Increasing Demand for Artichokes to Augment the Artichokes Market Growth

 

Artichokes Market

Artichoke (also known as green artichoke or French artichoke in the U.S.) is a variety of a species of thistle cultivated as a food. Artichoke is a hybrid species of a perennial plant of the sunflower family. The antioxidant property of artichokes makes them useful in liqueur, genome, herbal tea, cooking, and also in medical research. Furthermore, artichoke is a good source of vitamin K, vitamin C dietary fiber, and folate. They are also packed with antioxidants; they are number seven on the United States Department of Agriculture’s (USDA's) top 20 antioxidant-rich foods list.

Market Dynamics:

Increasing demand for artichokes owing to the increasing consumption of nutritional and healthy foods is expected to propel the growth of the artichokes market. For instance, according to Food and Agriculture Organization (FAO), in 2018, artichoke production reached 389,813 tons in Italy. Italy is the world's largest producer of artichokes.

Moreover, increasing demand for artichokes from the food and beverages industry and growing awareness regarding its benefits is expected to augment the growth of the artichokes market. However, seasonal availability and the lack of awareness among people regarding its benefits is expected to restrain the growth of the artichokes market.

North America is expected to witness robust growth in the artichokes market due to increasing demand for artichokes and the increasing consumption of nutritional and healthy foods in the region. For instance, in October 2019, DolCas Biotech launched Bergacyn, a clean-label blend of botanical extracts for heart and liver health derived from the Italian bergamot citrus fruit (Citrus bergamia) and the wild-crafted Italian artichoke thistle leaf (Cynara cardunculus sylvestris), in the U.S. Moreover, the new formulation is USDA and EU organic certified.

Competitive Analysis:

Major players operating in the artichokes market are Hawaii Pharm LLC, Gaia Herbs, Inc., Sa Marigosa, Nutra Green Biotechnology Co. Ltd., T18 Group, Agro T18 Italia S.r.l., Caprichos Del Paladar, Sirri Ustundag, and Hijos De Joaquin Rodríguez SL.

Major players in the market are involved in various strategies, such as partnership, product launch, collaboration, etc., to enhance their market share. For instance, in February 2021, Ocean Mist Farms announced the 3rd annual Peace, Love and Artichokes winter promotion launching and lasting through March 15.

Moreover, in June 2020, Ocean Mist Farms launched the Coachella artichoke season, whereas in November 2019, Ocean Mist Farms collaborated with Harry & David to offer long-stem artichoke gift packs during the holiday season. 


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