World - Apricots - Market Analysis, Forecast, Size, Trends and Insights
Global Apricot Market 2019 - The Market Size Reached $5.9B, Growing Modestly But Robustly Over The Third Consecutive Year
IndexBox has just published a new report: 'World - Apricots - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.
The global apricot market revenue amounted to $5.9B in 2018, surging by 2.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.9% over the period from 2007 to 2018; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2008, with an increase of 21% y-o-y. Over the period under review, the global apricot market attained its peak figure level at $6.6B in 2013; however, from 2014 to 2018, consumption remained at a lower figure.
Global apricot production amounted to 4.4M tonnes in 2018, growing by 4% against the previous year. The total output volume increased at an average annual rate of +2.8% from 2007 to 2018; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period.
In 2018, approx. 362K tonnes of apricots were exported worldwide; surging by 2.4% against the previous year. In general, the total exports indicated aoutstanding expansion from 2007 to 2018: its volume increased at an average annual rate of +6.2% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the apricot exports increased by +20.3% against 2012 indices. In value terms, apricot exports amounted to $458M (IndexBox estimates) in 2018.
Exports by Country
In 2018, Spain (101K tonnes) represented the key exporter for apricots, comprising 28% of total exports. Uzbekistan (43K tonnes) occupied the second position in the ranking, followed by France (37K tonnes), Turkey (36K tonnes), Italy (27K tonnes), Afghanistan (26K tonnes), Suriname (20K tonnes) and Greece (19K tonnes). All these countries together occupied approx. 57% share of total exports.
Exports from Spain increased at an average annual rate of +11.9% from 2007 to 2018. At the same time, Suriname (+120.3%), Uzbekistan (+21.5%), Afghanistan (+20.6%), Italy (+9.4%), Turkey (+8.3%) and Greece (+1.4%) displayed positive paces of growth. Moreover, Suriname emerged as the fastest growing exporter in the world, with a CAGR of +120.3% from 2007-2018. By contrast, France (-2.6%) illustrated a downward trend over the same period. Spain (+20 p.p.), Uzbekistan (+10 p.p.), Afghanistan (+6.2 p.p.), Turkey (+5.8 p.p.), Suriname (+5.4 p.p.) and Italy (+4.6 p.p.) significantly strengthened its position in terms of the global exports, while France saw its share reduced by -3.4% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Spain ($174M) remains the largest apricot supplier worldwide, comprising 38% of global exports. The second position in the ranking was occupied by France ($51M), with a 11% share of global exports. It was followed by Uzbekistan, with a 10% share.
Export Prices by Country
The average apricot export price stood at $1,266 per tonne in 2018, growing by 3% against the previous year. Over the period under review, the apricot export price, however, continues to indicate a significant contraction. There were significant differences in the average export prices amongst the major exporting countries. In 2018, the country with the highest export price was Spain ($1,725 per tonne), while Suriname ($392 per tonne) was amongst the lowest.
From 2007 to 2018, the most notable rate of growth in terms of export prices was attained by Suriname, while the other global leaders experienced mixed trends in the export price figures.
In 2018, the amount of apricots imported worldwide stood at 360K tonnes, declining by -3.9% against the previous year.In value terms, apricot imports stood at $377M (IndexBox estimates) in 2018.
Imports by Country
The imports of the twelve major importers of apricots, namely Russia, Germany, Iraq, Kazakhstan, Pakistan, France, Italy, the UK, Poland, Saudi Arabia, Austria and Switzerland, represented more than two-thirds of total import.
From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Iraq (+79.5% per year), while the other global leaders experienced more modest paces of growth.
In value terms, Germany ($57M), Russia ($42M) and France ($36M) were the countries with the highest levels of imports in 2018, with a combined 36% share of global imports. Kazakhstan, the UK, Italy, Austria, Poland, Switzerland, Pakistan, Iraq and Saudi Arabia lagged somewhat behind, together comprising a further 36%.
Import Prices by Country
The average apricot import price stood at $1,048 per tonne in 2018, declining by -15.2% against the previous year. Overall, the apricot import price continues to indicate a deep shrinkage. There were significant differences in the average import prices amongst the major importing countries. In 2018, the country with the highest import price was France ($1,705 per tonne), while Iraq ($213 per tonne) was amongst the lowest.
From 2007 to 2018, the most notable rate of growth in terms of import prices was attained by Kazakhstan, while the other global leaders experienced a decline in the import price figures.
Source: IndexBox AI Platform
This report provides an in-depth analysis of the global apricot market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
The Largest Exporters on The Market and How They Succeed
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
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