Microgreens Market Size is estimated to reach USD 2,049.3 Million By 2028 With a CAGR of 11.1% – Valuates Reports
BANGALORE, India, June 25, 2021 /PRNewswire/ — Microgreens Market by Type (Broccoli, Cabbage, Cauliflower, Arugula, Peas, Basil, Radish, Cress and Others), Farming (Indoor Vertical Farming, Commercial Greenhouses and Others) Distribution Channel (Retail Stores, Farmers Market and Others) and End User (Residential and Commercial). This report is published on Valuates Reports in the Agriculture & Forestry Category.
The Microgreens Market size was valued at USD 1,276.0 million in 2019 and is estimated to reach USD 2,049.3 million by 2028, registering a CAGR of 11.1% from 2021 to 2028.
Major factors driving the growth of the microgreens market are:
- Increased expenditure on premium food products, healthy functional and nutritional foods.
- Increased adoption of indoor vertical and greenhouse farming are some of the factors propelling the microgreens market forward throughout the forecast period.
- Growth in the cosmetics and personal care industry is expected to boost the microgreens market, as microgreens-based oils and ingredients are in high demand for the manufacturing of consumer goods such as shampoo and skincare products.
- Microgreens market expansion is likely to be aided by increased use of farm mechanization and increased awareness of high-tech farming methods such as hydroponics, aeroponics, and aquaponics.
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TRENDS INFLUENCING THE GROWTH OF MICROGREENS
Microgreens are gaining popularity among health-conscious individuals because they contain a high concentration of vitamins and antioxidants, which assist to lower the risk of cardiovascular and chronic diseases. Furthermore, microgreens require fewer resources to cultivate at home for daily consumption, therefore they can simply be produced in the garden or on the roof. Thus health benefits along with easy cultivation are expected to drive the growth of the microgreens market.
The increasing use of microgreens in the cosmetics industry is expected to increase the growth of the microgreens market. Microgreens are quickly becoming popular as active components in a variety of skincare products. Microgreens have become a proactive element of excellent skin care regimes because they include a variety of vital nutrients that are beneficial to skin health. As a result, microgreens are an effective and acceptable skincare ingredient.
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MICROGREENS MARKET SHARE ANALYSIS
Based on type, the arugula segment was valued at USD 201.8 million in 2019 and is projected to reach USD 281.7 million by 2028, registering a CAGR of 9.4% from 2021 to 2028. This market share is attributed to its popularity among chefs and customers. It contains a lot of vitamins and minerals and chefs commonly use it as a flavoring and garnishing agent in restaurants.
Based on farming the commercial greenhouse segment is estimated to reach USD 625.1 million by 2028, at a CAGR of 10.1%. During the forecast period, the worldwide microgreens industry is expected to develop due to the increasing area under greenhouse farming and the growing acceptance of greenhouse farming for the production of high-value crops such as microgreens. Microgreens require a precise temperature and humidity for proper growth; thus, greenhouse farming is an ideal approach for growing microgreens.
Based on region, Europe was valued at USD 415.5 million in 2019 and is expected to reach USD 596.8 million by 2028, registering a CAGR of 9.7% from 2021 to 2028. Growing start-ups that deal in the manufacturing and sale of microgreens are heavily favoring the growth of the European microgreens market.
On the other hand, the North American region held the major share of 41.2% in 2019.
On the basis of end-user, the commercial segment is projected to grow at USD 1,408.8 million by 2028, registering a CAGR of 10.4%.
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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.
KEY MARKET SEGMENTS
- By Type
- By Farming
- Indoor Vertical Farming
- Commercial Greenhouses
- By Distribution Channel
- Retail Stores
- Farmers Market
- By End User
- By Region
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
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SIMILAR REPORTS :
– IQF Vegetable Market by Product-Type: Beans, Peas, Corn and Baby Corn, Broccoli and Cauliflower, Potato, Onion, Tomato, Carrot, Application: Food, Beverages, Concentrate, Region: United States, China, European Union, Rest of World (Japan, Korea, India and Southeast Asia).
– The Global Fruits and Vegetables Greenhouse Farming Market report focuses on the global Fruits and Vegetables Greenhouse Farming status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Fruits and Vegetables Greenhouse Farming development in North America, Europe, China, Japan, Southeast Asia, India and Central & South America.
– The global Precision Farming market size is projected to reach USD 9284.1 million by 2027, from USD 4415.8 million in 2020, at a CAGR of 10.7% during 2021-2027.
– The global vertical farming market size was valued at USD 2.23 billion in 2018, and is projected to reach USD 12.77 billion by 2026, growing at a CAGR of 24.6% from 2019 to 2026. During import and export, vital nutrients in fruits and vegetables are significantly diminished. Furthermore, insecticides and fungicides are applied on the bulk of conventionally cultivated vegetables. As the global focus on health consciousness has increased, consumer demand for pesticide-free food products has risen dramatically, which is one of the most important factors driving demand for vertically farmed crops, which are cultivated with extreme hygiene, pesticide-free, and delivered for direct retail within hours of harvest.
– Indoor Farming Technologies Market by Product-Type: Greenhouse farming, Vertical farming, Application: Fruits & Vegetables, Herbs & Microgreens, Flowers & Ornamentals, Others. The major players in the market include Certhon, Dalsem, Harnois Greenhouses, Richel, Urban Crop Solutions, Vertical Farm Systems, etc.
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