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The artichokes market size is estimated to grow by USD 260.16 thousand at a CAGR of 3.05% between 2022 and 2027. Market expansion hinges on several factors, notably the burgeoning organized retail sector, urbanization trends, shifting consumer lifestyles, and the increasing impact of blogs and digital media on artichoke consumption. Conversely, market growth faces hurdles such as the risk of food contamination in fruits and vegetables, a surge in unfair trade practices, and the volatility in prices of these commodities. Despite the promising prospects offered by the aforementioned growth drivers, addressing these challenges is paramount for sustained market advancement. Mitigating food contamination risks demands stringent quality control measures and hygiene standards. Similarly, combating unfair trade practices necessitates regulatory interventions and ethical business practices. Moreover, stabilizing prices through strategic supply chain management and market interventions can foster consumer confidence and drive long-term growth in the artichoke market.
It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The market share growth by the food and beverages segment will be significant during the forecast period. Urbanization and consumption trends have brought about major changes in consumer lifestyles, resulting in a shift towards healthier foods. People's health is an important factor in a nation's social and economic prosperity. Therefore, health-conscious people seek foods that contain essential nutrients. Artichoke-based foods and beverages can be an important part of a healthy diet when consumed in appropriate amounts. They help prevent serious diseases like cancer.
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The food and beverages segment was valued at USD 1,251.62 thousand in 2017 and continued to grow until 2021. They play an important role in human nutrition as they are an excellent source of vitamins such as C and K and many other dietary fibers such as folic acid. Fruit and vegetable ingredients also help with weight management, lower blood cholesterol levels, and control insulin and blood sugar responses. Therefore, the food and beverage segment of the market is expected to grow during the forecast period.
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Europe is estimated to contribute 46% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Europe is expected to be the largest geographic segment of the market during the forecast period. This is due to the rising disposable income of the population in this region and growing awareness of the health benefits of consuming fresh fruits and vegetables. The growing demand for healthy foods has increased the demand for fresh artichokes. Italy is the world's most populous producer, followed by Egypt and Spain, which also participate in international trade. Farmers use horticulture as a technique to produce cash crops. In addition, rising health concerns among the population are expected to boost the demand during the forecast period. Therefore, increasing demand and increasing imports and exports will boost the growth of the market during the forecast period.
Artichokes, particularly Jerusalem Artichokes, are recognized for their numerous health benefits and functional properties, supported by research available on platforms like PubMed Central (PMC). Rich in antioxidants, they promote heart and liver health while also aiding digestion and reducing the risk of conditions like non-alcoholic fatty liver disease and high blood pressure. Their low glycemic index makes them suitable for various cuisines and recipes, offering versatile options for incorporating into meals. Artichokes contain essential nutrients such as chromium, fiber, folate, potassium, and inulin, contributing to their dietary supplement status and popularity in pharmaceutical industries. Additionally, their edible flower buds provide additional health benefits, thanks to compounds like secondary metabolites and phenolic compounds. Despite their seasonal dependency, artichokes remain a sustainable source and continue to attract attention for their antioxidant properties and potential in biofuel production. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing organized retail sector is notably driving market growth. The growth of the organized retail sector across the world is a key factor influencing the growth of the market during the forecast period. To generate more sales volume and revenue, companies continually focus on strengthening their distribution networks through organized retail. Organized retail grew with the establishment of several supermarkets, hypermarkets, and specialty stores. Hypermarkets and supermarkets are the two main offline distribution channels for fruits and vegetables.
Organized retail is an integral part of offline distribution channels, facilitating the consumer shopping process and allowing them to choose from a wide variety of fruits and vegetables. Walmart Inc., Carrefour, The Kroger Co., and Penny are hypermarkets around the world that offer a wide variety of fruits and vegetables. An increase in the number of organized retailers offering more shelf space for organic and non-organic artichokes is expected to boost the growth of the market during the forecast period.
Increasing demand for organic fruits and vegetables is a key trend influencing market growth. The global food and beverage industry is increasingly demanding organic fruits and vegetables. For this reason, the market is expected to develop during the forecast period. Organic food is becoming more and more popular around the world because it is produced without the use of synthetic fertilizers, chemical pesticides, artificial substances, or genetic engineering.
Organic farming improves the nutrients in the soil and results in higher-quality produce grown in that soil. Organic artichokes offer an ideal solution for consumers looking for healthy food made from delicious organic ingredients. They contain various minerals, vitamins, omega-3 fatty acids, and some antioxidant properties. Hence, increasing demand in the global food and beverage industry will boost the growth of the market during the forecast period.
Food contamination from fruits and vegetables is challenging the market growth. Food poisoning can adversely affect a person who eats food contaminated with bacteria, viruses, parasites, toxins, or other substances. Eating raw artichokes can put you at risk of food poisoning from pathogens such as salmonella. For example, about 3 million people (1 in 8) in Mexico suffer from food poisoning each year. Salmonella is one of the most important foodborne diseases in Mexico. These contaminants enter the supply chain in a variety of ways, rendering the food unsafe for consumption. Various methods of contamination include the use of organic waste as fertilizer on agricultural land, the introduction of feces into irrigation water, direct contamination from cattle, wildlife, and birds, and post-harvest issues such as industrial hygiene.
Long-term exposure to oxalates in staple foods such as peaches can adversely affect the immune system, interfere with normal development, and even cause cancer issues. Also, rapid climate change may increase the risk of food poisoning. They are more susceptible to spoilage during periods of extreme heat and cold due to climate change and will stay fresh longer if stored at low temperatures (32°F to 55°F). This factor is expected to hamper the growth of the market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Anklam Extrakt GmbH: This company focuses on producing and developing plant-based extracts. It also offers different types of Artichokes solutions such as Artichoke leaf powdered extract.
The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Thousand" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments.
The market is experiencing robust growth driven by various factors such as the increasing demand for functional foods and dietary supplements. Artichokes, renowned for their edible flower buds rich in nutrients like chromium, fiber, folate, and potassium, offer numerous potential health benefits. Studies suggest their antioxidant properties, which may aid heart and liver health, combat high blood pressure, and alleviate conditions like non-alcoholic fatty liver disease. Additionally, compounds like inulin and oligofructose contribute to digestive health and may have antimicrobial and anticancer properties. With growing interest from health-conscious consumers and pharmaceutical industries, the market is witnessing significant expansion, presenting opportunities for innovation and product development. However, challenges such as seasonal dependency and food contamination must be addressed to sustain growth and meet the rising demand for this sustainable source with multifaceted applications.
The Artichoke (Cynara scolymus) Market, particularly prominent in the Mediterranean region, is fueled by its rich soluble fiber content and antioxidant properties, making it a sought-after dietary supplement. With numerous cuisines and recipes incorporating artichokes, their consumption is driven by factors like digestion and heart health. Recognized by organizations like the World Health Organization (WHO) for their functional properties and secondary metabolites such as phenolic compounds, artichokes offer diverse benefits, including antifungal and antibacterial properties. They contain chemicals that can reduce nausea, vomiting, spasms, and gas, while also lowering cholesterol levels and protecting the liver. Market dynamics, including strategic decisions and competitive analysis, influence the growth of artichoke production worldwide, attracting pharmaceutical companies for clinical trials targeting various conditions like metabolic syndrome, hypertension, and skin diseases. With a focus on medicinal properties and catering to health-conscious individuals seeking low-carbohydrate, low-glycemic-index foods, the artichoke market presents opportunities for innovation and growth.
Artichokes Market Scope |
|
Report Coverage |
Details |
Page number |
151 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.05% |
Market growth 2023-2027 |
USD 260.16 thousand |
Market structure |
Concentrated |
YoY growth 2022-2023(%) |
2.86 |
Regional analysis |
Europe, North America, Middle East and Africa, APAC, and South America |
Performing market contribution |
Europe at 46% |
Key countries |
Egypt, Algeria, Italy, Spain, and Peru |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Anklam Extrakt GmbH, CAPRICHOS DEL PALADAR SLU, Del Monte Foods Inc., Dole plc, Gaia Herbs Inc., General Mills Inc., Greenyard NV, Hawaii Pharm LLC, Herrrawi Group, Master Fruit srl, Nutra Green Biotechnology Co. Ltd., Ocean Mist Farms, Ole, Sa Marigosa Societa Consortile Arl, Semplice Agricola F.lli Piras, and Kings Plant Barn |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market forecast report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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