Global Artichoke Extract Market Trends 2024, Forecast To 2033

The artichoke extract market size has grown strongly in recent years, increasing from $2.75 billion in 2023 to $2.89 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. This growth during the historic period can be attributed to factors such as the rising demand for natural supplements, increased awareness of health benefits, the expansion of the herbal medicine market, the rise in research on phytochemicals, and dietary trends favoring antioxidant-rich foods. Looking ahead, the market size is expected to continue its upward trajectory, reaching $3.58 billion by 2028 with a CAGR of 5.5%. The forecast period’s growth is likely driven by the expansion of the nutraceutical industry, an aging population seeking liver health products, the growing adoption of herbal remedies, an increased focus on digestive health, and a rising consumer preference for organic ingredients. Notable trends during this period include advancements in extraction techniques, nanoencapsulation for improved bioavailability, the application of biotechnology in cultivation, precision farming methods, and the development of sustainable packaging.