Deep Analysis of Impact of COVID-19 on “Dried Apricots Market 2019-2025” Growth Worldwide….



The global dried apricots market size is expected to reach USD 985.5 million by 2025, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 4.9% during the forecast period. 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.Ş., 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.
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The global dried apricots market size was valued at USD 703.9 million in 2018 and is projected to register a CAGR of 4.9% during the forecast period. Rising importance of apricots as nut snacks on account of their nutritional composition with elements such as fiber, vitamins, minerals, and essential phytochemicals is expected to drive the growth of the market. Rising health consciousness and availability of convenient snacking options containing dried apricot is anticipated to further drive the market.
Dried apricots contain pectin and dietary fibers, which is capable of reducing cholesterol level. This factor is anticipated to bode well for the market growth. Furthermore, increasing health concerns over diabetes, Gastroesophageal Reflux Disease (GERD), and colon and prostate cancer among adults is projected to drive the product demand in near future.
Further key findings from the report suggest:
·         Organic products is projected to witness a CAGR of 5.6% from 2019 to 2025
·         Powder forms led the dried apricots market accounting for more than 70% of the global volume share in 2018
·         Middle East and Africa is expected to generate a volume of more than 65 kilo tons by the end of 2025
Dried apricots are a rich source of iron which make them useful for the treatment of anemia. Daily intake of these fruits results in increased hemoglobin production. As per the report of the World Health Statistics, around 24.8% of global population suffers from anemia. Furthermore, more than 47% of preschool children suffer from low hemoglobin level.
Being a rich source of vitamin C, dry apricots find application in cosmetics and skin care products. A large number of people in Western European countries use dried apricots for homemade skin treatments such as scrubs and face washes. These products are used as face masks for removing dead skin cells. Introduction of advanced skin care products with dried apricot as the major ingredient is anticipated to bode well for the market growth. For instance, the U.S.-based MakingCosmetics Inc. offers apricot fruit extract which can be used for facial masks, creams, and lotions.
Conventional products was the largest segment, accounting for a market share of more than 90% in terms of volume in 2018. Easy availability in supermarkets and convenience stores along with low prices of these products are expected to drive the segment growth over the forecast period.
Organic segment is expected to expand at the fastest CAGR of 6.2% from 2019 to 2025. Rising concerns about the harmful chemicals such as sulphite is attributed to drive the organic dried apricots market. Rising popularity of premium products such as Organic Turkish apricots due to their high potassium content which helps maintain heart health and prevent high blood pressure levels is expected to remain a key trend in near future.
Powdered form category accounted for the largest market share of more than 60% in terms of revenue in 2018. High ease of incorporation of powder formulations in manufacturing wide range of food and beverage and personal care products is expected to propel the segment growth.
Diced category is expected to witness the fastest CAGR of 6.3% in terms of revenue from 2019 to 2025. Rising adoption of these products in oatmeal, salads, snack bars, muffins, cookies, scones, and other such food products due to their naturally sweet taste is projected to fuel the growth.
Browse Press Release of this report:                                
https://www.grandviewresearch.com/press-release/global-dried-apricots-market
Grand View Research has segmented the global dried apricots market on the basis of product, form, distribution channel:
Dried Apricots Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 - 2025)
·         Organic
·         Conventional
Dried Apricots Form Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 - 2025)
·         Powdered
·         Whole dried
·         Diced
Dried Apricots Distribution Channel Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 - 2025)
·         Online
·         Offline

The market is competitive in nature with the presence major companies such as King Apricot, Chi Tree, BATA FOOD, KENKKO CORPORATION, NationalRaisin Company, Dag Food, Quirkeycots, Anatolia A.Ş., ZIBA FOODS, and Kayisicioglu Apricot. Companies from different industries are acquiring small vendors. For instance, in September 2017, Texas based software company Personify, acquired Canada based Wild Apricot Inc. Food and beverage manufacturers are also launching new products to gain greater market share. For instance, in May 2016, Del Monte Foods, Inc. introduced packaged Dried Apricots snacks.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.




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