The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Microgreens Global Market Report 2024, the microgreens market is expected to show significant growth in the forecast period.

The microgreens market has experienced remarkable growth in recent years, with a market size set to climb from $1.91 billion in 2023 to $2.14 billion in 2024 at a noteworthy compound annual growth rate (CAGR) of 12.2%. The surge in the historic period is attributed to increased consumer awareness, adoption of microgreens by restaurants and foodservice, rise of urban agriculture and home gardening, recognition of microgreens as nutrient-dense, healthy ingredients, and the increased popularity of urban farming.

Market Projections for the Future

• Expected 2028 Market Size: $3.46 billion
• CAGR in Forecasted Period: 12.8%
• Drivers of Growth:
  • Sustainable farming and locally sourced products
  • Demand for alternative protein sources
  • Increasing demand for premium and high-quality ingredients
  • Growing demand for sustainable and eco-friendly food products

Forecasted Trends

• Increasing investments in R&D: Developing new microgreen varieties
• Popularity in food service and cosmetic industries: Expanding market reach
• Focus on product innovation: Introducing unique microgreen varieties
• Eco-friendly packaging: Aligning with sustainability goals

Cultivating Growth: The Impact of Indoor and Vertical Farming

The adoption of indoor and vertical farming practices emerges as a significant driver for the microgreens market. Vertical farming, a method of growing crops in stacked layers, minimizes land usage compared to conventional techniques. This approach, often associated with urban farming, aligns well with the cultivation of microgreens due to their space-efficient nature. The benefits range from sustainable urban growth to cost-effective crop production. Notably, Bayer reported a surge in indoor farms globally, reaching 204,387 sq m (2.2 million sq ft) in 2022, with expectations to nearly decuple to 2 million sq m (22 million sq ft) in the next five years. This rise in indoor and vertical farming adoption is a key factor propelling the growth of the microgreens market.

Key Players in the Microgreens Market

• AeroFarms LLC
• Goodleaf Farms
• Living Earth Farm
• Fresh Origins
• Gotham Greens
• Bowery Farming Inc.
• Charlie’s Produce (Farmbox Greens LLC)
• Madar Farms
• Metro Microgreens
• The Chef’s Garden Inc.
• Koppert Cress USA
• Florida Microgreens
• Infinite Harvest
• Harvest Urban Farms

View More On The Microgreens Market Report 2024 –
https://www.thebusinessresearchcompany.com/report/microgreens-global-market-report

Technological Marvels: AI in Microgreens Production

Technological advancements, especially the integration of artificial intelligence (AI), play a pivotal role in shaping the microgreens market. AI-powered systems enhance the quality of microgreens production, ensuring optimal growth conditions. Microgreens in capsules, under the supervision of AI, track their development through embedded chips in the growing cabinet. This intelligent system provides real-time alerts for potential issues and recommends the best time for harvest. GOhydro, in February 2021, introduced a smart-sensing, AI-driven hydroponic platform for home settings. The platform analyzes variables influencing microgreens’ growth and nutritional value, paving the way for large-scale applications in traditional agriculture and diverse growing environments.

Strategic Acquisition: Green Life Farms and Finn Farms

In September 2021, Green Life Farms, a US-based sustainable farming company, acquired Finn Farms, a producer of hydroponic foods, including herbs and microgreens. This strategic move enabled Green Life Farms to expand its product portfolio, incorporating Finn Farms’ intellectual property and licensing rights. The acquisition reflects the continuous efforts within the industry to provide consumers with the freshest and tastiest leafy greens.

Market Segmentation: Understanding the Greenspace

The microgreens market is segmented based on type, category, farming method, and end-user.

Market Segmentation Overview:

1. Type:
   • Broccoli, Cabbage, Cauliflower, Arugula, Peas, Basil, Radish, Cress, Other Types
2. Category:
   • Organic, Conventional
3. Farming Method:
   • Indoor Vertical Farming, Commercial Greenhouse, Other Farming
4. End User:
   • Retail, Food Service, Other End-users

Regional Dynamics: North America Takes the Lead

North America led the microgreens market in 2023, showcasing the region’s significant contribution to the industry’s overall growth. The thriving market in North America is a testament to the increasing demand and acceptance of microgreens in various consumer segments.

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The Microgreens Global Market Report 2024  provides an in-depth analysis on the microgreens market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the microgreens market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Indoor Farming Technology Global Market Report 2024

Commercial Greenhouse Global Market Report 2024

Organic Vegetable Farming Global Market Report 2024

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