Pune, May 16, 2023 (GLOBE NEWSWIRE) -- A global Food and beverages business-consulting firm, Maximize Market Research, has published a market intelligence and competitive landscape report on the “Artichokes Market”. The report is a combination of primary and secondary data and domain expert has analyzed the Artichokes Market from a local and a global point of view. Over the forecast period, Maximize Market Research expects, the market to grow from USD 2.71 Bn. in 2022 to USD 3.38 Bn in 2029 at a CAGR of 3.2 percent.
Artichokes Market Report Scope and Research Methodology
| Market Size in 2022 | USD 2.71 Bn. |
| Market Size in 2029 | USD 3.38 Bn. |
| CAGR | 3.2 percent (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2022 |
| Number of Pages | 270 |
| No. of Tables | 115 |
| No. of Charts and Figures | 112 |
| Segment Covered | Form and End-User |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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The goal of the Artichokes market report is to estimate market sizes in various countries and segments during the past historic period and project those values out for the forecast period. The qualitative as well as quantitative characteristics of the industry have also been covered in the report. Furthermore, Artichoke’s market research provides in-depth details on important variables such as motivating factors and obstacles that are expected to determine the market's future growth. Along with a thorough analysis of the competitive landscape and the product offerings of major companies, the report also includes available and upcoming opportunities for stakeholders to invest in the Artichokes market. The scope of the report includes a detailed analysis of regional markets for the Artichokes Market.
The market report provides a detailed description of major segments with various sub-segments. Both primary and secondary collection methods were used to collect the data for the Artichokes. Primary research sources include press releases, yearly reports, government websites, and the opinions of numerous specialists, analysts, experts, and researchers from different companies in Artichokes the industry. Political, social, economic, and other market scenarios are examples of secondary sources.
Artichokes Market Overview
Artichokes are a domesticated variety of wild cardoon, which is found in the Mediterranean area. Artichokes are popular for their edibility and their numerous health benefits including antimicrobial, antifungal, antibacterial, antioxidant, and anticancer properties. It helps to reduce nausea and vomiting, spasms, and gas. It is used in the dietary supplements and pharmaceutical industries due to health-enhancing properties and ability to bind minerals and water.
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Artichokes Market Dynamics
Artichoke is an effective anti-inflammatory drug used for gastrointestinal disease, hematology, respiratory, skin disease, and abnormal adrenal cortex function. They help to prevent chronic diseases including heart and cancer disease. The increasing incidence of high blood pressure needs natural and alternative therapies to manage the health conditions. As a result, growing awareness about the medical properties of the artichokes boosts market growth.
The increasing consumer inclination towards artichoke-based food products and beverages, the availability of Artichokes, the growing consumer focus on health as well as novelty food consumption, and the increasing popularity of Mediterranean cuisine in various parts of the world are the fuelling factors for the growth of the market.
The increasing awareness about the functional benefits of the Jerusalem Artichokes and the growing use of the artichokes in the food and beverages sectors. The enormous properties of the pharmaceuticals associated with Artichokes such as antibacterial, anti-oxidative, anti-HIV and anti-carcinogenic and the increasing use of Artichokes in the cosmetics and personal care industry are the factors that help to influence the market demand. The market growth is expected to be restrained by the limited geographic distribution and seasonality of artichoke production over the forecast period.
Artichokes Market Regional Insights
Europe is expected to grow at a CAGR of 15.6 percent during the forecast period. The presence of large Artichokes producer countries such as Italy, Spain, and France and growing awareness regarding the health benefits of artichokes including their antioxidants and high fiber content are the factors that are responsible for the growth of the regional market. In Europe, Italy is the dominant artichoke market thanks to the increasing use of artichoke extract as a dietary supplement in the food and beverages sector.
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North America is expected to have significant growth for the Artichokes Market over the forecast period. The regional market is driven by the increasing consumer interest in healthy and plant-based diets and growing awareness about the health benefits of Artichokes and the launching of new products with nutritional benefits by leading key players and the growing popularity of the Jerusalem artichoke in the production of the bioproducts and biomass using native North American plant.
Artichokes Market Segmentation
By Form
- Fresh
- Frozen
- Canned
On the basis of the Form, the market is categorized into Fresh, Frozen, and Canned. In 2022, the Fresh Artichokes segment held the Artichokes Market with the largest revenue share of 32 percent and is expected to grow at a significant rate during the forecast period. Fresh Artichokes are more health-conscious and seek out fresh nutrient-dense products. The increasing demand for Fresh Artichokes is due to their high consumption and taste, freshness, and nutritional properties. The growing awareness of healthy minimally processed food help to influence market growth.
By End-use
- Food & Beverages
- Pharmaceuticals
- Personal Care & Cosmetic
On the basis of the End-Use, the market is segmented into Food & Beverages, Pharmaceuticals, and Personal Care & Cosmetic. The food and Beverages segment is expected to grow at the highest CAGR for the Artichokes Market during the forecast period. The segment growth is driven by the increasing demand for frozen and canned Artichokes in several food and beverages industries. It is used in preparing various cuisines such as salads, dips and pasta and toppings in pizza.
Artichokes Market Key Competitors include:
- Ocean Mist Farms (U.S)
- Marianito Produce (U.S)
- Green Globe Produce Inc. (U.S)
- Gold Coast Packing Inc. (U.S)
- D'Arrigo Bros. Co. (U.S)
- Tanimura & Antle Inc. (U.S)
- Valpredo Enterprises (U.S)
- Castellini Company LLC - (U.S)
- Agroittica Lombarda (Italy)
- Groupe Soufflet (France)
- Trapani Artichokes (Italy)
- W. Noordam & Zonen BV (Netherlands)
- Chudleigh Farms (UK)
- La Palmeraie (France)
- Fontanara (Italy)
- VoloAgri Group Inc. (Netherlands)
- Mastronardi Produce Europe (Netherlands)
- Anklam Extrakt GmbH (Anklam, Germany)
- Agro T18 Italia Srl (Piedmont, Italy)
- Gaia Herbs Inc. (Carolina, U.S.)
- Master Fruit Srl (Sicily, Italy)
- Herrawi Group (Alexandria, Egypt)
- Ole! (Alicante, Spain)
- King Herbs Ltd. (Hunan, China)
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Key questions answered in the Artichokes Market are:
- What are Artichokes?
- What is the CAGR of the Artichokes Market?
- What was the Artichokes Market size in 2022?
- What is the expected Artichokes Market size by the end of the forecast period?
- What are the global trends in the Artichokes Market?
- What are the major challenges that the Artichokes Market could face in the future?
- What growth strategies are the players considering to increase their presence in Artichokes?
- What are the upcoming industry applications and trends for the Artichokes Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Artichokes Market?
- Who are the leading companies and what are their portfolios in Artichokes Market?
- Who dominates the largest market share in Artichokes Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by Form, End - User and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
