What Is The Asparagus Market Growth?

The in-depth analysis of the historical data provides the Asparagus Market report offering Asparagus information about the market status for the forecast period. Exhaustive research and analysis of the Asparagus market segments such as, top market players across different geographical locations, their products and the end-users can help to understand the product trend, challenges, revenue, and growth factors.

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Asparagus is a green leafy vegetable with long and pointy spears and are basically grilled, roasted and steamed. It is a springtime vegetables and is predominantly grown in Michigan, California, and Washington State. It is more expensive than other vegetables as it is a seasonal crop.

The global asparagus market was valued at US$ 28,000 Mn in terms of revenue and was pegged at 8,400 KT in terms of volume in 2018

Drivers:

Growing awareness regarding the health benefits of asparagus among the consumer as it is rich in fiber, folate and vitamin K is expected to propel the market growth of asparagus. Moreover, it enhances the immunity and function of the brain and also promotes healthy digestion, thereby fueling their demand, which in turn boosting the market growth. Furthermore, it is highly rich in antioxidants that promote healthy and glowing skin. This factor is also projected to foster the market growth of the asparagus.

Market Restraints

Asparagus has been sold by using direct marketing strategy and some farmer set up stalls at villages to encourage the sale of organic products, direct marketing is less profitable as they sell the product at cheaper rates, this factor is expected to hamper the market growth of Asparagus. Moreover, the distribution of product through direct marketing is relatively weaker in the emerging region as compared to a developed region, hence, direct marketing is expected to hamper the market growth of asparagus over the forecast period.

Market Opportunities

Increasing launch of organically farmed asparagus products is projected to offer immense growth opportunities to the market of asparagus. For instance, in September 2017, Desert Farms has announced that it will launch an organic green asparagus product for the upcoming season. The Californian/Mexican based asparagus grower will grow the new product line alongside their existing operations in the Sonora region in Mexico and the harvest is expected to last between January and April 2018.

Market Trends

Increasing year-round production of asparagus is projected to boost market growth. Traditionally, asparagus was a seasonal crop, but now it is a grown year-round and is available in the market any time of the year. In addition, increasing visibility and availability, at a cheaper cost is expected to fuel the demand and also the growth of the global asparagus market over the forecast period.

Competitive Section:

Players active in the market are Altar Produce LLC, Sociedad Agrícola Virú, DanPer Trujillo S.A.C., Limgroup B.V., TEBOZA BV, 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.

Few Recent DevelopmentsStrategy:

Altar Produce LLC

  • The company focuses on offering organic, as well as conventional asparagus in order to expand its customer base

Sociedad Agricola Viru S.A.

  • The company focuses on adopting new technologies for preservation or products
  • Viru adopted IQF (Individually Quick Frozen) freezing system that aids in preserving vegetables and maintain product characteristics such as flavor, color, etc.

DanPer Trujillo S.A.C.

  • The company is focused on offering asparagus products that are frozen and canned, in order to enhance its customer base. It also focuses on offering fresh asparagus for application in various sectors such as food.

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[Note: *The PDF Brochure Includes

1) Table of Content (ToC),
2) Research Framework of the actual report, and
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Important Information that can be extracted from the Report:

♦ Assessment of the COVID-19 impact on the growth of the Asparagus Market

♦ Successful market entry strategies formulated by emerging market players

♦ Pricing and marketing strategies adopted by established market players

♦ Country-wise assessment of the Asparagus Market in key regions

♦ Year-on-Year growth of each market segment over the forecast period 2027

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In Addition, The Years Considered For The Study Are As Follows:

Historical year – 2014 to 2018
Base year – 2019
Forecast period – 2020 to 2026

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