Artichokes Market Growth and Forecast by 2028

The artichokes market was valued at US$ 3,343.42 Million in 2020 and is projected to reach US$ 4,448.21 Million by 2028; it is expected to grow at a CAGR of 3.6% from 2021 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. 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.

In 2020, Europe is the largest share holder of artichokes market. 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.

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Artichokes Market: Strategic Insights

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Market Insights

Health Benefits Associated with Artichokes

Artichoke is a rich source of potassium, magnesium, dietary fiber and other essential vitamins and minerals. It is rich in the bioactive agents such as apigenin and luteolin, and the antioxidants. The dietary fiber in artichokes helps in digestion and contributes to healthy weight loss. It also regulates the levels of blood sugar and blood cholesterol. Several studies have found that artichoke extracts contain silymarin, a flavonoid, which was found to be an anticancer agent. It has negative effect on breast cancer cells. The polyphenols and the antioxidants in artichokes like rutin, quercetin, and gallic acid, were also found to reduce the growth of cancerous cells. Artichokes aids in detoxification and help to improve liver health. The dietary fibers, cynarin and lactones and potassium content in artichoke exhibit lipidic and glycemic-reducing action, which lowered bad cholesterol, control blood sugar levels and improves heart health to a great extent. Not only this, but antioxidants present in artichokes are helpful in healthy collagen development. This improves skin health, appearance and slow down skin aging. All these health benefits associated with artichokes has encouraged consumers to include artichokes beverages and food products in their daily diet. Growing consumer inclination towards artichoke-based food products & beverages is driving the market growth significantly.

Product Type Insights

Based on product type, the global artichokes market is segmented into globe artichokes and elongated artichokes. In 2020, globe artichokes segment led the artichokes market with a higher market share and it is expected to continue its dominance during the forecast period. Globe artichoke is a vegetable crop native of the Mediterranean basin. They are fat (4–5 inches), round, and the most commercially cultivated artichokes in the world. Green globe, baby anzio, big heart are the most popular and widely consumed types of globe artichokes. It is mainly grown for its immature flower buds, which contains essential nutrients such as inulin, fibers, and minerals. Further, globe artichoke is recognized as a medicinal plant, where leaves and heads are rich source of polyphenolic compounds. Growing consumption of healthy and nutritional food among the populace is the major driving factor for the growth of the globe artichokes segment.

End Use Insights

Based on end use the global artichokes market is segmented into food processing, direct consumption, beverages processing and others. In 2020 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.

A few key players operating in the global artichokes market 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.

Report Spotlights

• Progressive industry trends in the global artichokes market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the market from 2019 to 2028
• Estimation of the demand for artichokes across various industries
• Recent developments to understand the competitive market scenario and the demand for artichokes
• Market trends and outlook coupled with factors driving and restraining the growth of the artichokes market
• Decision-making process by understanding strategies that underpin commercial interest with regard to global artichokes market growth
• Artichokes market size at various nodes of market
• Detailed overview and segmentation of the global artichokes market as well as its dynamics in the industry
• Artichokes market size in various regions with promising growth opportunities

Artichokes Market Regional Insights

The regional trends and factors influencing the Artichokes Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Artichokes Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Artichokes Market Report Scope

Artichokes Market Players Density: Understanding Its Impact on Business Dynamics

The Artichokes Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Artichokes Market, by Category

• Organic
• Conventional

Artichokes Market, by Product Type

• Globe Artichokes

• • Baby Anzio
  • Big Heart
  • Green Globe
  • Others

• Elongated Artichokes

• • Siena
  • Others

Artichokes Market, by End Use

• Direct Consumption
• Food Processing
• Beverage Processing
• Others

Company Profiles

• Caprichos del Paladar
• Agro T18 Italia Srl
• Gaia Herbs
• Master Fruit Srl 
• The Sa Marigosa Op 
• Ocean Mist 
• Herrawi Group
• Ole
• Societa Semplice Agricola F.lli Piras
• Campo de Lorca