North America Dried Apricots Market

North America Dried Apricots Market Size Growth Analysis 2022 - 2027:

North America Dried Apricots Market was worth USD XX million in 2020, so it is estimated to reach USD XX million by 2026, growing at a CAGR of XX%. Dried apricots are high in vitamin A, C, K, and B complex, as well as organic acids like malic acid and citric acid. Furthermore, dried apricots are a good source of potassium and carotenoids (vitamin A), as well as being high in fiber and used to alleviate constipation. Dried apricots have a long shelf life and are easy to transport. The consumption of dried apricots is expected to skyrocket in the near future as expendable income increases and people become more concerned about health advantages. Additionally, the growing manufacturing and accessibility of natural forms of such items are expected to drive up growth over the coming years.

Recent Developments

1. In September 2017, Personify Software Company, based in Texas, acquired Wild Apricot Inc. from Canada.
2. In May 2016, Del Monte Foods, Inc. introduced packaged dried apricot snacks.

Market Growth

Drivers

Dried apricots possess pectin and dietary fiber, both of which can help lower cholesterol levels. This element is expected to fuel market growth. Also, rising health risks among people about hyperglycaemia, gastrointestinal disorders, colon and prostate cancer are expected to increase the product market in the near future. Dry apricots are used in personal care and beauty products because they are rich in vitamins C. Many individuals use dried apricots in homemade skincare products such as exfoliators and face cleansers. These products are used as face masks to exfoliate dead cells. The launch of innovative skincare products including dried apricot as the main ingredient is expected to boost the market growth. People's busy and chaotic lifestyles make it difficult for them to maintain a good diet, resulting in a large intake of food products with several nutritional benefits. Dried apricots are a favourite nut snack among consumers due to their sweet taste and low glycaemic index. They provide nutrients that are necessary for a healthy body and aid in the prevention of various ailments. Furthermore, rising disposable income has allowed customers to spend more on nutritious foods such as dry fruits. All of these reasons contribute to the expansion of the dried apricots market. Consumer demand has prompted producers to add dried apricots in a variety of culinary items, including cereals, cookies, biscuits, pastries, jellies, chocolates, snack bars, muffins, scones, and others. The widespread use of dried apricots in the foodservice industry has further benefited dried apricot revenues in recent times.

Restraints

Overindulgence of dried apricots with processed sugar can contribute to weight gain and diabetes, and the high cost of dried apricots is one of the reasons projected to stymie the dried apricots market's growth.

Market Segmentation

The North America Dried Apricots Market is segmented by Product and Form.

By Product

• Organic

• Conventional

The market is segmented into Organic and Conventional. The conventional items accounted for the majority of the market. The segment's growth is predicted to be driven by the items' easy availability in supermarkets and convenience stores, as well as their inexpensive prices. Certified organic apricots have a separate value chain from conventional apricots, and organic apricots are sourced directly from farms by processors.

From 2019 to 2025, the organic segment is predicted to grow at the quickest rate. The organic dried apricots market is being driven by rising worries about hazardous compounds such as sulfite. The increased popularity of premium products such as Organic Turkish apricots due to their high potassium content, which aids in heart health and the prevention of high blood pressure levels, is predicted to continue in the near future. Consumers want sustainable consumption and pesticide residue-free produce, particularly when it comes to directly consume food goods.

By Form

• Powdered

• Whole Dried

• Diced

The market can be categorized into Powdered, Whole Dried, and Diced. The powdered form category held the most share in the market. The segment's expansion is likely to be fueled by the ease with which powder formulations may be included in a wide range of food, beverage, and personal care items.

From 2019 to 2025, the diced category is predicted to increase at the fastest rate in terms of sales. Because of their naturally sweet taste, these goods are expected to gain popularity in oats, salads, snack bars, muffins, cookies, scones, and other similar culinary products. Dried apricots have both edible and medicinal applications. Consumption of dry fruits as evening snacks or morning breakfast is on the rise, which will directly increase the consumption of dried apricots as snacks due to their delicious taste and vibrant flavor. On the other hand, factors such as changing lifestyle and growing consumer awareness about the benefits of eating right are driving up demand for healthy snacks. Dried apricots are natural and high in vitamins, fiber, and minerals, making them a favorite snack and ingredient in ready-to-cook items.

Regional Analysis

• U.S

• Canada

• Rest of North America

Off-season demand for dried organic apricots is also increasing. Due to the growing season, fresh apricot sales peak in the summer and fall in the winter, whereas dried apricots have consistent demand all year. The United States has the largest organic dried apricot market. Investors should expect larger returns in the foreseeable future due to a rise in demand for dried apricots. Dried apricots are in high demand in the food business, particularly in the snack and ready-to-cook food sectors.

Impact of COVID-19 on North America Dried Apricots Market

The Dried Apricots market is rapidly approaching pre-COVID levels, and a solid growth rate is predicted throughout the forecast period, fueled by the economic recovery. However, unprecedented conditions as a result of the projected third and subsequent waves are producing a bleak prognosis.

Key Players

Major Players in the North America Dried Apricots Market are

• King Apricot

• Chi Tree

• BATA FOOD

• KENKKO CORPORATION

• Dag Food

• Quirkeycots

• Anatolia A. S.

• ZIBA FOODS

• Kayisicioglu Apricot