Asparagus Prices

Asparagus Prices December 2023

In December 2023, the price of asparagus in the USA stood at 1.35 USD/lb.

Asparagus Price Trend, Market Analysis, and News

IMARC's latest publication, “Asparagus Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” presents a detailed examination of the asparagus market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of asparagus at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents a detailed asparagus price trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting asparagus pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.

Asparagus Market Analysis

The global asparagus market size reached 8.98 million tons in 2023. By 2032, IMARC Group expects the market to reach 11.42 million tons, at a projected CAGR of 2.70% during 2023-2032.

• Asparagus is well-known for its health benefits, which is contributing to the market growth. It is known for its antioxidant benefits and low calorie count, making it an appealing choice for health-conscious consumers. As people prioritize including nutrient-rich vegetables into their meals to improve overall health and well-being, there is an increase in global demand for asparagus.
• The continued shift toward plant-based diets, as well as the growing popularity of vegetarianism and veganism, are driving asparagus market growth. As more people switch to plant-based diets, asparagus has grown in popularity because of its adaptability, flavor, and nutritional value. Furthermore, as culinary inventiveness and interest in other cuisines have grown, asparagus has become more popular in a variety of dishes, ranging from salads and soups to main courses and gourmet preparations.
• The proliferation of supermarkets, hypermarkets, and online retail platforms has made asparagus more accessible to a broader audience, thus strengthening the market share. Improved supply chain logistics and the convenience of internet shopping have made it easier to acquire and distribute fresh products, such as asparagus. These retail developments have increased the availability of asparagus to consumers who previously did not have simple access, hence boosting the market growth.
• Technological advancements and innovations in farming techniques have led to increased asparagus production efficiency and yield. Improved irrigation methods, pest control, and the use of high-quality seeds and fertilizers have enabled farmers to produce asparagus more sustainably and cost-effectively. A consistent supply of high-quality asparagus has been produced as a result of these agricultural advancements, which in turn helps drive the market growth.
• Government support and initiatives aimed at promoting agricultural production and exports are playing a role in the growth of the asparagus market. Many countries have introduced subsidies, grants, and training programs to encourage farmers to cultivate asparagus. Additionally, trade agreements and export incentives have facilitated the international trade of asparagus, allowing producers to tap into new markets and meet global demand. These supportive measures help ensure the sustained growth and competitiveness of the asparagus industry.

Asparagus News

The report covers the latest developments, updates, and trends impacting the price of asparagus, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the asparagus price trend.

Latest developments in the asparagus industry:

• In April 2024, Michigan State University had developed a model to predict asparagus emergence using soil temperature data. This model helps growers anticipate when asparagus crowns will wake up from their winter dormancy and when spears will start emerging.
• In 2024, A UK-based robotics company, AutoPickr, has raised £710,000 to develop an autonomous robot named Gus, designed specifically for harvesting asparagus. Gus uses advanced computer vision and a navigation system to identify and pick asparagus spears efficiently. This innovation aims to address labor shortages and increase harvesting efficiency in asparagus production.

Product Description

Asparagus, scientifically known as Asparagus officinalis, is a perennial flowering plant species belonging to the lily family. It is known for its distinct flavor and tender texture. This plant typically has slender, spear-like stems that can be green, white, or purple. Green, white, and purple are some of the commonly available varieties of asparagus. It is rich in folate, iron, copper, calcium, fiber, protein, and several vitamins like A, C, E, K, and B6.

The production of asparagus involves multiple steps, starting with soil preparation, planting, harvesting, post-harvest handling, and packaging. It is used extensively in soups, salads, risotto, frittata, pickle, quiche, and pasta. Asparagus supports digestive health, reduces oxidative stress, promotes heart health, enhances skin texture, boosts immunity, lowers inflammation, strengthen bones, and regulates blood sugar levels. Additionally, it is lauded for its versatility, easy preparation, high nutritional content, year-round availability, rich flavor, and low calories.

Regional Coverage

The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the asparagus price trend.

Global Asparagus Price

The report offers a holistic view of the global asparagus pricing trends in the form of asparagus price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price levels but also provides insights into historical price of asparagus, enabling stakeholders to understand past fluctuations and their underlying causes. The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed asparagus demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Asparagus Price

European asparagus prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.

Detailed price information for asparagus can also be provided for an extensive list of European countries.

North America Asparagus Price

Middle East and Africa Asparagus Price

The report explores the asparagus pricing trends in the Middle East and Africa, considering factors like the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Asparagus Price

The asparagus pricing trends in the Asia Pacific are examined, reflecting the role of the region as a major global producer and consumer of agricultural products, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.

This asparagus price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Asparagus Price

The analysis of asparagus prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, agricultural output, and trade frameworks.

This comprehensive review can be extended to include specific countries within Latin America.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of asparagus pricing, covering global and regional trends, spot prices at key ports, and a breakdown of FOB and CIF prices.
• The study examines factors affecting asparagus price trend, including input costs, supply-demand shifts, and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The asparagus price charts ensure our clients remain at the forefront of the industry.