USD 2.71 billion
Artichokes Market Size, Share, Growth Analysis, By Product Type(Globe artichokes, Elongated artichokes), By End Use(Food processing, Direct consumption, Beverage processing, Others.), By Region - Industry Forecast 2024-2031
Report ID:
SQSG30C2012 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
63
|Figures:
75
Artichokes Market Insights
Artichokes Market size was valued at USD 2.71 billion in 2019 and is poised to grow from USD 2.77 billion in 2023 to USD 3.42 billion by 2031, growing at a CAGR of 2.34% in the forecast period (2024-2031).
The plant's blossom buds, or artichokes, are primarily grown close to the Mediterranean region. Artichokes are advantageous in medical research, genetics, liqueur, herbal tea, and cuisine due to their entire antioxidant property. In addition to this, artichokes are high in fibre, potassium, magnesium, folate, and vitamin C, which has increased consumer demand for artichokes. In contrast to the lacklustre demand in the Asia Pacific region, artichokes are predicted to have a strong market in Western Europe, North America, and Latin America. The green globe variety, one of the nine primary artichoke kinds, appears to be the most popular worldwide.
One of the elements influencing the cost is the availability of artichokes. While prices for artichokes are at their lowest in March when supplies are at their highest, they reach their highest point in the winter when demand is at its highest. The most widely consumed artichoke kind worldwide is the green globe variety. The artichokes are preserved using the required packing and preservation processes, allowing for a lengthy shelf life and international exportation over greater distances. As a result, the market for artichokes has been greatly influenced by the frozen and canned versions of the vegetable.
The chemicals silymarin and cynarin, which are contained in artichoke leaves, have powerful antioxidant effects and have been shown to be very successful at repairing healthy liver tissues and treating a number of ailments. Other than this, compactness and cleanliness are the main aspects that help the food product's marketing.
US Artichokes Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Globe Artichokes
Fastest Growth
Globe Artichokes
Growth Rate
2.34% CAGR
Global Artichokes Market 2021-2028 ($ Bn)
Country Share for Europe Region- 2021 (%)
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Artichokes Market Segmental Analysis
The Global Artichokes Market is segmented based on the Product Type, End Use, and Region. Based on the Product Type, the Global Artichokes Market is segmented as globe artichokes and elongated artichokes. Based on the End Use the market is segmented as food processing, direct consumption, beverage processing, and others. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Artichokes Market Analysis by Product Type
The market for artichokes is segmented into two categories based on the kind of product: globe artichokes and elongated artichokes. Globe artichokes held the largest market share in 2021 and are anticipated to maintain their dominance during the forecast period. A vegetable crop indigenous to the Mediterranean region is the globe artichoke. They are the world's most widely grown, fat (4-5 inches), and oblong artichokes. The most common and consumed varieties of globe artichokes are green globe, baby Anzio, and giant heart. The immature flower buds, which contain vital nutrients including inulin, fibers, and minerals, are the major reason it is grown. Additionally, the globe artichoke is a well-known medicinal plant, and its heads and leaves are a rich source of polyphenolic chemicals. escalating consumption of healthy and nutritional food among the populace is the major driving factor for the growth of the globe artichokes segment.
Artichokes Market Analysis by End Use
The market for artichokes is segmented into food processing, direct consumption, beverage processing, and others based on end use. The large part of market share of the global artichokes market in 2021, was accounted for by the food processing sector. The food processing industries are increasing the need for artichokes. The market for artichokes is expanding due to the availability of a wide variety of them as well as a growing consumer preference for nutritious foods. Artichokes are frequently used in culinary preparation, particularly in pasta dishes and salads. They are additionally employed as pie and pizza toppings, as well as in dips and tarts. In particular in North Africa, the Middle East, Turkey, and Armenia, they are boiled, steamed, grilled, or roasted with sauces and tastes to form a variety of dishes. Artichokes' supposed health advantages have spurred the consumers to include it in their daily diet.
Global Artichokes Market by Product Type, 2021 (%)
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Artichokes Market Regional Insights
In 2021, the Europe region led the global Artichokes market. The growth of the regional market can be attributed to the fact that the primary artichoke-producing nations are located in Europe, Europe held the greatest market share for artichokes in 2021. The demand for artichokes has significantly increased in Italy, France, Spain, and the UK due to the rise in the consumption of nutritive and organic food products, which is boosting their overall sales in Europe. The market is expanding in the area as a result of consumer awareness of the uses and advantages of artichokes. Additionally, the producers are spending money on R&D projects to expand the applications for artichokes. The demand for the goods in the area has also increased as a result.
In contrast to the lackluster demand in the Asia Pacific region, artichokes are predicted to have a strong market in Western Europe, North America, and Latin America. The green globe variety, one of the nine primary artichoke kinds, appears to be the most popular worldwide.
Global Artichokes Market By Geography, 2021 - 2028
- Largest
- Fastest
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Artichokes Market Dynamics
Artichokes Market Driver
- The primary element influencing artichokes market expansion is the health benefits of artichokes. Developments in food science are the main factor driving demand in the worldwide artichoke industry. People who care about their health should take into account that artichokes are thought to assist humans regulate their blood pressure. Additionally, consumption of processed artichoke has digestive benefits, which have fueled market expansion. Further, spending more on organic supplements will drive the artichokes market. The total amount spent on natural supplements has gone risen as more people try to live healthier lives. This element has had a direct impact on the worldwide artichoke market's growth curve. Increasing awareness about health in population is expected to flourish the market growth of artichokes market globally.
Artichokes Market Restraint
- It is probably safe to consume artichokes. Additionally, research have shown that using artichoke supplements for up to 23 months is safe. The only significant adverse effects to be aware of are weakness, flatulence, and hunger. Some people may get diarrhea or an upset stomach. People who are allergic to marigolds, daisies, and other related herbs may also experience adverse responses after eating artichokes. And thus, this factor could limit the growth of market.
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Artichokes Market Competitive Landscape
The Global Artichokes market is relatively fragmented, with a high level of competition. Companies are working on product differentiation and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and are forming strategic and creative partnerships with other start-up businesses to increase market share and profitability.
Artichokes Market Top Player's Company Profiles
- Agroindustria Guadalajara
- Unifrutti Traders Ltd.
- Ocean Mist Farms
- Green Globe Produce Inc.
- DanPer Trujillo S.A.C.
- Four Leaf Farms
- Pistoia Orto Srl
- Sun Impex International Foods LLC
- Apollo Exports International Inc.
- Baika Agricultural Cooperative
- Baja Farm Fresh
- Fresh Select LLC
- Globe Artichokes Australia
- Greenyard NV
- Magna Produce Pty Ltd
- The Nunes Company, Inc.
- Rio Queen Citrus, Inc.
- Soave Agricola SRL
- Syngenta AG
- D'Arrigo California
Artichokes Market Recent Developments
- In June 2022, Vegan brand Violife Foods—Veggie Award winner for Best Staple Vegan Cheese—is expanding into a new category this month with the launch of three creamy dairy-free dips. The new Violife dips will be available in Ranch, French Onion, and Spinach & Artichoke, all flavors chosen intentionally to compete with classic dairy dips.
- In June 2022, An Italian population study found that the risk of breast cancer was reduced for increasing intake of apigenin, among other flavones. However, no population studies have specifically evaluated the impact of consuming artichokes on the risk of breast cancer.
Artichokes Key Market Trends
- Recent studies found that, in people who already have liver disease, artichokes may assist to improve their condition and prevent further liver damage. Researchers summarized the effects of artichoke supplementation on the concentration of the liver enzymes alanine transaminase (ALT) and aspartate aminotransferase (AST) in patients with nonalcoholic fatty liver disease (NAFLD) and other metabolic conditions in a systematic review and meta-analysis of eight studies. Serum ALT and AST concentrations are frequently used biomarkers to evaluate liver function and are thought to be indications of metabolic syndrome and NAFLD.
Artichokes Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Artichokes Market Analysis, In 2021, the Europe region led the global Artichokes market. The growth of the regional market can be attributed to Due to the fact that the primary artichoke-producing nations are located in Europe. On the other hand, among segments the segments of Globe artichokes is the most preferred option due to its is abundantly grown in various regions of the world and the segment of food processing is a largely growing segment owing to the varieties of delicacies that are been prepared worldwide. The market is been driven by ample of health benefits of artichokes whereas it is restrained by the side effects of it.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.71 billion |
| Market size value in 2031 | USD 3.42 billion |
| Growth Rate | 2.34% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Artichokes Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Artichokes Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Artichokes Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Artichokes Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Artichokes Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Artichokes Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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