Microgreens Market are Revolutionizing Organic Farming Globally by High Nutritional Profiles
Microgreens refer to young greens that are typically harvested at the seedling stage, just after germination and before true leaves form. Microgreens offer significant nutritional advantages over mature greens as they are packed with vitamins, minerals, phytonutrients and antioxidants. Some of the popular microgreen varieties include broccoli, beetroot, kale and arugula. They are gaining immense popularity among health-conscious consumers as low-calorie, nutrient-dense superfoods.
Global microgreens market is estimated to be valued at USD 3.71 Bn in 2024 and is expected to reach USD 7.38 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 10.3% from 2024 to 2031.
Key Takeaways
Key players operating in the Microgreens are AeroFarms, Fresh Origins, Gotham Greens, Good Leaf Farms, Living Earth Farms, Farmbox Greens, Chef’s Garden, Bowery Farming, Teshuva Agricultural Projects Ltd., Madar Farms, and Metro Microgreens.
Microgreens contain 2-6 times higher concentrations of vitamins, minerals and antioxidants than mature vegetables. Their nutritional content makes them highly beneficial for boosting one's health and immunity. The global Microgreens Market Demand is increasing at an exponential rate owing to rising health consciousness and preference for organic foods among consumers. Several microgreen farmers are expanding their business globally and entering new geographies to cater to the burgeoning demand.
Market key trends
Indoor vertical farming of microgreens is gaining traction worldwide due to the year-round availability of crops irrespective of seasons. vertial microgreens farms utilize various controlled environment agriculture techniques like hydroponics, aeroponics and aquaponics to grow crops in stacked trays, close together, with artificial lighting and climate control. This ensures higher yields with minimal usage of water and land resources. Indoor microfarms can be located anywhere including urban settings closer to the demand centers. Rapid global expansion of indoor vertical microgreen farms is expected to be one of the key trends in the coming years.
Porter's Analysis
Threat of new entrants: The microgreens market requires low initial investment and specialized skills which makes the entry of new players easier. However, established brands attract major buyers which act as a barrier.
Bargaining power of buyers: Large buyers such as supermarkets and restaurants have high bargaining power whereas individual buyers have low bargaining power due to availability of substitutes.
Bargaining power of suppliers: The microgreens market has multiple small suppliers but their individual bargaining power is low against established buyers due to perishable nature of products.
Threat of new substitutes: Products such as sprouts and fresh herbs pose potential threat. However, microgreens appeal as a premium option requiring low preparation.
Competitive rivalry: The market consists of small localized players vying for shelf space in stores and supplier contracts. Brand positioning and differentiation play key roles.
Geographical regions of concentration
North America dominates the microgreens market currently holding around 50% value share globally led by United States. This is attributed to growing health consciousness and popularity of mixed greens in dishes.
Fastest growing region
The Asia Pacific region is expected to be the fastest growing market for microgreens during the forecast period due to rising disposable incomes, westernization of diet and increasing supermarkets in countries like China and India creating demand.
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About Author:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
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