The global dried apricots products market was valued at USD 9.8 billion in 2022 and is projected to expand at a CAGR of 4.8% from 2023 to 2030. The growing demand for healthy and nutritious food products due to the rising awareness of the health benefits associated with them is one of the major factors driving the market growth. Moreover, the increasing number of health-conscious consumers, along with the increasing disposable income, is expected to further fuel the market growth.

Dried apricots are a nutritious snack that is rich in vitamins, minerals, and antioxidants. This has led to a surge in demand for dried apricots from health-conscious consumers. Furthermore, dried apricots are also used in smoothies, salads, and desserts, which is increasing the demand for these products. In addition, the increasing demand from the food and beverage industry, coupled with the growing focus on introducing healthy snacks, is expected to drive the market.

Moreover, the increasing demand for dried apricots from the bakery and confectionery industry is driving the market. Dried apricots are used in a variety of baked goods, such as muffins, scones, cookies, and cakes. Furthermore, rising consumer preference for natural and organic products is expected to drive the market. Manufacturers are focusing on introducing organic dried apricots to meet the growing demand from consumers.

The key market participants are focusing on introducing innovative products to meet the changing consumer preferences. For instance, in July 2021, Alara Organics launched a new range of organic dried apricots. The new range of dried apricots is made with no added sugar and is organic, vegan, and gluten-free. Furthermore, the increasing demand for dried apricots from the confectionary industry is expected to further drive the market.

In addition, the rising popularity of dried apricots in developing countries is expected to supplement the market growth. The rising awareness about the health benefits associated with dried apricots is expected to drive the demand for these products in developing countries. Furthermore, the increasing disposable income and the rising number of health-conscious consumers are expected to support market growth.

The dried apricot segment led the market and accounted for a share of around 30.2% in 2019. The rising demand for dried apricots is due to the several health benefits associated with them. Dried apricots are a rich source of dietary fiber and minerals such as potassium, magnesium, and iron. Furthermore, they are also an excellent source of vitamin A, which helps to maintain healthy eyesight and improve the overall health of the skin. Moreover, increasing disposable income and rising health awareness among consumers have propelled the demand for dried apricots.

The canned dried apricot segment is anticipated to expand at the fastest CAGR of 6.1% over the forecast period. Canned dried apricots are convenient to use and have a longer shelf-life than fresh apricots, making them suitable for long-term storage. Moreover, canned dried apricots are easy to transport and are cost-effective compared to fresh apricots. These factors are expected to drive the demand for canned dried apricots in the global market.

The supermarkets and hypermarkets segment dominated the market and accounted for a share of over 40% in 2022. Supermarkets and hypermarkets are the most preferred distribution channels among consumers as they provide a wide variety of products. Furthermore, supermarkets and hypermarkets have their own retail outlets and e-commerce stores that make the purchasing process easier and convenient. The increasing availability of dried apricots products in supermarkets and hypermarkets is aiding the growth of the segment.

The traditional stores segment is anticipated to register the highest CAGR of 8.6% over the forecast period. Traditional stores are convenient for consumers as they are easily accessible and are located nearby. Furthermore, traditional stores provide a personal touch to the buying experience, which is usually not available in other distribution channels. They also provide customers a chance to touch and feel the product before purchasing. Consumers also benefit from getting discounts and offers from the traditional stores.

The organic segment is projected to expand at the highest CAGR of 8.2% during the forecast period. The growing health awareness among consumers and the rising demand for organic products are the main factors driving the organic segment. Additionally, the availability of organic dried apricots in different formats such as slices, cubes, and diced is propelling market growth. Increasing health concerns among consumers and the increasing acceptance of organic products are boosting the demand for organic dried apricots.

The conventional segment is expected to account for the largest revenue share of 46.5% in 2022. The conventional segment is projected to lead the market due to its low cost, availability of various flavors, and longer shelf life. Additionally, the presence of large-scale players in the conventional segment is increasing the demand for conventional dried apricots. For instance, the conventional dried apricots offered by Turunç are available in different flavors such as sweet, sour, and plain.

Europe holds the largest market share for dried apricots, primarily due to the growing popularity of health-conscious diets. Consumers in the region are increasingly adopting diets that are rich in fiber and minerals, which are found in dried apricots. Moreover, the presence of a strong distribution network in the region is further contributing to the growth of the market. For instance, in December 2021, the Austria-based food company, Semper, launched a range of dried apricot products in the European market.

Asia Pacific is expected to witness the fastest growth during the forecast period. The demand for dried apricots is increasing in the region, owing to the growing awareness about the various health benefits of consuming dried apricots. Moreover, increasing disposable incomes and rapid urbanization in the region are expected to drive the market in the coming years. For instance, in April 2021, the China-based company, Yantai Yaohuang Agriculture, launched a range of organic dried apricots in the market.

In this part of the dried apricots products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your dried apricots products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main sources of revenues for a dried apricots products business come from the wholesale and retail sales of dried apricots and related products. Here you will find a list with a description of each of them and other possible sources of profit such as online sales, special events, and catering services.

Projecting Expenses
In this section, all the regular expenses related to keeping the dried apricots products business running will be described. The list of operating expenses includes rent, salaries, packaging materials, shipping, marketing, advertising, and other administrative expenses.

Some of the key companies operating in the dried apricots market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In October 2022, Sun-Maid launched a new range of dried apricots in the US, featuring a blend of premium-grade apricots, offering a superior taste and texture.

– In November 2022, Tree Top launched a range of dried apricots that are free from preservatives and added sugar, to meet the growing demand for healthy snacks.

– In December 2022, Sun Valley launched a range of dried apricot products that are certified organic, offering consumers a healthier and more sustainable snacking option.

Some of the prominent players in the dried apricots market include:

– Sun-Maid
– Tree Top
– Sun Valley
– California Dried Fruit
– SunOpta
– Sun-Pac
– California Apricot Products
– Nuts.com
– Sun Pacific
– Sunsweet Growers Inc.

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global dried apricots products market based on product type, distribution channel, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Natural Dried Apricots
– Preserved Dried Apricots
– Other Types

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What is the Market Outlook for Dried Apricots?
[A]: The global dried apricots market is projected to grow at a CAGR of 11.1% during the forecast period of 2019–2025. Increasing health consciousness, especially among the young population, as well as rising disposable incomes, are expected to drive the growth of the market.

[Q]: What are the Major Drivers of Dried Apricots Market Growth?
[A]: The major drivers of the dried apricots market growth include the growing demand from health-conscious consumers, increasing prevalence of lifestyle diseases, rising disposable incomes, and the growing demand from the bakery industry.

[Q]: What are the Key Market Segments in the Dried Apricots Market?
[A]: The key market segments for the dried apricots market include product type, distribution channel, and region. By product type, the market is segmented into organic and conventional dried apricots. By distribution channel, the market is divided into direct selling, supermarkets/hypermarkets, convenience stores, and online retail.

[Q]: What is the Regional Outlook for the Dried Apricots Market?
[A]: The regional outlook for the dried apricots market shows that Asia Pacific is expected to be the largest regional market during the forecast period, followed by North America, Europe, and the rest of the world. In Asia Pacific, countries such as India, China, and Japan are expected to be the major contributors to the regional market growth.

[Q]: What are the Major Strategies Adopted by Key Players in the Dried Apricots Market?
[A]: The key players in the dried apricots market are focusing on strategies such as product launches, mergers and acquisitions, and expansions to increase their market share and presence. For instance, in April 2018, the Turkish company, Hayat Kimya, launched a new range of dried apricots under the brand name “Hayat Apricots”.