Artichokes Market by Form, End Use, and Region: Global Trends, Opportunity Analysis, and Industry Forecast, 2023-2029

The Global Artichokes Market size reached USD 2.71 Bn in 2022 and is expected to reach USD 3.38 Bn by 2029, growing at a CAGR of 3.2 % during the forecast period.

The artichoke plant is cultivated in the Mediterranean region and it is known for its edibility and its potential health benefits such as antimicrobial, antifungal, antibacterial, antioxidant, and anticancer properties. Artichoke is commonly consumed as a food because it contains chemicals that help to reduce nausea and vomiting, spasms, and gas. Artichoke leaf extract may help reduce cholesterol levels, improve digestion, and protect the liver against damage. According to MMR Analysis, worldwide artichoke production was 1,594,385 metric tons in 2022.

Italy, Egypt, and Spain countries are on the top that grows the most artichokes. Italy produces 378,820 metric tons, Egypt 296,899 metric tons, and Spain 199,940 metric tons of Artichokes per year. These three countries account for over 50% of global artichoke production. The growing demand for healthy and natural foods as well as the increasing popularity of Mediterranean cuisine in various parts of the world are expected to drive the Artichokes Market during the forecast period.

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Europe is the largest consumer of artichokes, with Italy and Spain being the leading consumers in the region. The artichokes market has many key players and each of them is employing different strategies to maintain and grow their market share. They are acquiring or merging with other companies to increase their product offerings, market presence, and competitiveness. Ocean Mist Farms company is one of the leading Artichokes Market key players. The company has expanded its operations to include a range of artichoke products, including fresh, frozen, and canned artichokes. They have also invested in marketing campaigns to create brand awareness and promote their products.
Report Scope:
The report provides a quantitative analysis of the current Artichokes market drivers, restraints, trends, estimations, and opportunities of the market to identify the prevailing opportunities in the market during the forecast period. PORTER's five forces analysis shows the ability of buyers and suppliers to make profit-oriented strategic decisions and build their supplier-buyer network. In-depth analysis as well as the market size and segmentation assist in determining the current Artichokes market potential. Some factors that are supposed to affect the business positively or negatively have been analyzed in this report which will give a clear futuristic view of the industry to the decision-makers.

The report presents a comprehensive analysis of the global Artichokes market to the stakeholders who want to invest in this market. The report includes past and current scenarios of the market with the forecasted market size. Report covers all the aspects of the market with a thorough study of key players that include market leaders, followers, and new entrants.

The report contains strategic profiling of top key players in the market, a wide-ranging analysis of their core competencies, and their strategies like new product launches, growths, agreements, joint ventures, partnerships, and acquisitions that apply to the businesses. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the internal or local market make the report investor’s guide. They are continuously strategizing on mergers & acquisitions for the expansion of their market share and growth opportunities during the forecast period.
Artichokes Market Dynamics:
The growing awareness of the medicinal properties of artichokes drives Artichokes Market Growth

Many pharmaceutical companies are conducting clinical trials to use artichoke extracts for medicinal purposes to treat metabolic syndrome and hypertension, which may provide opportunities for the product in the pharmaceutical sector and aid the growth of the artichoke market.Artichoke is an effective anti-inflammatory drug used mainly for skin disease, abnormal adrenal cortex function, gastrointestinal disease, hematology, respiratory, liver, eye, Nervous, rheumatism, arthritis, and tendinitis.

They are also rich in antioxidants and help to prevent chronic diseases such as cancer and heart disease. According to MMR Study, about 1.28 billion adults worldwide have high blood pressure, which is the leading cause of death worldwide. The increasing incidence of high blood pressure and the growing number of health-conscious individuals who are seeking natural and alternative therapies for managing their health conditions present potential growth opportunities for the artichoke extract market.

The Growing Awareness of Functional Properties of Jerusalem Artichokes to Drive Artichokes Market

The high nutritional value of artichokes, coupled with their medicinal properties is increasing their popularity as a healthy food choice. Consumers are becoming more health-conscious and are seeking out natural and organic food products that offer health benefits. The demand for Jerusalem artichokes has been increasing in recent years because of the growing interest in plant-based and functional foods. Jerusalem artichokes are a good source of inulin that has a prebiotic effect.

As a result, Jerusalem artichokes are being increasingly used as an ingredient in functional foods and dietary supplements. Additionally, Jerusalem artichokes are a low-carbohydrate and low-glycemic-index food, making them a desirable option for individuals with blood sugar concerns. Jerusalem artichokes are a relatively easy crop to grow, and they have a short growing cycle, which makes them an attractive option for farmers. This has led to an increase in the production of Jerusalem artichokes, which has helped to meet the growing demand for this crop. Thus, the increasing use of Jerusalem Artichokes is expected to drive the Artichokes Market during the forecast period.

The increasing use of artichokes in food and beverage industries to drive the artichoke market

Artichokes are becoming an increasingly popular ingredient in a variety of food sectors. The versatility of artichokes and their ability to be used in both savory and sweet dishes makes them an appealing ingredient for manufacturers and consumers. The health benefits of artichokes, such as their high fiber, antioxidant, and vitamin content make them popular among health-conscious consumers. Artichokes are also a good source of potassium, which is important for maintaining healthy blood pressure levels.Some fast-food chains have introduced limited-time menu items featuring artichokes, such as sandwiches or wraps with artichoke spread, or salads with artichoke hearts.

These menus are often marketed as "fresh" and "healthy" options, appealing to consumers who are looking for healthier fast-food alternatives. Artichokes also be grilled or roasted and served with a variety of sauces and seasonings such as garlic butter, balsamic vinegar, or lemon and thyme. They are versatile vegetables used in a variety of dishes and make them a popular ingredient in many different types of cuisine. In the Middle East and North Africa, artichokes are often boiled or steamed and served with a sauce made from olive oil, lemon juice, and garlic. In Turkey, artichokes are often stuffed with a mixture of rice, herbs, and spices and then roasted or baked. Thus, the artichoke market is expected to grow during the forecast period.

The limited geographic distribution and seasonality of artichoke production hampers the Artichokes Market

Artichokes are primarily grown in certain regions with specific growing conditions such as the Mediterranean region, California, and parts of South America. This may limit the availability of fresh artichokes in other regions, leading to higher prices and reduced demand. Furthermore, artichokes have a relatively short growing season, typically from March to May, which limits their availability and contributes to higher prices outside of this season. This seasonality also makes it difficult for manufacturers and retailers to maintain a consistent supply of artichoke products throughout the year. Therefore, the Artichokes Market is expected to be hampered during the forecast period.
Artichokes Market Segment Analysis:
Based on the Form, the fresh Artichokes segment held the largest revenue share of 32 % in 2022 and is expected to grow in the coming years. This form of artichoke is the most traditional and popular all over the world. Fresh artichokes are sold whole, with their leaves and stem intact, and are typically available during the peak growing season, which is from March to May. As more consumers become health-conscious and seek out fresh, nutrient-dense produce, the demand for fresh artichokes is expected to grow during the forecast period.Based on the End-use, the Food & Beverages segment is expected to grow during the forecast period. The food and beverage industry is one of the largest end users of artichokes. Artichokes are used in a variety of dishes, such as salads, dips, pasta dishes, and pizzas, and are also used as a flavoring in sauces and seasonings. Artichoke extract is also used as a dietary supplement in the food and beverage industry. Thus, the increasing use of Artichokes in various food sectors is expected to increase their demand in Food & Beverages sector.
Artichokes Market Regional Insights
The Europe Artichokes market is expected to grow at a CAGR of 15.6 % during the forecast period. Italy, Spain, and France are the major artichoke producers in Europe, accounting for a significant portion of the market demand. Italy is one of the largest producers and consumers of artichokes in the world, with the region of Puglia alone accounting for over half of Italy's artichoke production. The increasing awareness of the health benefits of artichokes such as their high fiber content and antioxidants is also driving the Artichokes market demand in Europe. In addition, the use of artichoke extract as a dietary supplement in the food and beverage industry is further boosting the demand for artichokes. They are used in a variety of traditional dishes, such as Italian artichoke risotto, Spanish artichoke and ham stew, and French artichoke and mushroom tart.

Agroittica Lombarda is an Italian company that produces artichokes and other vegetables. They offer a variety of canned artichokes, frozen artichokes, and artichoke hearts. One of their most popular products is canned artichokes, which are harvested at the peak of freshness and preserved in brine or oil to maintain their flavor and texture. These canned artichokes are versatile and used in a variety of dishes, such as salads, pasta, pizzas, and sandwiches. Agroittica Lombarda is committed to sustainable and environmentally-friendly farming practices, using natural resources and reducing waste in their production processes. They are also focused on providing high-quality products to their customers, ensuring that each artichoke is carefully selected and handled with care.

The artichokes market in the North American region is expected to experience significant growth during the forecast period. In North America, California is the largest artichoke producer, accounting for over 99% of the artichokes grown in the United States. Artichokes are also produced in Mexico and Canada but at a much smaller scale. The demand for artichokes in North America has been increasing in recent years, as consumers are becoming more interested in healthy and plant-based diets.

The artichokes market in North America is highly competitive, with a large number of players operating in the industry. Some of the leading companies in the North American artichokes market are Ocean Mist Farms, Castroville Artichoke Festival, Del Rey Artichokes, and Monterey Farms. Ocean Mist Farms is one of the largest vertically integrated artichoke growers in North America. The company is also known for their innovative packaging and marketing strategies, which have helped them to become a leader in the artichokes market.
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Artichokes Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 2.71 Bn.


Forecast Period 2023 to 2029 CAGR:
3.2 %
Market Size in 2029:
US $ 3.38  Bn.


 Segments Covered:
by Form
1.Fresh
2.Frozen
3.Canned


by End-use
1.Food & Beverages
2.Pharmaceuticals
3.Personal Care & Cosmetic



Artichokes Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Artichokes Market Key Players
1.Ocean Mist Farms (U.S)
2. Marianito Produce (U.S)
3.Green Globe Produce Inc. (U.S)
4.Gold Coast Packing Inc. (U.S)
5.D'Arrigo Bros. Co. (U.S)
6.Tanimura & Antle Inc. (U.S)
7.Valpredo Enterprises (U.S)
8.Castellini Company LLC - (U.S)
9.Agroittica Lombarda (Italy)
10.Groupe Soufflet (France)
11. Trapani Artichokes (Italy)
12.W. Noordam & Zonen BV (Netherlands)
13.Chudleigh Farms (UK)
14. La Palmeraie (France)
15.Fontanara (Italy)
16.VoloAgri Group Inc. (Netherlands)
17.Mastronardi Produce Europe (Netherlands)
18.Anklam Extrakt GmbH (Anklam, Germany)
19.Agro T18 Italia Srl (Piedmont, Italy)
20. Gaia Herbs Inc. (Carolina, U.S.)
21.Master Fruit Srl (Sicily, Italy)
22. Herrawi Group (Alexandria, Egypt)
23.Ole! (Alicante, Spain)
24.King Herbs Ltd. (Hunan, China)

FAQs:

1. Who are the key players in the Artichokes market?
Ans. Gaia Herbs Inc., Hawaii Pharm LLC, Herrrawi Group, and Master Fruit Srl are the major companies operating in the Artichokes market.

2. Which Form segment dominates the Artichokes market?
Ans. The Fresh Artichokes segment accounted for the largest share of the global Artichokes market in 2022.

3. How big is the Artichokes market?
Ans. The Global Artichokes market size reached USD 2.80 Bn in 2022 and is expected to reach USD 3.38 Bn by 2029, growing at a CAGR of 3.2 % during the forecast period.

4. What are the key regions in the global Artichokes market?
Ans. Based On the region, the Artichokes Market has been classified into North America, Europe, Asia Pacific, the Middle, East and Africa, and Latin America. Europe dominates the global Artichokes market.

5. What is the study period of this market?
Ans. The Global Artichokes Market is studied from 2021 to 2029.