PUBLISHER: Allied Market Research | PRODUCT CODE: 1108548
PUBLISHER: Allied Market Research | PRODUCT CODE: 1108548
The microgreens market size was valued at $1,276.0 million in 2019, and is estimated to reach $2,198.9 million by 2028, registering a CAGR of 11.1% from 2021 to 2028.
Microgreens are young, tender vegetable greens that are approximately 1-3 inches tall. They are harvested 714 days after germination, when they have two fully developed cotyledon leaves. Often called vegetable confetti. Microgreens are basically used to enhance the color, texture, or flavor of different foods such as pasta, pizza, omelets, and salads, due to their intense aromatic flavor and variety of colors and textures. They constituent a number of vitamins, minerals, and antioxidants.
Increase in spending for premium food products, healthy functional & nutritional food and growth in adoption of indoor vertical and greenhouse farming are some of the factors majorly attributing to the growth of the microgreens market during the forecast period. Indoor vertical and greenhouse farming is majorly used for the production of microgreens as it requires intense care through controlled environment.
Furthermore, growth in cosmetics and personal care industry is likely to drive the growth of the microgreens market during the forecast period, as microgreens-based oils and ingredients are majorly demanded for the production of consumer items such as shampoo and skincare products. Rise in adoption of farm mechanization and growth in awareness regarding the high-tech farming methods including hydroponics and aquaponics are expected to favor the growth of the microgreens market.
The outbreak of the COVID-19 pandemic has negatively affected the growth of the microgreens market. Sales of microgreens have witnessed significant decrease due to disturbed supply chain and closers of restaurants and grocery stores, which are vital distributing points and end users of the microgreens.
The microgreens market is segmented on the basis of type, farming, end user, and region. On the basis of type, the market is categorized into broccoli, cabbage, cauliflower, arugula, peas, radish, basil, carrots, and others. By farming, it is segregated into indoor vertical farming, commercial greenhouses, and other. By end user, market is segmented into retail, food service, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Russia, Spain, Italy, France, Germany, the UK, and rest of Europe), Asia-Pacific (China, Japan, India, Singapore, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, Africa).
On the basis of type, the broccoli segment has been gaining major share in the global microgreens market and is expected to sustain its share during the forecast period. This is majorly attributed to health benefits associated broccoli microgreens such as fighting inflammation, cancer prevention, improved heart health, and improved digestion. Broccoli microgreens rich dark greens are a great addition to any mix due to their tangy flavor. Growth in health-conscious people and awareness regarding health benefits of the broccoli microgreens are likely to surge the growth of the global microgreens market though broccoli microgreens segment. According to microgreens market trends, depending on farming, the indoor vertical farming segment was valued at $776.0 million in 2019, and is expected to reach $1,361.1 million by 2028, with a CAGR of 11.3%.
Indoor vertical farming is cultivation of the agriculture produce in controlled environment such as in building, where crops are provided with required environment such as temperature, light, appropriate water, and growth medium. This farming method has been gaining major traction in the global microgreens market as it allows growers take production in any season and it increase the productivity of land. According to the United Nations, the world population is expected to reach 9.8 billion by 2050 and it is not possible to fulfill the food demand with conventional farming methods. Currently, agriculture production is decreasing day-by-day, owing to decreasing fertility of agriculture land and depletion of natural resources.
On the basis of end user, the food service segment is projected to grow at $1,242.8 million by 2028, registering a CAGR of 10.5%. Microgreens are majorly served to customers though the restaurants as people are increasingly demanding highly nutritious food. Chefs in the restaurants use microgreens as flavoring and garnishing agent, owing to its tasty flavor and crunchy texture. Microgreens are used to enhance the nutritional value, flavor, and texture of the pastas, omelet, pizzas, burgers, and salads. Furthermore, owing to rich sources of mineral and vitamins, it is used in the skin care and cosmetic products.
Region wise, North America dominated the microgreens market in 2019, and is expected to sustain its dominance throughout the forecast period. U.S. has been gaining major share in North America microgreens market and is expected to sustain its share during the forecast period. Rise and evolution of wellness focused diets, which include green vegetables salad and organic-based food items is expected to attract people toward the microgreens. In the U.S., the demand for microgreens is witnessing growth at a significant rate, owing to health benefits associated with its consumption such as reduce risk of heart diseases, chronic diseases, cancer, and Alzheimer. Consumers are increasingly opting for high protein consumption, resulting in strong requirement of high protein and low carb food products.
Thus, vegetable growers are focusing on cultivation of microgreens along with vegetables and increasing area under protected cultivation. For instance, according to the FAO 2017 and Hickman 2019, the area under protected cultivation in the U.S. is 15,000 ha, which is majorly used for growing tomato, herbs, cucumber, capsicum, and strawberry. Furthermore, area under protected cultivation in Mexico is 40,862 ha. Thus, growing area under protected cultivation in North America is expected to favor the growth of the microgreens market during the forecast period.
The players operating in the global microgreens market have adopted various developmental strategies to expand their microgreens market share, increase profitability, and remain competitive in the market. 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, TruLeaf Sustainable Agriculture, and Bowery Farming.
Key Benefits For Stakeholders
By Type
By Farming
By End User
By Region