Asparagus Market Poised for Robust CAGR of over 3.1% through 2027

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Key excerpts from Future Market Insights’ latest report on the global asparagus market project that by the end of 2027, around 10,300,521.7 metric tonnes (MT) of asparagus will be consumed across the globe. The sales of 10 million MT of asparagus are estimated to bring in revenues worth over US$ 37 Bn. Rising awareness among consumers regarding benefits of consuming asparagus is expected to instrument the growth in global consumption.

Asparagus Market: Global Industry Analysis and

Opportunity Assessment, 2017–2027

May 2017

Report Id : REP-GB-2588

Status : April - 17

Category : Food and Beverages

©2015 Future Market Insights, All Rights Reserved


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Asparagus Market

Key excerpts from Future Market Insights’ latest report on the global asparagus market project that by

the end of 2027, around 10,300,521.7 metric tonnes (MT) of asparagus will be consumed across the

globe. The sales of 10 million MT of asparagus are estimated to bring in revenues worth over US$ 37 Bn.

Rising awareness among consumers regarding benefits of consuming asparagus is expected to instrument

the growth in global consumption. By helping consumers boost their immunity, enhance brain function,

and at certain extent, fight cancer, asparagus will continue to be an essential vegetable rich in nutrients.

In terms of production, China is expected to remain the world’s largest asparagus producer throughout

the forecast period, 2017-2027. In 2014, China recorded production of half a million metric tonnes of

asparagus. China’s contribution to the asparagus market in Asia-Pacific will remain significant. However,

brimming demand for asparagus makes Western Europe the largest market, procuring over 40% share of

global revenues. North America is also expected to be at the forefront of expansion of the global

asparagus market, recording consumption of nearly 2 million MT of asparagus by 2016-end.

In spite of ample production and growing awareness regarding benefits of asparagus, the market is

poised to grow at a moderate place. In terms of volume, the market is projected to showcase a 2.2%

CAGR, while global asparagus revenues are projected to soar sluggishly at 3.1% CAGR during the forecast

period. The report, titled “Asparagus Market: Global Industry Analysis and Opportunity Assessment,

2017-2027,” has identifies key restraints for the growth of global asparagus sales, which include:

Farmers Opting for Direct Marketing – Farmers cultivating asparagus sell their produce by themselves,

through traditional village bazaars and roadside outlets.

©2015 Future Market Insights, All Rights Reserved 4


Asparagus Market

Large and small restaurants as well as common consumers are also preferring to purchase this farm-fresh

asparagus through direct marketing of farmers. This practice is impacting the global asparagus sales, but

at a moderate extent.

High Costs for Processing & Storage of Asparagus – The most crucial inhibitor for growth of global

asparagus sales is the need for higher capital investment in storage and processing of asparagus. Cost of

packaging, cooling and transportation is relatively high, which reduces the price per pound of asparagus.

Reduction in price per pound further leads to monetary losses for manufacturers. Processed asparagus,

such as asparagus in brine, soups, mixed vegetable products etc., being sold at higher cost price, is

expected to result in lower uptake among some sections of consumers in the world.

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Leading manufacturers of asparagus include: Altar Produce LLC, Sociedad Agrícola Virú, DanPer Trujillo

S.A.C., Limgroup B.V., TEBOZA BV, THIERMANN SPAGEL FARM, ILIOS - The Greek Asparagus Company,

BEJO SEEDS LTD., Spargelhof Elsholz Gbr, Cutter Asparagus Seed, JERSEY ASPARAGUS FARMS, INC.,

Consorzio Associazione Produttori Ortofrutticoli Foggia, Mazzoni Vivai, and California Asparagus Seed and

Transplants, Inc.

Additional Highlights from the Report -

• By the end of 2017, the report estimates that over 8.2 million MT of asparagus will consumed globally,

raking in US$ 27.7 Bn revenues

©2015 Future Market Insights, All Rights Reserved 5


Asparagus Market

• Towards the end of 2027, over three-fourth of global revenues will be accounted by sales of fresh

asparagus

• Likewise, green asparagus will also hold 75% share of global revenues throughout the forecast period,

registering revenue growth at 3.3% CAGR

©2015 Future Market Insights, All Rights Reserved 6


Table of Content

1. Global Asparagus Market Executive Summary

2. Market Taxonomy

3. Global Asparagus Market Value (US$ Mn) & Volume (MT) Forecast

3.1. Global Asparagus Growers & Association – Overview

3.2. Global Asparagus Market Trends

4. Asparagus Production & Cultivation Overview

4.1. Overview on Top 10 Asparagus Producing Countries

4.2. Overview on Production Acreage & Yield

4.3. Global Asparagus Cultivation Analysis, By Region

4.4. Global Asparagus Cultivation Analysis, By Countries

4.5. Global Asparagus Yield Analysis, By Countries

4.6. Production And Yield Comparison Overview

5. Global Asparagus Overview By Color & By Type

6. Net Trade Scenario

6.1. Overview on Asparagus Import: By top 10 Countries

©2015 Future Market Insights, All Rights Reserved

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Table of Content

6.2. Overview on Asparagus Export: By top 10 Countries

7. Pricing Analysis

8. Industry Supply Chain Analysis

8.1. Production Chain

8.2. Value Chain

9. Market Dynamics

9.1. Drivers

9.2. Restraints

9.3. Opportunity

10. Global Asparagus Market Value (Mn) & Volume (MT) Forecast, By Type

10.1. Market Snapshot, By Type

10.1.1. Basis Point Share (BPS) Analysis, By Type

10.1.2. Y-o-Y Growth Projections, By Type

10.2. Market Value (US$) & Volume (MT) Forecast By Type

10.2.1. Market Absolute $ Opportunity (US$ Mn) Analysis and Forecast, By Type

10.2.2. Canned

©2015 Future Market Insights, All Rights Reserved

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Table of Content

10.2.3. Fresh

10.2.4. Frozen

10.3. Market Attractiveness Analysis, By Type

11. Global Asparagus Market Value (Mn) & Volume (MT) Forecast, By Color

11.1. Introduction

11.1.1. Market Snapshot, By Colour

11.1.2. Basis Point Share (BPS) Analysis, By Colour

11.1.3. Y-o-Y Growth Projections, By Colour

11.2. Market Absolute $ Opportunity (US$ Mn) Analysis and Forecast, By Colour

11.2.1. White

11.2.2. Green

11.3. Market Attractiveness Analysis, By Colour

12. Global Asparagus Market Value (Mn) & Volume (MT) Forecast, By Region

12.1. Introduction

12.1.1. Market Snapshot, By Region

12.1.2. Basis Point Share (BPS) Analysis, By Region

12.1.3. Y-o-Y Growth Projections, By Region

©2015 Future Market Insights, All Rights Reserved

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Table of Content

12.2. Market Absolute $ Opportunity (US$ Mn) Analysis and Forecast By, Region

12.2.1. North America

12.2.2. Latin America

12.2.3. Eastern Europe

12.2.4. Western Europe

12.2.5. Asia-Pacific excluding Japan (APEJ)

12.2.6. Middle East and Africa (MEA)

12.3. Market Attractiveness Analysis, By Region

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