Global Dried Figs By Type (Processed products, Natural products), By Application (Bakery Products, Confectionaries, Dairy Products, Other)– Industry Trends and Forecast to 2029
Market Analysis and Size
Ficus Carica, also known as common fig, is a flowering plant native to Asia. The demand for dried figs is expected to skyrocket in the coming years due to rising disposable income and increased availability around the world.
Data Bridge Market Research analyses that the dried figs market was valued at a USD 1.3 billion in 2021 is expected to reach the value of USD 1.88 billion by 2029, at a CAGR of 4.7% during the forecast period of 2022-2029.
Market Definition
Figs are one of the sweetest fruits, with a chewy texture that distinguishes it from others. Figs contain a high concentration of antioxidants, phytonutrients, minerals, and vitamins. These come in a variety of sizes and can be purchased fresh or dried. Furthermore, the fruit has no cholesterol, which helps to lower the risk of cardiovascular disease, as well as other types of cancer and stroke.
Report scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Processed products, Natural products), By Application (Bakery Products, Confectionaries, Dairy Products, Other)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Natura AS (Turkey), Izmir Organic (Italy), Aurora Natural (India), BURKAZ (Turkey), güzelcan foods. (Turkey), SEA SPREAD LIMITED (Greece), Valley Fig Growers (U.S), Nutra Fig (U.S)
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Opportunities
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Dried Figs Market Dynamics
Drivers
- Rising demand from the various end user industries
Rising demand for healthy food products, as well as the increasing use of dried figs in the food industry, such as desserts, snacks and bars, bakery products, confectioneries, cereals, and dairy products are expected to drive the dried figs market. Furthermore, rising urbanisation, growing consumer health awareness, and an increase in the number of supermarkets, hypermarkets, and retail outlets are some of the other factors driving the market's growth over the forecast period.
- Rising health awareness among the general population
Population growth and rising disposable income are expected to drive revenue growth in the global dried figs market in the coming years. Furthermore, technological advancements in the production of high-quality dried fig products are expected to drive the growth of the dried figs market in the coming years.
Opportunity
Another factor that contributes to this market's growth is the tobacco industry's robust growth, owing to its widespread use in enhancing the flavour of tobacco products around the world. The rapidly expanding hospitality industry around the world, combined with rising consumer demand for dried figs for breakfast and snacks, will drive the global dried figs market forward over the forecast period. Furthermore, high food innovation to retain food nutrients and natural flavour is one of the major drivers fueling the growth of the global dried figs market during the forecast period.
Restraints
However, fluctuating import and export price rates in specific countries, as well as higher tax rates that raise product prices, are factors that may impede the market's growth. Furthermore, changing weather patterns are expected to limit the growth of the dried figs market.
This dried figs market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the dried figs market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Dried Figs Market
The dried fig sector has suffered as a result of the pandemic in terms of production, consumption, and market performance. Due to the lockdown restrictions, the sector suffered from a lack of labour and a decrease in production efficiency. The market supply chain systems were disrupted due to transportation issues, resulting in poor market performance.
Global Dried Figs Market Scope
The dried figs market is segmented on the basis of type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Processed products
- Natural products
Application
- Bakery Products
- Confectionaries
- Dairy Products
- Other
Dried figs Market Regional Analysis/Insights
The dried figs market is analysed and market size insights and trends are provided by country, type and application as referenced above.
The countries covered in the dried figs market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
The North America market is expected to account for the largest revenue share over the forecast period, owing to increased application in the food sector and increased adoption of healthy lifestyle among individuals in the region. The market in Europe is expected to account for the second-highest revenue share during the forecast period, owing to rising demand for dried figs in baked goods and dairy products in the region. The Asia-Pacific market is expected to grow, particularly in India and China, as a result of rising consumption of healthy food products and rising prosperity among the region's middle-class population. Markets in Latin America, the Middle East, and Africa are expected to grow moderately.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Dried Figs Market Share Analysis
The dried figs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to dried figs market.
Some of the major players operating in the dried figs market are:
- Natura AS (Turkey)
- Izmir Organic (Italy)
- Aurora Natural (India)
- BURKAZ (Turkey)
- güzelcan foods. (Turkey)
- SEA SPREAD LIMITED (Greece)
- Valley Fig Growers (U.S)
- Nutra Fig (U.S)
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