Market Trends of Dried Figs Industry
Rising Per Capita Consumption from High-income Economies
- A relatively higher per capita consumption has been observed in the high-income economies. For instance, as per the facts revealed by the International Nut & Dry Fruit Council, dried figs account for 6% of the overall dried fruit consumption in high-income economies. In contrast, they account for merely 3% of the overall dried fruit consumption across middle-income economies.
- According to FAO's statistical yearbook of 2020-2021, the per capita consumption was highest in Iran, which was 0.43 kg per year per person, followed by Switzerland and UAE, with 0.37 kg and 0.28 kg per year per person, respectively. This unveils the potential opportunity for high-income economies over middle-income economies.
- However, the production of figs in high-income countries like Germany, France, Canada, and Switzerland is negligible. The demand for dried figs in these countries is being fulfilled by import. According to International Trade Center (ITC) Trade, Germany was the second topmost country that imported 23,286 metric tons of dried figs in 2021. Consumption, import & export of dried figs increased globally. Hence, these factors are expected to drive the market.
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Iran is Expected to Dominate the Dried Figs Market
- Iran is a major consumer and one of the world's largest producers and exporters of figs. According to FAO, global annual fig production ranges at 1.2 million mt and Iran is the fifth most significant producing country. Iran is also the most important supplier of fresh figs and the third most important exporter of dried figs after Turkey and Afghanistan. Fig production reached 84,000 mt in Iran in 2021/2022, of which 13,600 mt were exported as dried figs.
- According to the statistics released by the Tropical and Subtropical Fruits Department of Agriculture Ministry, Iran produced nearly 25,000 tons of figs in 2020. Thus, the country's status as the second largest producer is paralleled by the lower consumption in other countries. Turkey will likely be treated as a potential opportunity to serve the international markets. This could enhance the per capita consumption of dried figs over the coming years.
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