Fresh and Packaged Asparagus Market Size, Share, Growth, And Industry Analysis, By Type (Fresh, Frozen and Preserved), By Application (Food and Others), Regional Forecast To 2031

Updated On: 08 April 2024

Fresh and Packaged Asparagus Market Report Overview

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The global fresh and packaged asparagus market size is estimated to be USD 546 million in 2022. As per our research, the market is expected to reach USD 806.46  million in 2030, exhibiting a CAGR of 5.0% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with fresh and packaged asparagus experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.  The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

The flowering perennial plant species known as asparagus is a springtime vegetable. Like the closely related allium species, onions, and garlic, it was formerly included in the lily family. However, the Liliaceae have since been divided, and the onion-like plants are now included in the family Amaryllidaceous, while asparagus is included in the asparagusate. The natural range of Asparagus officinalis varies according to the source, although it often includes the majority of Europe and western temperate Asia. It is frequently used as a crop for vegetables.

Protein, vitamin C, alpha-carotene, vitamin K, vitamin E, niacin, folic acid, phosphorus, potassium, and a few trace minerals are among the nutrients found in asparagus (such as copper and chromium). Asparagus contains trace minerals that aid in controlling how insulin moves glucose from the blood to the cells. These elements are anticipated to boost asparagus consumption and contribute favorably to market expansion.

COVID-19 Impact: Closure of Restaurants Due to Pandemic to Hamper Market Growth

There are numerous offline and online food chains in the worldwide food and beverage sector. The enterprises that process raw food materials, produce, and distribute prepared and packaged foods, together with alcoholic and non-alcoholic beverages, are included in the food and beverage industry. Before the COVID-19 epidemic, the rise in the number of consumers who are always on the go and the increased use of ready-to-eat foods were the main drivers of the food and beverage industry's growth. Other growth-promoting elements for the food and beverage business included the constantly rising per capita income, population, and changing lifestyles. However, the closure of restaurants and other seating spaces is one of the major issues that has an impact on the food & beverage industry since the pandemic.

Latest Trends

"High Presence of Amino Acids to Fuel Market Growth"

The stem's thickness reveals the age of the plant, and thicker stems on older plants get woody. Due to their distinct flavor, asparagus's immature shoots are utilized as spring vegetables. Zinc, calcium, magnesium, vitamin B6, and dietary fiber are all present in asparagus in good amounts. It serves as an aphrodisiac because of its diuretic effects and qualities. Asparagus is high in the amino acid asparagine and contains 93% water.

Fresh and Packaged Asparagus Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into fresh, frozen and preserved.

In terms of product, fresh is the largest segment.

• By Application Analysis

Based on application, the market can be divided into food and others.

In terms of application, food is the largest segment.

Driving Factors

"Increased Use of Asparagus in Appetizers to Augment Market Growth"

Around the world, this plant's sprouts are prepared in a variety of ways, mainly as plates or appetizers. Asparagus can also be preserved for a long time in pickles. Due to the soil's high salt content and the vigorous growth of asparagus, typical weed growth is possible. It typically develops in settings found in the sea. Although weeds can be prevented from growing in the soil where asparagus grows by adding salt, this has the drawback that the soil cannot be utilized for other purposes, such as planting crowns in the winter or the spring. Pure asparagus was chosen first.

"Increased Perveance of Packed Foods to Enhance Market Sales"

In recent years, the consumption of freshly packed asparagus has greatly expanded worldwide because to the continuously changing and expanding eating preferences of the world's population. The demand for convenience meals is rising as a result of factors like high disposable incomes, rapid urbanization, an increase in nuclear households, and busy lives. Due to these trends, canned veggies are now a staple in households all over the world. Additionally, the market for fresh and packaged asparagus is seeing increased demand due to the accessibility of a wide variety of asparagus and the knowledge that it offers superior nutritional content and affordable prices compared to fresh fruits.

Restraining Factors

"Flatulence Property of the Plant to Impede Market Expansion"

Asparagus can induce allergy symptoms such a runny nose, breathing problems, and swelling around the lips in people who are allergic to other lily families. It can also cause gas in some people's bodies, smell in urine, and cause gas in some people who are not. These elements are anticipated to limit market expansion to some degree. This is anticipated to constraint fresh and packaged asparagus market growth.

Fresh and Packaged Asparagus Market Regional Insights

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"Asia Pacific to Dominate the Market Due to Large Production"

The top region in the world for asparagus production is Asia Pacific and holds largest portion of fresh and packaged asparagus market share. Every year, 7.35 million metric tons of asparagus are produced there. Only 4,553 metric tons of this are reportedly being exported by the nation. Given that the nation only planted about 292,000 metric tons, several analysts think this production figure is exaggerated. Critics assert that despite the fact that asparagus production in this area has been rising year, such a surge appears improbable. Harvesting of asparagus takes occurs in the provinces of Shandong, Shanxi, Hebei, Henan, and Fujian, which account for a significant portion of the nation's overall production. Additionally, the white type makes up more than half of the asparagus that is grown here.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players of fresh and packaged asparagus market are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Altar Produce (U.S.)
• DanPer (U.S.)
• Beta SA (U.S.)
• Agrizar (Mexico)
• Limgroup (France)
• Sociedad (Spain)
• Walker Plants (U.S.)

Report Coverage

This research profiles a report on fresh and packaged asparagus with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.