New York, United States , July 15, 2024 (GLOBE NEWSWIRE) -- The Global Artichokes Market Size is to Grow from USD 2.73 Billion in 2023 to USD 3.65 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 2.95% during the projected period.
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The Mediterranean region is home to the artichoke plant, which is prized for both its edible qualities and its medicinal advantages, including antimicrobial, antifungal, antibacterial, antioxidant, and anticancer effects. As it includes compounds that assist reduce nausea and vomiting, spasms, and gas, artichokes are frequently eaten as food. Artichoke leaf extract might lower cholesterol, enhance digestion, and shield the liver from harm. The artichoke plant is a kind of thistle that belongs to the sunflower family and has perennial blossoms. It is mostly grown in regions that border the Mediterranean. The product's many purported health advantages, including improved digestion, heart health, and liver health, have encouraged consumers to increase their intake, which has boosted market growth. Cynara scolymus extract taken regularly can help prevent liver damage and reduce the symptoms of non-alcoholic fatty liver disease. By encouraging the ENOS enzymes, helping in dilating blood vessels, it also lowers blood pressure. However, Cynara, or artichokes, are a seasonal flower that blooms in the spring and fall. The product's seasonality has an impact on prices; during the off-season, prices are high, which is predicted to impede market expansion.
Browse key industry insights spread across 216 pages with 110 Market data tables and figures & charts from the report on the "Global Artichokes Market Size, Share, and COVID-19 Impact Analysis, By Form (Frozen, Fresh, and Canned), By End-User (Food & Beverages, Pharmaceuticals, and Personal Care & Cosmetic), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The fresh segment is anticipated to hold the greatest share of the global artichokes market during the projected timeframe.
Based on the form, the global artichokes market is divided into fresh, frozen, and canned. Among these, the fresh segment is anticipated to hold the greatest share of the global artichokes market during the projected timeframe. Its purchasing is mostly determined by its flavor, freshness, and nutritional value. Customers find the product more enticing because of its natural look and increased knowledge of healthful, minimally processed food, which helps to fuel the segment's growth.
The food & beverages segment is anticipated to hold the largest share of the global artichokes market during the projected timeframe.
Based on the end user, the global artichokes market is divided into food & beverages, pharmaceuticals, and personal care & cosmetics. Among these, the food & beverages segment is anticipated to hold the largest share of the global artichokes market during the projected timeframe. As the product's application demand in the food sector is expanding, the food and beverage segment is expected to have a greater market share. It is extensively utilized in the preparation of various dishes, such as pasta, salads, dips, tarts, and pizza toppings.
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Europe is Expected to hold the largest share of the global artichokes market over the forecast period.
Europe is expected to hold the largest share of the global artichokes market over the forecast period. As more people are consuming nutrient-dense and organic foods, there is a greater demand for artichokes in Italy, France, Spain, and the UK. This is increasing artichokes' total sales in Europe. Due to growing consumer knowledge of the benefits and applications of artichokes, the market is growing in the region. Furthermore, the producers are investing funds in research and development initiatives aimed at broadening the uses of artichokes.
North America is predicted to grow at the fastest pace in the global artichokes market during the projected timeframe. As more customers are becoming aware of the product's health advantages, North America especially the United States is predicted to experience significant growth. Top companies in the nation's market are introducing new products with the nutritional benefits of artichokes and running advertising campaigns to meet the growing demand.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global artichokes market include Marianito Produce, Green Globe Produce Inc., Gold Coast Packing Inc., D'Arrigo Bros. Co., Tanimura & Antle Inc., Valpredo Enterprises, VoloAgri Group Inc., Mastronardi Produce Europe, Anklam Extrakt GmbH, Agro T18 Italia Srl, Gaia Herbs Inc., Master Fruit Srl, Herrawi Group, Ole, King Herbs Ltd., Others.
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Recent Developments
In March 2024, the University of Florida researchers aimed to improve artichoke preservation by means of sophisticated breeding. The RNA sequences of different artichoke cultivars would be analyzed by researchers to find genetic markers for desired qualities including extended shelf life, resistance to physiological problems, and slower postharvest degradation.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global artichokes market based on the below-mentioned segments:
Global Artichokes Market, By Form
- Fresh
- Frozen
- Canned
Global Artichokes Market, By End User
- Food & Beverages
- Pharmaceuticals
- Personal Care & Cosmetic
Global Artichokes Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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