Artichokes Market Overview with Detailed Analysis, Competitive landscape, Forecast to 2027 - Caprichos del Paladar, Agro T18 Italia, Gaia Herbs, MASTER FRUIT

The global artichoke market accounted for US$ 3,048.1 Mn in 2018 and is expected to grow at a CAGR of 4.4% during the forecast period 2019 – 2027, to account for US$ 4,464.1 Mn by 2027.

The Europe region held the largest market share in the global artichoke market. The production and consumption rate of artichokes is expanding rapidly, with Italy and Spain being the significant markets for the artichoke industry. The European artichoke market is primarily being driven by the growing demands for convenience food products. These countries are witnessing an upsurge in the middle-class and upper-middle-class population as well as growth in the food & beverage industry, which provides ample opportunities for the key artichoke market players. With increasing health consciousness among the consumers, the demand for artichoke in the region is expected to continue to grow over the projected period.

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Market Insights

Ongoing biomedical research & development related to artichokes leaf extract provides an opportunity for the artichoke market growth

Artichokes are known for their medicinal properties. Though they are originated in the Mediterranean countries, health benefits associated with it have increased its demand globally in recent years. Seasonal availability, concentrated production coupled with low awareness regarding its benefits, has confined the use of artichokes in end-user industries. However, due to its high nutritional profile, the researcher is interested in discovering its antioxidant, choleretic, hepatoprotective, bile-enhancing, and lipid-lowering effects. Till now, the number of clinical and experimental trials have been performed, and positive results have been stated by researchers.

The growing demand of artichokes from the beverages industry is expected to boost the demand for artichoke

Artichokes are loaded with a number of essential nutrients such as vitamins, minerals, and dietary fiber that helps to cure several diseases and also boost the immune system of the human body. Also, Artichokes are used to prepare herbal liqueur. And on the contrary, preparing liqueur from artichokes is quite an easy, time-saving, and cost-effective method. Unique and exotic flavor, digestive, and aphrodisiac characteristics of artichokes attract the manufacturer to produce artichoke-based beverages. Not only liqueur manufacturers, but consumers are also trying to make non-alcoholic beverages such as herbal tea, cordials, or tonics at home to utilize the medicinal properties of artichokes. In addition, owing to the growing demand of artichokes in beverages, manufacturers have started to focus on the development of new and innovative products.

Type Insights

On the basis of type, the global artichoke market has been segmented into a green globe, big heart, baby Anzio, and others. Under the type segment, the green globe market led the global artichoke market. Moreover, the baby Anzio segment is anticipated to register the fastest CAGR over the projected period. The green globe is a light green colored spined artichoke, and it is around 3 to 5 inches in size. It is the most commonly commercially cultivated artichokes in the world. Italy, France, and the United States are major growers of the green globe while Spain, Argentina, Chile, Algeria, Sakiz, and Turkey among the small producers of green globe artichokes. It has a buttery-tasting heart and bottom and an ample amount of meat at the base of the petals owing to which it is used in street foods, homemade cuisines, and in salads, pasta, pizza served at restaurants. This further boosts the overall artichoke market globally.

Applications Insights

The global artichoke market by the applications has been segmented into liqueur, food, pharmaceutical, and others. Fresh or jarred artichokes are used in various cuisines, especially in salads and kinds of pasta. They are also used in dips, tarts, and as toppings in pizza or other food. They are boiled, steamed, grilled, or roasted with sauces and flavors to make a variety of dishes, especially in North Africa, the Middle East, Turkey, and Armenia. There are many traditional and authenticate artichokes home recipes, particularly made in Italy, Spain, Turkey, Ireland, and Egypt. For instance, a common Italian artichoke stuffing dish uses a mixture of bread crumbs, garlic, oregano, parsley, grated cheese, and prosciutto or sausage. Apart from this, artichokes are also used in many street foods in these countries.

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