U.S.: Cherry Market Overview 2021

Cherry Market Size in the U.S.

After three years of decline, the U.S. cherry market increased by X% to $X in 2020. The market value increased at an average annual rate of +X% over the period from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2009 when the market value increased by X% y-o-y. Cherry consumption peaked in 2020 and is expected to retain growth in years to come.

Cherry Production in the U.S.

In value terms, cherry production soared to $X in 2020. Over the period under review, the total production indicated noticeable growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2009 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level in 2020 and is expected to retain growth in years to come.

The average yield of cherries in the U.S. was estimated at X tonnes per ha in 2020, stabilizing at 2019 figures. in general, the yield recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2009 with an increase of X% year-to-year. As a result, the yield reached the peak level of X tonnes per ha. from 2010 to 2020, the growth of the average cherry yield remained 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 2020, the total area harvested in terms of cherries production in the U.S. was estimated at X ha, approximately equating 2019 figures. Over the period under review, the harvested area recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of X% year-to-year. As a result, the harvested area reached the peak level of X ha. from 2014 to 2020, the growth of the cherry harvested area remained at a lower figure.

Cherry Exports

Exports from the U.S.

For the third year in a row, the U.S. recorded decline in shipments abroad of cherries, which decreased by -X% to X tonnes in 2020. in general, total exports indicated slight growth from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports decreased by -X% against 2017 indices. The most prominent rate of growth was recorded in 2017 when exports increased by X% y-o-y. As a result, exports reached the peak of X tonnes. from 2018 to 2020, the growth exports failed to regain the momentum.

In value terms, cherry exports reached $X in 2020. Over the period under review, total exports indicated a temperate expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports decreased by -X% against 2017 indices. The growth pace was the most rapid in 2017 with an increase of X% y-o-y. As a result, exports attained the peak of $X. from 2018 to 2020, the growth exports failed to regain the momentum.

Exports by Country

Canada (X tonnes), South Korea (X tonnes) and China (X tonnes) were the main destinations of cherry exports from the U.S., with a combined X% share of total exports. These countries were followed by Taiwan (Chinese), Viet Nam, Japan and Hong Kong SAR, which together accounted for a further X 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Viet Nam (+X% per year), while exports for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cherry exported from the U.S. were Canada ($X), South Korea ($X) and China ($X), together accounting for X% of total exports. These countries were followed by Taiwan (Chinese), Japan, Viet Nam and Hong Kong SAR, which together accounted for a further X terms of the main countries of destination, Viet Nam (+X% per year) saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cherry export price stood at $X per tonne in 2020, picking up by X% against the previous year. Over the last thirteen-year period, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2010 an increase of X% against the previous year. Over the period under review, average export prices reached the maximum in 2020 and is expected to retain growth in years to come.

Prices varied noticeably by the country of destination; the country with the highest price was South Korea ($X per tonne), while the average price for exports to Viet Nam ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to China, while the prices for the other major destinations experienced more modest paces of growth.

Cherry Imports

Imports into the U.S.

In 2020, imports of cherries into the U.S. dropped slightly to X tonnes, reducing by -X% against the previous year. Overall, imports saw a noticeable contraction. The pace of growth appeared the most rapid in 2008 with an increase of X% year-to-year. As a result, imports attained the peak of X tonnes. from 2009 to 2020, the growth imports remained at a somewhat lower figure.

In value terms, cherry imports soared to $X in 2020. in general, total imports indicated a slight expansion from 2007 to 2020: its value decreased at an average annual rate of -X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2017 indices. The growth pace was the most rapid in 2010 when imports increased by X% y-o-y. Imports peaked at $X in 2008; however, from 2009 to 2020, imports failed to regain the momentum.

Imports by Country

Chile (X tonnes), Canada (X tonnes) and Argentina (X tonnes) were the main suppliers of cherry imports to the U.S., with a combined X% share of total imports.

From 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Argentina, while imports for the other leaders experienced mixed trend patterns.

In value terms, Chile ($X), Canada ($X) and Argentina ($X) were the largest cherry suppliers to the U.S., together comprising X% of total imports.

Among the main suppliers, Argentina recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average cherry import price stood at $X per tonne in 2020, growing by X% against the previous year. Over the period under review, import price indicated a pronounced expansion from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, cherry import price increased by +X% against 2015 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. in 2020, the country with the highest price was Canada ($X per tonne), while the price for Argentina ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Canada, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform