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The peaches and nectarines market share is expected to increase by USD 798.66 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.6%.
This peaches and nectarines market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers peaches and nectarines market segmentations by distribution channel (offline and online) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The peaches and nectarines market report also offers information on several market vendors, including BeFresh Ltd., DLJ Produce Inc., Echo International Export Co. Inc., EREN Fruits and Vegetables Exporter Supplier Packaging Co., Gadco Egypt, Gesex SA, Gold Scorpion S.L, MandAR FOOD PRODUCTS, Minsa Creation Pvt. Ltd., PR Farms Inc., Prima Wawona, Ramiya Trading Plc, Sadira, Sun World International LLC, Sunwest Fruit Co., Trinity Fruit Co., and Wawona Frozen Foods Inc. among others.
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The rising production and consumption of peaches and nectarines in the European market is notably driving the peaches and nectarines market growth, although factors such as fluctuation in prices may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the peaches and nectarines industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Peaches and Nectarines Market Driver
The rising production and consumption of peaches and nectarines in the European market is one of the key drivers supporting the peaches and nectarines market growth. For instance, in 2021, the annual growth rate of peach and nectarine per capita consumption in Greece increased by 15.2%. The remaining major peach and nectarine-consuming countries in Europe recorded the average annual rates of per capita consumption growth such as Italy (-6.6% per year) and Spain (-4.3% per year). The countries with the highest volumes of peach and nectarine production in 2021 were Spain, Italy, and Greece, which together accounted for 92% of total production. Thus, these trends in regional consumption, imports, and exports will further drive market growth during the forecast period.
Key Peaches and Nectarines Market Trend
Rising imports and export of peaches and nectarines is one of the key peaches and nectarines market trends that is contributing to the market growth. For instance, Australia's export of peaches and nectarines, led by the State of Victoria, grew by 50% between 2017 and 2018 and reached $50 million. The middle eastern region accounts for just under 1% share of national exports. Peaches from Turkey and Iran are exported at a slightly higher price than the national average, while nectarines are sold at a price that is almost two-thirds that of the national average. Moreover, China is the major destination for Australian peach and nectarine exports, while Singapore is the major importer of middle eastern products. Thus, the rising import and export of peaches and nectarines are further driving market growth.
Key Peaches and Nectarines Market Challenge
Fluctuation in prices is one of the factors hindering the peaches and nectarines market growth. The peaches and nectarines market has been witnessing fluctuations over time with changes in the production volume and in the varieties of peaches and nectarines that are cultivated and supplied. This situation has been witnessed every year in countries such as Chile and China, and it has been more pronounced during seasons in which production is high, and supply is concentrated. Such situations lead to further declines in the prices of peaches and nectarines due to overproduction and less supply in other countries. Such fluctuation in prices may lead to a decline in peaches and nectarines market growth during the forecast period.
This peaches and nectarines market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global peaches and nectarines market as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the peaches and nectarines market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the peaches and nectarines market encompasses successful business strategies deployed by the key vendors. The peaches and nectarines market is fragmented and the vendors are deploying growth strategies such as focusing on strengthening their online presence to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The peaches and nectarines market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the peaches and nectarines market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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76% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the peaches and nectarines market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The improved farming technologies will facilitate the peaches and nectarines market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in the region significantly impacted the regional peaches and nectarines market in 2020. However, the governments of APAC countries took several initiatives, such as mass COVID-19 vaccination drives from early 2021, which resulted in the decline in the number of COVID-19 cases. This further led to the relaxation in restrictions, including those on travel. As a result, the region observed a gradual increase in economic activities since the beginning of 2021. This will further boost the market growth in the region during the forecast period.
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The peaches and nectarines market share growth by the offline segment will be significant during the forecast period. The offline segment has captured the highest market share in the global peaches and nectarines market in 2021. This is attributed to the buying behavior of the consumer, who want to check the freshness of the stone fruits before buying. Furthermore, brick-and-mortar shops with deep freezers and chest freezers are able to cater to the demand for frozen fruits. Moreover, in the last decades, it has become easier for shippers to deliver products to purchasers thousands of miles away with no substantial loss in freshness owing to temperature-controlled logistics. Thus, such technological advancements in controlled atmosphere technologies have played a key role in extending the shelf life. These factors are driving the segment growth.
This report provides an accurate prediction of the contribution of all the segments to the growth of the peaches and nectarines market size and actionable market insights on post COVID-19 impact on each segment.
Peaches and Nectarines Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.6% |
Market growth 2022-2026 |
$ 798.66 million |
Market structure |
Fragmented |
YoY growth (%) |
3.2 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 76% |
Key consumer countries |
US, China, Japan, Italy, and Spain |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
BeFresh Ltd., DLJ Produce Inc., Echo International Export Co. Inc., EREN Fruits and Vegetables Exporter Supplier Packaging Co., Gadco Egypt, Gesex SA, Gold Scorpion S.L, MandAR FOOD PRODUCTS, Minsa Creation Pvt. Ltd., PR Farms Inc., Prima Wawona, Ramiya Trading Plc, Sadira, Sun World International LLC, Sunwest Fruit Co., Trinity Fruit Co., and Wawona Frozen Foods Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Distribution Channel
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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