World - Figs - Market Analysis, Forecast, Size, Trends and Insights
Global Fig Market 2019 - Key Insights
IndexBox has just published a new report, the World - Figs - Market Analysis, Forecast, Size, Trends and Insights. Here is a summary of the report's key findings.
The global fig market revenue amounted to $4.5B in 2017, going up by 33% 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 +5.8% from 2007 to 2017; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017, when it surged by 33% against the previous year. In that year, the global fig market reached its peak level, and is likely to continue its growth in the immediate term.
Global fig production totaled 1.2M tonnes in 2017, surging by 8.3% against the previous year. The total output volume increased at an average annual rate of +1.3% from 2007 to 2017; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period.
In 2017, the amount of figs exported worldwide stood at 139K tonnes, increasing by 12% against the previous year. Overall, the total exports indicated a strong expansion from 2007 to 2017: its volume increased at an average annual rate of +5.0% over the last decade. Based on 2017 figures, the fig exports increased by +14.2% against 2015 indices.
In value terms, fig exports stood at $572M (IndexBox estimates) in 2017.
Exports by Country
Turkey prevails in fig exports structure, recording 79K tonnes, which was approx. 57% of total exports in 2017. It was distantly followed by Afghanistan (13K tonnes) and Spain (7.5K tonnes), together achieving 15% share of total exports. The U.S. (4.5K tonnes), Greece (4.5K tonnes), the Netherlands (3.8K tonnes), Italy (3.4K tonnes), Austria (3.2K tonnes) and Germany (3.2K tonnes) followed a long way behind the leaders.
Exports from Turkey increased at an average annual rate of +5.2% from 2007 to 2017. At the same time, Afghanistan (+14.9%), Austria (+13.5%), Greece (+10.2%), Italy (+8.5%), Spain (+4.7%), Germany (+4.5%), the U.S. (+4.0%) and the Netherlands (+2.8%) displayed positive paces of growth. Moreover, Afghanistan emerged as the fastest growing exporter in the world, with a CAGR of +14.9% from 2007-2017. While the share of Austria (-1.7%), Spain (-2%), Greece (-2%), Afghanistan (-7.2%) and Turkey (-22.8%) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Turkey ($299M) remains the largest fig supplier worldwide, comprising 52% of global exports. The second position in the ranking was occupied by Afghanistan ($101M), with a 18% share of global exports. It was followed by the Netherlands, with a 3.4% share.
Export Prices by Country
The average fig export price stood at $4.1 per kg in 2017, rising by 13% against the previous year. Over the period from 2007 to 2017, it increased at an average annual rate of +1.7%.
Export prices varied noticeably by the country of destination; the country with the highest export price was Afghanistan ($7.6 per kg), while Spain ($2.2 per kg) was amongst the lowest.
From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by Spain (+2.3% per year), while the other global leaders experienced more modest paces of growth.
In 2017, approx. 127K tonnes of figs were imported worldwide; shrinking by -5.7% against the previous year. The total import volume increased at an average annual rate of +3.1% over the period from 2007 to 2017. Over the period under review, global fig imports reached their maximum at 135K tonnes in 2016, and then declined slightly in the following year.
In value terms, fig imports totaled $499M (IndexBox estimates) in 2017. The total import value increased at an average annual rate of +4.5% from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, global fig imports attained their peak figure in 2017, and are expected to retain its growth in the near future.
Imports by Country
Germany (17K tonnes) and France (17K tonnes) were the main importers of figs in 2017, accounting for approx. 13% and 13% of total imports, respectively. The U.S. (8.9K tonnes) took a 7% share (based on tonnes) of total imports, which put it in second place, followed by the UK (6.4%). The following importers - Austria (5.1K tonnes), Italy (4.8K tonnes), the Netherlands (4.5K tonnes), Canada (4.4K tonnes), Russia (4.3K tonnes), Switzerland (3.7K tonnes), Belgium (3K tonnes) and Belarus (2.7K tonnes) together made up 25% of total imports.
From 2007 to 2017, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Belarus (+38.4% per year), while the other global leaders experienced more modest paces of growth.
In value terms, the largest fig markets worldwide were Germany ($65M), France ($58M) and the U.S. ($42M), together comprising 33% of global imports. The UK, Italy, Canada, Austria, the Netherlands, Switzerland, Belgium, Russia and Belarus lagged somewhat behind, together comprising a further 31%.
Import Prices by Country
The average fig import price stood at $3.9 per kg in 2017, going up by 14% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2008, when the average import price increased by 25% against the previous year. In that year, the average import prices for figs reached their peak level of $4.3 per kg. From 2009 to 2017, the growth in terms of the average import prices for figs failed to regain its momentum.
There were significant differences in the average import prices amongst the major importing countries. In 2017, the country with the highest import price was Switzerland ($5.2 per kg), while Belarus ($1.5 per kg) was amongst the lowest.
From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by the U.S. (+9.8% per year), while the other global leaders experienced more modest paces of growth.
Source: IndexBox AI Platform
This report provides an in-depth analysis of the global fig 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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