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The fresh cherries market size is forecast to increase by USD 33.58 billion, at a CAGR of 10.43% between 2023 and 2028.
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The fresh cherries industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The conventional segment is estimated to witness significant growth during the forecast period.
Fresh cherries are a popular fruit with a significant market presence, driven by various factors shaping the industry's growth and trends. Currently, the conventional segment accounts for approximately 75% of the market share, with synthetic fertilizer application methods increasing crop yield by 15%. Pruning techniques and postharvest handling practices are essential in optimizing crop load management and extending shelf life, contributing to a 20% reduction in waste. Processing technology advancements, such as improved preservation technologies and cold chain logistics, ensure the highest quality standards and enable year-round availability. Fertilizer application methods are continually evolving, with the adoption of sustainable agriculture practices like soil nutrient management and water management techniques increasing by 12%.
Organic cherry production, representing around 25% of the market, is gaining traction due to consumer preferences for healthier and more sustainable food options. Value-added products, such as dried cherries and cherry juice, offer additional revenue streams and contribute to a projected 18% growth in the industry. Quality control procedures, including sensory evaluation methods and disease resistance traits, ensure consistent product quality and minimize microbial contamination risks. Yield optimization strategies, ripening physiology, and climate change adaptation are essential in addressing the challenges of fluctuating market demands and environmental conditions. Frost protection methods and supply chain traceability are crucial in maintaining the integrity of the market.
The Conventional segment was valued at USD 28.70 billion in 2018 and showed a gradual increase during the forecast period.
Economic viability assessments, focusing on factors like market trends, consumer preferences, and production costs, help stakeholders make informed decisions and adapt to the evolving market landscape. Cherry quality parameters, such as taste, color, and size, are continually monitored to ensure customer satisfaction. Integrated pest management strategies, pesticide residue analysis, and harvest mechanization techniques are essential in maintaining a balanced approach to crop production. Enzyme activity assays and fruit maturity indices are used to optimize the ripening process and ensure the freshest possible product. Food safety regulations, including those related to cold chain logistics and microbial contamination control, are stringently enforced to maintain consumer trust and confidence.
In conclusion, the market is a dynamic and evolving industry, shaped by various factors, including consumer preferences, technological advancements, and environmental challenges. By adopting innovative practices, such as sustainable agriculture, value-added products, and advanced processing technologies, stakeholders can effectively address these challenges and capitalize on new opportunities.
APAC is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The APAC region holds a substantial position in the market, encompassing a vast array of countries that contribute significantly as producers, importers, and consumers. The region's demand for cherries has been on an upward trajectory due to factors such as increasing health awareness, shifting dietary preferences, and the growing fascination with exotic fruits. China stands out as a major player in the APAC cherry market, accounting for approximately 90% of the global market share. The Chinese cherry industry primarily focuses on the Bing variety, renowned for its large size and sweet taste. The market in the APAC region has experienced consistent growth, with sales increasing by approximately 5% year-over-year.
Furthermore, industry experts anticipate a continued expansion of the market, with growth expectations reaching around 6% annually over the next five years. This growth is attributed to the increasing popularity of cherries in various sectors, including food and beverage, pharmaceuticals, and cosmetics. Compared to the current sales figures, the future growth prospects of the APAC market demonstrate a substantial improvement. In 2020, sales amounted to roughly 1.2 million metric tons, while industry analysts project that sales will reach approximately 1.4 million metric tons by 2026. This represents a notable increase of around 16.7% in sales volume within the forecasted timeframe.
In summary, the APAC region, led by China, plays a pivotal role in the market. The region's sales have been steadily growing, with the Chinese cherry industry dominating the market and focusing on the Bing variety. The market is expected to continue expanding, with sales reaching 1.4 million metric tons by 2026, representing a 16.7% increase from 2020 sales.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The US cherry market is witnessing significant advancements in various aspects, from optimizing fruit maturity for enhanced shelf life to evaluating the impact of different packaging materials on cherry quality. By implementing these strategies, businesses can improve efficiency, ensure compliance, and cater to evolving consumer preferences. One crucial aspect is optimizing cherry maturity. By employing advanced techniques, growers can determine the optimal harvest time, ensuring the highest possible quality and consumer satisfaction. This results in reduced wastage and increased revenue. Moreover, the choice of packaging materials plays a vital role in maintaining cherry quality. Comparative analyses of various materials reveal that some extend shelf life by up to 15%, while others ensure better protection against bruising and damage. Postharvest handling techniques also undergo continuous evaluation to preserve cherry quality. Innovative methods, such as controlled atmosphere storage and modified atmosphere packaging, can extend the shelf life by nearly one-third. Sustainable practices are increasingly important in cherry production. By implementing efficient irrigation strategies, growers can reduce water usage by up to 20%, while also improving tree growth and yield. Innovation is a key driver in the cherry market. Advanced sensors enable real-time quality monitoring, while effective disease detection techniques help minimize losses and ensure compliance with regulatory standards. Marketing channels are also evolving, with value-added products from cherry waste and cold chain logistics playing a significant role in maintaining cherry freshness and enhancing consumer appeal. By focusing on these areas, businesses in the US cherry market can gain a competitive edge, ensuring high-quality products, increased efficiency, and improved consumer satisfaction.
The fresh cherries market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the fresh cherries market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape of Fresh Cherries Industry
Companies are implementing various strategies, such as strategic alliances, fresh cherries market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
BC Tree Fruits - The company specializes in providing a diverse range of high-quality cherries, including the prized dark sweet variety.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Fresh Cherries Market insights. See full methodology.
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Market Scope |
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Report Coverage |
Details |
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Page number |
149 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.43% |
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Market growth 2024-2028 |
USD 33.58 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
8.64 |
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Key countries |
China, US, Germany, India, and Canada |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
We can help! Our analysts can customize this fresh cherries market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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