In recent years, interest in micro-plants has grown significantly, and the global market for these edible plants has experienced impressive development. According to a new report published by Allied Market Research, the global microplant market, valued at $1.3 billion in 2019, is expected to reach $2.2 billion by 2028, with a CAGR of 11.1% during the period 2021-2028.
Key Factors Supporting Market Growth:
The adoption of Internet of Things (IoT) technology in agriculture and agricultural mechanization is promoting growers to grow high-value crops, which directly supports the growth of the microgreens market. Also, indoor vertical farming methods and greenhouses are specifically used for growing microgreens, as they require intensive care and a controlled environment. Favorable temperature and humidity for healthy growth of microgreens are between 18 and 24°C and between 40 and 60% humidity respectively. Therefore, the protected crop is predominantly used.
Market segmentation:
The microgreens market is segmented on the basis of type, cultivation method, end user, and region. Types of microgreens include broccoli, arugula, peas, radishes, basil, and others. In terms of cultivation methods, the market is segmented into indoor vertical farming, commercial greenhouses, and others. End users include the retail, foodservice and other segments.
Market Outlook in Europe:
Europe is witnessing solid growth in the microgreens market with a CAGR of 9.7% during 2021-2028. The region is enjoying significant development due to the adoption of IoT technology in agriculture and government support to farmers for building greenhouses and protected crops. In particular, start-ups in Europe dealing with the production and sale of microgreens have considerably supported the growth of this market.
The global microgreens market is continuously expanding, with Europe as one of its major contributors to market growth. Consumers around the world have become increasingly aware of the health benefits of microgreens, which has boosted demand for these nutrient-dense greens.
Source: Allied Market Research, 24 July 2023
