What is the global market size of Artichokes Market?

Artichokes Market size was valued at USD 2.71 billion in 2021 and is poised to grow from USD 2.77 billion in 2022 to USD 3.42 billion by 2030, growing at a CAGR of 2.34% in the forecast period (2023-2030).

Global Artichokes Market Size, Share, Growth Analysis, By Product Type(Globe artichokes, Elongated artichokes), By End Use(Food processing, Direct consumption) - Industry Forecast 2024-2031

Report ID: SQSG30C2012 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 63 | Figures: 75

Global Artichokes Market Insights

Artichokes Market size was valued at USD 2.71 billion in 2019 and is poised to grow from USD 2.77 billion in 2023 to USD 3.42 billion by 2031, growing at a CAGR of 2.34% in the forecast period (2024-2031).

The plant's blossom buds, or artichokes, are primarily grown close to the Mediterranean region. Artichokes are advantageous in medical research, genetics, liqueur, herbal tea, and cuisine due to their entire antioxidant property. In addition to this, artichokes are high in fibre, potassium, magnesium, folate, and vitamin C, which has increased consumer demand for artichokes. In contrast to the lacklustre demand in the Asia Pacific region, artichokes are predicted to have a strong market in Western Europe, North America, and Latin America. The green globe variety, one of the nine primary artichoke kinds, appears to be the most popular worldwide.

One of the elements influencing the cost is the availability of artichokes. While prices for artichokes are at their lowest in March when supplies are at their highest, they reach their highest point in the winter when demand is at its highest. The most widely consumed artichoke kind worldwide is the green globe variety. The artichokes are preserved using the required packing and preservation processes, allowing for a lengthy shelf life and international exportation over greater distances. As a result, the market for artichokes has been greatly influenced by the frozen and canned versions of the vegetable.

The chemicals silymarin and cynarin, which are contained in artichoke leaves, have powerful antioxidant effects and have been shown to be very successful at repairing healthy liver tissues and treating a number of ailments. Other than this, compactness and cleanliness are the main aspects that help the food product's marketing.

US Artichokes Market is poised to grow at a sustainable CAGR for the next forecast year.

Global Artichokes Market Report Snapshots

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On the basis of origin, the global artichokes market is segmented into:-Organic artichokes,Conventional artichokes.

Western Europe, North America, and Latin America are expected to witness increasing demand for artichokes during the forecast period, owing to increasing consumption of healthy and nutritional foods.

The Global Artichokes market is relatively fragmented, with a high level of competition. Companies are working on product differentiation and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and are forming strategic and creative partnerships with other start-up businesses to increase market share and profitability. 'Agroindustria Guadalajara', 'Unifrutti Traders Ltd.', 'Ocean Mist Farms', 'Green Globe Produce Inc.', 'DanPer Trujillo S.A.C.', 'Four Leaf Farms', 'Pistoia Orto Srl', 'Sun Impex International Foods LLC', 'Apollo Exports International Inc.', 'Baika Agricultural Cooperative', 'Baja Farm Fresh', 'Fresh Select LLC', 'Globe Artichokes Australia', 'Greenyard NV', 'Magna Produce Pty Ltd', 'The Nunes Company, Inc.', 'Rio Queen Citrus, Inc.', 'Soave Agricola SRL', 'Syngenta AG', 'D'Arrigo California'

The primary element influencing artichokes market expansion is the health benefits of artichokes. Developments in food science are the main factor driving demand in the worldwide artichoke industry. People who care about their health should take into account that artichokes are thought to assist humans regulate their blood pressure. Additionally, consumption of processed artichoke has digestive benefits, which have fueled market expansion. Further, spending more on organic supplements will drive the artichokes market. The total amount spent on natural supplements has gone risen as more people try to live healthier lives. This element has had a direct impact on the worldwide artichoke market's growth curve. Increasing awareness about health in population is expected to flourish the market growth of artichokes market globally.

Recent studies found that, in people who already have liver disease, artichokes may assist to improve their condition and prevent further liver damage. Researchers summarized the effects of artichoke supplementation on the concentration of the liver enzymes alanine transaminase (ALT) and aspartate aminotransferase (AST) in patients with nonalcoholic fatty liver disease (NAFLD) and other metabolic conditions in a systematic review and meta-analysis of eight studies. Serum ALT and AST concentrations are frequently used biomarkers to evaluate liver function and are thought to be indications of metabolic syndrome and NAFLD.

In 2021, the Europe region led the global Artichokes market. The growth of the regional market can be attributed to the fact that the primary artichoke-producing nations are located in Europe, Europe held the greatest market share for artichokes in 2021. The demand for artichokes has significantly increased in Italy, France, Spain, and the UK due to the rise in the consumption of nutritive and organic food products, which is boosting their overall sales in Europe. The market is expanding in the area as a result of consumer awareness of the uses and advantages of artichokes. Additionally, the producers are spending money on R&D projects to expand the applications for artichokes. The demand for the goods in the area has also increased as a result.

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Global Artichokes Market Size, Share, Growth Analysis, By Product Type(Globe artichokes, Elongated artichokes), By End Use(Food processing, Direct consumption) - Industry Forecast 2024-2031

Global Artichokes Market Insights

Global Artichokes Market Report Snapshots

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