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
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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.
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.
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.
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.
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