Asparagus Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Global Asparagus market report presents a comprehensive analysis of the production, consumption, import, export, value chain, market drivers, and forecast to 2025. The market is segmented into geography covering the major countries involved in the production, consumption, import, and export of asparagus, globally. The market is analyzed from both quantitative and qualitative standpoints.

Market Snapshot

Market Snapshot
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Europe
Largest Market: South America
CAGR: 4.8 %

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Market Overview

The Global Asparagus market is estimated to grow at a CAGR of 4.8%, during the forecast period (2020 - 2025). Fresh organic asparagus has been a key driving factor for the market with a steadily expanding area under cultivation, especially in Mexico. According to data from the Ministry of Agriculture, Livestock, Rural Development, Fisheries and Food, the average annual growth rate of the country's asparagus production stood at 13.6%, with the production of organic asparagus primarily serving the United States, among other countries. However, the year-round domestic demand for organic asparagus in the United States outpaces the supplies from Mexico annually, which has prompted the interest in local production, such as the Jacobs, Malcolm & Burtt (JMB) beginning the combined production of conventional and organic asparagus in early 2020. Thus, the increased demand for organic asparagus is expected to further drive the global asparagus market in the coming years. Europe continued to remain the fastest-growing market for asparagus in 2019. The region imported a total of 121,229.0 metric tons of asparagus in 2019, as against 112,417.0 metric tons in 2017. The ever-growing demand is aided by rising health consciousness about the nutritional benefits of asparagus, with the vegetable shifting from the status of a culinary delicacy to an almost regular part of the European diet.

Scope of the Report

Asparagus is a perennial flowering plant whose young shoots are used as a spring vegetable. For the purpose of the study, only fresh or chilled asparagus has been considered under the scope, which has the HS code 070920, as per the UN Comtrade statistical database. The report has been segmented into geography, covering the major countries indulged in the production, consumption, and trade of asparagus, across the five major regions in the world. The review period considered for the study is 2016-2019 and the forecast period is 2020-2025.

Geography
North America
United States
Production Analysis
Consumption Analysis & Market Size
Import Market Analysis (Volume & Value)
Export Market Analysis (Volume & Value)
Price Trend Analysis
Canada
Production Analysis
Consumption Analysis & Market Size
Import Market Analysis (Volume & Value)
Export Market Analysis (Volume & Value)
Price Trend Analysis
Mexico
Production Analysis
Consumption Analysis & Market Size
Import Market Analysis (Volume & Value)
Export Market Analysis (Volume & Value)
Price Trend Analysis
Europe
Germany
Production Analysis
Consumption Analysis & Market Size
Import Market Analysis (Volume & Value)
Export Market Analysis (Volume & Value)
Price Trend Analysis
France
Production Analysis
Consumption Analysis & Market Size
Import Market Analysis (Volume & Value)
Export Market Analysis (Volume & Value)
Price Trend Analysis
United Kingdom
Production Analysis
Consumption Analysis & Market Size
Import Market Analysis (Volume & Value)
Export Market Analysis (Volume & Value)
Price Trend Analysis
Spain
Production Analysis
Consumption Analysis & Market Size
Import Market Analysis (Volume & Value)
Export Market Analysis (Volume & Value)
Price Trend Analysis
Netherlands
Production Analysis
Consumption Analysis & Market Size
Import Market Analysis (Volume & Value)
Export Market Analysis (Volume & Value)
Price Trend Analysis
Italy
Production Analysis
Consumption Analysis & Market Size
Import Market Analysis (Volume & Value)
Export Market Analysis (Volume & Value)
Price Trend Analysis
Asia-Pacific
China
Production Analysis
Consumption Analysis & Market Size
Import Market Analysis (Volume & Value)
Export Market Analysis (Volume & Value)
Price Trend Analysis
Japan
Production Analysis
Consumption Analysis & Market Size
Import Market Analysis (Volume & Value)
Export Market Analysis (Volume & Value)
Price Trend Analysis
Australia
Production Analysis
Consumption Analysis & Market Size
Import Market Analysis (Volume & Value)
Export Market Analysis (Volume & Value)
Price Trend Analysis
South America
Argentina
Production Analysis
Consumption Analysis & Market Size
Import Market Analysis (Volume & Value)
Export Market Analysis (Volume & Value)
Price Trend Analysis
Peru
Production Analysis
Consumption Analysis & Market Size
Import Market Analysis (Volume & Value)
Export Market Analysis (Volume & Value)
Price Trend Analysis
Middle East & Africa
United Arab Emirates
Production Analysis
Consumption Analysis & Market Size
Import Market Analysis (Volume & Value)
Export Market Analysis (Volume & Value)
Price Trend Analysis
Saudi Arabia
Production Analysis
Consumption Analysis & Market Size
Import Market Analysis (Volume & Value)
Export Market Analysis (Volume & Value)
Price Trend Analysis
South Africa
Production Analysis
Consumption Analysis & Market Size
Import Market Analysis (Volume & Value)
Export Market Analysis (Volume & Value)
Price Trend Analysis

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Key Market Trends

Increasing Demand for Organic Asparagus

The emerging demand for organic asparagus is currently driving the asparagus market, globally. The markets for organic asparagus is majorly dominated by North America and Europe, with the regions substantially increasing the import as well as the production of organic asparagus in recent years. Although organically cultivated asparagus is at its nascent stage in Peru, the second-largest producer of asparagus in the world, the country is steadily raising its export-driven organic cultivation, as per Peruvian Asparagus Importer’s Association. Moreover, organic asparagus cultivation is concentrated in central Mexico for supplies to the United States, having several growers like Pampa Store, which now engages in year-round production with the purchase of 300 ha of land in the north-east of Mexico, bordering the state of Texas, United States, in 2019. According to the Organic Produce Network, in January 2020, a case of organic asparagus weighing 11 pounds, produced in Mexico, had a price of USD 64.0-65.0 on the Los Angeles Wholesale Produce Market, which is almost USD 6.0 per pound wholesale price, that can be attributed to the cost of year-round availability of the vegetable on market shelves. As a result, the Jacobs, Malcolm & Burtt (JMB) plans to undertake the production of organic production in early 2020, with a view to aid the year-round domestic demand in the country. These developments are further anticipated to drive the global asparagus market, during the forecast period.

Global Asparagus Market - Production in metric ton, Mexico, 2016-2018

Europe - The Fastest Growing Market

Europe was the fastest-growing market for asparagus in 2019. The region witnessed a massive growth in domestic demand, which can be primarily attributed to the increasing awareness about the nutritional benefits of asparagus. According to the British Asparagus Association, the demand for the vegetable grew by almost 540% in the United Kingdom between the period 2004-2014. Apart from the growing imports, a sizeable portion of the domestic demand is also driven by home-grown varieties, such as Vittorio or white asparagus, which was first bred in northern Italy. According to Global Plant Genetics, the seeds of the Vittorio variety sold out well ahead of the 2019-2020 growing season, with domestic producers in northern and central Europe increasingly inclining towards the high-yielding and flavorful cultivar. Europe also produced a total quantity of 332,126.0 metric tons of asparagus with a total harvested area of 62,727.0 hectares in 2018, when compared to 305,859.0 metric tons and 58,306.0 hectares in 2016. Moreover, the region also imported a total of 121,229.0 metric tons of asparagus in 2019, as against 112,417.0 metric tons in 2017.

Global Asparagus Market - Import Volume in metric ton, Europe, 2017-2019

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Value Chain Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Geography

      1. 5.1.1 North America

        1. 5.1.1.1 United States

          1. 5.1.1.1.1 Production Analysis

          2. 5.1.1.1.2 Consumption Analysis & Market Size

          3. 5.1.1.1.3 Import Market Analysis (Volume & Value)

          4. 5.1.1.1.4 Export Market Analysis (Volume & Value)

          5. 5.1.1.1.5 Price Trend Analysis

        2. 5.1.1.2 Canada

          1. 5.1.1.2.1 Production Analysis

          2. 5.1.1.2.2 Consumption Analysis & Market Size

          3. 5.1.1.2.3 Import Market Analysis (Volume & Value)

          4. 5.1.1.2.4 Export Market Analysis (Volume & Value)

          5. 5.1.1.2.5 Price Trend Analysis

        3. 5.1.1.3 Mexico

          1. 5.1.1.3.1 Production Analysis

          2. 5.1.1.3.2 Consumption Analysis & Market Size

          3. 5.1.1.3.3 Import Market Analysis (Volume & Value)

          4. 5.1.1.3.4 Export Market Analysis (Volume & Value)

          5. 5.1.1.3.5 Price Trend Analysis

      2. 5.1.2 Europe

        1. 5.1.2.1 Germany

          1. 5.1.2.1.1 Production Analysis

          2. 5.1.2.1.2 Consumption Analysis & Market Size

          3. 5.1.2.1.3 Import Market Analysis (Volume & Value)

          4. 5.1.2.1.4 Export Market Analysis (Volume & Value)

          5. 5.1.2.1.5 Price Trend Analysis

        2. 5.1.2.2 France

          1. 5.1.2.2.1 Production Analysis

          2. 5.1.2.2.2 Consumption Analysis & Market Size

          3. 5.1.2.2.3 Import Market Analysis (Volume & Value)

          4. 5.1.2.2.4 Export Market Analysis (Volume & Value)

          5. 5.1.2.2.5 Price Trend Analysis

        3. 5.1.2.3 United Kingdom

          1. 5.1.2.3.1 Production Analysis

          2. 5.1.2.3.2 Consumption Analysis & Market Size

          3. 5.1.2.3.3 Import Market Analysis (Volume & Value)

          4. 5.1.2.3.4 Export Market Analysis (Volume & Value)

          5. 5.1.2.3.5 Price Trend Analysis

        4. 5.1.2.4 Spain

          1. 5.1.2.4.1 Production Analysis

          2. 5.1.2.4.2 Consumption Analysis & Market Size

          3. 5.1.2.4.3 Import Market Analysis (Volume & Value)

          4. 5.1.2.4.4 Export Market Analysis (Volume & Value)

          5. 5.1.2.4.5 Price Trend Analysis

        5. 5.1.2.5 Netherlands

          1. 5.1.2.5.1 Production Analysis

          2. 5.1.2.5.2 Consumption Analysis & Market Size

          3. 5.1.2.5.3 Import Market Analysis (Volume & Value)

          4. 5.1.2.5.4 Export Market Analysis (Volume & Value)

          5. 5.1.2.5.5 Price Trend Analysis

        6. 5.1.2.6 Italy

          1. 5.1.2.6.1 Production Analysis

          2. 5.1.2.6.2 Consumption Analysis & Market Size

          3. 5.1.2.6.3 Import Market Analysis (Volume & Value)

          4. 5.1.2.6.4 Export Market Analysis (Volume & Value)

          5. 5.1.2.6.5 Price Trend Analysis

      3. 5.1.3 Asia-Pacific

        1. 5.1.3.1 China

          1. 5.1.3.1.1 Production Analysis

          2. 5.1.3.1.2 Consumption Analysis & Market Size

          3. 5.1.3.1.3 Import Market Analysis (Volume & Value)

          4. 5.1.3.1.4 Export Market Analysis (Volume & Value)

          5. 5.1.3.1.5 Price Trend Analysis

        2. 5.1.3.2 Japan

          1. 5.1.3.2.1 Production Analysis

          2. 5.1.3.2.2 Consumption Analysis & Market Size

          3. 5.1.3.2.3 Import Market Analysis (Volume & Value)

          4. 5.1.3.2.4 Export Market Analysis (Volume & Value)

          5. 5.1.3.2.5 Price Trend Analysis

        3. 5.1.3.3 Australia

          1. 5.1.3.3.1 Production Analysis

          2. 5.1.3.3.2 Consumption Analysis & Market Size

          3. 5.1.3.3.3 Import Market Analysis (Volume & Value)

          4. 5.1.3.3.4 Export Market Analysis (Volume & Value)

          5. 5.1.3.3.5 Price Trend Analysis

      4. 5.1.4 South America

        1. 5.1.4.1 Argentina

          1. 5.1.4.1.1 Production Analysis

          2. 5.1.4.1.2 Consumption Analysis & Market Size

          3. 5.1.4.1.3 Import Market Analysis (Volume & Value)

          4. 5.1.4.1.4 Export Market Analysis (Volume & Value)

          5. 5.1.4.1.5 Price Trend Analysis

        2. 5.1.4.2 Peru

          1. 5.1.4.2.1 Production Analysis

          2. 5.1.4.2.2 Consumption Analysis & Market Size

          3. 5.1.4.2.3 Import Market Analysis (Volume & Value)

          4. 5.1.4.2.4 Export Market Analysis (Volume & Value)

          5. 5.1.4.2.5 Price Trend Analysis

      5. 5.1.5 Middle East & Africa

        1. 5.1.5.1 United Arab Emirates

          1. 5.1.5.1.1 Production Analysis

          2. 5.1.5.1.2 Consumption Analysis & Market Size

          3. 5.1.5.1.3 Import Market Analysis (Volume & Value)

          4. 5.1.5.1.4 Export Market Analysis (Volume & Value)

          5. 5.1.5.1.5 Price Trend Analysis

        2. 5.1.5.2 Saudi Arabia

          1. 5.1.5.2.1 Production Analysis

          2. 5.1.5.2.2 Consumption Analysis & Market Size

          3. 5.1.5.2.3 Import Market Analysis (Volume & Value)

          4. 5.1.5.2.4 Export Market Analysis (Volume & Value)

          5. 5.1.5.2.5 Price Trend Analysis

        3. 5.1.5.3 South Africa

          1. 5.1.5.3.1 Production Analysis

          2. 5.1.5.3.2 Consumption Analysis & Market Size

          3. 5.1.5.3.3 Import Market Analysis (Volume & Value)

          4. 5.1.5.3.4 Export Market Analysis (Volume & Value)

          5. 5.1.5.3.5 Price Trend Analysis

  6. 6. MARKET OPPORTUNITIES & FUTURE TRENDS

  7. 7. IMPACT OF COVID-19

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Frequently Asked Questions

The Asparagus Market market is studied from 2016 - 2026.

The Asparagus Market is growing at a CAGR of 4.8% over the next 5 years.

Europe is growing at the highest CAGR over 2021- 2026.

South America holds highest share in 2020.

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