The Asian Market Is the Main Driver Behind the Growing Cherry Consumption

IndexBox has just published a new report "World: Cherries - Market Report. Analysis and Forecast to 2025".
Here is a summary of the report’s key findings.

Global Cherry Market Undergo a Moderate Increase 

The global cherry market increased gradually from X thousand tonnes in 2007 to X thousand tonnes in 2016, with only mild fluctuations over the period under review. Overall, it expanded at an average annual rate of +X from 2007 to 2016. In value terms, global cherry market reached X million USD, fluctuating somewhat notably over the last five years due to variation in prices.

Turkey Lead the Globe in Terms of Cherry Consumption; in China, However, It Expanded Rapidly

Turkey (X thousand tonnes), followed by the U.S. (X thousand tonnes), Russia (X thousand tonnes), Iran (X thousand tonnes), Ukraine (X thousand tonnes) and Poland (X thousand tonnes) were the countries with the highest cherry consumption, together comprising X% of the total figure. 

The highest annual growth rates of cherries consumption from 2007 to 2016 were recorded in Turkey, with +X% per year, and Poland, with +X% per year, respectively. The other major consuming countries indicated only a modest growth pace of consumption, moreover, in Russia it declined by -X% annually over the period under review.

Among the leading consuming countries high levels of per capita consumption levels were recorded in Turkey (X kg/year in 2016), Ukraine (X kg/year), and Poland (X kg/year), which was significantly higher than the world average of X kg/year. In these countries per capita consumption generally reflected the total consumption trend pattern. The annual growth of per capita consumption from 2007 to 2015 was the most notable in Poland, with +X% growth and Turkey with +X% growth.

On the contrary, in China (X kg/year in 2016), the level of per capita consumption remains far behind from those of leading consuming countries and even world average levels. However, cherry per capita consumption in China grew rapidly over the last nine years, expanding at an average annual rate of +X%. This increasing consumption in China could become a new growth driver for global cherry market in the medium term.

The Asian Market Is the Main Driver Behind the Growing Cherry Consumption

Cherry consumption will continue to grow at a moderate pace following rising income and population growth as well as marketing programs aimed at promoting healthy, balanced nutrition. The main driver behind the growing cherry consumption will be the dynamically developing Asian market, where ongoing urbanization and gradual westernization contribute to the growth of imports of European products. 

The performance of the market is forecast to grow with an anticipated CAGR of +X% for the nine-year period from 2015 to 2025, which is expected to lead the market volume to X million tonnes by the end of 2025.

Turkey Continues to Dominate Global Cherry Production, Which Is Buoyed by Strong Expansion of the Harvested Area

Production of cherry reached X thousand tonnes in 2016, increasing gradually by +X% over the last nine years. That increase of production was largely buoyed by a measured expansion of the harvested area, against the relatively stable yield figures.

Turkey was the key world cherry producing country with an output of about X thousand tonnes in 2016, which accounted for X% of total global output. The other major producers were the U.S. (X%), Iran (X%), Russia (X%), Ukraine (X%) and Poland (X%). 

In Turkey, production levels increased by +X% annually from 2007 to 2016, largely attributed to expansion of the harvested area and favourable climate conditions. From 2007-2016, cherry output also increased in the U.S. (+X% per year), Iran  (+X%), Ukraine (+X% per year), and Poland (+X% per year). Russia (-X% per year) was major producing country with an annual decline of cherry output.

Near X% of Global Cherry Output Is Intended for Exports

Cherries is a widely traded commodity, with the share of export in total global output being about X% throughout 2007-2016. This high trade intensity is determined mainly by the substantial distances between some of the consuming countries and the main centers of cherry production. 

Cherry will continue to be highly traded, fueled by increasing consumption, especially in China and other Asian countries. However, the annual growth could be restrained by softening growth of cherries manufacturing and increasing domestic demand in some of the major exporting countries.

Chile Remains the Main Global Supplier of Cherry

In 2016, global exports of cherries reached X million USD, expanding at an average annual rate of growth of +X% from 2007 to 2016. The volume of global cherries exports amounted to X thousand tonnes in 2016, with an annual increase of +X% over the period under review.

In terms of global cherry exports, among all other countries three largest suppliers stand out: Chile (X%), Turkey (X%) and the U.S. (X%). From 2007 to 2016, average annual rates of growth of cherries exports from these countries stood at +X%, +X% and +X%, respectively.

The share of Chile increased significantly from X% in 2007 to X% in 2016. At the same time, the shares of Turkey (-X percentage points) and the U.S. (-X percentage points) declined over the period under review. Therefore, this makes Chile the largest and most reliable producer of cherries in the world.

China Was the Main Importer of Cherry

In value terms, global cherries imports stood at X million USD, with a CAGR of +X%. In 2016, the volume of global cherries imports was X thousand tonnes; there was an annual increase of +X%. In 2016, China (X%), Germany (X%) and Russia (X%) were the main importing countries of cherries in the world, together accounting for a X% of total imports. 

Amongst the major importing countries, China indicated the highest rates of growth in terms of imports, with an average annual increase of +X%. Germany illustrated a more moderate growth (+X%) over period under review.

In addition, China significantly strengthened its share from X% in 2007 to X% in 2016, while the share of Russia (-X percentage points) contracted from 2007 to 2016. The shares of Germany remained relatively stable over period under review.

Do you want to know more about global cherry market? Get the latest trends and insight from our report. It includes a wide range of statistics on

• cherry market share
• cherry prices
• cherry industry
• cherry sales
• cherry import
• cherry export
• cherry market forecast
• cherry price forecast
• key cherry producers

Source: IndexBox Platform