Market Overview

The global asparagus market was valued at USD 35.73 billion in 2024 and is projected to grow from USD 36.61 billion in 2025 to USD 46.63 billion by 2032, registering a CAGR of 3.52% during the forecast period. In 2024, North America led the market with a 36.58% share.

Asparagus refers to the versatile vegetable enriched with antioxidants, vitamins, and minerals, which makes it a popular choice for health-conscious people. The market growth can be attributed to the surging demand for the product from the food & beverages industry. The product is a famous ingredient used in frozen food and canned items, has a long shelf life and offers convenience to consumers.

Fortune Business Insights presents this information in their report titled “Asparagus Market, 2025–2032.”

Major Players Profiled in the Report:

  • Walker Plants
  • Altar Produce LLC
  • Limgroup B.V.
  • Jersey Asparagus Farms
  • The Greek Asparagus Company
  • Cutter Asparagus Seed
  • Thiermann GmbH & Co KG
  • Planta Trujillo- Danper Trujillo S.A.C.
  • California Asparagus Seed and Transplants Inc.
  • Südwestdeutsche Saatzucht

Segmentation:

By type, the market is divided into frozen, canned, and fresh. The fresh segment is poised to capture a significant asparagus market share during the forecast period. The surging awareness about the health benefits of the product and health consciousness are bolstering the fresh segment growth.

In terms of color, the market is bifurcated into white and green. The green segment is slated to register a major market share during the forecast period. Manufacturers have opted for investment strategies to maintain their position while providing premium quality products on account of the surging demand for green product. This factor is boosting the green segment growth.

By distribution channel, the market is classified into convenience stores, online retail stores, supermarket/hypermarket, and others. The supermarket/hypermarket segment is anticipated to register a significant share during the forecast period. Premium packaging of vegetables with offers and discounts are offered by supermarkets/hypermarkets, inclining a large base of consumers, bolstering the demand for vegetables, including the product. This factor is impelling the supermarket/hypermarket segment growth.

By region, the market is classified into Europe, the Asia Pacific, South America, the Middle East & Africa, and North America.

Report Coverage

The market research report offers a comprehensive coverage of the driving factors influencing the market growth. It further gives detailed insights into the major industry developments, asparagus market size, and the impact of the COVID-19 pandemic on the market growth. Additional aspects of the report include the key strategic initiatives deployed by leading companies to boost their position in the market. The report also provides an overview of the major segments in the market and the latest trends. Furthermore, the restraining factors expected to hinder the market growth during the forecast period have also been mentioned in the report.

Drivers:

Surging Demand for Healthy and Nutritious Food to Escalate the Market Growth

The asparagus market growth is driven by a rise in the demand for nutritious and healthy food. Moreover, the rising demand for healthy and convenient food options across the globe is further anticipated to bolster the demand for the product.

Regional Insights:

Europe to Capture Largest Share Due to Increasing Deployment of Product in Processed Foods

Europe market is slated to witness the largest share during the forecast period. The regional expansion can be credited to the increase in the usage of the product in processed foods.

Competitive Landscape:

Key Companies Focus on Product Innovations to Broaden Their Portfolio

The prominent companies in the market are opting for various competitive strategies to bolster their share while extending their geographical footprint. Strategic partnerships, joint ventures, and mergers and acquisitions are some of these strategies. Several companies are also emphasizing launching new products to stand out from the competition.

Key Industry Development

  • February 2024: Maisadour Cooperative Group, a France-based agricultural company, announced their latest launch of a recruitment campaign for finding new asparagus growers. With the help of this campaign, the firm opens lucrative opportunities for the growth of the market in the future.

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