Report : Europe Artichokes Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Category (Organic and Conventional), Product Type (Globe Artichokes and Elongated Artichokes), and End Use (Food Processing, Direct Consumption, Beverages Processing, and Others)
Food Processing Segment to Dominate Europe Artichokes Market During 2021–2028
According to a new market research study on “Europe Artichokes Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Category, Product Type, and End Use” is expected to reach US$ 1,877.14 million by 2028 from US$ 1,458.22 million in 2021. The market is estimated to grow at a CAGR of 3.7% from 2021 to 2028. The report provides trends prevailing in the Europe artichokes market along with the drivers and restraints pertaining to the market growth. Increasing health benefits associated with artichokes and rising demand of artichokes from beverages industry are the major factor driving the growth of the Europe artichokes market. However, seasonal availability and concentrated production of artichokes hinders the growth of Europe artichokes market.
In Europe, currently the UK and Russia are the hardest-hit countries by the COVID-19 pandemic. It is estimated to suffer an economic hit due to a lack of revenue from various industries, as the country recorded the highest number of COVID-19 cases followed by France, Spain, Italy, and Germany. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. The governments in countries such as Italy and Spain have imposed complete lockdown in various areas for multiple weeks, which affected the business activities in these countries. The food service and retail sector have registered major disruptions, thus affecting the sales of companies operating in the region. Further, the prices of artichokes have fallen along with consumption, which is expected to negatively impact the growth of the market.
Europe artichokes market has been segmented based on category, product type, end use, and country. The market by category has been segmented into organic and conventional. The conventional segment dominated the Europe artichokes market in 2020 and organic segment is expected to be fastest growing during forecast period. The market by product type has been segmented has been segmented into globe artichokes and elongated artichokes. The globe artichokes segment dominated the Europe artichokes market in 2020 and elongated artichokes segment is expected to be fastest growing during forecast period. By end use, the market is segmented into direct consumption, food processing, beverage processing, and others. The food processing segment dominated the Europe artichokes market in 2020 and is also expected to be fastest growing during forecast period.
Agro T18 Italia Srl, Campo de Lorca, Caprichos del Paladar, Herrawi Group, Master Fruit SRL, Ocean Mist, Ole, Sa Marigosa Società Consortile a r.l., and Societa Semplice Agricola F.lli Piras are among the leading companies in the Europe artichokes market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, Ocean mist Farms launches frost Kissed artichokes which are darker in color due to the freezing conditions, which seals in more flavor and provides a nuttier taste pronounced in the Frost Kissed artichokes.
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