Global
Fresh Cherries Market: Snapshot
Of
late, the global fresh cherries market has been witnessing a steady
rise. With the increasing awareness regarding the harmful effect of
preservatives, consumers across the world are preferring fresh fruits
and vegetables, which is also reflecting on the demand for fresh
cherries greatly. The increasing consumption of fresh cherries in
emerging economies, fueled by the rise in the purchasing power of
consumers, is likely to add significantly to the growth of this
market in the near future.
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The
worldwide market for fresh cherries is expected to present an
opportunity worth US$3.99 bn by 2017. Further, the market is
projected to rise at a robust CAGR of 5.50% during the period from
2017 to 2022 and reach US$5.22 bn by the end of 2022. The rising
export demand for fresh cherries is anticipated to boost this market
substantially in the years to come.
Sweet
Fresh Cherries to Continue Being Most Preferred
Primarily,
the global market for fresh cherries is examined on the basis of the
taste, sales channel, and the application. Based on the taste, the
market is classified into sweet and sour. Sweet cherries are
witnessing a much higher demand than sour cherries. The segment is
expected to hold more than 60% of the overall market by 2017 and is
expected to remain dominant over the next few years.
By
the sales channel, the market is categorized into modern trade,
traditional grocery stores, convenience stores, online channels,
direct sales, and various other retail formats. Traditional grocery
stores and convenience stores are the prime sales channels for the
trading of fresh cherries and this scenario is expected to remain so
over the forthcoming years. Online channels and direct sales are also
gaining momentum in this market.
Direct
consumption, dairy beverages, ice creams, jellies, salads, and
alcoholic beverages have surfaced as the key application areas for
fresh
cherries across the world. Among these, the consumption of
cherries is more into tarts, bakery, jams, and jellies compared to
other application areas.
APEJ
to Dominate Global Fresh Cherries Market
The
worldwide market for fresh cherries is also classified on the basis
of its regional spread. North America, Europe, the Middle East and
Africa (MEA), Asia Pacific excluding Japan (APEJ), Japan, and Latin
America are considered as the key regional markets for fresh cherries
across the world. With the advent of China as a prominent consumer of
fresh cherries, Asia Pacific excluding Japan has emerged as the
leading regional market for fresh cherries and is anticipated to
continue its growth streak at a CAGR of 5.90% during the period from
2017 to 2022.
China
offers good opportunities for market’s growth due to the rising
consumption of cherries, triggered by the continued urbanization and
the increasing adoption of western culture. The augmenting disposable
incomes of consumers are also projected to contribute to the
increased demand for cherries in this country. This, as a result, is
anticipated to propel the market for fresh cherries in the APEJ
region in the years to come. The markets in Europe and North America
will also witness steady growth in the near future, thanks to Turkey
and the U.S. emerging as the leading producers of cherries across the
world.
Leelanau
Fruit Co., Rainier Fruit Co., Dell's Marachino Cherries, Vitin
Fruits, Alacam Tarim, The Global Green Co. Ltd., Smelterz Orchard
Co., Hood River Cherry Co., and BEL'EXPORT NV are some the key
vendors of fresh cherries across the world.
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