Latin America Asparagus Market Growth and Forecast (2023 - 2028):
Latin America Asparagus Market was worth USD xx million in 2022 and estimated to be growing at a CAGR of xx%, to reach USD xx million by 2028.
Asparagus is a plant which is being used as a vegetable and medicine since it has delicate flavour and has diuretic properties. Asparagus is actively sought by key players as a key ingredient in soups owing to its palatable taste and nutritive properties. Asparagus is widely believed to become the primary choice in soup manufacturing industry since many companies already make soup with asparagus and is expected to grow in the future.
As a vegetable, asparagus is quite popular among ready-to-eat foods, and is cut into pieces and mixed with other food products like mixed vegetables and chicken to prepare truly delicious preparations. A rising demand for asparagus in fresh food products like brine and pickled asparagus, sauces and soups is expected to give a good boost to the growth of revenue in the fresh segment by type in the Latin America asparagus market.
The driving factors of Latin America Asparagus market are rising number of asparagus growers, flourishing asparagus export market, rising health-consciousness among consumers and growing awareness about the nutritional benefits obtained from them among others. Also, other factors like rising application of asparagus in ready to eat foods and growth of soup industry are also propelling the market growth. The key restraints faced by the market are farmers opting for direct marketing and high prices of processing and storage of asparagus.
The Latin America Asparagus market is segmented based on the basis of type into fresh and canned and frozen segments. Canned and frozen segment has the largest share in the market. By colour the market is divided into white and green colours. On the basis of distribution channel, the market is divided into supermarkets and hypermarkets, grocery stores and others. Grocery stores is expected to have the largest share in the above segment.
Geographically the Latin America Asparagus Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. Factors such as growing number of asparagus farmers and its increasing application in ready to eat foods is expected to drive the market growth in the region.
Key Players in the Market:
Major Key Players in the Latin America Asparagus Market are
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