Canada Microgreens Market To Reach $168.6 Million By 2028, Growing At 10.9% CAGR

(MENAFN- EIN Presswire)

Canada Microgreens Market

Health Trends and Technological Advances Drive market Expansion

WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATES, June 13, 2024 /EINPresswire / -- According to the report, the Canada microgreens market was pegged at $99.3 million in 2019, and is expected to reach $168.6 million by 2028, growing at a CAGR of 10.9% from 2021 to 2028. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

Surge in population, increase in health and wellness trend among target customers, and changes in lifestyle and food habits drive the growth of the Canada microgreens market. On the other hand, lack of skilled workforce to operate microgreen farming and high investment costs, owing to deployment of expensive systems in microgreen farming impede the growth to some extent. However, rise in adoption of vertical farming and increase in social media marketing are expected to create lucrative opportunities in the industry.

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The Canada microgreens market is analyzed across type, farming, and end user. Based on type, the broccoli segment accounted for more than one-fifth of the total market share in 2019, and is expected to retain its dominance by 2029. The cress segment, however, would register the fastest CAGR of 18.5% from 2021 to 2028.

Moreover, in Canada microgreen industry there is an increase in adoption smartphones and other mobile devices among farmers, which provides farmers with latest development in the field of agriculture. In addition, farmers depend on broadband and other wireless technologies to catch the latest news in their field of interest and participate in practical knowledge sharing initiatives in the microgreens industry. Wide spread of internet has made agriculture resources available in a wide range of local languages, which help farmers gain awareness regarding various skills in the microgreens industry and boost growth of the Canada microgreens market. Advancements in farming technologies directly favor growth of the microgreens market, and is expected to further drive growth of the market during the forecast period. Indoor vertical farming is suitable and majorly used for cultivation of microgreens. It can be integrated with multiple technologies such big data analytics, robotics, internet of things, and artificial intelligence so that microgreens can be intensively monitored, controlled, and grown well without any agronomic constraint, all such factors results in Canada microgreen market trends.

In the past few years, many countries along with Canada have recognized lifestyle-related diseases to be the main problem for health-related issues, which has led to a rise in health consciousness among consumers. A rise in consumer awareness regarding health benefits associated with microgreen food products such as benefits against chronic diseases to promote optimal health, longevity, and quality of life fuels the demand for the microgreen market. A rise in the aging population, an increase in life expectancy rates, and growth in instances of chronic diseases have changed the eating patterns of consumers.

However, one of the major factors that restrict growth of microgreens farming is the heavy investment required for deployment of different components in agriculture. In addition, microgreen farming uses different methods to deliver passive medium and nutrient solutions in plant roots, which is more expensive than other agriculture methods. Moreover, indoor vertical farming involves various machinery, lighting, automatic systems, and temperature controlling units, which are very expensive. In addition, high capital investments required for adopting smart solutions to produce microgreen crops is a serious challenge for farmers, which hampers growth of the market.

📍Analysis on the Canada Microgreens Market @

COVID-19 was declared a pandemic by the World Health Organization (WHO) on March 11, 2020. The outbreak of coronavirus has significantly impacted the microgreens industry along with all stages of supply chain and value chain such as labor and production inputs for farm, national, and international transport of food and other essentials. COVID-19 has further affected the consumer behavior with regards to purchasing microgreens products globally. Ultimately, decline in cultivation output as a consequence of labor and raw material shortage and partial operations led to decline in the Canada microgreens market.

Based on farming, the indoor vertical farming segment contributed to more than three-fifths of the total market revenue in 2019, and is anticipated to lead the trail by 2028. The same segment would also cite the fastest CAGR of 11.1% from 2021 to 2028. The report includes analysis of the commercial greenhouse and others segment.

Based on end user, the food service segment held the major share in 2019, generating nearly three-fifths of the Canada microgreens market. The retail segment, simultaneously, is projected to grow at the fastest CAGR of 11.7% during the forecast period.

The leading market players analyzed in the Canada microgreens market include Bowery Farming Inc., Charlie's Produce, Fresh Origins, GoodLeaf Farms, Gotham Greens, Living Earth Farm, Madar Farms, The Chef's Garden Inc., AeroFarms, and Teshuva Agricultural Projects Ltd. These market players have incorporated different strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.

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