Indoor Vertical Farming to Give Impetus to Growth of the Microgreens Market
Increasing health consciousness among individuals has resulted in growing demand for nutrition rich diet including various ingredients, and microgreens are no exception. This has triggered adoption of indoor vertical farming practices by consumers in apt conditions. In indoor vertical farming, crops are grown in environments equipped with required and suitable conditions such as sufficient light, temperature, water, and appropriate growth catalysts. Indoor vertical farming has been gaining high traction as consumers can control production of crops in any season and expect increased productivity. In this backdrop, growing trend of indoor vertical farming is expected to bolster growth of global microgreens market. Moreover, adoption of indoor vertical farming is seen as a suitable alternative to conventional farming technique due to increasing population, and limited food production. For instance, according to United Nations, world population is expected to increase significantly to touch 9.8 billion by end of 2050 and to meet food requirement of growing consumer pool, it becomes imperative to rely in alternative methods such as indoor vertical farming, which boosts the progress of microgreens market.
Broccoli Microgreens to Witness Huge Demand from Health Conscious Consumers
Demand for broccoli among other microgreens from nutrition and health conscious consumers is expected to increase at a significant rate on the global front. This is mainly owing to various health and nutrition benefits offered by broccoli microgreens that help in fighting inflammation, provide immunity against chronic ailments such as cancer, facilitate improved digestion and enhanced heart health. Broccoli microgreens are high in sulforaphane which supports cardiovascular health, has antidiabetic properties, anti-ageing properties, helps fighting autism and enhances brain function. This has fuelled their consumption worldwide, in turn contributing towards value growth of the microgreens market.
North America Likely to Cement Dominance in Microgreens Market
With changing consumer preference towards nutritious food on the back of growing lifestyle diseases, the production and consumption of microgreens has prevailed since past few years in North America. This aspect is expected to further increase in the coming years across developed economies such as Canada, and United States resulting in North America to account for a significant share in the microgreens market. This can be mainly attributed towards evolution and rise of wellness diets that include green salads along with organic food. Moreover, adoption of efficient and novel techniques such as vertical, indoor, and hydroponic farming is expected to drive production of microgreens in the region. Using such techniques, production yield can provide improved revenue for farmers from various crops such as lettuce, broccoli, and salad vegetables.
In addition, consumption of microgreens is expected to increase in North America owing to their perceived health benefits such as reduction in the risk of heart attacks, and chronic ailments such as cancers, and Alzheimer’s. Preference of consumers for protein rich, low carb and low fat food products has resulted in an increased demand for microgreens, which in turn has resulted in an increase in area of cultivation. This factor continues to influence the production of microgreens in the region, consequently bolstering growth of the market in North America.
Alternatively, emerging nations in Asia Pacific are also expected to showcase high growth lucrativeness for microgreens market. This is mainly owing to rising population, rising prevalence of chronic ailments coupled with increasing consumer pool for diet and nutritious food and stable increase in GDP per capita. In this backdrop, producers and distributors of microgreens can expect a positive stream of opportunities from emerging economies in Asia Pacific in the years to follow.
Microgreens Market: Competitive Landscape
Major players in the microgreens market have been focusing on partnerships, expanding their production facilities, and increasing distribution capacities. For instance, in 2021, AeroFarms expanded distribution of its leafy greens to over 350 Stop & Shop Stores in New England and North-East regions to increase consumer reach and enhance volume sales. Likewise, in 2020 Good Leaf Farms initiated its plan to expand its capacity by developing a 74000 sq. Ft. indoor vertical farm, the construction of which is expected to conclude by end of 2022. In December 2020, a partnership was signed between AEroFarms and Precision Indoor Plants for lettuce. Focus of this partnership was to use indoor agriculture technology and science to enhance shelf life of lettuce. This is expected to provide better marketable food for individuals alternatively offering high profit margins for farmers with less wastage.
A few of the major companies involved in the production, and distribution of microgreens are Farmbox Greens Inc., Living Earth Farms, AeroFarms, Good Leaf Farms, Chef’s Garden, Fresh Origins, Teshuva Agricultural Projects Ltd., Gotham Greens, and Bowery Farming.
The global microgreens market is segmented as below:
By Farming Method
By End User
Key Elements Included In The Study: Global Microgreens Market
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