|Market Size in 2018
|Market Forecast in 2026
|CAGR (in %)
|USD 538 Million
|USD 836 Million
Dried Apricots Market
Apricot is a sweet-tasting fruit that is rich in nutrients and fiber along with the perfect quantity of carbohydrates. However, these get bruised easily and hence a better way to consume them is in the form of dry apricots, which have the same health benefits as fresh apricots. Dried apricots are gaining worldwide popularity, due to their diverse nutritional benefits and can even be used to fight anemia due to their rich iron content.
The dried apricots market is expected to show significant growth in the future, owing to the growing health consciousness. The busy lifestyle of people is restraining them from maintaining proper diet, which is driving the demand for dried apricots as they have several nutritional benefits. Increasing disposable income is also expected to drive the market as consumers feel free to spend more on healthy food options. However, the use of additives in these dried apricots may hinder the market. Promotional and health campaigns regarding the benefits of dried apricots are expected to provide additional growth opportunities to this market in the future.
The global dried apricots market is fragmented based on form, nature, application, and distribution channels. By form, the dried apricots market includes whole dried, granular, and powdered. The whole dried segment dominates the market currently, due to its easy availability and low price.
On the basis of nature, the dried apricots market includes organic and conventional. The conventional segment holds a major market share, owing to its easy preparation and cost-friendly nature. Organic dried apricots have seen a significant popularity rise in the last few years, due to increased health-consciousness of the global population, as consumers prefer more natural and healthy products.
By application, the dried apricots market can be segmented into food and beverages, personal care, pharmaceuticals, and cosmetics. Food and beverage industry has wide applications of dried apricots, due to their sweet taste and nutritional properties. The pharmaceutical sector is also expected to witness significant growth in the future, as the dried apricot consumption helps in the prevention of various diseases.
The global dried apricots market is classified on the basis of distribution channel into hypermarkets/supermarkets, B2B, e-commerce, specialty retail, and others. Supermarkets/hypermarkets dominate the market by being the most preferred by consumers due to their tangibility. Additionally, the rise in the demand for e-commerce in recent years has led to the growth of this channel. This segment is expected to grow further over the forecast time period.
North America is expected to show significant growth in the dried apricots market over the forecast time period, owing to the increasing disposable income of the regional population and flourishing food and beverage industry. Europe dominates the dried apricots market globally, due to the rising health-related problems in urban areas. Thus, regional consumers now prefer foods that have high nutritional properties.
Some key players in the dried apricots market are King Apricot, Purcell Mountain Farms, Bergin Fruit and Nut, B & R Farms, Sun-Maid Growers of California, JAB Dried Fruit Products, and Fruits of Turkey.