U.S. - Asparagus - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact
Mexico and Peru Dominate the Rising American Asparagus Market
IndexBox has just published a new report: 'U.S. - Asparagus - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.
The U.S. asparagus market rose modestly to $717M in 2019, surging by 4.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +5.9% over the period from 2013 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Asparagus consumption peaked in 2019 and is expected to retain growth in the immediate term.
Production in the U.S.
In 2019, the production of asparagus decreased by -4.7% to 34K tonnes, falling for the second year in a row after two years of growth. Overall, production showed a relatively flat trend pattern. In value terms, asparagus production contracted to $123M in 2019. Given the relatively small production volume, the market is largely supplied by imported asparagus.
Harvested Area and Yield in the U.S.
The asparagus harvested area in the U.S. contracted to 8.3K ha in 2019, with a decrease of -5.1% compared with the previous year's figure. In general, the harvested area continues to indicate a noticeable shrinkage.
The average yield of asparagus in the U.S. reached 4.1 tonnes per ha in 2019, remaining stable against the previous year. The yield figure increased at an average annual rate of +2.6% from 2013 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years.
Imports into the U.S.
In 2019, imports of asparagus into the U.S. amounted to 259K tonnes, therefore, remained relatively stable against the previous year. The total import volume increased at an average annual rate of +5.6% over the period from 2013 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period.
In value terms, asparagus imports rose sharply to $761M (IndexBox estimates) in 2019. The total import value increased at an average annual rate of +7.0% over the period from 2013 to 2019.
Imports by Country
Mexico (166K tonnes) and Peru (91K tonnes) were the main suppliers of asparagus imports to the U.S., together comprising 99% of total imports.
From 2013 to 2019, the biggest increases were recorded for imports from Mexico, which increased from 96K tonnes to 166K tonnes.
In value terms, the largest asparagus suppliers to the U.S. were Mexico ($435M) and Peru ($316M), with a combined 99% share of total imports.
Import Prices by Country
In 2019, the average asparagus import price amounted to $2,931 per tonne, increasing by 5% against the previous year. Over the period from 2013 to 2019, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2015 an increase of 22% against the previous year. As a result, import price attained the peak level of $3,378 per tonne. From 2016 to 2019, the growth in terms of the average import prices remained at a somewhat lower figure.
Average prices varied somewhat amongst the major supplying countries. In 2019, the country with the highest price was Peru ($3,458 per tonne), while the price for Mexico amounted to $2,624 per tonne.
From 2013 to 2019, the most notable rate of growth in terms of prices was attained by Peru.
Source: IndexBox AI Platform
This report provides an in-depth analysis of the asparagus market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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