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 |
Major Players*Disclaimer: Major Players sorted in no particular order |
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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, growing at a CAGR of 3.89% during the forecast period (2024-2029).
- Asparagus is a vegetable that belongs to the Asparagaceae family. There are more than 200 species within this plant family. Some species are grown as ornamental plants, and florists use others in corsages and arrangements. Asparagus is low in calories and a great source of nutrients, including folate, vitamins A, C, and K, and fiber.
- Additionally, asparagus provides many potential health benefits, including improved digestion, weight loss, lower blood pressure, and 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.
- Furthermore, asparagus is actively sought by major companies as a key ingredient in soups on account of its nutritional properties and palatable taste. As a vegetable, asparagus is quite popular in preparing ready-to-eat foods, and asparagus is grated and mixed with other food products, such as mixed vegetables. Increasing demand for asparagus in fresh food products such as brine and pickled asparagus is likely to boost the revenue growth of the market studied.
- Moreover, government initiatives and increasing partnerships between significant producers in the market are projected to propel the market growth over the forecast period. For instance, in 2020, Applewood Fresh Growers LLC partnered with New Era's American Asparagus to offer fresh Michigan asparagus and its apples. Michigan is now the giant asparagus-growing region in the United States.
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 ton) and value (USD million) 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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1.3 Market Restraints
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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.
