Apricots Market Size, Trends and Insights By Product (Organic, Conventional), By Form (Powdered, Whole dried, Diced), By Distribution Channel (Online, Offline), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- King Apricot
- Chi Tree
- Bata Food
- Ziba Foods
- Others
Reports Description
According to Custom Market Insights (CMI), The Global Apricot Market Size was valued at USD 955 million in 2021 and is expected to reach USD 995 million in 2022 and is estimated to reach USD 1254 million by the end of 2030 at a CAGR of approximately 6.7% during the forecast period 2022-2030.
Due to their excellent nutritional value, Apricot have seen an increase in demand in recent years. The requirement for Apricot is anticipated to increase in the upcoming years due to the fact that they include a lengthy chain of fatty acids and numerous vitamins. The market for Apricot is anticipated to expand strongly in the upcoming years due to the fact that eating them helps prevent several ailments. Apricot are regarded as nutritious fruit since they are exceptionally rich in many nutrients, including lipids, proteins, minerals, vitamins, and carbohydrates.
Apricot are very nutrient-dense due to the inclusion of vitamins B, C, K, and A. Moreover, they include a few organic acids like citric and malic acids. A considerable change has occurred in the food and nutrition industry in recent years as a result of consumers’ increasing appetite for nutrient-dense foods. The market expansion of Apricot will be fuelled by this tendency, which will intensify during the next years.
The ability of Apricot to metabolize many forms of nutrients makes them a functional food that has a lot of promise for market expansion in the years to come. Moreover, Apricot phenolic acids and flavonoids offer greater nutrition and are regarded as one of those functional foods on the market.
Only the countries where Apricot are produced will hinder the market’s expansion. The varying cost of raw materials in apricot-producing nations will prevent the market from expanding in the ensuing years. Moreover, changes in inventories will impede the market’s expansion.
Another factor preventing the industry from expanding in the upcoming years is political unrest, which will have an impact on international trade. Because they make a great snack nut, Apricot are also widely consumed in their dried form.
The convenience of Apricot as a snacking alternative will aid in the market’s expansion in the upcoming years. Moreover, Apricot’ dietary fibre and pectin content are quite advantageous for persons with cholesterol problems. Also, eating Apricot greatly contributes to lowering cholesterol levels.
Growth Factors
Due to their widespread use in the baking, food, and confectionery industries, Apricot have seen a growth in demand throughout a number of geographical areas. The market will expand in the upcoming years as a result of rising demand for various culinary products made with Apricot. The use of Apricot is anticipated to increase as a result of the recent expansion in the trend for ready-to-cook products.
Due to their ability to both prevent and treat various diseases, Apricot are in high demand on all international markets. Apricot consumption has numerous other advantages in addition to being regarded as a necessary food that offers nutrients. One of the ingredients in the meal that is in high demand is the phytochemical content of Apricot. Although phenolic compounds are the most significant antioxidants, the advantages of having antioxidants in the body will support the market’s expansion over the course of the projection period.
Despite the fact that some of the food products containing apricot may be more expensive than other items on the market, the presence of biologically active phytochemicals and the use of Apricot as medicine will cause the market to rise during the projected period. Developing nations have been eating a lot of Apricot lately, much as developed ones around the world. The demand for Apricot increases as people’s disposable incomes rises in developing and poor nations. The demand for Apricot is anticipated to develop significantly in the upcoming years because of the rising vegan population and more health consciousness in the world. Globally, a lot of people have changed their lifestyles for the better in order to fight off illnesses and boost immunity.
Also, it aids in supplying the nutrients that are needed, and the market is anticipated to expand strongly in the upcoming years. The majority of medical professionals worldwide advise eating Apricot to boost immunity and prevent several ailments. In developing and poor countries, where individuals now have more discretionary cash, apricot consumption is anticipated to rise over the next few years. Due to the rise in popularity of dried Apricot as a healthy snack, the market will expand in the upcoming years as a result of their accessibility.
Due to the rise in disposable money, consumers buy discretionary items. The demand for Apricot is anticipated to increase because they are the best source of iron and other crucial nutrients. However, about 24.8% of the world’s population suffers from this, and daily consumption of Apricot helps in increasing haemoglobin, which is one of the reasons the market is expected to grow in the coming years.
Sectoral Perspectives
Market segmentation for Apricot based on the product.
Based on the Product, it is anticipated that the conventional products segment will hold the biggest market share over the next few years. With a market share of about 90% in the past, the component has dominated the industry and will do so again in the years to come.
Markets with Apricot carry them. Apart from the conventional product segment, the organic component is also anticipated to have a good share in the upcoming years. They are also easily accessible in other stores at reasonable prices, and the availability of various offers on these products will lead to the segment’s growth in the upcoming year. There will be greater demand for dried Apricot made from organic materials because they are free of any harmful chemicals, and the absence of sulphite is one of the reasons why the organic segment will continue to grow as more people become aware of the benefits of consuming organic products and their availability.
Turkish Apricot of the organic variety are anticipated to be in high demand in the upscale markets due to their strong appeal. Also, Turkish apricot consumption will rise due to their high potassium content and the advantages of potassium for preserving heart health. In addition, eating Apricot is linked to controlling blood pressure, which is another advantage that will spur market expansion in the upcoming years.
Market segmentation for Apricot using Form.
The Form predicts that the powdered category will hold the biggest market share during the next few years. Before, this market category held a share of roughly 60% and dominated. It is popular because it is simple to include when using dried Apricot in the food and beverage industry. Dried Apricot are also utilized in a number of contemporary personal care products.
The category of diced food is anticipated to have a healthy market share as well as the highest predicted compound annual growth rate of 6.3% over the next few years. The industry is anticipated to expand significantly over the next several years thanks to consumer demand for dried Apricot, salads, oats, muffins, and biscuits. Apricot’ sweet flavour has also made it simple to include them in a variety of baked goods and confections.
Market segmentation for Apricot based on distribution channels.
The demand for Apricot through the online segment is anticipated to have the biggest market share based on the distribution channel. It will expand faster than any other segment, in terms of compound annual growth rate. As with any other eCommerce channel, apricot sales on Flipkart and Amazon will rise in the upcoming years. The advantages of eating these snacks have been more well known among the younger demographic. The use of smartphones and the accessibility of the Internet will accelerate market expansion.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 955 million |
| Projected Market Size in 2030 | USD 1254 million |
| CAGR Growth Rate | 6.7% CAGR (2022-2030) |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Prominent Players | King Apricot, Chi Tree, Bata Food, Ziba Foods, Kayisicioglu Apricot, Kenko Corporation, National Raisin Company, Dag Food, Quirkeycots, Anatolia A., and Others |
| Key Segment | By Product, Form, Distribution Channel, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfill your requirements for research. |
Regional Perspectives
In terms of revenue generated, the Asia Pacific region is anticipated to expand at the greatest compound annual growth rate, which is anticipated to reach 7.5% in the coming years. The demand for Apricot in the Asia Pacific area is anticipated to increase during the projected period due to changing consumption patterns and consumer behaviour.
Demand is anticipated to rise in the coming years due to an increase in disposable income across many countries in the Asia Pacific region, particularly in countries like China and India. Apricot consumption is highest in China, a country with a large customer base. Apricot grown in China are exported to neighbouring nations in the Central Asian region at a rate of about 80%.
Turkey used to have the highest recorded apricot consumption. In addition to Turkey’s rising apricot consumption, this region also produces a good amount of Apricot. In the past, this region has had tremendous international exhibits and exported lots of Apricot. Turkey, Russia, and the United States are the top three exporters of Apricot to other nations. As a result, consumers’ disposable income has increased, particularly for those in metropolitan regions. In countries like Saudi Arabia and the United Arab Emirates, there is a rising demand for Apricot. Iran’s consumer base is anticipated to increase in the years to come.
Key Players
- King Apricot
- Chi Tree
- Bata Food
- Ziba Foods
- Kayisicioglu Apricot
- Kenko Corporation
- National Raisin Company
- Dag Food
- Quirkeycots
- Anatolia A.
New developments:
- The Texas-based Personify Company acquired Wild Apricot Inc. in 2017 from Canada. Personify Company is based in Texas.
- Del Monte Foods introduced dried Apricot in packaging form in the year 2016.
Segments covered in the report
By Product
- Organic
- Conventional
By Form
- Powdered
- Whole dried
- Diced
By Distribution Channel
- Online
- Offline
On the basis of Geography
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market research methodology
- Chapter 2. Executive Summary
- 2.1 Global Apricot Market, (2022 – 2030) (USD Million)
- 2.2 Global Apricot Market : snapshot
- Chapter 3. Global Apricot Market – Industry Analysis
- 3.1 Apricot Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Increased Demand For Apricot
- 3.2.2 Increased Demand For Different Types Of Food Products
- 3.2.3 Help Prevent Many Types Of Diseases And Possess
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market attractiveness analysis By Product
- 3.7.2 Market attractiveness analysis By Form
- 3.7.3 Market attractiveness analysis By Distribution Channel
- Chapter 4. Global Apricot Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Apricot Market: company market share, 2021
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Apricot Market – Product Analysis
- 5.1 Global Apricot Market overview: By Product
- 5.1.1 Global Apricot Market share, By Product, 2021 and 2030
- 5.2 Organic
- 5.2.1 Global Apricot Market by Organic, 2022 – 2030 (USD Million)
- 5.3 Conventional
- 5.3.1 Global Apricot Market by Conventional, 2022 – 2030 (USD Million)
- 5.1 Global Apricot Market overview: By Product
- Chapter 6. Global Apricot Market – Form Analysis
- 6.1 Global Apricot Market overview: By Form
- 6.1.1 Global Apricot Market share, By Form, 2021 and 2030
- 6.2 Powdered
- 6.2.1 Global Apricot Market by Powdered, 2022 – 2030 (USD Million)
- 6.3 Whole dried
- 6.3.1 Global Apricot Market by Whole dried, 2022 – 2030 (USD Million)
- 6.4 Diced
- 6.4.1 Global Apricot Market by Diced, 2022 – 2030 (USD Million)
- 6.1 Global Apricot Market overview: By Form
- Chapter 7. Global Apricot Market – Distribution Channel Analysis
- 7.1 Global Apricot Market overview: By Distribution Channel
- 7.1.1 Global Apricot Market share, By Distribution Channel, 2021 and 2030
- 7.2 Online
- 7.2.1 Global Apricot Market by Online, 2022 – 2030 (USD Million)
- 7.3 Offline
- 7.3.1 Global Apricot Market by Offline, 2022 – 2030 (USD Million)
- 7.1 Global Apricot Market overview: By Distribution Channel
- Chapter 8. Apricot Market – Regional Analysis
- 8.1 Global Apricot Market Regional Overview
- 8.2 Global Apricot Market Share, by Region, 2021 & 2030 (USD Million)
- 8.3. North America
- 8.3.1 North America Apricot Market, 2022 – 2030 (USD Million)
- 8.3.1.1 North America Apricot Market, by Country, 2022 – 2030 (USD Million)
- 8.3.1 North America Apricot Market, 2022 – 2030 (USD Million)
- 8.4 North America Apricot Market, by Product, 2022 – 2030
- 8.4.1 North America Apricot Market, by Product, 2022 – 2030 (USD Million)
- 8.5 North America Apricot Market, by Form, 2022 – 2030
- 8.5.1 North America Apricot Market, by Form, 2022 – 2030 (USD Million)
- 8.6 North America Apricot Market, by Distribution Channel, 2022 – 2030
- 8.6.1 North America Apricot Market, by Distribution Channel, 2022 – 2030 (USD Million)
- 8.7. Europe
- 8.7.1 Europe Apricot Market, 2022 – 2030 (USD Million)
- 8.7.1.1 Europe Apricot Market, by Country, 2022 – 2030 (USD Million)
- 8.7.1 Europe Apricot Market, 2022 – 2030 (USD Million)
- 8.8 Europe Apricot Market, by Product, 2022 – 2030
- 8.8.1 Europe Apricot Market, by Product, 2022 – 2030 (USD Million)
- 8.9 Europe Apricot Market, by Form, 2022 – 2030
- 8.9.1 Europe Apricot Market, by Form, 2022 – 2030 (USD Million)
- 8.10 Europe Apricot Market, by Distribution Channel, 2022 – 2030
- 8.10.1 Europe Apricot Market, by Distribution Channel, 2022 – 2030 (USD Million)
- 8.11. Asia Pacific
- 8.11.1 Asia Pacific Apricot Market, 2022 – 2030 (USD Million)
- 8.11.1.1 Asia Pacific Apricot Market, by Country, 2022 – 2030 (USD Million)
- 8.11.1 Asia Pacific Apricot Market, 2022 – 2030 (USD Million)
- 8.12 Asia Pacific Apricot Market, by Product, 2022 – 2030
- 8.12.1 Asia Pacific Apricot Market, by Product, 2022 – 2030 (USD Million)
- 8.13 Asia Pacific Apricot Market, by Form, 2022 – 2030
- 8.13.1 Asia Pacific Apricot Market, by Form, 2022 – 2030 (USD Million)
- 8.14 Asia Pacific Apricot Market, by Distribution Channel, 2022 – 2030
- 8.14.1 Asia Pacific Apricot Market, by Distribution Channel, 2022 – 2030 (USD Million)
- 8.15. Latin America
- 8.15.1 Latin America Apricot Market, 2022 – 2030 (USD Million)
- 8.15.1.1 Latin America Apricot Market, by Country, 2022 – 2030 (USD Million)
- 8.15.1 Latin America Apricot Market, 2022 – 2030 (USD Million)
- 8.16 Latin America Apricot Market, by Product, 2022 – 2030
- 8.16.1 Latin America Apricot Market, by Product, 2022 – 2030 (USD Million)
- 8.17 Latin America Apricot Market, by Form, 2022 – 2030
- 8.17.1 Latin America Apricot Market, by Form, 2022 – 2030 (USD Million)
- 8.18 Latin America Apricot Market, by Distribution Channel, 2022 – 2030
- 8.18.1 Latin America Apricot Market, by Distribution Channel, 2022 – 2030 (USD Million)
- 8.19. The Middle-East and Africa
- 8.19.1 The Middle-East and Africa Apricot Market, 2022 – 2030 (USD Million)
- 8.19.1.1 The Middle-East and Africa Apricot Market, by Country, 2022 – 2030 (USD Million)
- 8.19.1 The Middle-East and Africa Apricot Market, 2022 – 2030 (USD Million)
- 8.20 The Middle-East and Africa Apricot Market, by Product, 2022 – 2030
- 8.20.1 The Middle-East and Africa Apricot Market, by Product, 2022 – 2030 (USD Million)
- 8.21 The Middle-East and Africa Apricot Market, by Form, 2022 – 2030
- 8.21.1 The Middle-East and Africa Apricot Market, by Form, 2022 – 2030 (USD Million)
- 8.22 The Middle-East and Africa Apricot Market, by Distribution Channel, 2022 – 2030
- 8.22.1 The Middle-East and Africa Apricot Market, by Distribution Channel, 2022 – 2030 (USD Million)
- Chapter 9. Company Profiles
- 9.1 King Apricot
- 9.1.1 Overview
- 9.1.2 Financials
- 9.1.3 Product Portfolio
- 9.1.4 Business Strategy
- 9.1.5 Recent Developments
- 9.2 Chi Tree
- 9.2.1 Overview
- 9.2.2 Financials
- 9.2.3 Product Portfolio
- 9.2.4 Business Strategy
- 9.2.5 Recent Developments
- 9.3 Bata Food
- 9.3.1 Overview
- 9.3.2 Financials
- 9.3.3 Product Portfolio
- 9.3.4 Business Strategy
- 9.3.5 Recent Developments
- 9.4 Ziba Foods
- 9.4.1 Overview
- 9.4.2 Financials
- 9.4.3 Product Portfolio
- 9.4.4 Business Strategy
- 9.4.5 Recent Developments
- 9.5 Kayisicioglu Apricot
- 9.5.1 Overview
- 9.5.2 Financials
- 9.5.3 Product Portfolio
- 9.5.4 Business Strategy
- 9.5.5 Recent Developments
- 9.6 Kenko Corporation
- 9.6.1 Overview
- 9.6.2 Financials
- 9.6.3 Product Portfolio
- 9.6.4 Business Strategy
- 9.6.5 Recent Developments
- 9.7 National Raisin Company
- 9.7.1 Overview
- 9.7.2 Financials
- 9.7.3 Product Portfolio
- 9.7.4 Business Strategy
- 9.7.5 Recent Developments
- 9.8 Dag Food
- 9.8.1 Overview
- 9.8.2 Financials
- 9.8.3 Product Portfolio
- 9.8.4 Business Strategy
- 9.8.5 Recent Developments
- 9.9 Quirkeycots
- 9.9.1 Overview
- 9.9.2 Financials
- 9.9.3 Product Portfolio
- 9.9.4 Business Strategy
- 9.9.5 Recent Developments
- 9.10 Anatolia A.
- 9.10.1 Overview
- 9.10.2 Financials
- 9.10.3 Product Portfolio
- 9.10.4 Business Strategy
- 9.10.5 Recent Developments
- 9.1 King Apricot
List Of Figures
Figures No 1 to 23
List Of Tables
Tables No 1 to 77
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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FAQs
“Asia Pacific” region will lead the global Apricots market during the forecast period 2022 to 2030.
The key factors driving the market are growth In The Trend For Ready-To-Cook Products, Help Prevent Many Diseases And Possess Curing Properties.
The key players operating in the Apricots market are King Apricot, Chi Tree, Bata Food, Ziba Foods, Kayisicioglu Apricot, Kenko Corporation, National Raisin Company, Dag Food, Quirkeycots, Anatolia A..
The global Apricots market is expanding growth with a CAGR of approximately 6.7% during the forecast period (2022 to 2030).
The global Apricots market size was valued at USD 955 million in 2021 and it is projected to reach around USD 1254 million by 2030