According to the report, the Canadian 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 Canadian microgreens market. On the other hand, lack of skilled workers 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.
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 the Canadian microgreen industry, there is an increase in the adoption smartphones and other mobile devices among farmers, which provides farmers with the latest developments 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. The wide spread of the internet has made agriculture resources available in a wide range of local languages, which helps farmers gain awareness regarding various skills in the microgreens industry and boosts the growth of the Canadian microgreens market. Advancements in farming technologies directly favor the growth of the microgreens market and are expected to further drive the growth of the market during the forecast period. Indoor vertical farming is suitable and is mostly used for the cultivation of microgreens. It can be integrated with multiple technologies such as big data analytics, robotics, the internet of things, and artificial intelligence so that microgreens can be intensively monitored, controlled, and grown well without any agronomic constraint. All such factors result in Canadian microgreen market trends.
However, one of the major factors that restricts the growth of microgreen farming is the heavy investment required for the deployment of different components in agriculture. In addition, microgreen farming uses different methods to deliver passive medium and nutrient solutions to plant roots, which is more expensive than other agriculture methods. Moreover, indoor vertical farming involves various machinery, lighting, automatic systems, and temperature-control units, which are very expensive. In addition, the high capital investments required for adopting smart solutions to produce microgreen crops are a serious challenge for farmers, which hampers the growth of the 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 the 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 consumer behavior with regards to purchasing microgreens products globally. Ultimately, a decline in cultivation output as a consequence of labor and raw material shortages and partial operations led to a decline in the Canadian 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 other segments.
Based on end user, the food service segment held the major share in 2019, generating nearly three-fifths of the Canadian microgreens market. The retail segment, simultaneously, is projected to grow at the fastest CAGR of 11.7% during the forecast period.
