Broccoli Microgreens Market to Reach $398.5 Million, Globally, by 2031 at 5.5% CAGR: Allied Market Research

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Jan 09, 2023, 06:30 ET

The health benefits of broccoli microgreens, the adoption of roof gardens and park gardens to grow microgreens, and the increase in use of microgreens in the food services industry for flavor and texture enhancement drive the global broccoli microgreens market.

PORTLAND, Ore., Jan. 9, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Broccoli Microgreens Market by Farming (Indoor Vertical Farming, Commercial Greenhouses, Other), by Distribution Channel (Retail Store, Farmers Market, Others), by End User (Residential, Commercial): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global broccoli microgreens industry generated $237.20 million in 2021, and is estimated to reach $398.5 million by 2031, witnessing a CAGR of 5.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

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Drivers, Restraints, and Opportunities

Increase in popularity of the health benefits of broccoli microgreens, the adoption of roof gardens and park gardens to grow microgreens, the need of less resources to grow broccoli microgreens, increase in spending on healthy, fresh, and nutritious agricultural produce, and the surge in use of broccoli microgreens in the food services industry as flavor and texture enhancement ingredient drive the growth of the global broccoli microgreens market. However, a lack of understanding about the health advantages of broccoli microgreens and inadequate technical skills for their cultivation hamper the market growth. On the other hand, rise in technological advancements in indoor farming, including the resurgence of information technology in vertical farming and greenhouses, and rise in adoption of protected cultivation and financial and technical support from the government to farmers for erection of protected cultivation plants to increase the production of broccoli microgreens are likely to present new growth opportunities for the global market in the coming years.

Covid-19 Scenario

The outbreak of the COVID-19 pandemic had a negative impact on the growth of the broccoli microgreens market. The supply chain had been adversely affected and the whole food & beverage industry underwent huge losses.
The lockdown imposed during the pandemic severely affected the sales of microgreens due to the supply chain disruption and closure of restaurants and grocery stores.
However, as the pandemic situation began improving worldwide, the demand for microgreens started rising steadily and the market is expected to grow in the coming years.

The commercial greenhouses segment to maintain a progressive revenue growth during the forecast period

Based on farming, the commercial greenhouses segment was the largest market in 2021, contributing to nearly three-fifths of the global broccoli microgreens market share, and is expected to maintain its leadership status during the forecast period. In the production of microgreens, greenhouse has been gaining significant share. This is because of the benefits associated with greenhouses such as establishing most suitable climatic conditions for each crop and stage of plant growth, greater control over pests, weeds, and diseases, and more efficient use of productive resources. Furthermore, they allow farmers extend the growing season. On the other hand, the indoor vertical farming segment is projected to witness the fastest CAGR of 6.4% from 2022 to 2031, due to the growing technological evolution in indoor vertical farming such as remote operations, insurgence of the information technology that allows managing things through mobile applications, automatic irrigations, and fertilizations.

The farmers segment to maintain its dominance during the forecast period

Based on distribution channel, the farmers segment held the largest market share of more than two-thirds of the global broccoli microgreens market in 2021, and is expected to maintain its dominance during the forecast period. This is because farmers market provides wider access to fresh and nutritious food. Consumers are increasingly finding places where they can purchase fruits, vegetables, and organic items and therefore, selling microgreens in farmers market is preferred. Furthermore, microgreens growers are increasingly preferring farmers market, owing to less transport, handling, refrigeration, high profit, and less time in storage. On the other hand, the retail store segment is projected to witness the largest CAGR of 7.0% from 2022 to 2031, due to growth in expansion of retail stores and rise in adoption of high-tech cold storage facility in retail stores. Furthermore, rise in urbanization and expansion of the metro cities drive the growth of the sector.

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Asia-Pacific to grow at the fastest CAGR by 2031

Based on region, Europe was the largest market in 2021, capturing two-fifths of the global broccoli microgreens market and is likely to maintain a noteworthy growth during the forecast period. This is due to the rise in the health-conscious population and quick adoption of the indoor vertical farming technology in the region. Growing number of restaurants, increasing demand for healthy food items and the continuous expansion of area under protected cultivation in the region also drive the segment. However, the Asia-Pacific market is expected to manifest the fastest CAGR of 7.7% during the forecast period, due to the growing number of health-conscious people, high spending on functional foods, and increasing demand for organic vegetables in the region.

Leading Market Players

AeroFarms
Fresh Origins
Fresh City Farms Inc
2BFresh
The Chef's Garden Inc.
FarmBox Greens LLC
Living Earth Farm
GoodLeaf Farms
Green Thumb Growers TT
Seed Leaf Micro Farm

Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://bit.ly/3ZnElos

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