The gross production value of apricots in the US is forecasted to decline annually from 2024 to 2028. In 2023, the production was substantially higher compared to forecasted values for 2024 and beyond. The trend indicates a continuous decrease, with an expected value of 31.46 million USD PPP in 2024 down to 26.06 million USD PPP in 2028.
The predicted year-over-year decrease is approximately:
- 2024 to 2025: -4.37%
- 2025 to 2026: -4.52%
- 2026 to 2027: -4.66%
- 2027 to 2028: -4.86%
The compound annual growth rate (CAGR) from 2024 to 2028 is estimated to be around -4.6% annually.
Future trends to watch for include factors affecting agricultural production such as climate change, technological advancements in farming, and policy changes impacting agriculture. Monitoring these may influence apricot production and stabilize or reverse declining trends.
