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Asparagus Market, Analysis By Type (Fresh, Canned, and Frozen), By Color (White and Green), By Distribution Channel (Supermarket/Hypermarket, Convenience Stores, Online Retail Stores, and Others), and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI107789 | Status : Ongoing

 

KEY MARKET INSIGHTS

The global asparagus market has steadily grown in recent years due to increasing demand for healthy and nutritious food. Asparagus is a versatile vegetable rich in vitamins, minerals, and antioxidants, making it a popular choice for health-conscious consumers. The global market is anticipated to continue its growth trajectory in the coming years, driven by several factors, including increasing demand from the food and beverage industry, rising consumer awareness of the health benefits of asparagus, and growing adoption of asparagus in developing countries.


One of the primary drivers of the global asparagus industry is increasing demand from the food & beverage industry. Asparagus is a versatile vegetable in various dishes, from salads and appetizers to main courses and side dishes. Asparagus is also a popular ingredient in canned and frozen food products, which are convenient for consumers and have a longer shelf life. As the demand for convenient and healthy food options continues to rise globally, the demand for asparagus is expected to increase.

Furthermore, governments have been formulating rules and standards for the asparagus market to improve trade and offer consumers the best quality products. For instance, in August 2020, the International Organization for Standardization, a nongovernmental organization, published a new standard, ISO 20981, to support asparagus’ healthy growth. The new standard outlines the requirements and test methods for fresh asparagus shoots. The new standard also applies to the commercial varieties of asparagus grown from Asparagus officinalis L. of the Liliaceae family. The users of the standard can be assured of the quality and taste of the product.

Impact of COVID-19 on the Global Asparagus Market


The COVID-19 pandemic negatively impacted the global asparagus market growth. The restriction on movement across countries created major disruptions across the globe. The pandemic deteriorated the trade movements impacting the import/export of various agricultural commodities, including asparagus. Reduction in the frequency of international flights and increase in freight costs impacted the shipments of asparagus. According to the Peruvian Exporters' Association – ADEX Report 2020, in the first quarter of 2020, the export of asparagus, including (fresh, preserved, and frozen) totaled USD 75,509 million and incurred a drop of -16.6% compared to the previous year, which reported USD 90,639 million, in turn, impacting the asparagus industry.

Key Insights


The report will cover the following key insights:


  • The product launched by key market players

  • Overview of the global market

  • Impact of COVID-19 on the market

  • Drivers of the asparagus market

  • Regulatory analysis of the global asparagus market


Analysis by Type


Based on type, the asparagus market is segmented into fresh, canned, and frozen. The fresh segment is expected to hold a significant share of the market. The growing health consciousness and rising awareness regarding the health benefits offered by asparagus propel the demand for the product. The young shoots of asparagus are used as a spring vegetable owing to their unique flavor and taste. Fresh asparagus is highly preferred over canned, owing to its nutritional benefits.

Analysis by Color


Based on color, the market is segmented into green and white. The green segment is expected to hold a major global market share. Green asparagus is increasingly popular in North America. Green asparagus is considered to be a good source of vitamins, high in antioxidants, and has low calories. The increasing demand for green asparagus led manufacturers to adopt investment strategies to offer premium quality products and maintain a global position in the asparagus market. For instance, in February 2023, Los Gallombares, an agricultural cooperative, invested USD 8.6 million in expanding green asparagus facilities by constructing a new 10,000-square-metre warehouse with a capacity of 100,000 kg of product per day.

Analysis by Distribution Channel


Based on distribution channel, the market is segmented into supermarket/hypermarket, convenience stores, online retail stores, and others. The supermarket/hypermarket segment is expected to hold a significant share of the global asparagus market. Supermarkets provide top-quality products to consumers which follow Good Agricultural Practices (GAP). These stores also provide premium packaging of the vegetables with discounts and offers, which attract a large consumer base, thereby surging the demand for vegetables such as asparagus.

Analysis by Region


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Europe is expected to dominate the global asparagus market share owing to the rising use of asparagus in processed foods. The Europe market for asparagus is driven by a strong demand for fresh and processed products, particularly in countries such as Germany, France, and Spain. Canned and frozen asparagus are also extensively consumed in the region due to their ease of preparation and longer shelf life. The prominent players in the region are also focusing on several strategies to improve the farming and export potential of asparagus in the region. For instance, in October 2021, Muddy Machines, a U.K. agri-tech startup, and Agri-EPI member, successfully developed a prototype robotic harvester for green asparagus named Sprout. The new harvester uses the latest technology to detect and delicately pick the asparagus spears according to growers' specifications. Such innovations would help propel the market potential of asparagus in the region.

Key Market Players



  • Walker Plants

  • Altar Produce LLC

  • Limgroup B.V.

  • Jersey Asparagus Farms

  • Greek Asparagus Company

  • Cutter Asparagus Seed

  • Thiermann GmbH & Co KG

  • Planta Trujillo - Danper Trujillo S.A.C.

  • California Asparagus Seed

  • Transplants Inc.

  • Südwestdeutsche Saatzucht


Asparagus Market Segmentation Analysis


















By Type


By Color


By Distribution Channel


By Geography



  • Fresh

  • Canned

  • Frozen



 


  • White

  • Green




  • Supermarket/Hypermarket

  • Convenience Stores

  • Online Retail Stores

  • Others




  • North America (U.S., Canada, and Mexico)

  • Europe (Germany, France, Italy, U.K., Spain, Russia, and Rest of Europe)

  • Asia Pacific (China, Japan, India, Australia, and Rest of APAC)

  • South America (Brazil, Argentina, Rest of South America)

  • Middle East & Africa (UAE, Saudi Arabia, Rest of Middle East & Africa)



Key Industry Developments



  • In September 2021, the New Zealand Asparagus Council and Tauranga-based Robotics Plus worked with New Zealand asparagus growers to develop a commercial-scale autonomous robotic asparagus harvester. The new harvester would address labor shortages and support growers to tap into high-value export markets.

  • In November 2020, Enza Zaden, a Dutch vegetable breeder, launched the first variety of white asparagus, Daleza (E225W.004).





  • Ongoing
  • 2023
  • 2019-2022

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