Microgreen Market demand driven by strong and sustained interest from health-conscious consumers is expected to grow at an 11.76 % CAGR

Microgreen demand is expected to grow at a compound annual growth rate of 11.76 % percent until FY30. The surge in demand for healthy and nutritious food products worldwide is expected to be a major driver for the Microgreen Market Growth according to an analysis by Maximize Market Research.

PUNE, India, Aug. 27, 2024 /PRNewswire/ -- Over the next seven years, the Microgreen Market is expected to witness significant growth, driven by the health-conscious consumer segment, the gourmet food industry and urban farming initiatives. These factors are expected to account for 80 percent of market demand, with substantial absorption in major urban centers such as New York, Los Angeles, Chicago, Houston, and Miami, where up to 30 percent of demand is concentrated.

The advancements in automated farming technologies and AI-driven growth optimization are projected to enhance cultivation efficiency and yield. Also, the integration of sustainable practices, including renewable energy and water recycling systems, is expected to become increasingly important. These innovations are expected to bolster the Microgreen Market's growth trajectory while also addressing environmental concerns, making the microgreen industry a dynamic and sustainable sector.

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Trends in the Global Microgreens Market: Growing Investments in Vertical Farming

The global microgreens market is witnessing remarkable growth, accelerated by rising market demand and increased investments in vertical farming technologies. The adoption of vertical farming is transforming microgreens production, with the global market supply expected to increase significantly. In 2022, indoor farms covered 204,387 square meters globally, a figure projected to grow nearly tenfold in the next five years, according to Maximize Market Research. Companies such as AeroFarms and Madar Farms are leading the charge. AeroFarms, for instance, operates the world's largest aeroponic vertical farm in Newark, New Jersey, with a production capacity of 2 million pounds of microgreens annually.

Meanwhile, Madar Farms in the UAE leverages Controlled Environment Agriculture (CEA) to optimize yield. The increasing consumer preference for sustainable and eco-friendly farming methods is boosting market share. Companies such as Farmbox Greens, which focuses on organic and pesticide-free microgreens, are well-positioned to capitalize on this trend. The global Microgreens Market's rapid growth is a witness to the industry's innovative and sustainable practices.

Microgreen Market: Segment Analysis

The global Microgreen Market is segmented into by Type, by Farming, by Distribution Channel and by End User. The Type segment includes Broccoli, Cabbage, Cauliflower, Arugula, Peas, Basil, Radish and Other. The Broccoli segment dominated the Type segment of the Microgreen Market in the year 2023. Factor attributed to this growth is its significant health benefits, including anti-inflammatory properties, cancer prevention, and improved heart health. This growing awareness among health-conscious consumers drives demand for broccoli microgreens, which are also favored for their vibrant flavor and versatility in culinary applications.

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Microgreen Market: Regional Analysis

North America dominated the microgreens market in the year 2023 accounting for over 60% of global revenue, primarily due to rising health consciousness and the demand for fresh, nutrient-dense foods. The U.S. leads this trend, with significant adoption of indoor and vertical farming technologies, enabling year-round production.  For instance, California's hydroponic farms excel in growing popular varieties like broccoli microgreens, catering to high-end restaurants and health-focused consumers. Canada also contributes to this dominance, where farmers utilize indoor agriculture to mitigate pest issues and optimize growth conditions.

The region's focus on organic produce boosts microgreens popularity. Moreover, the increasing number of health-conscious consumers and culinary professionals seeking innovative ingredients enhances market growth.  As a result, North American companies, such as AeroFarms and Farmbox Greens, are at the forefront of microgreens production, setting trends that influence global markets, including emerging regions such as Asia-Pacific, where demand for microgreens is also rising due to changing dietary preferences.

Microgreen Market: Segmentation

By Type

1. Broccoli
2. Cabbage
3. Cauliflower
4. Arugula
5. Peas
6. Basil
7. Radish
8. Other

By Farming

1. Indoor Vertical Farming
2. Commercial Farming
3. Others

By Distribution Channel

1. Retail Stores
2. Online
3. Farmers Market
4. Others

By End-use

1. Food Services
2. Retail
3. Others

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Microgreen Market Key Players

1. AeroFarms (USA)
2. Gotham Greens (USA)
3. BrightFarms (USA)
4. Farmbox Greens (USA)
5. Madar Farms (UAE)
6. Fresh Origins (USA)
7. GoodLeaf Farms (Canada)
8. Metro Microgreens (USA)
9. The Chef's Garden (USA)
10. Square Roots (USA)
11. Little Leaf Farms (USA)
12. Infinite Harvest (USA)
13. Pure Green Farms (USA)
14. Plenty Unlimited Inc. (USA)
15. Greenbelt Microgreens (Canada)

Maximize Market Research is leading Agriculture, has also published the following reports:

Global Vertical Farming Market: The Vertical Farming Market size was valued at US 5.07 Billion in 2023 and market revenue is growing at a CAGR of 25.7 % from 2023 to 2030, reaching nearly USD 25.14 Billion by 2030. Increasing global population and decreasing cultivable arable land in the World boost the Vertical Farming Market Growth.

Broccoli Microgreens Market : Broccoli Microgreens Market was worth USD 262 Mn. in 2023 and is expected to grow at a CAGR of 5.73% to an estimated revenue of USD 386.98 Mn. by 2030. The increasing focus on healthy eating habits and the demand for nutrient-dense foods have boosted the market forward.

Indoor Farming Market: Indoor Farming Market size was valued at USD 22.73 Billion in 2023 and the Indoor Farming Market revenue is expected to reach USD 47.19 Billion by 2030, at a CAGR of 11 % over the forecast period. Increasing Demand for Locally Grown, Fresh Produce to boost Indoor Farming Market growth.

Smart Farming Market: Smart Farming Market size was valued at USD 13.33 Million in 2023 and the Smart Farming Market revenue is expected to reach USD 27.71 Million by 2030, at a CAGR of 11.02 % over the forecast period. The growing use of artificial intelligence drives the Market growth.

Precision Livestock Farming Market size was valued at USD 4.14 Bn. in 2023 and the total Precision Livestock Farming revenue is expected to grow by 8.5 % from 2024 to 2030, reaching nearly USD 7.33 Bn.

Global Precision Swine Farming Market size was valued at USD 418 Million in 2023 and the total Precision Swine Farming revenue is expected to grow at a CAGR of 11.1 % from 2024 to 2030, reaching nearly USD 873.32 Million

Global Dairy Farming Market size was valued at USD 940.73 Bn in 2023 and Dairy Farming market revenue is expected to reach USD 1386.72 Bn by 2030, at a CAGR of 5.7% over the forecast period.

Key Benefits for Stakeholders:

• This report offers a comprehensive analysis of the Microgreen market, combining both quantitative and qualitative insights. It covers segment analysis, current trends, market dynamics, challenges, and forecasts for the industry from 2024 to 2030.
• Utilizing Porter's Five Forces framework, the report examines the power of buyers and suppliers, supporting stakeholders in making informed decisions and strengthening supplier-buyer relationships.
• A detailed look at market segmentation covers key opportunities within the Microgreen sector.
• Major countries within each region are mapped according to their revenue contributions, highlighting their impact on the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

About Maximize Market Research:

Maximize Market Research is a multifaceted Market Research and consulting company with professionals from several industries. Some industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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SOURCE Maximize Market Research Pvt. Ltd.

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