The fresh figs market(신선한 무화과 시장) is anticipated to expand its roots at an average CAGR of 5.0% between 2023 and 2033. The market is expected to cross a market share of US$ 2.38 billion by 2033 while it is likely to be valued at US$ 1.45 billion in 2023.
- High demand for organic fruits and vegetables along with the growing awareness around fig’s medicinal qualities are fuelling the market growth.
- The advent of fresh fig syrup and its usage in different beverages, and food items are expanding the fresh figs market size.
- The surging confectionery business is positively affecting the fresh figs market. It is due to the direct application of figs in pastries, bread, and cakes.
- The medicinal qualities of figs help people in dealing with diabetes, heart trouble, and other diseases while boosting the immune system to work effectively.
- Fruit-based businesses producing different forms of figs such as dried, and semi-dried figs are also gaining traction for market growth.
- The market growth is also attributed to the expanding online grocery platforms. These platforms sell organic, farm-to-home fruits and vegetables. Also, Covid-19 has made people habitual in ordering groceries and food items online, reflecting the higher sales of fresh figs in the market
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Key Points
- The United States held 17% of the market share in 2022. The growth is attributed to the higher penetration of e-commerce and online grocery options. Alongside this, the rising awareness among citizens around the health benefits of figs is making a way for the regional market to bloom.
- India, on the other hand, holds the utmost opportunity as it thrives at a very strong CAGR of 27.5% between 2023 and 2033. Indeed, the population has a play in rapid growth. Though, higher production and demand for fresh figs is also due to the use of fig as an alternative medicine.
- The United Kingdom thrives on a CAGR of 3.3% between 2023 and 2033. The growth is attributed to the expanding bakery industry in the region with the usage of fresh fruits in bread, cakes, and other confectionery items.
Competitive Landscape
The competitors are focusing on producing application-specific figs while also keeping fresh figs with faster transportation to retail stores. The fig businesses use syrups to keep the figs fresh and ready to eat. Key competitors and also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel. The key players in the market are Hadley Fruit Orchards, Inc., Roland Foods LLC, Meurens Natural S.A., FruitLips, Jiaherb, Inc., Athos Agricola S.A., Earl’s Organic Produce, Alara Agri, Isik Tarim A.S., Valley Fig Growers, Inc., Kirlioglu Figs, Yabanfood, National Raisin Company, and Torres Tropical Fresh B.V.
Recent Market Developments
- Earl’s Organic Produce has introduced different common fig varieties such as black mission, excel, brown turkey, Kadota, and Adriatic. Furthermore, the advanced storage options for concentrating the flavors and sugars.
- National Raisin Company, a producer of dried figs with private-label options. The dried whole black mission figs that are produced are enclosed in the folded, blue food-grade, and taped corrugated box.
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Market Segmentation
Analysis by Nature:
- Organic
- Conventional
Analysis by Variety:
- Smyrna Figs
- Black Figs
- Sari Lop Figs
- Mission Figs
- Kadota Figs
- Others
Analysis by Sales Channel:
- Modern Trade
- Specialty Stores
- e-Retailers
- Grocery Stores
- Wholesale Stores
- Industrial
- Foodservice/HoReCa
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