PUBLISHER: Grand View Research | PRODUCT CODE: 1631186
PUBLISHER: Grand View Research | PRODUCT CODE: 1631186
The global dried apricots market size is expected to reach USD 1,298.1 million by 2030, registering a CAGR of 5.7% from 2025 to 2030, according to a new report by Grand View Research, Inc. Rising importance of dried apricots as dietary fiber enriched products with numerous health benefits is anticipated to drive the growth. These fruits boost cell growth, and maintain health of eyes and bones. These advantages are anticipated to drive the product adoption. Furthermore, application in beauty and cosmetic products for the treatment of dead skin cells is projected to further drive the growth.
The conventional product segment held the largest market share of more than 90% in terms of volume in 2018. Rising consumer preference for these products owing to their cost-effectiveness and easy availability at convenience and retail stores is anticipated to drive the growth. On the other hand, the organic product segment is expected to register a CAGR of 5.2% in terms of volume from 2019 to 2025. Rising importance of organic labeling in food and beverage industry to limit the use of harmful ingredients is expected to drive the organic apricots segment over the next eight years.
The diced product segment is expected to witness significant growth over the forecast period on account of easy incorporation of these products as nuts in items including cookies, muffins, and snack bars among others. Furthermore, rising popularity of packaged snacks among working population owing to the convenience and ease of access is expected to expand the segment growth in the forthcoming years.
Online distribution channel is expected to expand at a CAGR of 6.0% from 2019 to 2025. Increasing use of e-commerce portals owing to the availability of value-added features including discounted prices, cash backs, and coupons is expected to remain a favorable factor for the growth of this segment over the next few years.
Some of the key players operating in this market are King Apricot, Chi Tree, BATA FOOD, KENKKO CORPORATION, NationalRaisin Company, Dag Food, Quirkeycots, Anatolia A.Az., ZIBA FOODS, and Kayisicioglu Apricot. Product innovation is expected to remain a key strategy among the industry participants in near future. For instance, in May 2016, Del Monte launched a new Dried Apricots snack.