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The microgreens market size is projected to increase by USD 986.03 million with growth at a CAGR of 11.1% between 2023 and 2028
The North American microgreens market is exceptionally dynamic, with a robust growth rate attributed to factors like increasing consumer awareness of health and wellness, a rising preference for locally and sustainably sourced produce, and the growing demand for fresh, nutrient-rich foods. Comprising the US, Canada, and Mexico, this market witnesses heightened popularity due to the versatility, intense flavors, and numerous health benefits of microgreens. These trends are poised to drive the regional market's expansion during the forecast period. Notable player AeroFarms LLC contributes to this growth with offerings like micro wasabi, micro supermix, micro broccoli, and micro arugula. Such factors are expected to drive the regional market growth during the forecast period.
The Microgreens Market shows an accelerated CAGR during the forecast period.
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Microgreens Market Driver
Increasing health awareness among the public is notably driving market growth. With more and more people becoming aware of the health benefits of microgreens, it is no surprise that these are becoming more popular with not just fitness enthusiasts and health-conscious people but a whole new group of people who are actively making healthier food choices in their day-to-day lives. Because microgreens are so versatile and can be incorporated into almost any meal, these are a great choice for people who want to increase the nutritional value of their food without compromising on flavor or convenience.
In addition, as scientists continue to discover the unique health benefits of different microgreens, consumers are gaining more insight into the nutritional profiles of different varieties. Microgreens are a rich source of polyphenols, which are a type of antioxidant helping to reduce the risk of heart disease. This information helps people make informed decisions and creates a demand for a wider variety of microgreens on the market. These factors will drive the growth of the market during the forecast period.
Expansion of urban farming and local expenditure is an emerging trend shaping the market growth. One of the main reasons for the growth of urban farming in microgreens is the need to reduce the carbon impact of food production and transport. By growing microgreens on-site, the need for transportation is reduced, resulting in lower greenhouse gas (GHG) emissions. This is in line with the global trend toward sustainability and eco-friendliness, which appeals to eco-conscious consumers. At the same time, local spending has become a key driver in consumer decisions.
Moreover, consumers are attracted to microgreens that are fresh, high-quality, and traceable. Local spending not only supports regional economies but also creates a sense of connection and community among consumers and producers. These factors will propel the growth of the global microgreens market during the forecast period.
The prevalence of seasonal variability is a significant challenge hindering market growth. Since microgreens are young and delicate plants harvested at the beginning of their life cycle, their growth and quality are heavily dependent on seasonal changes in the weather. Factors such as temperature, sunlight, and humidity play an important role in microgreen growth and quality. Seasonal changes affect how microgreens are grown, their growth rate, yield, and even their flavor. For example, some microgreens thrive in cooler climates, while others thrive in warmer areas. This means it can be difficult for producers to keep a consistent and consistent supply of microgreen products year-round.
In addition, the reliance on climatic conditions increases the risk of crop diseases and pest infestations, which can further complicate production processes. The use of controlled environments, like greenhouses, to reduce these risks increases production costs, which in turn affects profitability. These factors will hinder the growth of the global microgreens market during the forecast period.
The offline segmentation in the global microgreens market includes traditional channels such as farmers markets, grocery, supermarkets, and specialty stores. These traditional channels offer consumers a direct and immediate shopping experience. Consumers can check the quality and availability of microgreens before making a purchase. Farmers markets have become a hub for microgreen enthusiasts. Local farmers and producers have a direct channel to interact with consumers. One of the biggest advantages of offline distribution is the ability to partner with microgreen retailers. The offline segment also allows microgreens to be strategically placed in high-traffic areas, increasing visibility and impulse buying. These factors will drive the growth of the offline segment and will boost the growth of the global microgreens market during the forecast period.
The market share growth by the indoor vertical farming segment will be significant during the forecast period. The two most prominent indoor vertical farming methods are hydroponics (inverse) and aeroponics (inverse). Hydroponics involves the cultivation of microgreens without the need for soil, utilizing nutrient-dense water solutions. Aeroponics, on the other hand, involves the cultivation of plants in a mist-infused environment. Both methods optimize the use of resources, increase yield, and reduce environmental impacts associated with conventional farming.
The indoor vertical farming was the largest segment and was valued at USD 547.20 million in 2018
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The indoor vertical farming segment has seen significant growth in recent years, and one of the most prominent examples of indoor vertical farming vendors is Gotham Greens, an urban agriculture company. Gotham Greens operates a hydroponic greenhouse facility in New York City and Chicago and produces a wide selection of microgreens throughout the year to meet the growing demand for locally sourced and fresh produce. Aeroponics is also gaining traction. Companies such as AeroFarms LLC are leading the way with vertical farming towers. Using a closed-loop system, AeroFarms LLC vertical farms deliver nutrients and water efficiently to plants, increasing yields and accelerating growth cycles. These innovations highlight the potential for aeroponics to revolutionize the microgreens market. These above-mentioned factors will drive the growth of the indoor vertical farming segment and will propel the growth of the global microgreens market during the forecast period.
North America is estimated to contribute 36% to the growth of the global market during the forecast period
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The microgreens market in the US has seen tremendous growth due to a growing awareness of the importance of healthy eating. Consumers are becoming more aware of the nutritional benefits of microgreens. Microgreens are young, tender, edible seedlings that are harvested at the early stages of growth. Urban and indoor farming initiatives have led to an increase in the number of microgreens available year-round, meeting the need for fresh, local produce.
In addition, microgreens are becoming increasingly popular among Canadian consumers, just as they are among US consumers. Canadians love microgreens for their unique flavors, bright colors, and high nutrient content. Canadas thriving agricultural sector is at the forefront of the microgreen revolution. Canada's diverse climate has led to the development of controlled-environment agriculture that allows microgreens to be grown year-round. These factors will fuel the growth of the regional market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market forecasting growth and analysis.
The Microgreens Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 10 market companies, including AeroFarms LLC, Charlies Produce, Dream Harvest, Emerald Gardens Microgreens, Farm.One Inc., Freight Farms Inc., Fresh Origins, Garden Guru, Kalera Inc., Living Earth Farm, Metro Microgreens, Pure Microgreens LI Inc., Quantum Green, Teshuva Agricultural Projects Ltd., The Chefs Garden, TruLeaf, Gotham Greens Holdings LLC, and SUBA SEEDS Co. Spa
Microgreens Market market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The microgreens market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Microgreens Market Scope |
|
Report Coverage |
Details |
Page number |
145 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.1% |
Market Growth 2024-2028 |
USD 986.03 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
9.74 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 36% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AeroFarms LLC, Arizona Microgreens, BrightFresh, Charlies Produce, Dream Harvest, Emerald Gardens Microgreens, Farm.One Inc., Freight Farms Inc., Fresh Origins, Garden Guru, Kalera Inc., Living Earth Farm, Metro Microgreens, Pure Microgreens LI Inc., Quantum Green, Teshuva Agricultural Projects Ltd., The Chefs Garden, TruLeaf, Gotham Greens Holdings LLC, and SUBA SEEDS Co. Spa |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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