The Microgreens Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Microgreens Global Market Report 2024, The microgreens market size has grown rapidly in recent years. It will grow from $1.91 billion in 2023 to $2.14 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to increased consumer awareness, adoption of microgreens by restaurants and foodservice, rise of urban agriculture and home gardening, recognition of microgreens as nutrient-dense, healthy ingredients, increased popularity of urban farming.
The microgreens market size is expected to see rapid growth in the next few years. It will grow to $3.46 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The growth in the forecast period can be attributed to growing emphasis on sustainable farming and locally sourced products, demand for alternative protein sources, increasing demand for premium and high-quality ingredients, growing demand for sustainable and eco-friendly food products. Major trends in the forecast period include increasing investments in research and development of new microgreen varieties, growing popularity of microgreens in the food service and cosmetic industries, increasing focus on product innovation, unique microgreen varieties, eco-friendly packaging.
Increasing indoor and vertical farming adoption is expected to drive the microgreens market. 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. In the following five years, that figure is anticipated to be nearly tenfold to 2 million sq m (or 22 million sq feet). Therefore, the Increase in indoor and vertical farming adoption would propel the microgreens market’s growth.
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The microgreens market covered in this report 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
Technological advancement is a key trend in the microgreens market. 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. The platform’s development depended on an analysis of the variables influencing the growth and nutritional value of micro-greens like basil, coriander, and parsley, as well as their relationships to environmental and cultivational requirements. These elements will guide the process of choosing a collection of different sensors. Future applications of these techniques include large-scale traditional agriculture and other growing environments.
The microgreens market report table of contents includes:
1. Executive Summary
2. Microgreens Market Characteristics
3. Microgreens Market Trends And Strategies
4. Microgreens Market – Macro Economic Scenario
5. Global Microgreens Market Size and Growth
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26. South America Microgreens Market
27. Brazil Microgreens Market
28. Middle East Microgreens Market
29. Africa Microgreens Market
30. Microgreens Market Competitive Landscape And Company Profiles
Top Major Players:
- AeroFarms LLC
- Goodleaf Farms
- Living Earth Farm
- Fresh Origins
- Gotham Greens
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