Artichokes Market was valued at US$2.622 billion in 2021 and is estimated to grow at a CAGR of 2.18%

NOIDA, UTTAR PARDESH, INDIA, December 12, 2023 /EINPresswire.com/ -- According to a new report published by Knowledge Sourcing Intelligence, forecasted between 2021 and 2028, the artichoke market was valued at US$2.622 billion in 2021 and is anticipated to grow at a CAGR of 2.18%.

The artichoke market is influenced by factors such as the accessibility and production of artichokes, the nutritional value of the vegetable contributing to improved digestion, the abundant presence of potassium, and beneficial artichoke chemicals supporting liver function. Technological progress is a significant driver in the expansion of the artichoke industry, and increased sales of fresh artichokes further contribute to its growth.

Artichokes, cultivated primarily in the Mediterranean, boast not only a delectable taste but also a myriad of potential health benefits. Packed with antimicrobial, antifungal, antibacterial, antioxidant, and anticancer properties, artichokes are not just a culinary delight but a nutritional powerhouse. Beyond their culinary use, artichokes are recognized for their medicinal qualities, aiding in alleviating nausea, vomiting, spasms, and gas. Furthermore, the extract from artichoke leaves has been linked to digestive support, cholesterol reduction, and liver protection. As the global demand for health-conscious food options rises, artichokes are carving a significant niche in the market, contributing to their steady growth on a global scale.

Access sample report or view details: https://www.knowledge-sourcing.com/report/artichokes-market

Categorized based on origin, artichokes can be grown organic or conventional.

Based on product type, artichokes can be globe or elongated. The globe artichoke is a vegetable crop that originates from the Mediterranean basin. This variety is characterized by its large, round shape, typically measuring 4 to 5 inches in diameter, and it holds the distinction of being the most widely grown artichoke globally. While the California green globe, known for its sizable and rounded form, is prevalent in the United States, a plethora of artichoke cultivars exist, displaying diverse attributes such as varying sizes, shapes, and colours.

In terms of end-use, the Artichokes Market is projected to experience the highest Compound Annual Growth Rate (CAGR) in the Food and Beverages segment throughout the forecast period. This growth is attributed to the rising demand for frozen and canned artichokes across various food and beverage industries. Artichokes are widely utilized in the preparation of diverse cuisines, including salads, dips, pasta, and pizza toppings.

Europe stands as a dominant force in the global artichoke import market, with leading roles played by nations like France, Italy, Belgium, Germany, and Switzerland. This prominence is influenced by the significant artichoke production in countries such as Italy, Spain, and France. The region's market growth is further propelled by a heightened awareness of the health benefits associated with artichokes, particularly their rich antioxidants and high fibre content. Within Europe, Italy emerged as the primary player in the artichoke market. This leadership position is attributed to the increasing utilization of artichoke extract, notably as a dietary supplement within the food and beverages sector. The recognition of artichokes for their health-enhancing properties has contributed to the widespread adoption of artichoke-based products, solidifying Italy's stronghold in the regional market.

Anticipated to experience substantial expansion throughout the forecast period, the Artichokes Market in North America is poised for significant growth. This trend is fuelled by a rising consumer inclination towards healthier, plant-based diets, coupled with an increasing awareness of the numerous health advantages offered by artichokes. Key players in the industry are contributing to the regional market's growth by introducing new products that boast nutritional benefits, aligning with the growing demand for health-conscious food options. Moreover, the utilization of Jerusalem artichoke in the production of bioproducts and biomass has gained noteworthy popularity in North America. Native to the region, the Jerusalem artichoke has emerged as a valuable resource for the creation of bioproducts, further contributing to the market's expansion. This multifaceted growth is indicative of the dynamic factors propelling the Artichokes Market in North America, making it a key region to watch in the evolving landscape of the global artichoke industry.

There are many market giants in this sector. Ocean Mist Farms, Roland Foods, and Cento Fine Foods to name a few. In May 2023, North American Ocean Mist Farms initiated its annual spring marketing initiative, highlighting the nutritional and health benefits of its esteemed Gold Standard artichokes. The campaign aimed to underscore the virtues of these artichokes in promoting overall well-being and dietary health. Additionally, in January 2022, World Finer Foods launched Cutting Vedge, a new brand featuring a line of frozen foods rich in protein and centered around artichoke-based products. This introduction reflected a strategic move by World Finer Foods to tap into the growing market demand for convenient, protein-rich frozen food options with a focus on the goodness of artichokes. The innovative Cutting Vedge brand brought a fresh perspective to the market, aligning with the evolving preferences of consumers seeking nutritious and flavourful choices in the frozen food segment.

The market analytics report segments the artichoke market using the following criteria:

• By Origin

o Organic
o Conventional

• By Product Type

o Globe Artichokes
o Elongated Artichokes

• By End-Use

o Food Processing
o Direct Consumption
o Beverages Processing
o Others

• By Geography

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Israel
• Others

o Asia Pacific

• Japan
• China
• India
• South Korea
• Indonesia
• Thailand
• Others

Companies Profiled:

• Caprichos del Paladar
• The ultimate artichoke
• Roland Foods
• Ocean Mist Farms
• Cento Fine Foods
• San Diego Seed Company
• The Artisan Food Company

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Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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