Artichokes Market Size, Share, Industry, Forecast and outlook (2024-2031)

Artichokes Market is segmented By Origin Type (Organic Artichokes, Conventional Artichokes), By Product (Globe Artichokes, Elongated Artichokes, Others), By End User (Food & Beverages, Pharmaceuticals, Personal Care & Cosmetic), and By Region (North America, South America, Europe, Asia Pacific, Middle East & Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031.

Artichokes Market Size

The global artichokes market reached USD 3,070.5 million in 2022 and is projected to witness lucrative growth by reaching up to USD 4,333.2 million by 2030. The market is growing at a CAGR of 4.4% during the forecast period (2024-2031). According to the United States Department of Agriculture (USDA), one medium artichoke (128 grams) contains 6.9 grams of fiber, 14.4 milligrams of vitamin C, and 343 milligrams of potassium which drives the artichokes market size.

Artichokes are a rich source of dietary fiber, vitamin C, and antioxidants. Artichokes contain compounds that can help regulate blood sugar levels by improving insulin sensitivity which drives the artichokes market size. This can be beneficial for individuals with diabetes or those at risk of developing diabetes. Artichokes contain compounds that have anti-inflammatory properties, which can help reduce inflammation throughout the body. This can be beneficial for individuals with chronic inflammatory conditions, such as rheumatoid arthritis.

Artichokes Market Scope

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Artichokes Market Dynamics

Increasing Awareness About Health Benefits Associated With Consumption Of Artichokes 

Potassium, magnesium, dietary fiber, and other crucial vitamins and minerals are abundant in artichokes. It is has abundant in antioxidants and bioactive substances like luteolin and apigenin. Artichokes contain dietary fibre, which aids in digestion and promotes healthy weight loss. Additionally, it controls blood cholesterol and blood sugar levels. According to numerous studies, silymarin, a flavonoid that is an anticancer agent, can be found in artichoke extracts. Breast cancer cells are adversely affected by it. It has also been discovered that the polyphenols and antioxidants found in artichokes, such as rutin, quercetin, and gallic acid, inhibit the development of cancerous cells.Artichokes aid in liver health improvement and detoxification. 

Hence, key players are launching new products with added benfits. For instance, on September 13, 2022, Vimerson Health, USA, based company launched “Liver Health Detox Support Supplement”. In a GMP-certified facility, Liver Health is produced in the USA using materials from around the world. It is non-GMO, free of soy, nuts, dairy, gluten, and other allergens.

Artichokes Market Segment Analysis

The global artichokes market is segmented based on origin type, product, end user and region.

Globe Artichoke Segment Accounts For The Highest Share In Global Artichokes Market

The largest market share in 2022 belonged to globe artichokes, and it is anticipated that they will continue to rule the market throughout the forecast period with XX% CAGR. The globe artichoke is a vegetable crop that is unique to the mediterranean region. They are the largest, oblong, fat (4-5 inches), and widely cultivated artichokes in the world. Green globe, baby Anzio, and giant heart globe artichokes are the most popular and widely consumed varieties. For instance, on July 16, 2021, in order to address problems with digestive transport and stomach emptying, Enzymedica released a nutraceutical formula containing a combination of artichoke leaf extract, ginger root CO2 extract, and apple cider vinegar.

Source: DataM Intelligence Analysis (2024)

Artichokes Market Geographical Share

Europe is Expected to be the Dominating Region 

By region, the global artichokes market is segmented into North America, South America, Europe, Asia-Pacific, Middle-east and America.

Europe is projected to be the dominating region due to the increase in organic fruit consumption. According to the American Society for Horticultural Science, Italy is first in terms of surface area under artichokes (35.593 ha), followed by Egypt (17.895 ha), and Spain (16,000 ha). However, Egypt is the only country that produces more than that, with 387,704 t, followed by Italy (364,871 t), and Spain (199,100 t). The growth Egypt experienced over the past ten years, both in terms of planted surface (+210.6%) and yield (+251.3%), is noteworthy among the major producing nations. This growth allowed the African nation to surpass Italy in terms of yield, even though it continued to rank second in terms of global production surface area. While harvesting production has decreased in both Spain and Italy (16.2% and 28.7%, respectively), the planted surface has decreased in both countries by 35.0% and 16.2%.

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Source: DataM Intelligence Analysis (2024)

Artichokes Market Companies

The major global players include Caprichos del Paladar S.L.U., Agro T18 Italia, Gaia Herbs inc., Master Fruit Srl, The Sa Marigosa Op, Ocean Mist Farms, Herrawi Group, King Herbs Ltd., Societa Semplice Agricola F.lli Piras and Campo de Lorca. 

Covid Impact Analysis

The COVID-19 pandemic has had a significant impact on the global economy, including the agricultural sector. The pandemic has disrupted global supply chains, making it more difficult to transport goods and access markets. This affected the export of artichokes from producing countries such as Spain, Italy, and Peru to other parts of the world. The pandemic has led to labor shortages in some parts of the world, including in the agricultural sector. This affected the production of artichokes and other crops that rely on manual labor by 6% according to USDA.

Key Developments

• On January 27, 2022, Cutting Vedge, the US-based company, launched artichoke-based vegan meat to the table. The specialty food company launched the New Jersey-based brand with the goal of opening up new plant-based food possibilities for the nutrient-rich artichoke. In addition to being a rich source of protein without the presence of cholesterol, artichokes are also high in fiber, micronutrients, and antioxidants.
• On May 1, 2023, the North American Ocean Mist Farms launched its annual spring promotion conveying the health and nutrition benefits and accolades of its famous Gold Standard artichokes. By highlighting its artichoke expertise through this campaign, Ocean Mist Farms hopes to raise trade partner awareness of the intricate processes involved in earning the Gold Standard certification and draw attention to the exceptional nutritional benefits of fresh artichokes.
• On March 16, 2023, prior to National Artichoke Hearts Day, the Monterey County Convention and Visitors Bureau (MCCVB) launched its Artichoke Trail, shining a spotlight on the region's spiciest vegetable. In Monterey County, there are more than 20 places to stop along the Artichoke Trail, including eateries, farm stands, and tourist destinations.

Why Purchase the Report?

• To visualize the global artichokes market segmentation based on origin type, product, end user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of artichokes market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global artichokes market report would provide approximately 77 tables, 82 figures and 195 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies