Microgreens Market to Reach $5.05 Billion by 2030, Growing at 14.02% CAGR

InsightAce Analytics Pvt. Ltd. announces the release of a market assessment report on the "Global Microgreens Market (By Type (Broccoli, Cabbage, Cauliflower, Arugula, Peas, Basil, Radish, Cress, Others), by Farming (Indoor vertical farming, Commercial greenhouse, Others), by End User (Retail, Food Service, Others):)- Market Outlook and Industry Analysis 2030"

The global microgreens market is estimated to reach over USD 5.05 billion by 2030, exhibiting a CAGR of 14.02% during the forecast period.

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Microgreens are salad vegetable shoots harvested immediately after the first leaves appear. Microgreens often have one pair of very small, partially developed true leaves and fully developed cotyledon leaves. Microgreens are grown in various ways, including vertical farming, indoor farming, and even commercial greenhouses. Chefs drive the microgreens business by using them as flavor enhancers and colorful garnishes on their meals, but there is another specialized industry driving new growth inside this segment: cosmetics. These microgreens are processed into oils and components for consumer products such as shampoo and cosmetics. Microgreens are high in vitamins A and B and many other micro-elements, making them an appealing ingredient for personal care products. People's increasing health consciousness has led to a nutrient-dense diet, which has resulted in the adoption of indoor farming technologies.

Consumers not only engage in indoor farming at home, but it is also widely practised in massive greenhouses. As a result, the market for microgreens is expected to expand in the coming years. With customers worldwide shifting toward healthier diets, microgreens production is expected to rise in the coming years. The increasing adoption of protected cultivation has resulted in moderate market growth.

List of Prominent Players in the Microgreens Market:
AeroFarms
Fresh Origins
Gotham Greens
Madar Farms
2BFresh
The Chef's Garden Inc
Farmbox Greens LLC
Living Earth Farm
Bowery Farming
Teshuva Agricultural Projects Ltd

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Market Dynamics:
Drivers-
Increased expenditure on premium food products, as well as growing consumer knowledge of the health benefits of microgreens, have all contributed to the microgreen market's expansion. The increasing number of restaurants and food specialty shops offering clients a complete experience by introducing them to various sorts of food and beverages contributes to market growth. Microgreens' output will likely increase in the coming years as customers globally gravitate toward healthier diets. Protected cultivation is becoming more popular, resulting in moderate market growth. The development of greenhouse technology is growing the market for microgreens. As a result, revenue has stabilized with increased demand, which has benefited market expansion.

Challenges:
The major factors inhibiting the growth of the microgreen market are high initial investments, high production costs, and a lack of distribution channels. Aside from that, soil nutrient deficits and a lack of knowledge about microgreens threaten the industry. Furthermore, unorganized market management, increased demand for non-GMO microgreens, and a trained labor scarcity constrain the microgreens market's growth.

Regional Trends:
The North American microgreens market is expected to hold a major market share. Growers in the United States have been able to produce microgreens on a big scale because of improved indoor and vertical gardening technologies. Furthermore, hydroponic farming is the most profitable for Californian farmers. As a result, crops most suited for this farming practice are grown, such as broccoli, lettuce, and salad vegetables. Besides, Asia Pacific had a significant share in the microgreens market. Microgreens are nutritious and easy to grow, and they may be produced in small yards or gardens at home. This is especially true in emerging countries like India and China, where living and yard space is at a premium.

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Recent Developments:
• In 2021- AeroFarms, a pioneer in indoor vertical farming, increased the distribution of leafy greens to more than 350 Stop & Shop locations in the Northeast and New England, including those in New Jersey, New York, Connecticut, Massachusetts, and Rhode Island.
• In 2020- Precision Indoor Plants and Aerofarms joined together for the Lettuce Project. This initiative extends the shelf life of lettuce using cutting-edge indoor agricultural science and technology, providing consumers with more marketable food, reducing waste, and increasing farmer earnings.

Segmentation of Microgreens Market-
By Type
• Brocoli
• Cabbage
• Cauliflower
• Arugula
• Peas
• Basil
• Radish
• Cress
• Others
By Farming
• Indoor Vertical Farming
• Commerical greenhouse
• Others
By End User
• Retail
• Food Service
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.