Global asparagus market estimated to be worth $37Bn by 2027

Key excerpts from Future Market Insights’ latest report on the global asparagus market project predict that by the end of 2027, around 10,300,521.7 metric tonnes (MT) of asparagus will be consumed across the globe.

The sales of 10 million MT of asparagus are estimated to bring in revenues worth over US$ 37Bn. Rising awareness among consumers regarding benefits of consuming asparagus is expected to instrument the growth in global consumption.

In terms of production, China is expected to remain the world’s largest asparagus producer throughout the forecast period, 2017-2027. In 2014, China recorded production of half a million metric tonnes of asparagus. Brimming demand for asparagus makes Western Europe the largest market, procuring over 40% share of global revenues. North America is also expected to be at the forefront of expansion of the global asparagus market, recording consumption of nearly 2 million MT of asparagus by 2016-end.

In terms of volume, the market is projected to showcase a 2.2% Compound Annual Growth Rate(CAGR), while global asparagus revenues are projected to soar sluggishly at 3.1% CAGR during the forecast period.

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