Global Asparagus Market

Description

Market Overview

The global asparagus market reached US$ 2,129.1 million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is expected to exhibit a CAGR of 5.5% during the forecast period (2023-2030).

Due to its high concentration of beneficial micronutrients, asparagus has a number of health advantages. Glutathione, a substance that fights cancer, is present in asparagus. Asparagus is a rich source of rutin, which supports the health of blood vessels. Since asparagus has the highest concentration of folacin of any vegetable, eating it can help protect newborns from neural tube defects. Chromium, which aids insulin in transporting glucose into cells, is also present in asparagus. According to World Vegetable Center, asparagus production is increasing in many African countries, such as Cameroon, Tanzania, and Zambia. These countries are expanding their asparagus acreage to meet the increasing demand for the vegetable, particularly in export markets.

Market Dynamics

The increasing demand for organic asparagus

According to the Peruvian Asparagus Importer's Association, organic asparagus cultivation is still in its infancy in Peru. As the world's second-largest producer of asparagus, Peru is steadily expanding its export-driven organic cultivation. Moreover, growers who supply the United States with organic asparagus are mainly located in central Mexico. One such grower is Pampa Store, which in 2022 purchased 402 ha of land in Mexico's northeastern region, which borders the American state of Texas. The Los Angeles Wholesale Produce Market in February 2022 charged USD 66.41-68.04 for a case of organic asparagus weighing 11 pounds and produced in Mexico, or roughly USD 6.0 per pound wholesale price, according to the Organic Produce Network which can be attributed to the price of the vegetable being sold year-round on market shelves.

COVID-19 Impact Analysis

According to a report by the Food and Agriculture Organization of the United Nations (FAO), the COVID-19 pandemic caused disruptions in global supply chains, which affected the availability of asparagus in some regions. The report notes that the restrictions on international trade and transportation caused by the pandemic made it difficult for some farmers to export their crops. On the other hand, according to data from the United States Department of Agriculture (USDA), the COVID-19 pandemic led to a shift in demand for asparagus in the United States. In 2020, there was an increase in demand for fresh asparagus as more consumers cooked at home due to restaurant closures and social distancing measures. The USDA also notes that demand for canned and frozen asparagus decreased due to the closure of many food service establishments.

Segment Analysis

The global asparagus market is segmented based on type, variety, application, distribution channel and region.

Fresh asparagus segment accounted for the highest share of the global asparaguss market

The fresh asparagus segment held a dominant position in the global asparagus market with approximately 42% in 2022 due to its high preference over canned and frozen counterparts. While the shelf life of fresh asparagus can be extended through various methods such as pickling or adding preservatives, it remains a popular vegetable for ready-to-eat foods, including mixed vegetables and chicken preparations. The growing demand for fresh asparagus in pickled and brine forms, soups, and sauces is anticipated to fuel revenue growth of the fresh asparagus segment in the global market. These developments indicate a positive trend for the consumption of fresh asparagus in various food products.

Geographical Analysis

Europe holds the major share in the global asparagus market

According to the Eurostat database, the European Union (EU) produced 436,940 tons of asparagus in 2022, with the largest producers being Spain, Germany, and Greece. Spain alone accounted for 36% of the total EU production. In terms of consumption, the latest available data from Eurostat shows that in 2021, the EU consumed 252,000 tons of asparagus, with Germany, France, and the United Kingdom being the largest consumers. Asparagus is a popular vegetable in Europe, and its consumption is likely to continue to grow in the coming years due to increasing demand for healthy and organic foods. However, weather conditions and trade policies can affect asparagus production and supply in Europe.

Competitive Landscape

The major global players in the market include Altar Produce, Limgroup B.V, Thiermann GmbH & Co. KG, Teboza B.V., ILIOS, Jersey Asparagus Farms, Inc., Walker Brothers, Inc., Apo Foggia, Mazzoni S.p.A., and Global Plant Genetics Ltd.

Why Purchase the Report?

To visualize the global asparagus market segmentation based on type, variety, application, distribution channel and region, as well as understand key commercial assets and players.
Identify commercial opportunities by analyzing trends and co-development.
Excel data sheet with numerous data points of asparagus market-level with all segments.
PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
Product mapping available as Excel consisting of key products of all the major players.

The global asparagus market report would provide approximately 69 tables, 71 figures and 195 Pages.

Target Audience 2023

Manufacturers/ Buyers
Industry Investors/Investment Bankers
Research Professionals
Emerging Companies

Product Code: FB4177

1. Methodology and Scope

1.1. Research Methodology
1.2. Research Objective and Scope of the Report

2. Definition and Overview

3. Executive Summary

3.1. Snippet by Type
3.2. Snippet by Variety
3.3. Snippet by Application
3.4. Snippet by Distribution Channel
3.5. Snippet by Region

4. Dynamics

4.1. Impacting Factors
- 4.1.1. Drivers
  - 4.1.1.1. Growing interest in asparagus due to the variety of health benefits
  - 4.1.1.2. The increasing demand for organic asparagus
- 4.1.2. Restraints
  - 4.1.2.1. The relative weak product distribution through direct marketing
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis

5. Industry Analysis

5.1. Porter's Five Forces Analysis
5.2. Supply Chain Analysis
5.3. Pricing Analysis
5.4. Regulatory Analysis

6. COVID-19 Analysis

6.1. Analysis of COVID-19
- 6.1.1. Before COVID-19 Scenario
- 6.1.2. Present COVID-19 Scenario
- 6.1.3. Post COVID-19 or Future Scenario
6.2. Pricing Dynamics Amid COVID-19
6.3. Demand-Supply Spectrum
6.4. Government Initiatives Related to the Market During Pandemic
6.5. Manufacturers Strategic Initiatives
6.6. Conclusion

7. By Type

7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 7.1.2. Market Attractiveness Index, By Type
7.2. Frozen *
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
7.3. Canned
7.4. Fresh

8. By Variety

8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Variety
- 8.1.2. Market Attractiveness Index, By Variety
8.2. Green *
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
8.3. Purple
8.4. White
8.5. Wild
8.6. Specific
8.7. Others

9. By Application

9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 9.1.2. Market Attractiveness Index, By Application
9.2. Food *
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
9.3. Pharmaceuticals
9.4. Others

10. By Distribution Channel

10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 10.1.2. Market Attractiveness Index, By Distribution Channel
10.2. Supermarkets/Hypermarkets *
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
10.3. Pharmacies
10.4. Grocery Stores
10.5. Vegetable Stores
10.6. Others

11. By Region

11.1. Introduction
- 11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 11.1.2. Market Attractiveness Index, By Region
11.2. North America
- 11.2.1. Introduction
- 11.2.2. Key Region-Specific Dynamics
- 11.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Variety
- 11.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 11.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 11.2.7.1. The U.S.
  - 11.2.7.2. Canada
  - 11.2.7.3. Mexico
11.3. Europe
- 11.3.1. Introduction
- 11.3.2. Key Region-Specific Dynamics
- 11.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Variety
- 11.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 11.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 11.3.7.1. Germany
  - 11.3.7.2. The U.K.
  - 11.3.7.3. France
  - 11.3.7.4. Italy
  - 11.3.7.5. Spain
  - 11.3.7.6. Rest of Europe
11.4. South America
- 11.4.1. Introduction
- 11.4.2. Key Region-Specific Dynamics
- 11.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Variety
- 11.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 11.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 11.4.7.1. Brazil
  - 11.4.7.2. Argentina
  - 11.4.7.3. Rest of South America
11.5. Asia-Pacific
- 11.5.1. Introduction
- 11.5.2. Key Region-Specific Dynamics
- 11.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Variety
- 11.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 11.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 11.5.7.1. China
  - 11.5.7.2. India
  - 11.5.7.3. Japan
  - 11.5.7.4. Australia
  - 11.5.7.5. Rest of Asia-Pacific
11.6. Middle East and Africa
- 11.6.1. Introduction
- 11.6.2. Key Region-Specific Dynamics
- 11.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Variety
- 11.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel

12. Competitive Landscape

12.1. Competitive Scenario
12.2. Market Positioning/Share Analysis
12.3. Mergers and Acquisitions Analysis

13. Company Profiles

13.1. Altar Produce*
- 13.1.1. Company Overview
- 13.1.2. Product Portfolio and Description
- 13.1.3. Financial Overview
13.2. Limgroup B.V
13.3. Thiermann GmbH & Co. KG
13.4. Teboza B.V.
13.5. ILIOS
13.6. Jersey Asparagus Farms, Inc.
13.7. Walker Brothers, Inc.
13.8. Apo Foggia
13.9. Mazzoni S.p.A.
13.10. Global Plant Genetics Ltd

LIST NOT EXHAUSTIVE

14. Appendix

14.1. About Us and Services
14.2. Contact Us

Global Asparagus Market - 2023-2030