Global Artichokes Market: Market Outlook
Artichokes are the blossom buds of the plant which are developed significantly close to the Mediterranean area. Artichokes are rich in folate, chromium, magnesium, fiber, potassium and vitamin C. Owing to the property of artichokes it is used in the genome, medical research, herbal tea, and for cooking. Artichokes gained popularity due to the increased spending on botanical and medical research which proved artichokes flower contains a total anti-oxidant property which is known to be highest amongst the other vegetables. The concentration of artichokes cultivation is majorly in North America, Europe and some parts of South Africa.
The increasing occurrence of cardiovascular diseases are intimidating the medical fraternity along with the growing number of health-conscious people coupled with the popular vegan trend has given a thrust of market growth for artichokes. Artichoke is a seasonal flower, prices are minimum in March as supply is high but the prices reach at the peak during the rest of the year thus restraining the market for it.
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Global Artichokes Market Dynamics
Health-benefits to drive the market for artichokes
As consumers endeavor to follow a healthier lifestyle, the total spending on natural food products has increased. This factor has directly impacted the sales of organic artichoke. The compounds found on the leaves of artichoke, cynarin and silymarin, successfully regenerate healthy tissues for the liver owing to its anti-oxidant property thus curing many diseases. Artichokes also help in regulating blood pressure along with digestive benefits. With the awareness of healthy food among consumers, the health benefits by artichokes will have impetus market growth.
Application in different culinary and cuisines to drive the market for artichokes
The application of artichokes in culinary and cuisines has helped different market vendors to develop several new food recipes. The artichoke leaves are used for seasoning. To preserve the long life of artichokes necessary prevention and packaging techniques like the canned and frozen cans of artichokes are been used thus providing the consumers with culinary experience along with the health benefits triggering the sales for artichokes.
Global Artichokes Market Segmentation
Based on nature, the global artichokes market have been segmented as
Based on product type, the global artichokes market have been segmented as
- Baby Anzio
- Big Heart
- Green Globe
Based on application, the global artichokes market have been segmented as,
- Herbal Tea
- Medical research
Global Artichokes Market Key Players
Some of the key players operating in the artichokes market are Master Fruit SRL, Sirri Ustundag, Hijos De Joaquín Rodríguez SL, Caprichos Del Paladar, Danda Global Trade, Agro T18 Italia S.R.L., Olive Gardens, General Mills, Danda Global Trade, and others.
Global Artichokes Market: Opportunities
Opportunity for the new players as well as existing manufacturers prevails as there is constant research going on for increased application of the artichokes. With several food and lifestyle magazine publishing about the benefits of artichokes, this indirect marketing will prove to be beneficial for the existing players. Artichokes are considered to have more nutritional value relative to the other edible flowers thus increasing the opportunity for manufacturers to penetrate their market for health-conscious customers.
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Global Artichokes Market Regional Outlook
There many prerequisites for the cultivation of artichokes as it requires damp weather conditions. North America followed by Europe and some parts of South Africa cultivate artichokes. The coastal areas in North California are highly involved in the cultivation of artichokes making it as the commercial center. North America imports artichokes from Italy and some more parts from Europe as even after being the largest producer the demand is not met thus the market is expected to show considerable growth in these regions.
COVID-19 Impact on Artichokes Market
In the pandemic where the world is fighting against the COVID-19, it has already impacted the global economy with consequences for the food and beverage industry as well. The manufacturers are facing challenges as production scale is not up to the full potential or has come to halt, supply-chain has been hampered and the majority of trading activities have come to a stand-still. With closed markets and restaurants, low consumption, artichokes may no longer be harvested. The peak harvesting season for artichokes ranges from March to May and the major cultivating regions like North America and Europe have been hard-hit with the virus. Thus, the artichokes market is expected to witness a severe impact due to COVID-19 spread.