Market Research Report
Global Microgreens Market - 2020-2027
|Published by||DataM Intelligence||Product code||959523|
Delivery time: 1-2 business days
|Global Microgreens Market - 2020-2027|
|Published: September 8, 2020||Content info:||
Microgreens are small green veggies that are essentially the first true leaves of edible vegetables and herbs. The seedlings that have formed roots, stem, cotyledons and true leaves are harvested for consumption. These are typically 1 to 3 inch tall and are grown from vegetable and herb seeds only in a week after germination. This farm produce evolved as the new form of superfood and is gaining consumer preference across the globe owing to their nutritional benefits. Broccoli, Basil, Amaranth and Pac Choi are some of the most widely grown microgreens in the world. Microgreens are considered as a full load of vitamins and minerals and are used by food service professionals in wide range of culinary applications. Also, the intense flavor profile and texture of microgreens made it a preferred choice of chefs and bartenders as toppings in recipes. The global microgreens market valued USD XX million in 2019 and is estimated to reach USD XX million by 2027, growing at a CAGR of 8%
COVID-19 pandemic is a blow to the agriculture and food supply. With closure of restaurants, catering and hospitality in most parts of the world, foodservice industry has fallen abruptly in size than it used to be. As sales to the foodservice sector represent over 80% of the global sales revenue, the business for microgreens dipped significantly. However, the market is likely to find its impressive growth trajectory upon the ease of lockdown restrictions in Asia Pacific and North America regions
The rising demand from restaurants and food service sectors owing to the nutritional, flavor and aesthetic features of microgreens is the primary factor driving the growth of global microgreens market globally. Vertical farming is another largest growth promoter of the market. With increasing demand for fresh and organic farm produce in urban locations, several entrepreneurs has been turning towards microgreen production. The market has been witnessing large number of hydroponic and aeroponic farm establishments that are dedicated for growing microgreens. Most of these indoor farms are marketing their produce through direct-to-consumer and subscription based online sales and are gaining high profit margins. The rising number of housing communities, income levels of population and growth of corporate food service sector is boosting the sales of these farms.
However, the lack of farming awareness, high initial cost for setting plant growing environment, high risk of pest and diseases are some of the factors hindering market growth.
Food and beverages is the largest end use sector for microgreens accounting for over 80% of the total dollar sales in 2019. Microgreens are added to garnish wide array of dishes ranging from soups, pizzas, pasta, omelets, sushi, wraps and meat products. These nutritional bunches not just serve as toppings but also add flavor and color to the dish. Cosmetics and personal care is another booming end use application area for microgreens. As microgreens are rich in vitamins, minerals including potassium, zinc, copper and magnesium, and also acts as a source of antioxidants. These properties resulted in the demand from cosmetics industry. Microgreens are processed into oils and powdered extracts to use as active ingredients in skincare and haircare product formulations. Facial care is one of the key use cases of microgreen oils in the personal care spectrum. The rising trend of organic beauty concept in Asia Pacific region will support the growth of microgreens in cosmetics industry
By geography, North America is leading the microgreens market with a market share of nearly 50% in terms of dollar sales in 2019. The large scale microgreens farming in the U.S. and consumption in restaurants is supporting the market in this this region. Many farms has been set up in the country to grow microgreens.
Microgreen consumption is largely bounded to the food service industry and is witnessing limited penetration in the household applications. Farms such as AeroFarms, Greenbelt Microgreens, Fresh Origins and Florida MicroGreens are leading in the market. In developing countries across Asia Pacific region, microgreens are likely to gain consumption from gated communities and sections of high income population, thus promoting market growth