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Dried Figs Market - Forecasts from 2022 to 2027

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    Report

  • 142 Pages
  • December 2022
  • Region: Global
  • Knowledge Sourcing Intelligence LLP
  • ID: 5716789

The dried figs market is projected to grow at a CAGR of 5.42%, reaching a market size of US$787.405 million by 2027, from US$544.246 million in 2020.

Ficus Carica, often known as the common fig, is an Asian flowering plant. Due to growing disposable income and improved availability throughout the world, demand for dried figs is predicted to surge in the future years. Figs are one of the sweetest fruits, with a chewy texture that sets them apart. Antioxidants, phytochemicals, enzymes, and vitamins are abundant in figs. These are available in a range of sizes and can be bought fresh or dried. Furthermore, the fruit has no fat, which aids in the prevention of heart disease, as well as various forms of cancer and stroke. In the future years, revenue growth in the worldwide dried figs market is predicted to be driven by population growth and increased disposable income.

Additionally, technical advances in the manufacture of high-quality dried fig products are projected to boost the dried figs market's rise in the coming years. Furthermore, rising demand for healthy food items, as well as increased usage of dried figs in the food sector, including desserts, snacks and bars, bakery goods, confectioneries, cereals, and dairy products, are likely to boost the dried figs market. Rising urbanization increased consumer health consciousness, and a rise in the number of groceries, superstores, and retail outlets are some of the major factors driving the market's expansion throughout the projection period. Therefore, all these factors will positively contribute to the market’s development and expansion.

Over the projected period, the rising medical benefits of dried figs will boost the market sales

Ficus carica fruit is utilised as a medicinal component in formulations, most notably in the Unani system of medicine, but its therapeutic applications have also been described in folk and traditional European herbal medicines, as well as Iranian traditional medicine. Due to the rising demand from consumers for health benefits, the market for dried figs is anticipated to increase during the projected period. Moreover, Caricae Fructus USP's medicinal applications and qualities are reported in the corresponding first edition of the Dispensatory of the United States of America. Consuming dried figs raises blood haemoglobin levels by boosting iron balance in the bloodstream. Iron is a vital element that helps haemoglobin flow throughout the human body. As a result, dried figs may aid in the treatment of iron-deficient anaemia. Figs, whether fresh or dried, contain potent antioxidants that help your body fight disease by neutralising free radicals. They also provide enough levels of dietary fibre, which helps to regulate the digestive tract and may aid in weight management. The American Diabetes Association suggests figs as a high-fibre treatment aids those with diabetes functional management. Fig leaves lessen the quantity of insulin required by diabetes people who must undergo insulin injections on a regular basis. Therefore, the prevalence of such health concerns will simultaneously surge the market demand.

The Middle East region is anticipated to witness a healthy growth/strong>
According to the American Botanical Council, Turkey is by far the world's top producer and exporter of figs, having shipped almost 85,000 metric tonnes in 2019. In 2019, the United States bought 15,049 metric tonnes of figs and fig products, primarily from Turkey. In southern Kandahar and the adjoining Helmand and Zabul provinces, figs are commonly cultivated. The fruit is widely utilised in homoeopathic stores throughout the war-torn country and is primarily used as medicine in traditional medical treatment among Afghans. According to the Ministry of Economy, 7.155 tonnes of figs were exported in 2021. According to the same source, Afghanistan exported figs worth $35 million USD in the previous year. Mehmet Ali I?k, President of the Aegean Dried Fruits and Products Exporters' Association, describes dried figs as a prestige product and points out that Turkey alone accounts for 60% of global dried fig exports.

Market Developments

  • In May 2022, the International Nut & Dried Fruit Council (INC) conducted the 39th World Nut and Dried Fruit Congress in Dubai, bringing together over 1,100 industry experts from more than 60 nations. The INC Congress is the only international event dedicated entirely to the nut and dried fruit sector, and the exciting three-day delegates with the most up-to-date information from the industry's top professionals. The INC is the umbrella body for the international nut and dried fruit sector. Its members include over 850 nut and dried fruit firms from over 80 countries.
  • In February 2019, according to the Afghanistan Chamber of Commerce and Industries (ACCI), Afghanistan exported figs worth about $47 million in 2019. Afghan investors in Dubai inked contracts for $35 million, $10 million of which is for fig exports. In 2019, farmers collected at least 25,000 tonnes of figs.

Market Segmentation:

By Type

  • Conventional
  • Organic

By Distribution Channel

  • Online
  • Offline

By Geography

  • North America
  • USA
  • Canada
  • Mexico
  • South America
  • Brazil
  • Argentina
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Others
  • Middle East and Africa
  • Saudi Arabia
  • UAE
  • Türkiye
  • Others
  • Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Others
Frequently Asked Questions about the Dried Figs Market

What is the estimated value of the Dried Figs Market?

The Dried Figs Market was estimated to be valued at $544.25 million in 2020.

What is the growth rate of the Dried Figs Market?

The growth rate of the Dried Figs Market is 5.4%, with an estimated value of $787.41 million by 2027.

What is the forecasted size of the Dried Figs Market?

The Dried Figs Market is estimated to be worth $787.41 million by 2027.

Who are the key companies in the Dried Figs Market?

Key companies in the Dried Figs Market include Valley Fig Growers, Negin Elixir Foods Company, Compass Food Sales Company, Traina Foods, Bella Viva Orchards, FRUITS OF TURKEY company, Cardassilaris Family and Sahra Apricots.

Table of Contents

1. INTRODUCTION
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation

2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions

3. EXECUTIVE SUMMARY
3.1. Research Highlights

4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5. DRIED FIGS MARKET BY TYPE
5.1. Introduction
5.2. Conventional
5.3. Organic

6. DRIED FIGS MARKET BY DISTRIBUTION CHANNEL
6.1. Introduction
6.2. Online
6.3. Offline

7. DRIED FIGS MARKET BY GEOGRAPHY
7.1. Introduction
7.2. North America
7.2.1. USA
7.2.2. Canada
7.2.3. Mexico
7.3. South America
7.3.1. Brazil
7.3.2. Argentina
7.3.3. Others
7.4. Europe
7.4.1. Germany
7.4.2. France
7.4.3. United Kingdom
7.4.4. Others
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.5.2. UAE
7.5.3. Türkiye
7.5.4. Others
7.6. Asia Pacific
7.6.1. China
7.6.2. Japan
7.6.3. South Korea
7.6.4. India
7.6.5. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix

9. COMPANY PROFILES
9.1. Valley Fig Growers
9.2. Negin Elixir Foods Company
9.3. Compass Food Sales Company
9.4. Traina Foods
9.5. Bella Viva Orchards
9.6. FRUITS OF TURKEY company
9.7. Cardassilaris Family
9.8. Rasha Pistachio Co.
9.9. Sahra Apricots

Companies Mentioned

  • Valley Fig Growers
  • Negin Elixir Foods Company
  • Compass Food Sales Company
  • Traina Foods
  • Bella Viva Orchards
  • FRUITS OF TURKEY company
  • Cardassilaris Family
  • Rasha Pistachio Co.
  • Sahra Apricots