Asia: Cherry Market 2024

Cherry Market Size in Asia

For the seventh consecutive year, the Asian cherry market recorded growth in sales value, which increased by X% to $X in 2022. Over the period under review, consumption saw a remarkable increase. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in the near future.

Cherry Production in Asia

In value terms, cherry production rose modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Turkey (X tons) constituted the country with the largest volume of cherry production, accounting for X% of total volume. Moreover, cherry production in Turkey exceeded the figures recorded by the second-largest producer, Uzbekistan (X tons), fourfold. Iran (X tons) ranked third in terms of total production with a X% share.

In Turkey, cherry production expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Uzbekistan (X% per year) and Iran (X% per year).

In 2022, the average cherry yield in Asia rose to X tons per ha, increasing by X% on the year before. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The level of yield peaked at X tons per ha in 2020; however, from 2021 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of cherries production in Asia contracted to X ha, approximately equating 2021 figures. In general, the harvested area, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of X%. As a result, the harvested area reached the peak level of X ha. From 2020 to 2022, the growth of the cherry harvested area remained at a lower figure.

Cherry Exports

Exports in Asia

After two years of growth, overseas shipments of cherries decreased by X% to X tons in 2022. In general, exports, however, continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2018 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2021, and then declined in the following year.

In value terms, cherry exports rose markedly to $X in 2022. Over the period under review, exports, however, continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, Hong Kong SAR (X tons) represented the main exporter of cherries, constituting X% of total exports. Turkey (X tons) ranks second in terms of the total exports with a X% share, followed by Azerbaijan (X%) and Uzbekistan (X%).

Hong Kong SAR was also the fastest-growing in terms of the cherries exports, with a CAGR of X% from 2012 to 2022. At the same time, Azerbaijan (X%) displayed positive paces of growth. Turkey experienced a relatively flat trend pattern. By contrast, Uzbekistan (X%) illustrated a downward trend over the same period. While the share of Hong Kong SAR (X p.p.) and Uzbekistan (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Turkey (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) remains the largest cherry supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with an X% share of total exports. It was followed by Azerbaijan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Hong Kong SAR totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (X% per year) and Azerbaijan (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, rising by X% against the previous year. Export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cherry export price increased by X% against 2015 indices. The pace of growth appeared the most rapid in 2016 when the export price increased by X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while Azerbaijan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced a decline in the export price figures.

Cherry Imports

Imports in Asia

In 2022, approx. X tons of cherries were imported in Asia; which is down by X% against the previous year. Overall, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021, and then fell in the following year.

In value terms, cherry imports rose notably to $X in 2022. Over the period under review, imports, however, saw a prominent increase. The growth pace was the most rapid in 2018 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

China represented the key importing country with an import of around X tons, which reached X% of total imports. It was distantly followed by Hong Kong SAR (X tons), achieving a X% share of total imports. The following importers - Taiwan (Chinese) (X tons) and South Korea (X tons) - each recorded a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by China (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported cherries in Asia, comprising X% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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