Portland, OR, June 14, 2022 (GLOBE NEWSWIRE) -- 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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Covid-19 scenario-
- The disrupted supply chain, during the Covid-19 pandemic, impacted the Canada microgreens market negatively.
- However, the market is recovering steadily.
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.
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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.
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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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