Global Asparagus Market 2024

Asparagus Market Size

The global asparagus market expanded slightly to $X in 2022, surging by 2.5% against the previous year. Overall, consumption recorded a mild setback. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the global market failed to regain momentum.

Asparagus Production

In value terms, asparagus production reached $X in 2022 estimated in export price. Overall, production continues to indicate a noticeable reduction. The growth pace was the most rapid in 2016 when the production volume increased by 86%. As a result, production reached the peak level of $X. From 2017 to 2022, global production growth remained at a lower figure.

The country with the largest volume of asparagus production was China (X tons), accounting for 86% of total volume. Moreover, asparagus production in China exceeded the figures recorded by the second-largest producer, Peru (X tons), more than tenfold.

In China, asparagus production remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Peru (-0.2% per year) and Mexico (+10.1% per year).

The global average asparagus yield was estimated at X tons per ha in 2022, therefore, remained relatively stable against the previous year. In general, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 5.2% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2016 to 2022, the growth of the average asparagus yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the global asparagus harvested area dropped modestly to X ha, leveling off at the previous year. Over the period under review, the harvested area, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 4.1%. Over the period under review, the harvested area dedicated to asparagus production reached the peak figure at X ha in 2021, and then contracted modestly in the following year.

Asparagus Exports

Exports

In 2022, approx. X tons of asparagus were exported worldwide; shrinking by -17.3% against 2021 figures. The total export volume increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 33% against the previous year. As a result, the exports attained the peak of X tons, and then contracted rapidly in the following year.

In value terms, asparagus exports reduced dramatically to $X in 2022. The total export value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 15%. As a result, the exports attained the peak of $X, and then shrank notably in the following year.

Exports by Country

Peru (X tons) and Mexico (X tons) represented roughly 73% of total exports in 2022. The United States (X tons) ranks next in terms of the total exports with an 11% share, followed by Spain (5.4%). The Netherlands (X tons) and Italy (X tons) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Spain (with a CAGR of +4.5%), while the other global leaders experienced more modest paces of growth.

In value terms, Peru ($X) remains the largest asparagus supplier worldwide, comprising 45% of global exports. The second position in the ranking was taken by Mexico ($X), with a 22% share of global exports. It was followed by the United States, with a 9.4% share.

From 2012 to 2022, the average annual growth rate of value in Peru totaled +2.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (+3.6% per year) and the United States (-1.1% per year).

Export Prices by Country

The average asparagus export price stood at $X per ton in 2022, standing approx. at the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 15%. Over the period under review, the average export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+3.2%), while the other global leaders experienced more modest paces of growth.

Asparagus Imports

Imports

In 2022, global imports of asparagus declined to X tons, waning by -14.8% against the previous year's figure. The total import volume increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when imports increased by 15% against the previous year. Over the period under review, global imports hit record highs at X tons in 2021, and then declined in the following year.

In value terms, asparagus imports dropped rapidly to $X in 2022. The total import value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 16%. As a result, imports reached the peak of $X, and then fell significantly in the following year.

Imports by Country

The United States dominates imports structure, accounting for X tons, which was near 64% of total imports in 2022. It was distantly followed by Canada (X tons) and Germany (X tons), together making up a 10% share of total imports. Spain (X tons), France (X tons), the UK (X tons), the Netherlands (X tons), Switzerland (X tons) and Japan (X tons) followed a long way behind the leaders.

The United States was also the fastest-growing in terms of the asparagus imports, with a CAGR of +3.4% from 2012 to 2022. At the same time, Spain (+3.2%) displayed positive paces of growth. The UK and Canada experienced a relatively flat trend pattern. By contrast, France (-1.3%), Switzerland (-1.8%), the Netherlands (-2.7%), Germany (-3.0%) and Japan (-7.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United States increased by +10 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported asparagus worldwide, comprising 45% of global imports. The second position in the ranking was held by Germany ($X), with a 6.6% share of global imports. It was followed by Canada, with a 5.8% share.

In the United States, asparagus imports increased at an average annual rate of +1.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (-1.2% per year) and Canada (-0.6% per year).

Import Prices by Country

In 2022, the average asparagus import price amounted to $X per ton, falling by -2.1% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 21%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Switzerland ($X per ton), while the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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