Literature mostly abounds with the impacts of drought conditions on the concentration of non-structural compounds (NSC) and acids in peach fruits without distinction as to the direct effect of drought on fruit metabolism and its indirect effect through dilution. Moreover, there is a need to investigate the sensitivity of the fruit composition to progressive water deficit in semi-arid conditions, as well as the origin of variations in fruit composition - not only in carbohydrates and organic acids, but also in secondary metabolites such as polyphenols. The increase in stress intensity resulted in smaller fruits and a reduction in yield. Drought increased fruit dry matter content, structural dry matter (SDM) content and firmness due to lower water import to fruits although drought reduced fruit surface conductance and its transpiration. Drought significantly affected the concentrations of each NSC either through the decrease in dilution and/or modifications of their metabolism. The increase in hexoses and sorbitol concentrations of fruits grown under drought conditions resulted in an increase in the sweetness index but not near harvest. Malic acid concentration and content to SDM ratio increased as drought intensified, whereas those of citric and quinic acids decreased. Polyphenols concentration and content increased under severe drought. The increase in stress intensity strongly affected fruit mass. The concentration of total carbohydrates and organic acid at harvest increased mainly through a decrease in fruit dilution whereas the concentrations of polyphenols were also strongly affected through an impact on their metabolism