Market Research Future has published a half-cooked research report on the Global Microgreens Market, 2020–2030.
The global microgreens market is projected to exhibit a CAGR of 13.5% during the forecast period of 2022 to 2030.
Market Research Future has recognized the following companies as the key players in the global Microgreens market AeroFarms, Fresh Origins, Gotham Greens, Madar Farms, 2BFresh, The Chef's Garden Inc., Farmbox Greens LLC, Living Earth Farm, GoodLeaf Farms, and Bowery Farming among others.
The global microgreens market is projected to be valued at approximately USD 2,500 million by 2030, recording a CAGR of 13.5% during the forecast period. Microgreens are young, tender vegetable greens. They are popular for their flavor, which is often more complex than their adult counterparts. For example, microgreens have a delicate, yet spicy mustard-like taste, which makes them ideal in salads or sandwiches. They are also popular in soups because they add a mild, sweet flavor to the broth. Because of their mild flavors, they are easy to add to virtually any dish.
In the year 2020, the COVID-19 virus started to spread across the world. This virus quickly spread across the world infecting almost everyone. A drastic rise was seen in the number of cases and soon the government took steps to curtail its spread. They gave guidelines to follow but also made strict regulations concerning public interaction to ensure people didn't end up infecting one another. Manufacturing plants were closed down, certain goods and facilities were permitted to be produced, but only temporarily, and using half of their full workforce along with taking strict precautions to prevent the spread of COVID-19.
There was a decrease in demand for the microgreens market during the pandemic. This was due to the closure of various industries that are linked with the microgreen market. The supply chain was disrupted to the grocery stores and restaurants leading to low demand. Apart from these, there was a closedown of various restaurants that reduced the demand for microgreen in the market. There was lockdown across the world and also the border was closed which has led to disruption of cross-country trade. The production also got affected due to the closing down of industries or operating with 50% capacity. All this has severely affected the supply chain of the microgreens market at a global level.
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The global microgreens market has been segmented based on type, farming, distribution channel, end-user, and region.
By type, the global microgreens market has been segmented into broccoli, cabbage, cauliflower, arugula, peas, basil, radish, cress, and others. Among these the broccoli segment is expected to grow rapidly due to expanding production, increasing popularity as a health food and increasing agricultural output.
Based on farming, the global microgreens market has been segmented based on indoor vertical farming, commercial greenhouses, and others. Vertical farming has been a growing trend, especially with the development of new technologies. Vertical farms can control the climate, increasing the overall quality and harvest of microgreens. The indoor vertical farming segment is expected to grow rapidly in the microgreen market due to the rising demand for organic produce and the need for specialty ingredients.
Based on distribution channels, the global microgreens market has been segmented based on retail stores, farmer's market, and others. The retail store segment is expected to hold a large market share in the microgreen market due to the growth of chain retailers such as Walmart, and the expansion of large retail companies in emerging markets such as China and India.
Based on end-user, the global microgreens market has been segmented based on residential and commercial. The residential sector is expected to witness massive demand in the microgreen market due to the increased awareness of healthy food products and growing food and beverages industry in the region. Microgreens are young and tender greens that are usually grown indoors or in a greenhouse. They are generally eaten raw as salads or used for adding to food like smoothies and salads
Geographically, the global microgreens market has been categorized as North America, Europe, Asia-Pacific, and Rest of the World. North America is the largest market for microgreens due to the growing interest in incorporating them into health products and increase in pre-mixed microgreen packs sold. The market is also driven by the increasing awareness of microgreens as a health-enhancing food product in the region. While the region is expected to maintain its dominance during the study period, the market in the region is projected to grow at a significant rate over the forecast period. Increasing health awareness among consumers is expected to be a key driver for the growth of the market.