Artichokes Market

Global Artichokes Market Size (2024 To 2029)

The size of the global artichokes market is expected to be worth USD 2.83 billion in 2024 and grow at a CAGR of 2.34% from 2024 to 2029 to achieve USD 3.18 billion by 2029.

Artichoke, which is scientifically known as Cynara cardunculus, is a large thistle-like plant known for its tender, fleshy leaves and a heart-shaped core called". It belongs to the aster family, which is cultivated for its edible flower buds. It is native to western and central Mediterranean and North Africa. They have a mild, nutty flavor with a slightly sweet taste and are prepared in various ways, including steaming, boiling, roasting, or grilling. They are commonly used in salads, dips, and as a topping for pizzas. Also, artichokes have a high nutritional profile, are low in calories, and are good sources of dietary fiber, vitamin C, vitamin K, folate, potassium, magnesium, and antioxidants. Consuming artichokes improves digestive health, lowers cholesterol levels, regulates blood sugar, and supports liver function. Additionally, artichokes have anti-inflammatory properties, which help in arthritic conditions. There are different varieties of artichokes, such as the Green Globe, Purple Romagna, and Violet de Provence. Each variety may have slightly different characteristics in terms of size, color, and taste. Some popular dishes featuring artichokes include stuffed artichokes, artichoke soup, grilled artichokes, and artichoke hearts in salads or pasta dishes.

MARKET DRIVERS

One of the major factors driving the artichokes market is the increasing awareness of the health benefits of artichokes among consumers, as artichokes are known for their potential source of fiber, potassium, magnesium, folate, vitamin C, and antioxidants. The presence of vitamins, minerals, and antioxidants promotes healthy digestion, maintains heart health, serves muscle and nerve function, maintains the immune system, and protects cells from damage. As people are becoming conscious about health and their dietary choices, there is a rise in the incorporation of artichoke in various dishes such as pasta, sauces, and soups. In addition, artichokes are affordable and easy-to-find food, which makes it an ideal option for people looking for healthy food option. Along with this, there is growing popularity of Mediterranean cuisine, as Mediterranean cuisine is known for its use of fresh, healthy ingredients, such as fruits, vegetables, whole grains, and olive oil, and artichokes are a popular ingredient in Mediterranean cuisine. Artichokes are a popular ingredient in Mediterranean cuisine, and they are often used in salads, pasta dishes, and stews. Also, there is increasing awareness of the health benefits of Mediterranean foods among people. Most of the Mediterranean cuisine is plant-based diet, which perfectly aligns with consumers having a vegan and vegetarian diet. Furthermore, the availability of Mediterranean ingredients in supermarkets and restaurants, as the growing popularity of the Mediterranean grows, is leading to the increase in the artichokes market size.

MARKET RESTRAINTS

One of the major restraining factors affecting the growth of the artichokes market is seasonal variability, as artichokes are seasonal crops, and it is available only for a limited time of a year. Since the growing season for artichokes typically starts in the spring and ends in the fall. This leads to fluctuations in supply and prices, as demand for artichokes tends to be higher during the winter months. Moreover, artichoke cultivation is sensitive to weather conditions. Adverse weather conditions, such as frost, excessive rainfall, or drought, can damage crops and reduce yields. This leads to shortages and higher prices for artichokes, affecting the sales of artichokes and reducing the artichokes market demand. These pests and diseases lead to decreased yields and quality. Managing these issues requires effective pest control measures, which increase production costs and affect environmental flora and fauna. Hence, these limiting factors are affecting the artichoke's market share.

MARKET OPPORTUNITIES

The artichokes market is still relatively small in some parts of the world, such as Asia and Africa. It has created a lot of potential for growth in the artichokes market. Hence, manufacturers and retailers can leverage this opportunity by introducing artichokes to consumers in these regions, by partnering with local distributors and retailers, and by conducting marketing campaigns that promote the health benefits of artichokes. Food manufacturers can develop new products that contain artichokes, such as artichoke-based beverages, artichoke-flavored snacks, and artichoke-infused cosmetics, to increase the artichokes market demand. Consumers are interested in the health benefits of foods. Food manufacturers and retailers can promote the health benefits of artichokes with growing awareness about the health benefits of artichokes and by running social media campaigns that highlight these benefits. Moreover, manufacturers can also partner with health experts to educate consumers about the health benefits of artichokes. Overall, these opportunities can fuel the artichokes market size.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Artichokes Market Analysis By Form

Based on the form, the artichokes market is divided into frozen, fresh, and canned. The fresh segment accounted for the highest market share because fresh artichokes are the most traditional and popular form of artichoke, and they have more flavor and tenderness as compared to frozen or canned artichokes. Frozen artichokes have the fastest growth rate during the forecast period due to the increasing demand for convenience foods since frozen artichokes can be stored for long periods without losing their flavor or nutritional value. Whereas the canned segment has a low market share, as it is used mostly by consumers who want an easy and quick way to prepare artichokes

Global Artichokes Market Analysis By End-use

Based on the end-user, the artichokes market is divided into food and beverages, pharmaceuticals, personal care, and cosmetics. The food and beverage segment dominates the market and has the highest market share; due to its versatility, artichokes are used as a popular ingredient in many dishes, such as salads, dips, pasta dishes, and pizzas. They are also used as a flavoring in sauces and seasonings. In addition, the increasing demand for healthy and nutritious food is also causing the market demand for artichokes in the food and beverage sector. The pharmaceutical has the highest market share next to Food & beverages segment since artichokes are used in traditional medicine to treat a variety of ailments, such as liver problems, high cholesterol, and digestive disorders. Along with this, the increasing research on the health benefits of artichokes is also driving the growth of the pharmaceutical segment. At the same time, personal care and cosmetics have significant market growth due to their use in skin care products to have anti-inflammatory and antioxidant properties.

REGIONAL ANALYSIS

Europe has the highest market share as it is the largest producer and consumer of artichokes in the world. Countries like Italy, Spain, and France are the major producers of artichokes, and they also account for a significant portion of the market demand. Moreover, the increasing awareness of the health benefits of artichokes, such as their high fiber content and antioxidants, is also causing the increase in the artichokes market growth in Europe. North America is following Europe in holding the highest shares of the market as the United States and Canada are the major consumers of artichokes in North America. Also, the increasing demand for Mediterranean cuisine in North America led to the artichokes market growth. Asia Pacific has significant market growth for artichokes. Countries such as China, India, and Japan are the major consumers of artichokes in Asia Pacific. Along with this, the increasing demand for healthy and nutritious food propelled the artichokes market demand. Whereas Latin America, the Middle East, and Africa have a low market share as compared to other regions because of low awareness of the health benefits of artichokes and the limited availability of artichokes.

KEY PLAYERS IN THE GLOBAL ARTICHOKES MARKET

Major key players in the global artichokes market are Ocean Mist Farms, Caprichos del Paladar S.L.U, Anklam Extrakt GmbH, Agro T18 Italia Srl, Gaia Herbs Inc, Master Fruit Srl, The Sa Marigosa Op, Herrawi Group and Others.

RECENT HAPPENINGS IN THE MAKET

• In September 2021, Waphyto, a Japanese botanicals company, introduced three body oils, each containing formulation with extracts from artichoke leaf. These products were specifically designed for use during the winter months and are named Enhance Body Oil, Balance Body Oil, and Unwind Body Oil.
• In August 2021, Enzymedica, a health and wellness company headquartered in the United States, launched a nutraceutical blend known as Gut Mobility. This formulation incorporates artichoke leaf extract, apple cider vinegar, and ginger root CO2 extract. The product is designed to promote a healthy digestive process, including improved digestive transport and more efficient stomach emptying.

DETAILED SEGMENTATION OF THE GLOBAL ARTICHOKES MARKET INCLUDED IN THIS REPORT

This research report on the global artichokes market has been segmented and sub-segmented based on form, end-use, and region.

By Form

• Frozen
• Fresh
• Canned

By End-use

• Food & Beverages
• Pharmaceuticals
• Personal Care & Cosmetic

By Region

• North America
• Europe
• The Asia Pacific
• Latin America
• The Middle East and Africa