Published: May, 2018
The global fresh cherries market is extremely competitive and this is fuelled by the continued entry of new players, states Transparency Market Research (TMR). Leading players operating in the fresh cherries market include: Rainier Fruit, Alacam Tarim, Vitin Fruits, Leelanau Fruit, Dell's Marachino Cherries, The Global Green Company, Smelterz Orchard, Bel'Export, and Hood River Cherry. Players within the market are improving the sales of fresh cherry
As per Transparency Market Research (TMR), the global fresh cherries market will rise from US$3.9 bn by 2017 to US$5.2 bn by 2022, expanding at a 5.50% CAGR from 2017 to 2022. The sweet cherries market is generating higher revenues as compared to sour cherries type, in terms of taste and held a 60% of the total market in 2017. This increased demand for sweet cherries over sour cherries will continue to remain so for the rest of the forecast period. On the basis of sales channel, the market is expected to be led by the traditional grocery stores and convenience stores. The online channels and direct sales are gaining momentum.
Asia Pacific Excluding Japan to Emerge as Leading Regional Market for Fresh Cherries
By application, the tarts, bakery, jams, and jellies are witnessing higher consumption than salads, direct consumption, ice creams, dairy beverages, and alcoholic beverages. On the basis of geography, the market is expected to be led by Asia Pacific excluding Japan. APEJ is predicted to expand at a healthy 5.90% CAGR between 2017 and 2022. The growing disposable income of the people in this region is fuelling the growth of the market.
Demand for Fresh Cherries Rising As Consumers Realize Importance of Fresh Fruits in Diet
As per the lead author of the report, “the growing awareness regarding harmful effects of preservatives and chemicals used in food preservation has boded well for the market for fresh cherries.” This has led to the growing demand for fresh fruits and vegetables and this will help the market for fresh cherries to grow. The growing health consciousness among consumers worldwide is in a way boosting the growth of the market. The demand for fresh cherries is especially high in countries such as India and China. The increasing export demand for fresh cherries is also expected to drive the growth of this market.
Growing Adoption of Western Culture to Boost Demand for Fresh Cherries
The growing use of fresh cherries for ice creams, desserts, cakes, pastries, jams, jellies, and other items in the food and beverage sector will bolster the growth of the fresh cherries market. Fresh cherries are also used in milks shakes and other beverages, thus driving the growth of this market. The popularity of fresh cherry fruit is increasing especially in emerging economies of Asia Pacific as they are adopting western culture extensively. The growing disposable incomes of the people are powering them to spend more on delicacies and this will also help the market for fresh cherries to grow.
The review is based on a report by Transparency Market Research (TMR), titled “Fresh Cherries Market (Taste - Sweet and Sour; Sales Channel - Modern Trade, Traditional Grocery stores, Convenience Stores, Online Channels, Direct Sales, and Other Retail Formats; Application - Direct Consumption, Bakery, Tarts, Jams, Jellies, Ice Creams, Salads, Dairy Beverages, and Alcoholic Beverages) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 - 2022.”
Global Fresh Cherries Market: By Taste
Global Fresh cherries Market: By Sales Channel
- Modern Trade
- Traditional Grocery Stores
- Convenience Stores
- Online Channels
- Direct Sales
- Other Retail Formats
Global Fresh cherries Market: By Application
- Direct Consumption
- Ice Creams Salads
- Dairy Beverages
- Alcoholic Beverages
Global Fresh cherries Market: Geography
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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