An Incisive, In-depth Analysis on the Asparagus Market
This study offers a comprehensive, 360 degree analysis on the Asparagus market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Asparagus market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Asparagus is preferred as an ingredient in soups and fresh food products
Asparagus is actively sought by major companies as a key ingredient in soups on account of its nutritive properties and palatable taste. Asparagus is widely predicted to become the primary choice in the soup manufacturing industry as many companies already make soup with asparagus and this is only expected to grow in the future. As a vegetable, asparagus is quite popular to prepare ready-to-eat foods, and asparagus is grated and mixed with other food products such as mixed vegetables and chicken to concoct truly delicious preparations. An increasing demand for asparagus in fresh food products such as brine and pickled asparagus, soups and sauces is likely to give a good boost to the revenue growth of the fresh segment by type in the global asparagus market.
Rising demand for organic asparagus in the global asparagus market
The number of organic growers of asparagus in the global asparagus market is rising every year because of the high demand for organic asparagus. Asparagus growers are striving to increase the yield they can obtain and this can largely be attributed to the thriving global asparagus export market. Consumers have become extremely health-conscious worldwide and this has spurred demand for both the production and consumption of organic asparagus. Organic asparagus is particularly consumed in North America and Europe, and import there has grown by leaps and bounds. In the U.S state of Kentucky for example, growing organic asparagus has become something of a recent trend. The produce is exported to those countries where demand is high and Kentucky has the maximum asparagus produced organically when compared to any other region in the world.
Fresh asparagus is the most widely consumed in the global asparagus market
Fresh asparagus is highly preferred over its canned and frozen counterparts in the global asparagus market. Future Market Insights estimates the fresh segment of the global asparagus market to account for nearly 74% market share by the end of the year 2017 and this segment is likely to remain the dominant segment by type in the global asparagus market, showcasing a gain of 170 BPS by 2027 over 2017. The shelf life of fresh asparagus can be extended by pickling the asparagus, adding preservatives or even keeping it in brine. It is very easy to store asparagus products in any of these forms and they can even be enjoyed for the entire year. In the global asparagus market, pickled and brine asparagus is widely available in glass jars, cans or bottles.
Market opportunity in excess of US$ 20 Bn in the fresh asparagus market
The growing popularity of fresh asparagus is evident from the increasing demand by consumers globally and as a result, the fresh segment is estimated to account for a Y-o-Y growth of 2% in value terms in the year 2017, which is expected to rise to 3.1% by the end of the forecast period. The fresh segment is estimated to record a market revenue of more than US$ 20 Bn in the year 2017 and this is likely to reach a market valuation almost close to US$ 30 Bn by 2027, registering a good CAGR of 3.3% in terms of value during the forecast period – the highest among all the type segments of the global asparagus market. This gain in terms of value of the fresh asparagus segment will largely be at the expense of both canned and frozen asparagus segments in the global asparagus market. The fresh segment created absolute dollar opportunity of over US$ 550 Mn in 2016 over 2015; while an incremental opportunity of approximately US$ 8 Bn can be safely assumed between 2017 and 2027.
Future Market Insights has carefully studied and provided an expert analysis of the global asparagus market in a new publication titled ‘Asparagus Market: Global Industry Analysis and Opportunity Assessment 2017-2027’. We have covered the global asparagus market on the basis of key metrics such as CAGR, incremental dollar opportunity, absolute dollar opportunity and Y-o-Y growth rate. We have analysed the historical trends in the global asparagus market and have given our predictions regarding the future trends that are likely to impact the global asparagus market.
We have made certain assumptions and used a few acronyms for the purpose of preparing the global asparagus market report. Our readers would be advised to acquaint themselves with this section to ensure that they are able to completely understand our approach in the report. In the global asparagus market analysis section, we have looked at the consumption statistics in terms of metric tonnes. The global asparagus market forecast by type, colour and region; including Basis Point Share analysis and Y-o-Y growth projections for each segment are absolutely vital in forming a complete picture of the global asparagus market.
An important section of the global asparagus market speaks at length about the market dynamics. A number of macroeconomic factors that are out of an individual organisation’s control can impact the global asparagus market. These are thoroughly detailed in the macroeconomic factors sub section. This section also includes drivers from both the supply and demand side, restraints that could potentially impede the growth of the global asparagus market, opportunities that could be exploited and some trends to look forward to in the future.
After an exhaustive study of the global asparagus market dynamics, it is highly recommended to glance at the competitive landscape that can be anticipated in the global asparagus market. For our readers’ convenience, we have provided a comprehensive market dashboard and structure. We have profiled more than 10 of the most prominent and well-known companies actively involved in the global asparagus market. A broad company overview, regional market presence, and information on key business strategies deliver all the necessary information to key stakeholders. We have given a value addition in the global asparagus market report in terms of major takeaways and strategies that could be particularly helpful for any organisation wishing to try its luck in the global asparagus market.
An equally important section is the regional asparagus market size and forecast. We have highlighted the global asparagus market value share and the BPS for both the years 2017 as well as 2027. We have spoken in brief about the CAGR and Y-o-Y growth that can be reasonably assumed for each region. This could be particularly relevant for stakeholders wishing to target only select regions or countries that are poised to be the most dynamic and record the highest growth in the global asparagus market.
Before entering the global asparagus market, it is critical to tackle the most pressing issue –the so called P word (pricing). Pricing has a substantial impact on every player in the value chain. The global asparagus market report has given relevant information pertaining to the producer prices, trader prices and processed product prices that are for the benefit of manufacturers, retailers, distributors and customers respectively. The bulk/wholesale price and the price per ton in terms of U.S dollars provide all the required information necessary to make an informed pricing decision in the global asparagus market.
Along with the pricing, it would do our readers well to refer to the global asparagus market industry supply chain analysis. The global asparagus market production chain makes it extremely easy to understand the relationship between genetic harvests, irrigation techniques, and fresh, frozen and canned asparagus in both the asparagus domestic as well as export market. This is followed by the value chain analysis that touches upon the relation between growers, importers, food product manufacturers, suppliers and processors and the distribution channels that make the global asparagus market function almost like a well-oiled machine today.
The global asparagus market report begins with an overview of global asparagus growers and associations. Some of the most important statistics pertaining to the global asparagus market such as market value, CAGR, the largest regional market, producers and global asparagus market players can be quickly gleaned from this brief but succinct section. The overall approach to be taken in the global asparagus market, the regions to target along with differentiating strategies that can be adopted to truly succeed in the global asparagus market are all provided here. Our readers pressed for time can be advised to refer to this section first. The overview is followed by the global asparagus market taxonomy.
In the production analysis section, we have touched upon the regional production trends in the global asparagus market. The cultivation figures in terms of hectares have been mentioned for every studied section and the total yield and production figures are also provided. The most prominent countries in each geographic region of the global asparagus market have been studied here and this could be read in tandem with the regional market attractiveness section to make all-important strategic business decisions.