Microgreens - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

Microgreens - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Microgreens Market size is estimated at USD 245.77 billion in 2024, and is expected to reach USD 335.16 billion by 2029, growing at a CAGR of 6.40% during the forecast period (2024-2029).

Key Highlights

• Microgreens are small, tender vegetable greens commonly consumed to enhance the color, texture, and flavor of various dishes, including pasta, pizza, omelets, and salads. Their robust aromatic flavor, diverse range of colors, and textures make them popular in culinary applications. The health benefits associated with consuming microgreens include weight management, prevention of chronic medical conditions, immunity boosting, and mental health improvement.
• The market for microgreens is primarily driven by chefs who use them to elevate flavors and enhance the visual appeal of their dishes. Additionally, a niche industry contributing to growth in this segment is cosmetics. Microgreens are processed into oils and ingredients for consumer products like shampoo and skincare items due to their high content of vitamins A and B, along with various micro-elements. This factor makes them desirable components for manufacturers in the personal care product industry, leading to an expected increase in demand for microgreens over time.
• While greens and herbs or microgreens are among the most profitable crops, the limited varieties available for indoor farming might restrict market growth. Although hydroponics farming holds significant potential, its progress and adoption in agriculture have been relatively slow.
• Broccoli, lettuce, arugula, and basil are among the essential microgreens cultivated worldwide using hydroponics and vertical farming techniques. The demand for microgreens is on the rise in developed countries, as they can be cultivated indoors throughout the year. For example, according to the United States Fresh Produce Association, the likelihood of consumers purchasing broccoli microgreens increases with income and age. With a growing population, microgreens offer a nutritious and sustainable means to diversify the food supply, which is expected to drive market growth in the coming years. In 2022, North America held the largest market share, led by the United States, followed by Canada and Mexico.

Microgreens Market Trends

Rise in Adoption of Indoor Farming

• The growing population has led to increased food demand, making farmers turn towards high-tech methods like indoor farming because of the decrease in productive land. Along with this, the growing health consciousness has led people to consume a diet full of nutrients, which has led to the adoption of indoor farming practices.
• According to a survey conducted by Artemis, an intelligence platform, nearly 16% of indoor cultivators are engaged in the production of microgreens. Thus, the market for microgreens is anticipated to grow in the future.
• In addition to these factors, the increased acceptance of agricultural mechanization and advanced knowledge of high-tech farming techniques like hydroponics, aeroponics, and aquaponics is anticipated to promote the expansion of the microgreens industry. With consumers worldwide turning toward healthy diets, the demand is increasing, and microgreen production is expected to increase in the coming years. This rising adoption of protected cultivation has led the market to grow moderately.
• Furthermore, in Canada, there has been a steady increase in greenhouse vegetable production, including microgreens, and it is anticipated that the multi-decade growth trend will continue soon. Notably, in 2021, provinces like Ontario, British Columbia, and Quebec boasted the highest harvested areas of greenhouse-grown vegetables, with 1378.7, 316.8, and 151.1 hectares, respectively.
• Henceforth, the success of greenhouse technology is boosting the microgreens market. Thus, the revenue has stabilized with the growth in demand, which, in turn, has aided in the market growth.

North America is the Largest Market for Microgreens

• North America accounted for the largest share of the microgreens industry in 2022. The rise in the awareness of health benefits and balanced diets has made people in this region include green vegetable salads and organic-based food items, including microgreens, in their diets, increasing the market for microgreens. With the help of enhanced indoor and vertical farming practices, US growers have been able to produce microgreens on a large scale. For instance,
• According to Agrilyst, a prominent intelligence platform, greenhouse distribution across various areas in the United States varied considerably. Moreover, hydroponic farming has proven to be the most lucrative for Californian farmers, particularly for crops like broccoli, lettuce, and salad vegetables, which are well-suited to this farming technique.
• Many retailers provide "Certified Naturally Grown" microgreen seeds to local restaurants and farmers in the United States, which can be grown hydroponically and through vertical farming. Canadian farmers rely on indoor agriculture rather than greenhouse farming for growing microgreens because of the electricity needed for lighting. Growing indoors eliminates many of the pest and disease problems of outdoor production. Thus, farmers are tapping into this market due to the increased microgreen demand from companies globally.

Microgreens Industry Overview

The microgreens market is fragmented and highly competitive due to the presence of international and regional players. The key players in the microgreens market include Farmbox Greens LLC, The Chef’s Garden Inc., Aerofarms LLC, Living Earth Farms, and Good Leaf Farms. These players are adopting product launches and expansion as key strategies for growth in the microgreens market.

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• The market estimate (ME) sheet in Excel format
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