Preserved Asparagus Market

The article discusses the global preserved asparagus market, predicting an upward consumption trend over the next eight years. The market is expected to see a slight increase in volume and value, with a forecasted CAGR of +0.1% and +2.4% respectively. The article highlights consumption trends, production statistics, import and export data, and growth forecasts for the period of 2022-2030. Countries such as Spain, China, and Germany lead in consumption and production, while countries like Nigeria show significant growth rates. Import and export trends, as well as average prices, are also analyzed in the article.

Market Forecast

Driven by rising demand for preserved asparagus worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.1% for the period from 2022 to 2030, which is projected to bring the market volume to 185K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.4% for the period from 2022 to 2030, which is projected to bring the market value to $671M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Preserved Asparagus

Global preserved asparagus consumption expanded rapidly to 184K tons in 2022, surging by 9.4% on the year before. Over the period under review, consumption, however, continues to indicate a mild decrease. Over the period under review, global consumption attained the peak volume at 203K tons in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

The global preserved asparagus market revenue rose markedly to $555M in 2022, surging by 9.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw a relatively flat trend pattern. Global consumption peaked at $641M in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Spain (30K tons), China (27K tons) and Germany (15K tons), with a combined 39% share of global consumption. France, the United States, India, Nigeria, Denmark, Japan, Pakistan, the Netherlands and Russia lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +10.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest preserved asparagus markets worldwide were Spain ($102M), China ($67M) and France ($53M), with a combined 40% share of the global market. Germany, Japan, the United States, India, Russia, the Netherlands, Denmark and Pakistan lagged somewhat behind, together accounting for a further 28%.

Among the main consuming countries, the Netherlands, with a CAGR of +8.1%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of preserved asparagus per capita consumption in 2022 were Denmark (742 kg per 1000 persons), Spain (643 kg per 1000 persons) and France (198 kg per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +7.5%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Preserved Asparagus

In 2022, approx. 176K tons of preserved asparagus were produced worldwide; approximately mirroring the previous year. Over the period under review, production, however, showed a mild slump. The most prominent rate of growth was recorded in 2019 with an increase of 5.2% against the previous year. Global production peaked at 199K tons in 2012; however, from 2013 to 2022, production remained at a lower figure.

In value terms, preserved asparagus production stood at $533M in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 9.2%. As a result, production reached the peak level of $642M. From 2015 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

The country with the largest volume of preserved asparagus production was China (69K tons), comprising approx. 39% of total volume. Moreover, preserved asparagus production in China exceeded the figures recorded by the second-largest producer, Peru (34K tons), twofold. India (6.7K tons) ranked third in terms of total production with a 3.8% share.

In China, preserved asparagus production remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Peru (-4.7% per year) and India (+1.6% per year).

Imports

World Imports of Preserved Asparagus

In 2022, global imports of preserved asparagus amounted to 96K tons, picking up by 9.9% against the previous year's figure. In general, imports, however, recorded a perceptible shrinkage. The growth pace was the most rapid in 2020 with an increase of 11% against the previous year. Over the period under review, global imports hit record highs at 126K tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, preserved asparagus imports soared to $315M in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. Over the period under review, global imports attained the maximum at $380M in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports By Country

In 2022, Spain (29K tons), distantly followed by Germany (17K tons), France (14K tons), the Netherlands (7.7K tons), the United States (7.2K tons), Denmark (4.4K tons) and Nigeria (4.4K tons) represented the major importers of preserved asparagus, together constituting 87% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Nigeria (with a CAGR of +105.6%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest preserved asparagus importing markets worldwide were Spain ($103M), France ($56M) and Germany ($50M), together accounting for 66% of global imports. The Netherlands, the United States, Denmark and Nigeria lagged somewhat behind, together comprising a further 20%.

Nigeria, with a CAGR of +91.7%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average preserved asparagus import price stood at $3,282 per ton in 2022, rising by 5.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The pace of growth was the most pronounced in 2013 an increase of 14% against the previous year. Global import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was France ($4,077 per ton), while Nigeria ($1,356 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Preserved Asparagus

In 2022, shipments abroad of preserved asparagus decreased by -5.8% to 88K tons, falling for the second year in a row after two years of growth. Over the period under review, exports saw a perceptible setback. The pace of growth appeared the most rapid in 2019 with an increase of 8.9% against the previous year. The global exports peaked at 122K tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, preserved asparagus exports amounted to $287M in 2022. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 12%. The global exports peaked at $380M in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports By Country

China (42K tons) and Peru (31K tons) dominates exports structure, together constituting 83% of total exports. It was distantly followed by the Netherlands (5.1K tons) and Spain (4.1K tons), together committing a 10% share of total exports. Germany (2.4K tons) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of -0.0%), while shipments for the other global leaders experienced a decline in the exports figures.

In value terms, the largest preserved asparagus supplying countries worldwide were China ($133M), Peru ($101M) and the Netherlands ($20M), together comprising 88% of global exports. Spain and Germany lagged somewhat behind, together comprising a further 7.9%.

Spain, with a CAGR of +3.9%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average preserved asparagus export price amounted to $3,280 per ton, rising by 9.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2013 an increase of 17% against the previous year. Over the period under review, the average export prices hit record highs at $3,366 per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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 Spain ($4,171 per ton), while Germany ($2,406 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+4.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform