Asparagus Market by Type and Geography - Forecast and Analysis 2021-2025

The asparagus market share is expected to increase by USD 33.9 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 2.53%.

This asparagus market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers asparagus market segmentations by type (fresh, canned, and frozen) and geography (Europe, North America, APAC, South America, and MEA). The asparagus market report also offers information on several market vendors, including Altar Produce LLC, Bejo Zaden BV, Crystal Valley Products, Danper Trujillo SAC, Limgroup BV, Mazzoni Spa, T&G Global Ltd., Teboza BV, Virú SA, and Walker Brothers Inc. among others.

What will the Asparagus Market Size be During the Forecast Period?

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Asparagus Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The wide range of applications is notably driving the asparagus market growth, although factors such as side-effects of asparagus may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the asparagus industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Asparagus Market Driver

The wide range of applications are a major factor driving the global asparagus market share growth. The global asparagus market is driven by the growing applications of asparagus and the rising awareness of its health benefits. Asparagus finds extensive use in the healthcare, food and beverages, and cosmetics segments. Asparagus is considered medicinal as it helps in maintaining cholesterol levels and blood pressure levels. As a vegetable, asparagus is popular to prepare ready-to-eat food products and is grated and mixed with other food products such as vegetables. It has high vitamin K content, which promotes blood clotting. Its high level of vitamin B helps regulate the amino acid homocysteine, an excess of which can be a serious risk to the heart. The rise in demand for anti-aging creams drives the growth of the cosmetic segment. Asparagus helps stabilize digestion due to the high amount of fiber and protein present in it. Antioxidants and anti-inflammatories, which are found in great quantities in asparagus, are typically associated with a low risk of cancer. Therefore, the market will continue to grow positively during the forecast period.

Key Asparagus Market Trend

The rising demand for organic asparagus is another factor supporting the global asparagus market share growth. The global organic vegetable market is projected to grow at a fast rate owing to certain factors such as health awareness, technological development in the food and beverage industry, and changing food habits. Innovations in product forms, packaging, storage methods, and technology drive the global demand for organic asparagus. The major factors that prompt purchase are the quality, nutritive value, and environmental sustainability of organic products. Even though these products are more expensive than the traditional ones, consumers are willing to pay the additional cost owing to their health benefits. Organic asparagus is produced using pest management and fertilization methods that do not include synthetic compounds. They are available in puree, fresh, powdered, and frozen forms. The number of cultivators of organic asparagus is increasing every year because of the high demand from North America and Europe. Asparagus cultivators are focusing on increasing their yield to meet the growing demand. Consumers have become health-conscious, and this has spurred the demand for both the production and consumption of organic asparagus.

Key Asparagus Market Challenge

The side-effects of asparagus will be a major challenge for the global asparagus market share growth during the forecast period. Even though asparagus has several health benefits, it has some side effects when consumed in excess. There are no life-threatening side effects of eating too much asparagus, but there may be some uncomfortable side effects such as gas and smelly urine. Asparagus is not completely safe to consume during pregnancy and breastfeeding. Its extracts are used for birth control, so it might harm the hormonal balance during pregnancy. Since it is helpful in lowering the blood pressure level, if consumers using anti-hypotension medications consume asparagus, it could result in an extreme drop in the blood pressure level. Asparagus consumption is likely to cause an allergic reaction to people who are allergic to other members of the lily family, such as garlic, onions, and chives. The allergic reactions include a runny nose, hives, breathing problems, and puffiness or swelling around the mouth and lips. These adverse effects of asparagus affect the growth of the market.

This asparagus market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global asparagus market share as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the asparagus market during the forecast period.

Who are the Major Asparagus Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Altar Produce LLC
• Bejo Zaden BV
• Crystal Valley Products
• Danper Trujillo SAC
• Limgroup BV
• Mazzoni Spa
• T&G Global Ltd.
• Teboza BV
• Virú SA
• Walker Brothers Inc.

This statistical study of the asparagus market encompasses successful business strategies deployed by the key vendors. The asparagus market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Altar Produce LLC- The company offers organic asparagus for farming.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The asparagus market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Asparagus Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the asparagus market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of global packaged foods and meats includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Asparagus Market?

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34% of the market's growth will originate from Europe during the forecast period. UK, Germany and Italy are the key markets for asparagus market in Europe. Market growth in this region will be faster/slower than the growth of the market in regions.

Rising demand for frozen and packaged vegetables will facilitate the asparagus market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Type Segments in the Asparagus Market?

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The asparagus market share growth by the fresh segment will be significant during the forecast period. Fresh asparagus is preferred over canned and frozen asparagus, primarily in developed countries such as the US and across Europe. The shelf-life of fresh asparagus can be extended by pickling, adding preservatives, or keeping it in a brine solution. Fresh pickled asparagus and brine asparagus are widely available in glass jars, cans, or bottles. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the asparagus market size and actionable market insights on post COVID-19 impact on each segment.

 

Asparagus Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 2.53%
Market growth 2021-2025	$ 33.9 billion
Market structure	Fragmented
YoY growth (%)	2.04
Regional analysis	Europe, North America, APAC, South America, and MEA
Performing market contribution	Europe at 34%
Key consumer countries	US, China, UK, Germany, and Italy
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Altar Produce LLC, Bejo Zaden BV, Crystal Valley Products, Danper Trujillo SAC, Limgroup BV, Mazzoni Spa, T&G Global Ltd., Teboza BV, Virú SA, and Walker Brothers Inc.
Market dynamics	Parent market analysis, 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 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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What are the Key Data Covered in this Asparagus Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive asparagus market growth during the next five years
• Precise estimation of the asparagus market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the asparagus industry across Europe, North America, APAC, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of asparagus market vendors

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