Microgreens Market to grow at a CAGR of 11.1% during 2024-2028
The Microgreens Market is expected to grow at a CAGR of 11.1% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 986.03 million. In the contemporary business landscape, urban farming of microgreens has experienced significant growth due to its environmental sustainability and local sourcing benefits. By cultivating microgreens on-site, the carbon footprint of food production and transportation is substantially reduced, resulting in lower greenhouse gas emissions. This eco-friendly approach aligns with the global consumer trend toward sustainability and appeals to eco-conscious buyers. Additionally, local spending has emerged as a critical factor in consumer decision-making. Microgreens, which are fresh, high-quality, and traceable, are increasingly preferred due to the economic advantages of supporting local growers and businesses.
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Technavio analysts predict that the Indoor vertical farming subsegment will lead the Type segment during 2024 and 2028 Indoor vertical farming, a innovative agricultural approach, has gained significant traction in recent years due to its resource-efficient methods and high yield. Two prominent techniques in this sector are hydroponics and aeroponics, both of which eliminate the need for soil. Hydroponics utilizes nutrient-dense water solutions, while aeroponics cultivates plants in a mist-infused environment. These methods reduce environmental impact and optimize resource usage, making them attractive alternatives to conventional farming. Gotham Greens, a leading urban agriculture company, is a prime example of indoor vertical farming vendors. They operate hydroponic greenhouse facilities in New York City and Chicago, producing a diverse range of microgreens year-round to cater to the increasing demand for locally sourced, fresh produce. By implementing these advanced farming techniques, Gotham Greens demonstrates its commitment to sustainable agriculture and innovation within the industry.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish increasing health awareness among public
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The microgreens market is experiencing a surge in demand from various industries, including skincare and food. Microgreens-based oils are now being used in high-end skincare products due to their rich nutrient content and unique health benefits. Shampoos infused with microgreens provide nourishment to the scalp and promote healthy hair growth. Microgreens growers are thriving as culinary enthusiasts and health-conscious individuals seek out premium food products with vibrant colors and unique taste profiles. Online stores and retail outlets are stocking up on microgreens-based products, including microgreens-infused oils, as consumer interest continues to grow. Commercial greenhouse farming, indoor cultivation, and indoor vertical farming have become essential for microgreens production. Microgreens such as cauliflower, cabbage, peas, radish, sunflower, carrots, fennel, basil, arugula, chicory, lettuce, broccoli, and more are being grown in controlled environments to ensure optimal nutrient content and consistent quality. The microgreens market offers a diverse range of options for consumers, from shampoos and skincare products to culinary delights. Whether you're a health-conscious individual or a culinary enthusiast, microgreens are a nutrient-rich addition to your daily routine. With the convenience of online stores and retail outlets, it's easier than ever to incorporate microgreens into your lifestyle.
The microgreens market represents a burgeoning business opportunity for entrepreneurs and investors. These nutrient-dense, young plant shoots offer numerous health benefits and are gaining popularity among health-conscious consumers. With increasing demand for locally grown, sustainable, and organic produce, the microgreens industry is poised for significant growth. Market research indicates a compound annual growth rate of 13.3% from 2021 to 2028, making it a lucrative investment for businesses focused on agriculture, food production, and health and wellness.
The Microgreens Market is experiencing significant growth, fueled by the increasing health awareness among public. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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