Dublin, July 17, 2024 (GLOBE NEWSWIRE) -- The "Global Microgreens Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts" report has been added to ResearchAndMarkets.com's offering.
The 'microgreens market' is expected to grow at a CAGR of 12.1% during the forecast period of 2024 to 2032, driven by growing consumer awareness of health benefits, the trend of home gardening and urban farming, and the expanding culinary applications in restaurants.
However, challenges in scaling up production pose a notable restraint. Market segmentation reflects the dynamic preferences for farming methods, distribution channels, and regional variations in consumer behavior. Geographically, North America leads in revenue, while the Asia-Pacific region presents high growth potential.
Competitive trends highlight the strategies adopted by major players, including Fresh Origins, Gotham Greens, and BrightFarms. As the microgreens market progresses from 2023 to the forecast period of 2032, addressing scalability challenges, meeting consumer preferences, and adapting to regional nuances will be critical for sustained success in this flourishing market.
In 2023, major players in the microgreens market included Fresh Origins, Inc., Gotham Greens, BrightFarms, Inc., Koppert Cress B.V., AeroFarms, Good Leaf Farms, Living Earth Farms, Farmbox Greens, Chef's Garden, Bowery Farming, Teshuva Agricultural Projects Ltd., Madar Farms, and Metro Microgreens. These companies adopted diverse strategies, including sustainable farming practices, product innovation, and strategic collaborations.
The evidence lies in initiatives such as vertical farming technologies, partnerships with restaurants and retailers, and the development of new microgreen varieties. As of 2023, the competitive landscape indicates a market where innovation, sustainability, and strategic alliances are crucial for success. Revenues for 2023 and the expected landscape for the forecast period (2024-2032) reveal a dynamic market where adapting to consumer trends, investing in technological advancements, and addressing scalability challenges are key determinants of success.
North America Remains the Global Leader
Geographically, North America dominated the microgreens market in 2023, driven by the high demand for fresh and nutritious produce. However, the Asia-Pacific region is expected to exhibit the highest CAGR during the forecast period. The evidence lies in the increasing adoption of Western dietary trends, rising health consciousness, and the influence of culinary diversity in Asia-Pacific countries. These geographic trends emphasize the need for market players to tailor their offerings to regional preferences, culinary traditions, and health and wellness trends.
Growing Consumer Awareness of Health Benefits
The increasing awareness among consumers regarding the health benefits of microgreens is a significant driver propelling market growth. microgreens, such as kale, broccoli, and radish microgreens, are rich sources of vitamins, minerals, and antioxidants. Studies have highlighted the nutritional superiority of microgreens compared to their mature counterparts, contributing to their appeal among health-conscious consumers. The evidence lies in the rise of culinary and wellness influencers promoting microgreens for their nutritional value through social media platforms. This increased awareness has led to a surge in demand, with consumers incorporating microgreens into their diets to enhance overall health and well-being.
Rising Trend of Home Gardening and Urban Farming
The trend of home gardening and urban farming has become a driving force in the microgreens market. With a growing emphasis on sustainability and the desire for fresh, locally sourced produce, individuals are increasingly cultivating microgreens at home. Indoor vertical farming and home gardening kits provide convenient solutions for individuals to grow their microgreens. The evidence lies in the proliferation of online platforms offering guidance on home microgreen cultivation, coupled with the surge in sales of microgreen seeds and kits. As the trend of home gardening gains momentum, it positively influences the market by fostering a culture of self-sufficiency and promoting the consumption of freshly harvested microgreens.
Expanding Culinary Applications and Restaurant Adoption
The expanding culinary applications of microgreens and their adoption by restaurants contribute significantly to market growth. Chefs worldwide are incorporating microgreens to add visual appeal, texture, and distinct flavors to a variety of dishes. The evidence lies in the menu offerings of upscale restaurants and culinary influencers showcasing the creative use of microgreens in gourmet preparations. As consumer palates become more adventurous and seek diverse gastronomic experiences, the demand for microgreens in restaurants is expected to rise. The market benefits from the endorsement of microgreens by renowned chefs and their integration into mainstream culinary practices.
Challenges in Scaling Up Production
A notable restraint in the microgreens market is the challenge of scaling up production to meet the increasing demand. While home gardening and small-scale farming have gained popularity, fulfilling the requirements of commercial distribution poses challenges. The evidence lies in reports highlighting logistical constraints, limited infrastructure for large-scale microgreens cultivation, and the need for standardized production practices. As demand outpaces the capacity for mass production, there is a risk of supply shortages. Overcoming this restraint requires strategic investments in farming technology, infrastructure, and collaborations to establish efficient and scalable production processes.
Farming Segmentation: Commercial Greenhouse Farming Dominates the Market
In 2023, the microgreens market witnessed the highest revenue from commercial greenhouse farming. However, the highest Compound Annual Growth Rate (CAGR) during the forecast period (2024-2032) is expected from indoor vertical farming. This dynamic growth is driven by the advantages of controlled environments, year-round cultivation, and reduced reliance on external factors. Studies and industry reports support the sustainability and efficiency of indoor vertical farming methods for microgreens. As the market progresses, the shift toward indoor vertical farming is expected to be influenced by factors such as resource efficiency and climate independence.
Distribution Channel Segmentation: Retail Stores Dominate the Market
Retail stores contributed the highest revenue to the microgreens market in 2023, encompassing supermarkets, specialty stores, and farmers' markets. However, the highest CAGR during the forecast period is anticipated from online channels. The evidence lies in the global trend of increasing online grocery shopping and the convenience it offers to consumers. With the ease of access to a wide variety of microgreens through online platforms, coupled with the growing preference for contactless shopping, online distribution channels are poised for significant growth. The market benefits from the convenience and accessibility provided by online platforms, influencing purchasing patterns.
Key Questions Answered
- What are the key micro and macro environmental factors that are impacting the growth of Microgreens market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2032.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Microgreens market?
- Which is the largest regional market for Microgreens market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Microgreens market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Microgreens market worldwide?
Company Profiles
- Fresh Origins, Inc.
- Gotham Greens
- BrightFarms, Inc.
- Koppert Cress B.V.
- AeroFarms
- Good Leaf Farms
- Living Earth Farms
- Farmbox Greens
- Chefa€Ts Garden
- Bowery Farming
- Teshuva Agricultural Projects Ltd.
- Madar Farms
- Metro Microgreens
Market Segmentation
Farming Type
- Indoor Vertical Farming
- Commercial Greenhouse
- Others
Distribution Channel
- Retail Stores
- Online
- Farmers Market
- Others
Produce
- Broccoli
- Cabbage
- Radish
- Arugula
- Basil
- Amaranth
- Celery
- Beets
- Others
For more information about this report visit https://www.researchandmarkets.com/r/l4tvnb
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
