Asparagus Market Poised for Robust CAGR of over 3.1% through 2027
Key excerpts from Future Market Insights’ latest report on the global asparagus market project that by the end of 2027, around 10,300,521.7 metric tonnes (MT) of asparagus will be consumed across the globe. The sales of 10 million MT of asparagus are estimated to bring in revenues worth over US$ 37 Bn. Rising awareness among consumers regarding benefits of consuming asparagus is expected to instrument the growth in global consumption.
Key excerpts from Future Market Insights’ latest report on the global asparagus market project that by the end of 2027, around 10,300,521.7 metric tonnes (MT) of asparagus will be consumed across the globe. The sales of 10 million MT of asparagus are estimated to bring in revenues worth over US$ 37 Bn. Rising awareness among consumers regarding benefits of consuming asparagus is expected to instrument the growth in global consumption.
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<strong>Asparagus</strong> <strong>Market</strong>: Global Industry Analysis and<br />
Opportunity Assessment, 2017–<strong>2027</strong><br />
May 2017<br />
Report Id : REP-GB-2588<br />
Status : April - 17<br />
Category : Food and Beverages<br />
©2015 Future <strong>Market</strong> Insights, All Rights Reserved
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<strong>Asparagus</strong> <strong>Market</strong><br />
Key excerpts from Future <strong>Market</strong> Insights’ latest report on the global asparagus market project that by<br />
the end <strong>of</strong> <strong>2027</strong>, around 10,300,521.7 metric tonnes (MT) <strong>of</strong> asparagus will be consumed across the<br />
globe. The sales <strong>of</strong> 10 million MT <strong>of</strong> asparagus are estimated to bring in revenues worth <strong>over</strong> US$ 37 Bn.<br />
Rising awareness among consumers regarding benefits <strong>of</strong> consuming asparagus is expected to instrument<br />
the growth in global consumption. By helping consumers boost their immunity, enhance brain function,<br />
and at certain extent, fight cancer, asparagus will continue to be an essential vegetable rich in nutrients.<br />
In terms <strong>of</strong> production, China is expected to remain the world’s largest asparagus producer <strong>through</strong>out<br />
the <strong>for</strong>ecast period, 2017-<strong>2027</strong>. In 2014, China recorded production <strong>of</strong> half a million metric tonnes <strong>of</strong><br />
asparagus. China’s contribution to the asparagus market in Asia-Pacific will remain significant. However,<br />
brimming demand <strong>for</strong> asparagus makes Western Europe the largest market, procuring <strong>over</strong> 40% share <strong>of</strong><br />
global revenues. North America is also expected to be at the <strong>for</strong>efront <strong>of</strong> expansion <strong>of</strong> the global<br />
asparagus market, recording consumption <strong>of</strong> nearly 2 million MT <strong>of</strong> asparagus by 2016-end.<br />
In spite <strong>of</strong> ample production and growing awareness regarding benefits <strong>of</strong> asparagus, the market is<br />
poised to grow at a moderate place. In terms <strong>of</strong> volume, the market is projected to showcase a 2.2%<br />
<strong>CAGR</strong>, while global asparagus revenues are projected to soar sluggishly at <strong>3.1%</strong> <strong>CAGR</strong> during the <strong>for</strong>ecast<br />
period. The report, titled “<strong>Asparagus</strong> <strong>Market</strong>: Global Industry Analysis and Opportunity Assessment,<br />
2017-<strong>2027</strong>,” has identifies key restraints <strong>for</strong> the growth <strong>of</strong> global asparagus sales, which include:<br />
Farmers Opting <strong>for</strong> Direct <strong>Market</strong>ing – Farmers cultivating asparagus sell their produce by themselves,<br />
<strong>through</strong> traditional village bazaars and roadside outlets.<br />
©2015 Future <strong>Market</strong> Insights, All Rights Reserved 4
<strong>Asparagus</strong> <strong>Market</strong><br />
Large and small restaurants as well as common consumers are also preferring to purchase this farm-fresh<br />
asparagus <strong>through</strong> direct marketing <strong>of</strong> farmers. This practice is impacting the global asparagus sales, but<br />
at a moderate extent.<br />
High Costs <strong>for</strong> Processing & Storage <strong>of</strong> <strong>Asparagus</strong> – The most crucial inhibitor <strong>for</strong> growth <strong>of</strong> global<br />
asparagus sales is the need <strong>for</strong> higher capital investment in storage and processing <strong>of</strong> asparagus. Cost <strong>of</strong><br />
packaging, cooling and transportation is relatively high, which reduces the price per pound <strong>of</strong> asparagus.<br />
Reduction in price per pound further leads to monetary losses <strong>for</strong> manufacturers. Processed asparagus,<br />
such as asparagus in brine, soups, mixed vegetable products etc., being sold at higher cost price, is<br />
expected to result in lower uptake among some sections <strong>of</strong> consumers in the world.<br />
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Leading manufacturers <strong>of</strong> asparagus include: Altar Produce LLC, Sociedad Agrícola Virú, DanPer Trujillo<br />
S.A.C., Limgroup B.V., TEBOZA BV, THIERMANN SPAGEL FARM, ILIOS - The Greek <strong>Asparagus</strong> Company,<br />
BEJO SEEDS LTD., Spargelh<strong>of</strong> Elsholz Gbr, Cutter <strong>Asparagus</strong> Seed, JERSEY ASPARAGUS FARMS, INC.,<br />
Consorzio Associazione Produttori Ort<strong>of</strong>rutticoli Foggia, Mazzoni Vivai, and Cali<strong>for</strong>nia <strong>Asparagus</strong> Seed and<br />
Transplants, Inc.<br />
Additional Highlights from the Report -<br />
• By the end <strong>of</strong> 2017, the report estimates that <strong>over</strong> 8.2 million MT <strong>of</strong> asparagus will consumed globally,<br />
raking in US$ 27.7 Bn revenues<br />
©2015 Future <strong>Market</strong> Insights, All Rights Reserved 5
<strong>Asparagus</strong> <strong>Market</strong><br />
• Towards the end <strong>of</strong> <strong>2027</strong>, <strong>over</strong> three-fourth <strong>of</strong> global revenues will be accounted by sales <strong>of</strong> fresh<br />
asparagus<br />
• Likewise, green asparagus will also hold 75% share <strong>of</strong> global revenues <strong>through</strong>out the <strong>for</strong>ecast period,<br />
registering revenue growth at 3.3% <strong>CAGR</strong><br />
©2015 Future <strong>Market</strong> Insights, All Rights Reserved 6
Table <strong>of</strong> Content<br />
1. Global <strong>Asparagus</strong> <strong>Market</strong> Executive Summary<br />
2. <strong>Market</strong> Taxonomy<br />
3. Global <strong>Asparagus</strong> <strong>Market</strong> Value (US$ Mn) & Volume (MT) Forecast<br />
3.1. Global <strong>Asparagus</strong> Growers & Association – Overview<br />
3.2. Global <strong>Asparagus</strong> <strong>Market</strong> Trends<br />
4. <strong>Asparagus</strong> Production & Cultivation Overview<br />
4.1. Overview on Top 10 <strong>Asparagus</strong> Producing Countries<br />
4.2. Overview on Production Acreage & Yield<br />
4.3. Global <strong>Asparagus</strong> Cultivation Analysis, By Region<br />
4.4. Global <strong>Asparagus</strong> Cultivation Analysis, By Countries<br />
4.5. Global <strong>Asparagus</strong> Yield Analysis, By Countries<br />
4.6. Production And Yield Comparison Overview<br />
5. Global <strong>Asparagus</strong> Overview By Color & By Type<br />
6. Net Trade Scenario<br />
6.1. Overview on <strong>Asparagus</strong> Import: By top 10 Countries<br />
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Table <strong>of</strong> Content<br />
6.2. Overview on <strong>Asparagus</strong> Export: By top 10 Countries<br />
7. Pricing Analysis<br />
8. Industry Supply Chain Analysis<br />
8.1. Production Chain<br />
8.2. Value Chain<br />
9. <strong>Market</strong> Dynamics<br />
9.1. Drivers<br />
9.2. Restraints<br />
9.3. Opportunity<br />
10. Global <strong>Asparagus</strong> <strong>Market</strong> Value (Mn) & Volume (MT) Forecast, By Type<br />
10.1. <strong>Market</strong> Snapshot, By Type<br />
10.1.1. Basis Point Share (BPS) Analysis, By Type<br />
10.1.2. Y-o-Y Growth Projections, By Type<br />
10.2. <strong>Market</strong> Value (US$) & Volume (MT) Forecast By Type<br />
10.2.1. <strong>Market</strong> Absolute $ Opportunity (US$ Mn) Analysis and Forecast, By Type<br />
10.2.2. Canned<br />
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Table <strong>of</strong> Content<br />
10.2.3. Fresh<br />
10.2.4. Frozen<br />
10.3. <strong>Market</strong> Attractiveness Analysis, By Type<br />
11. Global <strong>Asparagus</strong> <strong>Market</strong> Value (Mn) & Volume (MT) Forecast, By Color<br />
11.1. Introduction<br />
11.1.1. <strong>Market</strong> Snapshot, By Colour<br />
11.1.2. Basis Point Share (BPS) Analysis, By Colour<br />
11.1.3. Y-o-Y Growth Projections, By Colour<br />
11.2. <strong>Market</strong> Absolute $ Opportunity (US$ Mn) Analysis and Forecast, By Colour<br />
11.2.1. White<br />
11.2.2. Green<br />
11.3. <strong>Market</strong> Attractiveness Analysis, By Colour<br />
12. Global <strong>Asparagus</strong> <strong>Market</strong> Value (Mn) & Volume (MT) Forecast, By Region<br />
12.1. Introduction<br />
12.1.1. <strong>Market</strong> Snapshot, By Region<br />
12.1.2. Basis Point Share (BPS) Analysis, By Region<br />
12.1.3. Y-o-Y Growth Projections, By Region<br />
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Table <strong>of</strong> Content<br />
12.2. <strong>Market</strong> Absolute $ Opportunity (US$ Mn) Analysis and Forecast By, Region<br />
12.2.1. North America<br />
12.2.2. Latin America<br />
12.2.3. Eastern Europe<br />
12.2.4. Western Europe<br />
12.2.5. Asia-Pacific excluding Japan (APEJ)<br />
12.2.6. Middle East and Africa (MEA)<br />
12.3. <strong>Market</strong> Attractiveness Analysis, By Region<br />
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