Market Trends of Dried Apricots Industry
This section covers the major market trends shaping the Dried Apricots Market according to our research experts:
Increasing Demand for Organic Dried Apricots
Apricots are one of the least produced stone fruits and hence is considered a niche product. The global demand for organic apricots is constantly increasing. Consumers globally are looking for sustainable consumption and are looking for pesticide residue-free produce, especially when it comes to directly consumed food products. Certified organic apricots follow a different value chain compared to conventional apricots and organic apricots are directly sourced by processors from farms. Dried organic apricots are also increasingly consumed off-season. While the trade of fresh apricots peaks during summer and slack during winter months because of the seasonality of production, dried apricots have consistent demand over the year. The largest market globally for organic dried apricots is the United States.
Europe Leading the Global Market
Europe leads the global consumption of dried apricots. Apricots are produced extensively in Eastern Europe with production in the region standing at 245,000 metric ton in 2018. The international trade within Europe flows from Eastern Europe to Western Europe. The United Kingdom and France were the largest importers of dried apricots in Europe with imports worth USD 29.7 million and USD 28.3 million, respectively. Turkey dominated the export of dried apricots to these regions. Russia is the fastest-growing import market for dried apricots in the region with the country registering a CAGR of 3.4% over the period 2007 to 2018.
