IndexBox has published a new report: ‘World – Artichokes – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.
The global artichoke market revenue amounted to $2,5 billion in 2018, rising by 2,4% against the previous year. This figure reflects the total revenue of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Over the period under review, the global artichoke market reached its maximum level of $2,6 billion in 2012; however, from 2013 to 2018, consumption failed to regain its momentum.
Consumption by country
The countries that consumed the highest volumes of artichokes in 2018 were Italy (394 000 tons), Egypt (319 000 tons) and Spain (196 000 tons), together comprising 54% of global consumption. Peru, Algeria, Argentina and China lagged somewhat behind, together accounting for a further 28%.
From 2009 to 2018, the most notable rate of growth in terms of artichoke consumption, among the main consuming countries, was attained by Algeria, while artichoke consumption for the other global leaders experienced more modest paces of growth.
In value terms, the largest artichoke markets worldwide were Italy ($608 million), Peru ($421 million) and Egypt ($341 million), with a combined 54% share of the global market. Spain, Argentina, Algeria and China lagged somewhat behind, together accounting for a further 26%.
The countries with the highest levels of artichoke per capita consumption in 2018 were Italy (6,62kg/person), Peru (4,75kg/person) and Spain (4,20kg/person).
Market forecast to 2030
Driven by increasing demand for artichoke worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated compound annual growth rate (CAGR) of 1,0% for the period from 2018 to 2030, which is projected to bring the market volume to 1,9 million tons by the end of 2030.
Global artichoke production
Global artichoke production totalled 1,7 million tons in 2018, remaining constant against the previous year. The total output volume increased at an average annual rate of 1,1% over the period from 2009 to 2018; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded over the period under review. The general positive trend in terms of artichoke output was largely conditioned by a modest increase of the harvested area and slight growth in yield figures.
Production by country
The countries with the highest volumes of artichoke production in 2018 were Italy (390 000 tons), Egypt (324 000 tons) and Spain (208 000 tons), together comprising 55% of global production. Peru, Algeria, Argentina, China, France and the Unites States lagged somewhat behind, together accounting for a further 34%.
Harvested area and yield
In 2018, the global artichoke harvested area stood at 127 000 ha, approximately mirroring the previous year. The global average yield of artichokes totalled 13 tons/ha, picking up by 2% against the previous year. The yield figure increased at an average annual rate of 1,3% over the period from 2009 to 2018.
Global artichoke exports
In 2018, the amount of artichokes exported worldwide stood at 34 000 tons, waning by -11,5% against the previous year. In general, artichoke exports continue to indicate a temperate contraction. In value terms, artichoke exports amounted to $51 million (IndexBox estimates) in 2018.
Exports by country
Spain was the largest exporter of artichokes in the world, with the volume of exports amounting to 13 000 tons, which was near 36% of total exports in 2018. It was distantly followed by France (6 200 tons), Italy (4 800 tons), Egypt (4 600 tons), Mexico (2 000 tons) and the United States (2 000 tons), together creating a 57% share of total exports. The Netherlands (895 tons) followed a long way behind the leaders.
Spain experienced a relatively flat trend pattern with regard to the volume of artichokes exported. At the same time, Mexico (17,0%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter in the world, with a CAGR of 17,0% from 2009 to 2018. France experienced a relatively flat trend pattern. By contrast, Italy (-4,4%), the United States (-7,1%), Egypt (-7,4%) and the Netherlands (-13,0%) illustrated a downward trend over the same period. While the share of Mexico (4,4pp) and Spain (2,2pp) increased significantly in terms of global exports from 2009 to 2018, the share of the United States (-5,3pp), the Netherlands (-6,5pp), Italy (-7,0pp) and Egypt (-13,4pp) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analysed period.
In value terms, Spain ($16 million), France ($11 million) and Italy ($7,9 million) were the countries with the highest levels of exports in 2018, with a combined 69% share of global exports. Egypt, the United States, the Netherlands and Mexico lagged somewhat behind, together accounting for a further 26%.
Export prices by country
The average artichoke export price stood at $1,473/ton in 2018, going down by -2,2% against the previous year. Over the period under review, the average export prices for artichokes reached their maximum at $1,681/ton in 2014; however, from 2015 to 2018, export prices stood at a somewhat lower figure.
There were significant differences in the average prices among the major exporting countries. In 2018, the country with the highest price was the Netherlands ($3,423/ton), while Mexico ($1,006/ton) was among the lowest.
From 2009 to 2018, the most notable rate of growth in terms of prices was attained by the Netherlands, while the other global leaders experienced more modest paces of growth. – IndexBox