CAGR of 11.1%|Microgreens Market estimated to reach $2,049.3 million by 2028

According to a new report published by Allied Market Research, titled, “Microgreens Market by Type, Farming, Distribution Channel and End User: Global Opportunity Analysis and Industry Forecast, 2021–2028,” The global microgreens market size is expected to reach $2,049.3 million by 2028 at a CAGR of 11.1% from 2021 to 2028.

Microgreens are edible plants that are harvested in the juvenile growth stage. They have a quick crop cycle. They are ready to harvest in around 7 to 14 days, depending on the species and varieties of the microgreens. Microgreens are majorly cultivated in the indoor vertical and greenhouse farming methods as they need intense care and controlled environment. The favorable temperature for the healthy and desired growth of microgreens is 18 to 24°C and relative humidity (RH) of 40 to 60%; therefore, protected cultivation is majorly used.

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Microgreens have been gaining major popularity among the health-conscious people as they contain huge among of vitamins and antioxidants, which helps reduce the risk of cardiovascular and chronic diseases. Furthermore, microgreens need comparatively less resources to grow at home for daily consumption; therefore, it can be easily grown in the garden and rooftop. Rise in adoption of the protected cultivation and financial and technical support from the government to farmers for erection of protected cultivation plants are likely to support to increase the production of microgreens. Furthermore, growing use of microgreens in the food services industry as flavor and texture enhancement ingredient is expected to surge the demand for microgreens.

Due to the COVID-19 pandemic, supply chain has been adversely affected and whole food & beverage industry is still incurring losses. Governments are frequently practicing total lockdown to limit the spread of corona virus, in which restaurants are strictly suggested to close. Restaurant is one of the major selling points of the microgreens. Temporarily, COVID-19 pandemic is restraining the growth of the global microgreens market during the forecast period.

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According to microgreens market analysis, the microgreens market is segmented on the basis of type, farming, distribution channel, end user, and region. On the basis of type, the market is categorized into broccoli, cabbage, cauliflower, arugula, peas, basil, radish, cress and others. By farming, it is segregated into indoor vertical farming, commercial greenhouses and others. According to distribution channel, it is divided into retail stores, farmers market and others. By end user, market is segmented into residential and commercial. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Russia, Spain, Italy, France, Germany, UK, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, Africa)

According to microgreens market forecast, on the basis of type, the arugula segment was valued at $201.8 million in 2019, and is projected to reach $281.7 million by 2028, registering a CAGR of 9.4% from 2021 to 2028. Arugula is one of the most popular type of microgreens among the chefs and consumers. It is majorly used in the restaurants by the chefs as favoring and garnishing agent. It is rich sources of vitamins and minerals. For instance, according to the United States Department for Agriculture (USDA) Trusted Source nutrient database, a cup of arugula weighing around 20 grams contains approximately 5 calories. It contains 0.516 g of protein and 0.132 g of fat per 20 grams of arugula microgreens.

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Key findings of the study

In 2019, the microgreens market was valued at $1,276.0 million, and is estimated to reach $2,049.3 million by 2028, growing at a CAGR of 11.1% during the forecast period.
In 2019, depending on farming, the vertical farming segment was valued at $752.9 million, accounting for 59.0% of the global microgreens market share.
In 2019, depending on end user, the residential segment was valued at $350.9 million, accounting for 27.5% of the global microgreens market share
In 2019, the U.S. was the most prominent market in North America, and is projected to reach $391.0 million by 2028, growing at a CAGR of 10.0% during the forecast period.

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The players operating in the portable air conditioner industry have adopted product launch and business expansion as their key developmental strategies to expand their 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, GoodLeaf Farms, and Bowery Farming.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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