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Artichokes Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Category ; Product Type (Globe Artichokes and Elongated Artichokes ); End Use

·5-min read

The global artichokes market was valued at US$ 931. 49 million in 2019 and is projected to reach US$ 2,079. 02 million by 2028; it is expected to grow at a CAGR of 9. 4% from 2020 to 2028. Artichoke plant is a type of thorn, enduring blooms, and individual from the sunflower family, which is for the most part developed in the nations circumscribing Mediterranean district.

New York, Aug. 30, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Artichokes Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Category ; Product Type (Globe Artichokes and Elongated Artichokes ); End Use" -
It is generally eaten when flower buds are immature.

Tender base part of the bud is fruity delightful which is cooked and eaten.Increasing focus on health and novelty food consumption among the people is main consideration driving the worldwide artichokes market.

Owing to its healthful advantages, which incorporate elevated levels of chromium, antioxidants, fiber, folate, magnesium, and nutrient C has raised its demand among consumer in recent years.In addition, number of medical researches have been conducted to discover the medicinal properties of artichokes.

Growing demand from end user industries such as food, beverages, personal care and pharmaceutical industry is expected to propel the growth of market.

Based on application the market is segmented into food processing, direct consumption, beverages processing and others.In 2020, by application, food processing segment has accounted for around 65% share in global market.

The demand for artichokes is expanding from food processing industries.Also, availability of diverse range of artichokes coupled with growing consumer inclination towards healthy food is driving the growth of artichokes market.

Artichokes are widely used in food application especially in salads and pastas.They are also used in dips, tarts and as toppings in pizza or other food.

They are boiled, steamed, grilled or roasted with sauces and flavors to make variety of dishes specially in North Africa, the Middle East, Turkey, and Armenia. Health benefits associated with artichokes has encouraged the consumers to include it in their daily diet.

By region, the artichokes market is segmented into North America, Europe, Asia Pacific (APAC), South America (SAM), and Middle East & Africa (MEA).In 2020, Europe is the largest market share holder for artichokes.

As the major artichokes producing countries are in Europe the growth in the consumption of nutritional and organic food products, the demand for artichokes has substantially gone up in Italy, France, Spain UK, which is boosting the overall sales of these products in Europe.Also, consumer’s awareness towards the uses and benefits of artichokes is also propelling the growth of the market in the region.

Moreover, the manufacturers are investing in research and development activities to diversify the use of artichokes. This has also surged the demand for the product in the region.

The ongoing pandemic has drastically altered the status of the agriculture industry and have negatively impacted the growth of the artichokes market.Being one of the labor-intensive sectors, the agriculture industry has witnessed significant impact due to COVID-19 pandemic, especially in fruits and vegetable production.

The COVID-19 outbreak has distorted operational efficiency and disrupted the value chains due to the sudden closure of national and international boundaries, creating revenue loss and damage.As per Food and Agriculture Organization, the production and supply of artichokes have been significantly impacted by the COVID-19 outbreak along with severe climatic changes.

Further, the implementation of measures to combat the spread of the virus has aggravated the situation as the cultivated artichokes must be left in the field and the harvested ones are sold at comparatively lower price.The disruptive value chain along with effect upon labor-supply has accrued to negative impact upon the growth of the artichokes market.

Moreover, the closure of food service chains has restricted the demand and consumption of artichokes. However, in the US, the impact of COVID-19 upon the consumption of artichokes is comparatively less compared to other major fruits and vegetable commodities. Nevertheless, as the economies are planning to revive their operations, the demand for artichokes is expected to rise globally. Although the focus over just in time production is another concerning factor hindering the market growth. The expanding demand of artichokes across food & beverage, pharmaceutical, and other industries along with significant investment by prominent manufacturers is expected to drive the growth for the artichokes market.

The key players providing artichokes are Caprichos del Paladar, Agro T18 Italia Srl, Gaia Herbs, Master Fruit Srl , The Sa Marigosa Op , Ocean Mist , Herrawi Group and Ole among others. Companies in this market have been continuously focusing on strategies such as product developments and strategy and business planning to expand their footprint worldwide and fulfill the growing demand of the market.

The overall global artichokes market size has been derived in accordance with to both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders, specializing in the global artichokes market.
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