Asia-Pacific: Cherry Market 2024

Cherry Market Size in Asia-Pacific

The Asia-Pacific cherry market expanded notably to $X in 2022, surging by X% against the previous year. In general, consumption, however, recorded a prominent increase. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Cherry Production in Asia-Pacific

In value terms, cherry production rose significantly to $X in 2022 estimated in export price. Over the period under review, production saw a prominent increase. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were China (X tons), Hong Kong SAR (X tons) and Japan (X tons), with a combined X% share of total production. Australia, India, New Zealand and Pakistan lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by New Zealand (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average yield of cherries in Asia-Pacific expanded significantly to X tons per ha, increasing by X% on 2021. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, the yield reached the peak level of X tons per ha. From 2021 to 2022, the growth of the cherry yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The cherry harvested area shrank to X ha in 2022, stabilizing at the previous year. Overall, the harvested area, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X%. The level of harvested area peaked at X ha in 2018; however, from 2019 to 2022, the harvested area failed to regain momentum.

Cherry Exports

Exports in Asia-Pacific

In 2022, exports of cherries in Asia-Pacific contracted modestly to X tons, flattening at the previous year. Overall, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The volume of export peaked at X tons in 2021, and then contracted modestly in the following year.

In value terms, cherry exports skyrocketed to $X in 2022. In general, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Hong Kong SAR (X tons) represented roughly X% of total exports in 2022.

Hong Kong SAR was also the fastest-growing in terms of the cherries exports, with a CAGR of X% from 2012 to 2022. From 2012 to 2022, the share of Hong Kong SAR increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) also remains the largest cherry supplier in Asia-Pacific.

In Hong Kong SAR, cherry exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Hong Kong SAR.

From 2012 to 2022, the rate of growth in terms of prices for Hong Kong SAR amounted to X% per year.

Cherry Imports

Imports in Asia-Pacific

In 2022, imports of cherries in Asia-Pacific fell modestly to X tons, which is down by X% compared with the previous year's figure. Overall, imports, however, posted prominent growth. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then dropped in the following year.

In value terms, cherry imports expanded markedly to $X in 2022. Over the period under review, imports, however, saw a prominent expansion. The pace of growth appeared the most rapid in 2018 with an increase of X%. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Imports by Country

China was the key importer of cherries in Asia-Pacific, with the volume of imports reaching X tons, which was near X% of total imports in 2022. It was distantly followed by Hong Kong SAR (X tons), comprising a X% share of total imports. The following importers - Taiwan (Chinese) (X tons) and South Korea (X tons) - each accounted for a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key 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 ($X) constitutes the largest market for imported cherries in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

In China, cherry imports 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: Hong Kong SAR (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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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