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:
On the basis of product type, the global market is classified into:
On the basis of Distribution Channel, the global market is classified into:
On the basis of End-use, the global market is classified into:
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.
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