Asparagus Market - Global Industry Insights, Trends, Outlook and Opportunity Analysis, 2018-2026

  • To Be Published : Aug 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Asparagus is a spring vegetable, herbaceous and high value flowering perennial plant with stout stems with much branched, feathery foliage. It is a member of lily family which also includes leeks, garlic, and onion. One of the key factors for the growth of asparagus market is that it aids in bone health and blood clotting as asparagus contains vitamin K, vitamin C, folates and little bit of tryptophan. Increasing consumer demand for organic products made of asparagus has made organic crop production one of the fastest growing segments of asparagus market. Asparagus helps consumer to boost their immunity, enhance brain function and at some extent, fight cancer is projected to the growth of asparagus market. Increasing awareness regarding health benefits of consuming asparagus among population is expected to the growth of asparagus market.

Asparagus Market Taxonomy-

On the basis of color, the global market is classified into:

  • White
  • Green
  • Purple

On the basis of product type, the global market is classified into:

  • Canned
  • Fresh
  • Frozen

On the basis of Distribution Channel, the global market is classified into:

  • Hypermarket
  • Supermarket
  • Departmental Stores
  • Online
  • Others

On the basis of End-use, the global market is classified into:

  • Pharmaceutical
  • Healthcare
  • Food and beverages
  • Cosmetics
  • Others

The rise in demand for the anti-aging creams drives growth of the cosmetic application segment. In addition to rich source in vitamins, asparagus also consists of anti-oxidant properties is projected to the growth of asparagus market. Asparagus along with vegetable also considered as medicinal plant as it helps in maintaining cholesterol level in the body and reduce blood pressure level are some of the drivers which attract the pharmaceutical companies and fuel to the growth of asparagus market. Along with this, asparagus offers wide variety of taste and texture is expected to the growth of asparagus market.

Asparagus Market Outlook-

Europe is the largest manufacturer of asparagus followed by North America and Western Asia. Presently, asparagus is used in starter and salad in restaurants led to growth of the asparagus market. Cost of packaging, cooling transportation is relatively high which increases the price of asparagus. The U.S. consumption of fresh asparagus increased rapidly as compared to canned asparagus and frozen asparagus enabling opportunities for exporting countries to be able to provide out of season produce. According to Agricultural Marketing Resource Center, asparagus is a low calorie, nutritious vegetable that is high in vitamin C and iron and one cup of asparagus contains 3 grams of protein which leads to the high production of asparagus market, hence is expected to fuel the growth of asparagus market during the forecast period. According to Non-Traditional Agricultural Exports, asparagus is the chief product in Peru. Peruvian exports enhanced due to competitiveness which originated from favorable climate, soil, labor and production factors.

Pickled asparagus sauces and soups and brine lead to an increasing demand for fresh asparagus products, asparagus is used as key ingredients in soups due to its palatable taste and its nutritive value and has broadly become the choice of soup manufacturing industry, which is expected to propel the growth of global asparagus market in terms of value and volume.

Various asparagus manufacturing companies mainly focusing on product development and are implementing new innovations and technology to achieve better market position in the global asparagus market. In May 2017, Limgroup introduced Aspalim and Portlim, to enhance their product portfolio and to expand their position in the global asparagus market.

Some of the key players in the global asparagus market are  Altar Produce, DanPer, Limgroup, TEBOZA Asparagus, Viru(Natural Ahead), , Cutter Asparagus Seed, Mazzoni S.p.A., Walker Plants, Spargelhof Elsholz, ILIOS –The Greek Asparagus Company, California Asparagus Seed and Transplants, Inc., Gourmet Trading Company and Motta Produce.

Research Methodology

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  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
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Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
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Data Processing

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Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

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  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
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