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The Apricot Market was at US$ 955 Million in 2021 and is growing to approx US$ 1254 Million by 2030, with a CAGR growth of 6.7% between 2027 and 2030.

SANDY, UTAH, UNITED STATES, October 24, 2022 /EINPresswire.com/ -- According to the study, The Global Apricot Market was estimated at USD 955 Million in 2021 and is anticipated to reach around USD 1254 Million by 2030, growing at a CAGR of roughly 6.7% between 2027 and 2030.

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Apricot Market: Overview

The global Apricot market is expected to grow at a compound annual growth rate of 4.9% during the forecast. The apricot market is expected to grow well in the coming years as there has been an increase in the concern about diabetes, prostate, and colon cancer. In addition, an increase in the cases of gastroesophageal reflux disease will also lead to increased consumption of app records. The high amount of dietary fiber and pectin in apricots will make them the best option for different conditions. As it happens to be a Healthy option for snacking, the market is expected to grow well in the coming years.

Apricot Market: Growth Drivers

One of the most important factors helping in the growth of the African market is the health benefits associated with its consumption. Apricots are considered to be the best sources of vitamin E, C, and vitamin A period they provide a large number of antioxidants, iron, fiber, and calories. Night blindness can be prevented with the consumption of apricots as they have a higher amount of vitamin A period apricots are also helpful in reducing skin acne and other skin issues. Gut health is also promoted due to the consumption of apricots.

Skin and eye health are also maintained due to the consumption of apricots, and all of these factors will help in the market’s growth in the coming years. in recent years, the popularity of plant-based food products has increased. Food and health safety concerns are other reasons why the market is expected to grow well in the coming years. As folic is available in large quantities in plant-based products, the market is expected to grow well. The high amount of potassium and magnesium will also lead to market growth in the coming years.

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Key Insights:

A) As per the analysis shared by our research analyst, the Apricot market is estimated to grow annually at a CAGR of around 6.7% over the forecast period (2022-2030).
B) In terms of revenue, the Apricot market was valued at around USD 955 Million in 2021 and is projected to reach USD 1254 Million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Some of the major restraints in the growth of the apricot market are the strict safety norms laid down by the various government of various nations. Also, the setup cost associated with processing apricot for multiple usages in different industries is exceptionally high, due to which the market growth will be hampered in the coming years.
D) The availability of apricot-only online platforms will provide significant opportunities for the growth of the market in the coming years. the commerce platforms have boomed in recent years, mainly due to the outbreak of the COVID pandemic, and the market is expected to grow well in the coming years due to a large number of sales generated through the online forms.
E) The high cost of organic apricots is expected to be a significant challenge in the market’s growth. Apricots are not produced on a vast scale, which is expensive. In addition, political unrest and war between Ukraine and Russia have created inflation.

Press Release For Apricot Market : https://www.custommarketinsights.com/press-releases/apricot-market-size/

Regional Landscape

The Asia Pacific region is expected to grow with the highest compound annual growth rate, which is expected to be 7.5% in the coming years in terms of the revenue generated. As consumption patterns have changed and the behavior of consumers has also changed, the demand for apricots is expected to grow in the Asia Pacific region during the forecast period.

Increase in disposable income in various nations across the Asia Pacific region, especially the countries like India and China; the demand is expected to grow in the coming years. The maximum consumption of apricots is in China, where there are many consumers. About 80% of apricots that are produced in China are exported to other countries in the Central Asian region. In the past, the maximum share was held by the African and Middle East regions, and they had a market share of about 30% in revenue.

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Key Players

King Apricot
Chi Tree
Bata Food
Ziba Foods
Kayisicioglu Apricot
Kenko Corporation
National Raisin Company
Dag Food
Quirkeycots
Anatolia A.

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The Apricot Market is segmented as follows:

By Product

Organic
Conventional

By Form

Powdered
Whole dried
Diced

By Distribution Channel

Online
Offline

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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