Market Size of Asparagus Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 33.70 Billion |
| Market Size (2029) | USD 40.79 Billion |
| CAGR (2024 - 2029) | 3.89 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia-Pacific |
Asparagus Market Analysis
The Asparagus Market size is estimated at USD 33.70 billion in 2024, and is expected to reach USD 40.79 billion by 2029, at a CAGR of 3.89% during the forecast period (2024-2029).
- Asparagus, a member of the Asparagaceae family, is a perennial vegetable known for its nutritional value and versatility. With over 200 species in the family, some are cultivated for ornamental purposes or used in floral arrangements. Asparagus is low in calories and rich in nutrients, including folate, vitamins A, C, and K, and fiber. It offers potential health benefits such as improved digestion, weight management, lower blood pressure, and support for healthy pregnancy outcomes.
- It is one of the very few perennial vegetables that grow back year after year. It is an early-season crop that contributes to part-time and small-scale farming operations. Asparagus grows in temperate or subtropical climates in soils that are not too acidic. Thailand, Mexico, China, Peru, and Germany are the countries growing most of the world's asparagus. China is the world's largest producer of asparagus, followed by Peru, Mexico, and Germany respectively. According to FAOSTAT, China's production of Asparagus was 7,612,465.54 metric tons in 2021, which increased by 7,686,767.73 metric tons in 2022.
- Peru is one of the most important exporters of asparagus in the world. Its export volume of fresh asparagus is ranked number one. According to the ITC Trade map, Peru's export of asparagus was 125,386 metric tons in 2020, which increased by 129,530 metric tons in 2022. The United States of America, Spain, the United Kingdom, the Netherlands, and Belgium were the major importers of asparagus from Peru in 2022. Europe continues to remain the fastest-growing market for asparagus in 2022. According to the ITC trade map, the region imported a total of 1,439,661 metric tons of asparagus in 2022.
Asparagus Industry Segmentation
Asparagus is a perennial flowering plant whose young shoots are used as a spring vegetable. The Asparagus market report is segmented by Geography ( North America, Europe, Asia-Pacific, South America, and Middle East & Africa). The information includes Production Analysis (Volume), Consumption Analysis (Value and Volume), Export Analysis (Value and Volume), Import Analysis (Value and Volume), Price Trend Analysis, and Value Chain Analysis. The report offers the market size and forecasts in terms of volume (Metric tons) and value (USD) for all the above segments.
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Asparagus Market Size Summary
The asparagus market is poised for steady growth, driven by its nutritional benefits and versatility as a culinary ingredient. As a member of the Asparagaceae family, asparagus is valued for its low calorie count and rich nutrient profile, including vitamins A, C, K, and folate, as well as fiber. This vegetable is particularly popular in temperate and subtropical regions, with significant production in countries like China, Mexico, and Peru. Asparagus is not only a staple in fresh food products but also finds its way into soups and ready-to-eat meals, enhancing its demand. The market is further bolstered by government initiatives and partnerships among major producers, which aim to increase production and meet the rising consumer demand for fresh and processed asparagus products.
The global asparagus market is dominated by North America and Europe, with Asia Pacific also playing a significant role due to its vast agricultural land and large producing countries like China. The region's growing interest in frozen and canned asparagus, along with its use in various culinary applications, supports market expansion. The increasing focus on organic cultivation, particularly in Peru, highlights the market's potential for growth. Asparagus's health benefits, such as aiding digestion and supporting weight loss, continue to drive its popularity, prompting both private and governmental efforts to boost production. Innovations in asparagus varieties and consumer products, such as Teboza's Tasty Spears, further contribute to the market's dynamic landscape.
Asparagus Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Health Consciousness
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1.2.2 Rising Demand for Organic and Premium Products
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1.2.3 Expanding Global Trade Opportunities
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1.3 Market Restraints
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1.3.1 High Production and Labor Costs
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1.3.2 Short Shelf Life and Supply Chain Challenges
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1.4 Value Chain Analysis
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2. MARKET SEGMENTATION
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2.1 Geography
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2.1.1 North America
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2.1.1.1 United States
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2.1.1.1.1 Production Analysis
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2.1.1.1.2 Consumption Analysis & Market Size
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2.1.1.1.3 Import Market Analysis (Volume & Value)
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2.1.1.1.4 Export Market Analysis (Volume & Value)
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2.1.1.1.5 Price Trend Analysis
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2.1.1.2 Canada
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2.1.1.2.1 Production Analysis
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2.1.1.2.2 Consumption Analysis & Market Size
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2.1.1.2.3 Import Market Analysis (Volume & Value)
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2.1.1.2.4 Export Market Analysis (Volume & Value)
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2.1.1.2.5 Price Trend Analysis
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2.1.1.3 Mexico
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2.1.1.3.1 Production Analysis
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2.1.1.3.2 Consumption Analysis & Market Size
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2.1.1.3.3 Import Market Analysis (Volume & Value)
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2.1.1.3.4 Export Market Analysis (Volume & Value)
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2.1.1.3.5 Price Trend Analysis
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2.1.2 Europe
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2.1.2.1 Germany
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2.1.2.1.1 Production Analysis
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2.1.2.1.2 Consumption Analysis & Market Size
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2.1.2.1.3 Import Market Analysis (Volume & Value)
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2.1.2.1.4 Export Market Analysis (Volume & Value)
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2.1.2.1.5 Price Trend Analysis
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2.1.2.2 France
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2.1.2.2.1 Production Analysis
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2.1.2.2.2 Consumption Analysis & Market Size
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2.1.2.2.3 Import Market Analysis (Volume & Value)
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2.1.2.2.4 Export Market Analysis (Volume & Value)
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2.1.2.2.5 Price Trend Analysis
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2.1.2.3 United Kingdom
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2.1.2.3.1 Production Analysis
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2.1.2.3.2 Consumption Analysis & Market Size
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2.1.2.3.3 Import Market Analysis (Volume & Value)
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2.1.2.3.4 Export Market Analysis (Volume & Value)
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2.1.2.3.5 Price Trend Analysis
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2.1.2.4 Spain
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2.1.2.4.1 Production Analysis
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2.1.2.4.2 Consumption Analysis & Market Size
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2.1.2.4.3 Import Market Analysis (Volume & Value)
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2.1.2.4.4 Export Market Analysis (Volume & Value)
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2.1.2.4.5 Price Trend Analysis
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2.1.2.5 Netherlands
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2.1.2.5.1 Production Analysis
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2.1.2.5.2 Consumption Analysis & Market Size
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2.1.2.5.3 Import Market Analysis (Volume & Value)
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2.1.2.5.4 Export Market Analysis (Volume & Value)
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2.1.2.5.5 Price Trend Analysis
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2.1.2.6 Italy
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2.1.2.6.1 Production Analysis
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2.1.2.6.2 Consumption Analysis & Market Size
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2.1.2.6.3 Import Market Analysis (Volume & Value)
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2.1.2.6.4 Export Market Analysis (Volume & Value)
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2.1.2.6.5 Price Trend Analysis
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2.1.3 Asia-Pacific
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2.1.3.1 China
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2.1.3.1.1 Production Analysis
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2.1.3.1.2 Consumption Analysis & Market Size
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2.1.3.1.3 Import Market Analysis (Volume & Value)
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2.1.3.1.4 Export Market Analysis (Volume & Value)
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2.1.3.1.5 Price Trend Analysis
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2.1.3.2 Japan
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2.1.3.2.1 Production Analysis
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2.1.3.2.2 Consumption Analysis & Market Size
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2.1.3.2.3 Import Market Analysis (Volume & Value)
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2.1.3.2.4 Export Market Analysis (Volume & Value)
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2.1.3.2.5 Price Trend Analysis
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2.1.3.3 Australia
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2.1.3.3.1 Production Analysis
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2.1.3.3.2 Consumption Analysis & Market Size
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2.1.3.3.3 Import Market Analysis (Volume & Value)
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2.1.3.3.4 Export Market Analysis (Volume & Value)
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2.1.3.3.5 Price Trend Analysis
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2.1.4 South America
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2.1.4.1 Argentina
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2.1.4.1.1 Production Analysis
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2.1.4.1.2 Consumption Analysis & Market Size
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2.1.4.1.3 Import Market Analysis (Volume & Value)
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2.1.4.1.4 Export Market Analysis (Volume & Value)
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2.1.4.1.5 Price Trend Analysis
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2.1.4.2 Peru
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2.1.4.2.1 Production Analysis
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2.1.4.2.2 Consumption Analysis & Market Size
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2.1.4.2.3 Import Market Analysis (Volume & Value)
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2.1.4.2.4 Export Market Analysis (Volume & Value)
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2.1.4.2.5 Price Trend Analysis
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2.1.5 Middle East & Africa
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2.1.5.1 United Arab Emirates
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2.1.5.1.1 Production Analysis
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2.1.5.1.2 Consumption Analysis & Market Size
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2.1.5.1.3 Import Market Analysis (Volume & Value)
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2.1.5.1.4 Export Market Analysis (Volume & Value)
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2.1.5.1.5 Price Trend Analysis
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2.1.5.2 Saudi Arabia
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2.1.5.2.1 Production Analysis
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2.1.5.2.2 Consumption Analysis & Market Size
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2.1.5.2.3 Import Market Analysis (Volume & Value)
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2.1.5.2.4 Export Market Analysis (Volume & Value)
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2.1.5.2.5 Price Trend Analysis
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2.1.5.3 South Africa
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2.1.5.3.1 Production Analysis
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2.1.5.3.2 Consumption Analysis & Market Size
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2.1.5.3.3 Import Market Analysis (Volume & Value)
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2.1.5.3.4 Export Market Analysis (Volume & Value)
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2.1.5.3.5 Price Trend Analysis
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Asparagus Market Size FAQs
How big is the Asparagus Market?
The Asparagus Market size is expected to reach USD 33.70 billion in 2024 and grow at a CAGR of 3.89% to reach USD 40.79 billion by 2029.
What is the current Asparagus Market size?
In 2024, the Asparagus Market size is expected to reach USD 33.70 billion.
