Asparagus is quite an important ingredient in soups and fresh food products. The vegetable is actively sought by major companies as a key ingredient in soups on account of its nutritive properties and taste. Asparagus is widely predicted to become the primary choice in the soup manufacturing industry as many companies already make soup with asparagus and this is only expected to grow in the future.
As a vegetable, asparagus is gaining popularity as an ingredient of ready-to-eat foods, and asparagus is grated and mixed with other food products such as mixed vegetables and chicken.
There is a rising demand for organic asparagus in the global asparagus market as well. The number of organic growers in the global asparagus market is rising every year. Asparagus growers are striving to increase the yields.
Consumers have become extremely health-conscious worldwide; this has spurred demand for both the production and consumption of organic asparagus. Organic asparagus is consumed mainly in North America and Europe, and import to these areas has grown by leaps and bounds. In the U.S state of Kentucky, for example, growing organic asparagus has become something of a trend. The produce is exported to those countries where demand is high and Kentucky has the maximum asparagus produced organically when compared to any other region in the world.
Fresh asparagus is highly preferred over its canned and frozen counterparts. Future Market Insights estimates the fresh segment of the global asparagus market to account for nearly 74% market share by the end of the year 2017 and this segment is likely to remain the dominant segment by type in the global asparagus market.
Market opportunities for fresh asparagus in excess of $20 billion
The growing popularity of fresh asparagus is evident from the increasing demand by consumers globally and as a result. According to 364analyze.com, the fresh segment is estimated to record a market revenue of more than US$ 20 billion for the year 2017 and this is likely to reach a market valuation close to US$ 30 billion by 2027, registering a good CAGR of 3.3% in terms of value during the forecast period – the highest among all the type segments of the global asparagus market.