Dried Apricots Market

Dried Apricots Market Size, Share, Growth (2023-2028)

Dried Apricots Market size was worth US$ 0.81 million in 2023 and is anticipated to reach a valuation of US$ 1.04 billion by 2028 with a CAGR of 5.25% 

Dried Apricots Market Overview:

Dried apricots are an abundant source of iron which makes anemia useful. The daily consumption of these fruits increases the production of hemoglobin. In reality, about 24.8percent of the world's population suffers from anemia, according to the World Health Statistics report. More than 47% of pre-school children also have a low level of hemoglobin.As a rich vitamin C source, dry apricots are used in cosmetics and skin treatments. Many in western Europe use dried apricots to perform homemade skincare, including scrubbing and facial wash. Such products are used to kill skin cells as facial masks. Excellent skincare products were expected to be launched with dried apricot as the main ingredient for market growth. The world market is experiencing an increasing demand for foodstuffs that not only meet the basic nutrient requirements but also have a crucial role in disease prevention and cure. The food components that fulfill this requirement are primarily planted chemicals, including phenolic compounds, which are known to be very significant antioxidants.Dry apricots can be considered functionally as foods in this sense since they are rich in certain biologically active plant chemicals and they have for ages been used as folk medicines. Some sources report that for centuries, dried apricots have been used as a home remedy by the people of the area of the Himalayas and China. Dry apricots are described as anthelmintic, antispasmodic, expectorant, antipyretic, ophthalmic, laxative, antiseptic, emetic, tones and vulnerable.

Recent developments in Dried Apricots market:

1. Personify Software Company headquartered in Texas, purchased Wild Apricot Inc. from Canada in September 2017.

2.  Del Monte Foods, Inc. launched packaged dried apricots snacks in May 2016.

Dried Apricots Market Drivers and limitations:

The Dried Apricots market size is exponentially expanding owing to the following:

• Increasing customer adoption.

• As a result of the availability of antioxidants in dried apricot, the skin treatment helps the population. Dried Apricots helps rejuvenate the skin and preserves the dry skin, which is the main quality.

Restraints of Dried Apricots market can be 

• Strict safety and protection rules.

• High set up cost.

Opportunities of Dried Apricots market can be

• Increased penetration of Ecommerce through vertical sector.

Dried Apricots Market segmentation:

By Product:

• Organic

• Conventional

The largest segment was Conventional Goods, which accounted for more than 90% of the market volume in 2018. The sector is expected to drive growth over the forecast period through easy availability in supermarkets and convenience stores together with low prices for these items.

By Form:

• Powdered

• Whole Dried

• Diced

The most significant market share of the powdered product segment in 2018 was more than 60 percent in terms of sales. A wide range of food and drink products, as well as personal care products, should be made very simple to integrate powder formulations into the production of these products.

 The fastest CAGR is expected to be 6.3 percent from 2019 to 2025 in the decreed category in terms of revenue. The use of these items in the food industry would drive growth because of their naturally sweet taste, oatmeal, salads, snack bars, muffins, cookies, scones and other goods.

Dried Apricots Market Geographical Segmentation:

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

In 2018, the Middle East and Africa is one of the main markets. With a production of 16.5 kilo tons in the same year, Turkey had the largest regional share. Apart from consumption, the country is also the center of apricots production as it exports 80% of the world's total demand. In 2018, between 14% and 6% of dried apricots are imported from Turkey by the USA and Russia. In addition, the increased buying ability of city populations is expected to encourage buyer access in countries like Saudi Arabia, the UAE and Iran in the coming years.

Dried Apricots Market Key Players:

1. King Apricot

2. Chi Tree

3. BATA FOOD

4. KENKKO CORPORATION

5. Dag Food

6. Quirkeycots

7. Anatolia A. S.

8. IBA FOODS

9. Kayisicioglu Apricot.