Global Artichokes Market Insights Forecasts to 2033

• The Global Artichokes Market Size was Valued at USD 2.73 Billion in 2023
• The Market Size is Growing at a CAGR of 2.95% from 2023 to 2033
• The Worldwide Artichokes Market Size is Expected to Reach USD 3.65 Billion by 2033
• North America is Expected to Grow the fastest during the forecast period.

The Global Artichokes Market Size is Anticipated to Exceed USD 3.65 Billion by 2033, Growing at a CAGR of 2.95% from 2023 to 2033.

Market Overview

The Mediterranean environments are inhabited by the artichoke plant, which is prized for both its edible qualities and its medicinal uses, including antimicrobial, antifungal, antibacterial, antioxidant, and anticancer effects. As artichokes contain compounds that assist in alleviating nausea and vomiting, gas, and spasms, they are frequently eaten as food. The extract from artichoke leaves might lower cholesterol, enhance digestion, and shield the liver from harm. The artichoke plant is a kind of thistle that belongs to the sunflower family and has perennial blossoms. It is mostly grown in nations that border the Mediterranean. Cooking and eating the tasty and fruity tender base section of the bud is recommended. The artichoke, or Cynara scolymus, is a big permanent plant that is farmed for its delicate, nut-like flavor and edible flower buds. Native to the Mediterranean, this plant has long been valued for its possible medical benefits. It has high potassium, fiber, folate, and chromium content. Furthermore, Cynara Scolymus has a soluble fiber called inulin. In recognition of this compound's health-promoting qualities, including its ability to bind water and minerals, digestibility, and fat absorption, it is used in the pharmaceutical and dietary supplement sectors. The product has become quite popular recently, according to PubMed Central (PMC), since its blossoms have the greatest antioxidant content of any vegetable. The product's increasing use in a variety of cuisines has prompted the producers to create a number of recipes, including stuff and bake artichokes. Due to its bioactive phenolic components and other minerals, it is being more and more used in cooking, making it a useful food that is propelling the expansion of the artichokes industry.

Report Coverage

This research report categorizes the market for the global artichokes market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global artichokes market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global artichokes market.

Driving Factors

The product's many purported health advantages, including improved digestion, heart health, and liver health, have encouraged consumers to increase their intake, which has boosted market growth. Cynara scolymus extract taken regularly can help prevent liver damage and reduce the symptoms of non-alcoholic fatty liver disease. By encouraging the ENOS enzymes, helping in dilating blood vessels, it also lowers blood pressure. In recent years, food products that are seen as more useful and healthful have become more popular across a wide range of industries. The tubers of the Jerusalem artichoke are rich in several functional components, including inulin, phenolic compounds, and secondary metabolites like oligofructose. Jerusalem artichokes have a lot of economic potential as an active component in products that have a low glycemic index and strong antioxidant qualities, as well as in meals that include prebiotics. Due to its prebiotic and antioxidant qualities, this product type's inulin can be a creative approach to raising food value in terms of function and profitability in the food sector. Its application as a source of bioactive components and functional meals is also acknowledged as a sustainable method of producing biofuel, which is projected to further propel market expansion.

Restraining Factors

Artichokes, also known as Cynara, are a seasonal flower that blooms in the spring and fall. The product's seasonality has an impact on prices; during the off-season, prices are high, which is predicted to impede market expansion. Also, the product's heat sensitivity makes production more difficult, particularly in the early phases of development, which is anticipated to have an impact on the market.

Market Segmentation

The global artichokes market share is classified into form and end user.

• The fresh segment is expected to hold the largest share of the global artichokes market during the forecast period.   

Based on the form, the global artichokes market is divided into fresh, frozen, and canned. Among these, the fresh segment is expected to hold the largest share of the global artichokes market during the forecast period. The primary elements affecting its purchasing are flavor, freshness, and nutrition. The product's natural look and customers' understanding of healthful, minimally processed food make it more enticing to them, which helps to fuel the segment's growth.

• The food & beverages segment is Expected to hold the largest share of the global artichokes market during the forecast period.   

Based on the end user, the global artichokes market is divided into food & beverages, pharmaceuticals, and personal care & cosmetics. Among these, the food & beverages segment is expected to hold the largest share of the global artichokes market during the forecast period. Due to the product's expanding application demand in the food sector, the food and beverage segment is probably going to have a greater market share. It's commonly used to make a variety of dishes, including pasta, salads, dips, tarts, and pizza toppings. Also, the segment's performance and development are influenced by the rising demand for canned and frozen artichokes.  

Regional Segment Analysis of the Global Artichokes Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Europe is anticipated to hold the largest share of the global artichokes market over the predicted timeframe.

Europe is anticipated to hold the largest share of the global artichokes market over the predicted timeframe. A growth in the desire for nutrient-dense and organic food items has led to a major increase in demand for artichokes in Italy, France, Spain, and the UK. This has increased sales of artichokes throughout Europe. As more individuals are becoming aware of the benefits and applications of artichokes, the market is growing in the area. In order to increase the number of uses for artichokes, the growers are also investing money in R&D initiatives. As a result, there is now more demand for the products in the region. Demand for artichokes in the European market is also being driven by growing knowledge of the health advantages of the vegetable, such as its high fiber and antioxidant content.

North America is expected to grow at the fastest pace in the global artichokes market during the forecast period. The United States in particular is anticipated to experience significant growth as a result of consumers' growing knowledge of the product's health advantages in North America. To meet the growing demand, leading companies in the national market are introducing new products with the nutritious content of artichokes and running advertising campaigns.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global artichokes market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Marianito Produce
• Green Globe Produce Inc.
• Gold Coast Packing Inc.
• D'Arrigo Bros. Co.
• Tanimura & Antle Inc.
• Valpredo Enterprises
• VoloAgri Group Inc.
• Mastronardi Produce Europe
• Anklam Extrakt GmbH
• Agro T18 Italia Srl
• Gaia Herbs Inc.
• Master Fruit Srl
• Herrawi Group
• Ole
• King Herbs Ltd.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In March 2024, through sophisticated breeding, University of Florida researchers sought to improve artichoke preservation. To find genetic markers for desired qualities including longer shelf life, resistance to physiological diseases, and slower postharvest degradation, researchers will analyze the RNA sequences of different artichoke cultivars.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global artichokes market based on the below-mentioned segments: 

Global Artichokes Market, By Form

• Fresh
• Frozen
• Canned

Global Artichokes Market, By End User

• Food & Beverages
• Pharmaceuticals
• Personal Care & Cosmetic

Global Artichokes Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa