Asparagus Market

Global Asparagus Market Size (2024 to 2032)

The Global Asparagus Market size is assessed to be USD 3.10 billion in 2024, and it is to reach a valuation of USD 4.65 billion by 2032 at a remarkable CAGR 5.21% during the envisioned time. The wide application of asparagus is an important driver of market growth.

Asparagus, also known by its scientific name, Asparagus opinari, is a green leafy vegetable with a long, pointed spear. It is basically grilled, broiled, and steamed. It is a spring vegetable and is grown mainly in Michigan, California, and Washington. It is currently produced in temperate regions around the world. The production of asparagus for commercial purposes started in the middle of the 19th century. Asparagus is used for a variety of medicinal purposes, as well as for a wide variety of foods and beverages. Asparagus has good nutritional properties and flavor, which is why it is actively sought after by major companies as a key ingredient in soup. As many companies are using asparagus in soup making, it is touted to play a crucial part in the soup-making sector, which is expected to grow only in the future. As a healthy vegetable, asparagus is becoming famous in several ready-to-eat foods, and it is combined with other foods like mixed vegetables and chicken to make a truly delicious preparation.

The demand for asparagus in fresh foods such as in salt and vinegar, soups, and sauces increases, and the growth in sales of fresh segments in the global asparagus market is likely to improve significantly.

MARKET DRIVERS

The growing awareness of the health benefits provided by asparagus and the rising health awareness are the key drivers of growth in the global asparagus market. Asparagus is a good source of vitamins K, E, A, folic acid, chromium, and fiber.

It contains large amounts of antioxidants that help protect cells from free radicals. It also improves digestive health, supports a healthy pregnancy, and helps lose weight. It also increases immunity and brain function, promotes healthy digestion, and promotes demand, thereby promoting market growth. It is also rich in antioxidants that promote healthy and shiny skin. This factor is also supposed to accelerate the growth of the asparagus market. Intake of asparagus helps to lower blood pressure by increasing your intake of potassium. These are also some of the factors that drive growth in the target market. In the global asparagus market, the number of organic producers of organic asparagus increases every year due to the high demand for organic asparagus. Asparagus growers are trying to increase the yield they can get, which is attributed to the globally active global export market for asparagus. Asparagus has several health advantages, in particular, the micronutrients in them provide numerous benefits. Asparagus contains glutathione, which is a fight against cancer. Routines that help strengthen blood vessels are abundant in asparagus. Asparagus contains the highest amount of polyacin among all vegetables, so taking it can help prevent neural tube defects in babies.

The health cognizance among consumers across the globe has skyrocketed in recent years, and this supported the demand for the production and consumption of organic asparagus. The augmenting trend for organic asparagus is among the main emerging aspects of driving the global market. Organic asparagus is produced using fertilizer and pest control methods that do not contain synthetic compounds. They are available in the market in pure, fresh, powdered, and frozen forms. The number of organic asparagus growers increases every year due to high demand in North America and Europe. Asparagus growers are focusing on increasing yields to meet growing demand. Increased consumption of asparagus as pickles is assumed to accelerate market growth as shelf life can be extended by adding preservatives or keeping asparagus in salt water. Asparagus products are preserved with preservatives and can be consumed throughout the year. Pickle and pickled asparagus can be purchased in cans, bottles, or glass bottles from the market. Therefore, this factor is presumed to drive market growth by boosting demand for asparagus. The increased release of asparagus products from organic agricultural products is likely to provide tremendous growth opportunities for the asparagus market. However, the growing demand for organic asparagus among end-users can create huge profit opportunities for players in the target market.

MARKET RESTRAINTS

The asparagus was sold using direct marketing strategies, and some farmers set up stalls in the town to encourage the sale of organic produce.

Direct marketing is less profitable when selling products at lower prices, and this factor is expected to hinder the growth of the asparagus market. Also, in emerging regions, product distribution through direct marketing is relatively weak compared to developing countries, so it is estimated to hamper growth in the asparagus market during the planned marketing period. Additionally, asparagus is a factor that can sometimes cause an allergic reaction when used on the skin or consumed as a vegetable, affecting the growth of the global asparagus market.    

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Asparagus Market Analysis By Type

The fresh asparagus segment is likely to gain huge growth opportunities throughput during the forecast period. Both home cooks and professional chefs make versatile use of fresh asparagus due to its ability to enhance the flavor of the complete dish. It is widely used in many of the food varieties to enhance the flavor according to the consumer’s interest. In addition to this, the presence of rich nutritional value, including folate and antioxidants, is ascribed to bolster the usage of fresh asparagus in many food products. People’s choice to use organic and fresh vegetables in the latest trend to maintain proper health and avoid the risk of chronic illnesses is gearing up the growth rate of this segment.

The canned and frozen segment is expected to hold a significant growth rate in the asparagus market. The launch of various techniques to store asparagus, irrespective of the seasons that can be available throughout the year, is attributed to elevating the growth rate of the market. The stored product may not have the same quality as a fresh one, but it can be available like a fresh one and can promote the same taste as the fresh one.

Global Asparagus Market Analysis By Color

White and green segments hold the same share of the asparagus market. These two may be biologically the same but are grown differently. Green asparagus is grown above the ground, and white asparagus is grown underground, with no chlorophyll compound. Many people use white asparagus due to its aromatic and earthy flavors. They are used in many varieties of food like soup, salads, and others. It is becoming one of the most commonly used vegetables in many countries due to its effective nutritional properties.

Global Asparagus Market Analysis By Distribution Channel

The supermarkets and hypermarkets segment is dominating with the highest share of the asparagus market. A growing number of people living in urban areas who are interested in healthy eating habits is eventually leveling up the growth rate of this distribution channel. The easy availability of all types of asparagus at the nearest grocery stores is rapidly elevating the growth rate of the market

REGIONAL ANALYSIS

Given that the European market is a major manufacturer of asparagus, it is determined to record high growth in terms of sales during the outlook period. Furthermore, the use of asparagus in cigars and soups in the countries of this region is another factor that supports the growth of the target market. North America is considered the second-largest producer of asparagus, trailed by the Asia Pacific. Increased consumption of asparagus with low-calorie ingredients and high nutrition is a key growth factor in the North American asparagus market. Additionally, the growing demand for canned asparagus among frozen asparagus and consumers is predicted to support growth in target markets in North America soon.

KEY PLAYERS IN THE GLOBAL ASPARAGUS MARKET

Major Key players in the global asparagus market are Altar Produce LLC, Sociedad Agrícola Virú, THIERMANN SPAGEL FARM, DanPer Trujillo S.A.C., Limgroup B.V., TEBOZA BV, ILIOS - The Greek Asparagus Company, BEJO SEEDS LTD., Spargelhof Elsholz Gbr, Cutter Asparagus Seed, JERSEY ASPARAGUS FARMS, INC., Consorzio Associazione Produttori Ortofrutticoli Foggia, Mazzoni Vivai, and California Asparagus Seed and Transplants, Inc.  

RECENT HAPPENINGS IN THE MARKET

• In September 2017, Desert Farms published the future launch of organic green asparagus products in the upcoming season. Asparagus growers based in California/Mexico will cultivate new product lines alongside their existing operations in the Sonora region of Mexico, with yields expected to last from January to April 2018.
• In April 2019, Applewood Fresh Growers LLC, in association with the American Asparagus of New Era, offered fresh Michigan asparagus in addition to apples.

DETAILED SEGMENTATION OF GLOBAL ASPARAGUS MARKET INCLUDED IN THIS REPORT    

This research report on the global asparagus market has been segmented and sub-segmented based on type, color, distribution channel, & region.                         

By Type

• Fresh         
• Canned and Frozen  

By Color

• White       
• Green             

By Distribution Channel

• Supermarkets and Hypermarkets
• Grocery Stores     
• Other Distribution Channels

By Region 

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