Performance of product segments in the global apricots market

The global apricots market is expected to grow at a CAGR of 3.55% during the forecast period. Based on the product, the global apricots market has been segmented into conventional apricot and organic apricot.

The demand for apricot is expected to increase globally during the forecast period owing to the rising awareness among consumers about the health benefits of apricots, such as they are rich in essential vitamins and minerals. The increasing application of apricot as an ingredient in the production of various food and beverage products will also drive the demand for conventional apricot during the forecast period.

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The increasing production of apricots globally will also help in the growth of the segment during the forecast period. The global apricot production increased by about 10% between 2016 and 2017. Owing to the low price, conventional apricots are more popular compared with organic apricots among consumers that are budget conscious. Thus, the increasing applications of apricot in the production of various food and beverage products are expected to positively impact the growth of the conventional apricot segment of the global apricots market during the forecast period.