Artichokes Global Market Report 2024

Artichokes, classified as a type of thistle and recognized for their unique appearance and taste, are flower buds that can be prepared in various culinary ways. Rich in fiber, vitamins, and antioxidants, artichokes offer multiple health benefits, including support for weight management, treatment of fatty liver disease, cardiovascular health, and immune system function.

There are several main types of artichokes, each with its own distinct characteristics. Examples include Baby Anzio, Big Heart, Green Globe, Siena, Mercury, Omaha, Fiesole, Chianti, among others. Baby Anzio, for instance, is a smaller artichoke known for its tender, firm leaves, compact florets, and blushing violet and pistachio green tones. This variety is often used in culinary applications such as salads, dips, and appetizers, thanks to its mild and delicate flavor. Artichokes are available in various forms, including fresh, frozen, and canned, with options such as organic and conventional varieties. These versatile ingredients find applications in medical research, liqueur production, herbal tea, cooking, personal care products, dietary supplements, and more. They can be used directly for consumption, in food processing, beverage production, and various other applications.

The artichokes market research report is one of a series of new reports from The Business Research Company that provides artichokes market statistics, including artichokes industry global market size, regional shares, competitors with an artichokes market share, detailed artichokes market segments, market trends and opportunities, and any further data you may need to thrive in the artichokes industry. This artichoke market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The artichokes market size has grown steadily in recent years. It will grow from $3.06 billion in 2023 to $3.19 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth observed in the historical period can be attributed to several factors, including a culinary renaissance that led to a renewed interest and innovation in cooking, regional shifts in agriculture influencing the availability of diverse ingredients, heightened awareness of health and nutrition, increased import-export trade facilitating access to a variety of food products, and the integration of cultural influences in culinary practices.

The artichokes market size is expected to see steady growth in the next few years. It will grow to $3.69 billion in 2028 at a compound annual growth rate (CAGR) of 3.7%. The anticipated growth in the forecast period can be attributed to several factors, including a focus on health and wellness, the adoption of sustainable agriculture practices, strategic market expansion initiatives, and the exploration of innovative culinary applications. Key trends expected during this period encompass the growing appeal of functional foods, the rise of processed and convenient food products, the popularity of artisanal and specialty varieties, an emphasis on traceability and transparency in the supply chain, and the utilization of artichoke by-products in various applications.

Anticipated growth in the artichoke market is directly linked to the increasing consumption of healthy and nutritious foods. These foods are characterized by supplying essential nutrients, vitamins, and minerals necessary for optimal bodily functions, promoting overall health and well-being without reliance on additional nutritional supplements. Artichokes, known for their high antioxidant content, rich fiber profile, and abundant concentrations of vitamins B1, C, as well as minerals such as phosphorus, magnesium, iron, calcium, potassium, and niacin, are favored by health-conscious individuals. These nutritional attributes offer various potential health benefits, including cholesterol regulation, diabetic management, detoxification, anti-carcinogenic properties, antioxidative effects, antiviral and antibacterial properties, among others. For instance, findings from the Food and Health Survey 2022 by the International Food Information Council, a US-based non-governmental organization, indicated that approximately 52% of Americans followed a healthy dietary pattern in 2022, marking a notable increase from 39% in 2021. Thus, the growing preference for healthy and nutritious foods is propelling the artichoke market.

The projected growth of the artichoke market is attributed to the rising trend of health consciousness among consumers. Health consciousness signifies an individual's increased awareness and concern for their overall health and well-being. As a vegetable that aligns with the preferences of health-conscious individuals seeking natural and nutrient-dense dietary options, artichokes are gaining traction. For example, according to Business DIT, a UK-based resource for business and digital marketing, health-conscious customers constitute approximately 25-30% of all grocery customers in the US and Europe as of August 2023. Consequently, the upward trend in health consciousness is a driving force behind the expansion of the artichoke market.

Product innovation stands as a prominent and increasingly favored trend within the artichoke market. Notably, major companies within this market segment are directing their attention towards pioneering products to maintain their competitive edge. A case in point occurred in April 2023, when L'Occitane, a skincare company based in France, introduced the Artichoke body care range. This product line was developed to provide various skincare benefits, notably purifying and detoxifying effects. Leveraging the high polyphenol and inulin content, L'Occitane's artichoke body care range harnesses diuretic properties, aids in fat digestion, and contributes to fighting cholesterol. Furthermore, these products stimulate microcirculation, thereby enhancing skin plumpness and elasticity.

Prominent entities operating within the artichoke market are actively pursuing innovative product development to maintain their market position. An illustrative example occurred in May 2021, when Roth Cheese, a US-based food and beverage company, unveiled a new Gouda cheese infused with the flavors of delightful spinach artichoke dip. The selection of Gouda resulted from a nationwide consumer vote titled 'Choose Our Next Cheese,' showcasing consumers' dedicated interest in this flavorful combination. Gouda, known for its rich flavors that harmonize perfectly with the Spinach Artichoke blend, was chosen not only for its taste profile but also due to its immense popularity. Domestically, Gouda constitutes 60% of cheese sales in the United States, signifying its status as a beloved choice among American consumers.

In January 2023, Fresh Express Incorporated, a subsidiary of Chiquita Holdings Limited, a UK-based food production company, successfully acquired Dole Plc's fresh vegetable division in a deal valued at approximately $293 million. This strategic move is designed to enhance the product portfolio of both entities, particularly under the Fresh Express brand. Dole Plc, the seller in this transaction, is an Ireland-based agricultural production company engaged in the growth, sourcing, packing, shipping, marketing, and distribution of a diverse range of fresh produce, which includes products such as artichokes.

Major companies operating in the artichokes market report are Naturipe Farms LLC., General Mills Inc., Caprichos del Paladar S.L.U., Green Giant, Agro T18 Italia S.r.l., Master Fruit Srl., Herrawi Group, Societa Semplice Agricola F.lli Piras, Green Globe Produce Inc., D'Arrigo Bros. Co., Agroittica Lombarda, Mitica Fine Foods Ltd., Bonduelle, Del Monte Foods Inc., Dole Food Company Inc., Goya Foods Inc., Calavo Growers Inc., Hortifrut SA, Ready Pac Produce Inc., Danper Trujillo S.A.C, Florette, F. DIVELLA S.p.A, Grimmway Farms, Sun World International LLC., Ocean Mist Farms, VoloAgri Group Inc., Jawahara Food Group, Sirri Ustundag, Al Jawhara Group, Agricor Inc.

Europe was the largest region in the artichokes market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artichokes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the artichokes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The artichoke market consists of sales of an imperial star, tempo, colorado star, emerald, purple Italian Globe, purple Romagna, Tavor, violet de Provence, and Violetta di Chioggia. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Artichokes Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on artichokes market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for artichokes ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The artichokes market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Product Type: Baby Anzio; Big Heart; Green Globe; Siena; Mercury; Omaha; Fiesole; Chianti; Other Product Types
• 2) By Form: Fresh; Frozen; Canned
• 3) By Origin: Organic Artichokes; Conventional Artichokes
• 4) By Application: Medical Research; Liqueur; Herbal Tea; Cooking; Personal Care; Dietary Supplements; Other Applications
• 5) By End-Use: Direct Consumption; Food Processing; Beverage Processing; Other End-Uses
• Companies Mentioned: Naturipe Farms LLC.; General Mills Inc.; Caprichos del Paladar S.L.U.; Green Giant; Agro T18 Italia S.r.l.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.