Asparagus Market Size, Share, Industry, Forecast and outlook (2024-2031)

Asparagus Market is segmented By Type (Frozen, Canned, Fresh), By Variety (Green, Purple, White, Wild, Specific, Others), By Application (Food, Pharmaceuticals, Others), By Distribution Channel (Supermarket/Hypermarkets, Pharmacies, Grocery Stores, Vegetable Stores, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Asparagus Market Overview

The global asparagus market reached USD 2,129.1 million in 2022 and is projected to witness lucrative growth by reaching up to USD million by 2030. The market is growing at a CAGR of 5.5% during the forecast period (2024-2031). Asparagus is low in calories and a great source of nutrients, including fiber, folate, and vitamins A, C, and K.  Altar Produce, Limgroup B.V, Thiermann GmbH & Co. are some of the Key Players 

There are more than 200 species within this plant family. Additionally, asparagus provides several potential health benefits, including weight loss, improved digestion, healthy pregnancy outcomes, and lower blood pressure which drives the asparagus market size. Asparagus grows in temperate or subtropical climates in soils that are not too acidic. China, Thailand, Mexico, Peru, and Germany are the countries growing most of the world’s asparagus.

Asparagus Market Scope and Summary

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Asparagus Market Dynamics and Trends

Growing Interest in Asparagus Due to the Variety of Health Benefits

Due to its numerous micronutrients, asparagus has many health advantages. Asparagus contains rutin and glutathione, which support healthy blood vessels and fight cancer, respectively. Asparagus has the highest concentration of folacin of any vegetable and contains chromium, which aids insulin in transporting glucose into cells. Eating it can assist in preventing serious congenital disabilities of the baby's spine (spina bifida) and brain (anencephaly). It also contains a lot of fibre, which is associated with reduced body weight and weight loss. Additionally, asparagus can be added to omelettes, salads, stir-fries, asparagus frittatas, and other dishes. It can be prepared similarly to asparagus by boiling, grilling, steaming, roasting, and sautéing. For instance, according to FreshPlaza Article, Lower Saxony harvested the most asparagus in 2022 with 25,300 tons, followed by North Rhine-Westphalia with 20,300 tons and Brandenburg with 18,700 tons.

Asparagus Market Segment Analysis

The global asparagus market is segmented based on type, variety, application, distribution channel and region.

Green Asparagus is Expected to Dominate the Global Asparagus Market

Asparagus is widely available in two color variants—green and white. Some countries such as Netherlands, Belgium and Peru are more familiar with white varieties, while others, like UK, usually only see green form in supermarkets. Green asparagus form traditionally a much bigger global market to the extent that some countries only demand green form and consumers are not even aware of white variants. Agronomically, the significant difference is whether the shoots are harvested above ground (green) or underground before reaching the surface/light (white). Botanically, both are a single species and used to produce both variants. For instance in Jaunary 2023, Late campaign launched for green asparagus in Granada; limited televisionLate start to the green asparagus campaign in Granada, along with low volumes and significant drought concerns.

Source: DataM Intelligence Analysis (2023) 

Asparagus Market Geographical Penetration

North America Holds Highest Share in the Global Asparagus Market

North America held significant market revenue share with approximately 40% in the year 2022. The United States is leading the North America asparagus market. Most of the asparagus harvested in the United States is sold as fresh. The national average yield in 2022 was around 3,975 pounds per acre. Nearly 35,000 acres of conventional and organic asparagus are grown in the Caborca, San Luis, and Mexicali valleys to supply the U.S. and other export markets from January through April. According to a press release from the Association of Fruit and Vegetable Producers of Caborca A.C., the Mexican asparagus deal has experienced significant volume in forecasted projections for the 2023 season. According to the USDA, the average carton price for asparagus (of all origins) on February 18 was $28.50, up from $22.55 at the same time last year. The week of February 12 saw approximately 88% of the world's asparagus shipments arrive in the United States, with the remaining 2% coming from Peru.

Source: DataM Intelligence Analysis (2023)

Asparagus Companies and Competitive Landscape

The major global players in the market include Altar Produce, Limgroup B.V, Thiermann GmbH & Co. KG, Teboza B.V., ILIOS, Jersey Asparagus Farms, Inc., Walker Brothers, Inc., Apo Foggia, Mazzoni S.p.A., and Global Plant Genetics Ltd.

COVID-19 Impact on Asparagus Market

Restrictions on movement across the countries in Europe and the rest of the world has created major disruption globally. Extra checks at borders lead to delays that are detrimental to perishable goods. In addition, some countries quarantine trucks and/or drivers; thereby, significantly reducing ground fleets, especially in Europe. Quarantines also apply to ships, which need to stay longer on the port as a result, leading to increased risks of produce damage and longer delays supplying markets. In Europe, asparagus was the canary in the coal mine. Widespread lockdowns and restrictions on movement across international borders meant big challenges for the usual army of seasonal workers who travel to pick, sort and pack fresh produce on farms across Europe. Due to the negative impact of the Covid-19 pandemic, the country’s asparagus planting area and the fresh asparagus transaction price have both declined. The total area of asparagus planted nationwide was about 90,000 hectares in 2020, a decrease of 5% from 2019. The total transaction amount in the national market was close to 2.5 billion USD, a decrease of 19% from 2019.

By Type

• Frozen
• Canned
• Fresh 

By Variety

• Green
• Purple
• White
• Wild
• Specific
• Others 

By Application

• Food
• Pharmaceuticals
• Others

By Distribution Channel

• Supermarket/Hypermarkets
• Pharmacies
• Grocery Stores
• Vegetable Stores
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • The U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• On April 14, 2023, a premium British asparagus brand was launched by UK fruit and vegetable distributor Nationwide Produce for its wholesale clients in time for the start of the new season
• On April 15, 2023, according to data from the Foreign Trade Society of Peru (ComexPer), exports of fruit and vegetable products, which totaled 8,686 tons in the first month of 2023, or 1.1% more than in the same month of the previous year, were the main contributor to Peruvian air asparagus shipments.
• In November 2020, Enza Zaden launched first white asparagus variety Daleza F1.

Why Purchase the Report?

• To visualize the global asparagus- market segmentation based on type, variety, application, distribution channel and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of asparagus market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global asparagus market report would provide approximately 53 tables, 54 figures and 195 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies