at a compound annual growth rate (CAGR) of 13.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of global microgreens is expected to grow to $3.04 billion in 2027 at a CAGR of 11.8%.
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Major competitors in the microgreens market are AeroFarms LLC, Goodleaf Farms, Living Earth Farm, Fresh Origins, Gotham Greens, Madar Farms, Teshuva Agricultural Projects Ltd., The Chef's Garden Inc.
A key trend in the microgreens market includes technological advancement. Artificial intelligence is used in microgreens production to improve the quality of production. Microgreens in capsules are grown properly under the supervision of artificial intelligence-powered systems. It keeps track of their development through a chip within the growing cabinet, alerts in case of any problems, and advises when it's best to harvest the herbs. In February 2021, GOhydro, an Attiki-based smart-sensing ICT platform that keeps track of the nutrient content and health of hydroponically grown microgreens, developed a smart-sensing, AI-driven hydroponic platform for home settings.
Read More On The Global Microgreens Market Report Here: https://www.thebusinessresearchcompany.com/report/microgreens-global-market-report
The microgreens market is segmented -
1) By Type: Broccoli, Cabbage, Cauliflower, Arugula, Peas, Basil, Radish, Cress, Other Types
2) By Category: Organic, Conventional
3) By Farming Method: Indoor Vertical Farming, Commercial Greenhouse, Other Farming
4) By End User: Retail, Food Service, Other End-users
5) By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the microgreens market.
The Business Research Company's "Global Microgreens Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Microgreens Market Include:
1. Executive Summary
2. Microgreens Market Characteristic
3. Microgreens Market Trends And Strategies
4. Microgreens Market - Macro Economic Scenario
5. Microgreens Market Size And Growth
……………
27. Microgreens Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Microgreens Market
29. Microgreens Market Future Outlook And Potential Analysis
30. Appendix
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