Fresh Apricot Market Size, Share, Opportunities, And Trends By Type (Yellow Apricot, Orange Apricot, Red-Purple Apricot, Others), By Nature (Organic, Conventional), And By Geography - Forecasts From 2023 To 2028

  • Published : Jul 2023
  • Report Code : KSI061615300
  • Pages : 123

The global fresh apricots market is projected to grow at a CAGR of 1.56%, reaching US$533.937 million in 2028 from US$479.234 million in 2021.

Fresh apricot is a type of stone fruit that is small, juicy, and predominantly yellow with a tarty taste. Apricots are packed with nutrients and add to a balanced diet. They are grown in temperate climates, such as the Mediterranean region. The fruit is frequently used as a liqueur flavouring agent and is extensively processed into jam.

The high popularity of fresh apricots is attributed to the growing demand for healthy and convenient snacking solutions, especially amongst the younger generation. Nowadays, consumers prioritize their health and wellness and favour snacks and meals that will improve their well-being and give them a balanced diet. Moreover, the growing demand for organic, natural, and preservative-free products is also spurring the growth of fresh apricots among consumers. According to a study conducted by the CITFL, 98 percent of respondents like consuming fresh apricot because they are perfectly convenient and ready-to-eat snacks on the go. Fresh apricots are used in various desserts, beverages, and snacks, such as pies, cakes, pastries, puddings, ice creams, etc. Fresh apricots are rich in natural sugar and are a strong source of vitamin A, contributing to its high demand.

While the global market for fresh apricots is expected to grow during the projection period, high and volatile prices, stringent export and import laws, and a lack of knowledge will inhibit growth.

The health benefits and growing demand for healthy food products are augmenting the demand for fresh apricots.

The vitamins and minerals found in apricots are important to the health of our bodies. They are particularly abundant in dietary fiber, potassium, and vitamins A and C. One serving of apricots might be satisfactory and provide nearly 25 percent of a person's daily potassium requirements. Consumption of apricots help prevent cardiovascular disorders, improves digestion, lowers blood sugar level, help in disposing of cellular waste, and improves eyesight.

Busy lifestyles, demanding work schedules, and changing dietary preferences have increased consumers' propensity for healthy snacking options, particularly among millennials. They have changed their food preferences to plant-based foods that can offer health and flavour, driving the global market demand.

Organically sourced fresh apricots are witnessing huge demand. 

Growing demand for organic, natural, nutritional, and pesticide-free products is driving the growth of this market. Consumer shift towards organic agriculture is also propelling the demand for organic fresh apricots. According to the latest FAO estimates, organic farming is conducted in 187 countries globally, and at least 3.1 million farmers used organic practices to manage 72.3 million hectares of agricultural land. Organic food and drink globally accounted for more than 106 billion euros in 2019.

North America is anticipated to hold a significant share of the global fresh apricot market.

North American region is anticipated to hold a substantial market share in fresh apricots. This region will experience rapid expansion throughout the projection period due to the growing demand for healthy and convenient snacking solutions. According to the Food and Health survey conducted by the IFIC, studies show that one-third of Americans indulge in snacking at least once every day, and almost a quarter claim to do so numerous times each day. This region's market is also expanding due to the high demand for health, nutritional, and natural food products and beverages, along with the growing millennial population. According to the NASS data, in 2021, there were 41,740 tonnes of apricots produced in the United States, worth US$37 million. From 2020 to 2021, the tonnage increased by 10,330 tonnes. Fresh apricots were worth $27.6 million. Exports of fresh apricots from the United States in 2021 totalled 13.9 million pounds and were worth US$13 million. In 2021, Canada remained the top export destination for fresh apricots, paying approximately US$8,256. Mexico came in second with US$2,577. They are becoming more popular among people in this region due to rising health awareness of the fresh apricot machines, thereby fueling regional market expansion. In addition, the prevalence of key market players such as Dole Food, Ardo, Crop’s NV, Earthbound Farm, and others also spur the growth of fresh apricots in this region.

Market Developments:

  • In September 2022, the Indian Ministry of Commerce and Industry was working with stakeholders in the apricot value chain to increase exports from Ladakh under the brand "Ladakh Apricot" to increase the export of agricultural and food goods from Ladakh. This initiative is being carried out through APEDA, the ministry's export promotion organization. The region's growth is anticipated to benefit from APEDA's efforts to promote the export of apricots and other agricultural goods.

Fresh Apricot Market Scope:

 

Report Metric Details
Market Size Value in 2021 US$479.234 million
Market Size Value in 2028 US$533.937 million
Growth Rate CAGR of 1.56% from 2021 to 2028
Base Year 2021
Forecast Period 2023 – 2028
Forecast Unit (Value) USD Million
Segments Covered Type, Nature, and Geography
Regions Covered North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies Covered Dole Food, Ardo, Crop’s NV, Earthbound Farm, Hain Celestial, SunOpta, SunPacific, Welch’s Foods
Customization Scope Free report customization with purchase

 

Market Segmentation:

  • By Type
    • Yellow Apricot
    • Orange Apricot
    • Red-Purple Apricot
    • Others
  • By Nature
    • Organic
    • Conventional
  • By Geography
    • North America
      • United States
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • United Kingdom
      • Germany
      • France
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Israel
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • South Korea
      • Indonesia
      • Thailand
      • Others

Frequently Asked Questions (FAQs)

The fresh apricots market is projected to grow at a CAGR of 1.56% during the forecast period.
The global fresh apricots market is projected to reach a market size of US$533.937 million by 2028.
Fresh Apricot Market was valued at US$479.234 million in 2021.
North America is anticipated to hold a significant share of the global fresh apricot market due to the growing demand for healthy and convenient snacking solutions.
The various health benefits and growing demand for healthy food products will support the growth of the global fresh apricots market.

1.  INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Force Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. FRESH APRICOT MARKET BY TYPE

5.1. Introduction

5.2. Yellow Apricot

5.3. Orange Apricot

5.4. Red-Purple Apricot

5.5. Others

6. FRESH APRICOT MARKET BY NATURE

6.1. Introduction

6.2. Organic

6.3. Conventional

7. FRESH APRICOT MARKET BY GEOGRAPHY

7.1. Introduction

7.2. North America

7.2.1. United States

7.2.2. Canada

7.2.3. Mexico

7.3. South America

7.3.1. Brazil

7.3.2. Argentina

7.3.3. Others

7.4. Europe

7.4.1. United Kingdom

7.4.2. Germany

7.4.3. France

7.4.4. Spain

7.4.5. Others

7.5. Middle East and Africa

7.5.1. Saudi Arabia

7.5.2. UAE

7.5.3. Israel

7.5.4. Others

7.6. Asia Pacific

7.6.1. Japan

7.6.2. China

7.6.3. India

7.6.4. South Korea

7.6.5. Indonesia

7.6.6. Thailand

7.6.7. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Emerging Players and Market Lucrativeness

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Vendor Competitiveness Matrix

9. COMPANY PROFILES

9.1. Dole Food

9.2. Ardo

9.3. Crop’s NV

9.4. Earthbound Farm

9.5. Hain Celestial

9.6. SunOpta

9.7. SunPacific

9.8. Welch’s Foods


Dole Food

Ardo

Crop’s NV

Earthbound Farm

Hain Celestial

SunOpta

SunPacific

Welch’s Foods