Creating Derived Product, A Savior To Indoor Farms?
Every Wednesday, discover an editorial on a relevant and important topic related to indoor farming.
Good morning readers, growers in Europe and in the UK are stopping their winter crops as the current cost to grow far exceeds the potential retail price. Some have even closed down as they cannot cope with the debts and costs incurred. Certain growers have nonetheless been able to enhance their produce and create derivatives to retail it at higher prices and thus increase their revenues as well as product portfolio.
According to Statista revenues in the Sauces & Condiments segment amount to USD 28.93Bn in 2022. The market is expected to grow annually by 2.75% (CAGR 2022-2027) with opportunities such as adult consumers under 45 seeking condiments with restaurant-centric flavors, according to Nielsen research.
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