South-Eastern Asia: Market for Cherries and Sour Cherries 2024

Market Size for Cherries and Sour Cherries in South-Eastern Asia

In 2022, the Southeast Asian cherry and sour cherry market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, posted a prominent increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Cherries and Sour Cherries in South-Eastern Asia

In value terms, cherry and sour cherry production fell slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Lao People's Democratic Republic (X tons) constituted the country with the largest volume of cherry and sour cherry production, accounting for X% of total volume.

From 2012 to 2022, the average annual growth rate of volume in Lao People's Democratic Republic totaled X%.

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Exports of Cherries and Sour Cherries

Exports in South-Eastern Asia

Cherry and sour cherry exports contracted notably to X tons in 2022, waning by X% against the previous year's figure. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, cherry and sour cherry exports contracted rapidly to $X in 2022. Total exports indicated noticeable growth from 2012 to 2022: its value 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. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2021, and then dropped notably in the following year.

Exports by Country

In 2022, Singapore (X tons) was the key exporter of cherries and sour cherries, creating X% of total exports. Thailand (X tons) took the second position in the ranking, distantly followed by Vietnam (X tons). All these countries together held near X% share of total exports. The following exporters - Malaysia (X tons) and the Philippines (X tons) - each amounted to a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to cherry and sour cherry exports from Singapore stood at X%. At the same time, the Philippines (X%), Malaysia (X%) and Thailand (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2022. Vietnam experienced a relatively flat trend pattern. Thailand (X p.p.), the Philippines (X p.p.) and Malaysia (X p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest cherry and sour cherry supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Singapore amounted to X%. In the other countries, the average annual rates were as follows: Thailand (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the export price saw tangible growth. The pace of growth was the most pronounced in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

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

Imports of Cherries and Sour Cherries

Imports in South-Eastern Asia

In 2022, overseas purchases of cherries and sour cherries decreased by X% to X tons, falling for the third consecutive year after six years of growth. Overall, imports, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, cherry and sour cherry imports expanded significantly to $X in 2022. In general, imports, however, posted prominent growth. The most prominent rate of growth was recorded in 2014 when imports increased by X%. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Vietnam (X tons) represented the largest importer of cherries and sour cherries, mixing up X% of total imports. It was distantly followed by Thailand (X tons), Singapore (X tons) and Malaysia (X tons), together committing a X% share of total imports. The following importers - Cambodia (X tons) and Indonesia (X tons) - together made up X% of total imports.

Imports into Vietnam increased at an average annual rate of X% from 2012 to 2022. At the same time, Indonesia (X%), Malaysia (X%), Cambodia (X%) and Singapore (X%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Thailand (X%) illustrated a downward trend over the same period. Vietnam (X p.p.) and Indonesia (X p.p.) significantly strengthened its position in terms of the total imports, while Singapore and Thailand saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X), Thailand ($X) and Singapore ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising X% of total imports. Malaysia, Indonesia and Cambodia lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Indonesia, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, 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 an increase of X%. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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