Dried Figs Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 5.42 % |
| Fastest Growing Market | Middle East and North Africa |
| Largest Market | Middle East and North Africa |
Dried Figs Market Analysis
The Dried Figs Market size is expected to grow from USD 599.07 million in 2023 to USD 780 million by 2028, at a CAGR of 5.42% during the forecast period (2023-2028).
- Middle Eastern countries such as Turkey, Iran, and Afghanistan are among the top producers of dried figs. Turkey is the largest producer, accounting for about 70% of the world's dried fig production, followed by Iran, which accounts for around 15% of global production. The climate in these countries is well-suited for cultivating figs, and they have a long history of growing and exporting this fruit.
- Nearly 15-20% of the world's dry fig production is consumed by the producer countries, and the remaining portion of the domestic consumption of the producer countries is exported. Figs are produced in a limited number of countries worldwide due to their specific growing requirements. They thrive in warm, dry climates and require a specific type of wasp for pollination.
- Axcording to FAO, Turkey is the major producing country of figs, followed by Egypt, Iran, Morocco, Algeria, Iran, Syria, the USA, and Spain. In 2021, Turkey ranked first with approximately 300,000 tons of production and about 30% of World Wet fig production. The world's annual fig production was about 1,121,000 tons in 2021; dried fig production accounted for one-quarter of the fig production, with around 105.000 tons.
- According to the National Agricultural Statistics Service, the United States is both an importer and exporter of figs. While the country produces figs, over 80% of the figs produced in the United States go into processing industries due to the demand for dried figs. This is because dried figs have a longer shelf life and can be used in a variety of products, including baked goods, snacks, and breakfast cereals. As a result, the rising inclusion of figs in the processed industry will likely accelerate the demand for figs over the forecast period.
Dried Figs Market Trends
Rising Per Capita Consumption from High-income Economies
- A relatively higher per capita consumption has been observed in the high-income economies. For instance, as per the facts revealed by the International Nut & Dry Fruit Council, dried figs account for 6% of the overall dried fruit consumption in high-income economies. In contrast, they account for merely 3% of the overall dried fruit consumption across middle-income economies.
- According to FAO's statistical yearbook of 2020-2021, the per capita consumption was highest in Iran, which was 0.43 kg per year per person, followed by Switzerland and UAE, with 0.37 kg and 0.28 kg per year per person, respectively. This unveils the potential opportunity for high-income economies over middle-income economies.
- However, the production of figs in high-income countries like Germany, France, Canada, and Switzerland is negligible. The demand for dried figs in these countries is being fulfilled by import. According to International Trade Center (ITC) Trade, Germany was the second topmost country that imported 23,286 metric tons of dried figs in 2021. Consumption, import & export of dried figs increased globally. Hence, these factors are expected to drive the market.
Iran is Expected to Dominate the Dried Figs Market
- Iran is a major consumer and one of the world's largest producers and exporters of figs. According to FAO, global annual fig production ranges at 1.2 million mt and Iran is the fifth most significant producing country. Iran is also the most important supplier of fresh figs and the third most important exporter of dried figs after Turkey and Afghanistan. Fig production reached 84,000 mt in Iran in 2021/2022, of which 13,600 mt were exported as dried figs.
- According to the statistics released by the Tropical and Subtropical Fruits Department of Agriculture Ministry, Iran produced nearly 25,000 tons of figs in 2020. Thus, the country's status as the second largest producer is paralleled by the lower consumption in other countries. Turkey will likely be treated as a potential opportunity to serve the international markets. This could enhance the per capita consumption of dried figs over the coming years.
Dried Figs Market News
- June 2023: At the recent THAIFEX - Anuga Asia 2023, Turkey-based organic snacks brand Sunny Fruit introduced its latest "functional fruit" range, including Prebiotic Organic Dried Apricots, Prebiotic Organic Dried Figs, and Organic Fig & Walnut Balls with Added Probiotics and Prebiotics.
- February 2023: In India, the Karnataka state government implemented a district import action plan for all agricultural products, including figs. Visvesvarya Trade Promotion Center (VTPC), the nodal agency for the promotion of exports from the State, drew the action plan district-wise to capture the potential, present status, and future prospects in domestic and international markets.
Dried Figs Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain Analysis
5. MARKET SEGMENTATION
5.1 Geography (Production Analysis in Volume, Consumption Analysis by Volume and Value, Import Analysis by Value and Volume, Export Analysis by Value and Volume, and Price Trend Analysis)
5.1.1 North America
5.1.1.1 United States
5.1.1.2 Canada
5.1.1.3 Mexico
5.1.2 Europe
5.1.2.1 France
5.1.2.2 Germany
5.1.2.3 Russian Federation
5.1.2.4 United Kingdom
5.1.2.5 Italy
5.1.2.6 Switzerland
5.1.2.7 Greece
5.1.3 Asia-Pacific
5.1.3.1 India
5.1.3.2 China
5.1.3.3 Australia
5.1.4 Middle East
5.1.4.1 Iran
5.1.4.2 United Arab Emirates
5.1.4.3 Saudi Arabia
6. MARKET OPPORTUNITIES AND FUTURE TRENDS
Dried Figs Industry Segmentation
Dried figs are the dehydrated form of the fig fruit of Ficus carica, a species of small tree in the flowering plant family Moraceae, native to the Mediterranean region, together with western and southern Asia. For the purpose of the study, only dry figs have been considered for analyzing the trends across various global demographics.
The dried figs market offers an analysis of production (volume), consumption (value and volume), import (value and volume), export (value and volume), and price trend. The market is segmented by geography (North America, Europe, Asia-Pacific, and the Middle East).
The market sizing has been done in value terms in USD for all the abovementioned segments.
| Geography (Production Analysis in Volume, Consumption Analysis by Volume and Value, Import Analysis by Value and Volume, Export Analysis by Value and Volume, and Price Trend Analysis) | |||||||||
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Dried Figs Market Research FAQs
What is the current Dried Figs Market size?
The Dried Figs Market is projected to register a CAGR of 5.42% during the forecast period (2024-2029)
Which is the fastest growing region in Dried Figs Market?
Middle East and North Africa is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Dried Figs Market?
In 2024, the Middle East and North Africa accounts for the largest market share in Dried Figs Market.
What years does this Dried Figs Market cover?
The report covers the Dried Figs Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Dried Figs Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Dried Figs Industry Report
Statistics for the 2024 Dried Figs market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Dried Figs analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
