How Is The Global Cherries Market Defined?
Cherries are small, round, fleshy fruits with a hard stone-like pit, typically red or dark purple, and are often sweet or tart in flavor. These are commonly eaten fresh, used in desserts, jams, sauces, and beverages, and can also be dried or preserved.
Cherries Global Market Report 2024 provides data on the global cherries market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Cherries market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Are The Global Cherries Market Size And Growth Rates Projected To Evolve?
The cherries market size has grown strongly in recent years. It will grow from $58.15 billion in 2023 to $63.03 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to awareness of the health benefits of cherries, disposable incomes, and urbanization, government policies and regulations supporting the growth of the cherry industry, increased consumer demand for fresh and healthy food options, and changes in consumer preferences. The cherries market size is expected to see strong growth in the next few years. It will grow to $88.11 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to the growing demand for organic and natural food products, increased focus on sustainability and environmental responsibility in the cherry industry, rise of e-commerce platforms and online sales channels, growing interest in functional foods and nutraceuticals, and improvements in cherry cultivation techniques and crop management. Major trends in the forecast period include the growing popularity of dried cherries as a snack, expansion of cherry varieties available in supermarkets, rising interest in cherry-infused beverages and cocktails, adoption of sustainable farming practices in cherry cultivation, and development of innovative cherry-based skincare products.
What Are The Essential Drivers Behind The Growth Of The Cherries Market?
The growing popularity of plant-based diets is expected to drive the cherries market going forward. A plant-based diet involves consuming predominantly or exclusively foods derived from plants, including fruits, vegetables, grains, nuts, and seeds, while excluding or minimizing animal products such as meat, dairy, and eggs. The growing popularity of plant-based diets is due to increasing awareness of health benefits, environmental concerns, and ethical considerations regarding animal welfare. Cherries are used in plant-based diets as a flavorful ingredient in salads, smoothies, desserts, and sauces. For instance, in June 2021, according to the report published by Grubhub, a US-based online and mobile food ordering and delivery platform, vegan food delivery orders saw a 17% increase, with plant-based burger orders rising by 28% and vegetarian orders experiencing a 55% rise in 2021 compared to 2020. Therefore, the growing popularity of plant-based diets is driving the cherries market.
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How Is The Global Cherries Market Divided Into Key Segments?
The cherries market covered in this report is segmented –
1) By Type: Sweet, Sour
2) By Varieties: Bing, Rainier, Lambert, Lapkins
3) By Application: Direct Consumption, Cakes And Bakery, Candy And Snacks, Jams And Juice, Alcoholic Beverages, Other Applications
4) By Distribution Channel: Supermarkets Or Hypermarkets, Convenience Stores, Online
What Trends Are Reshaping The Future Of The Cherries Market?
Companies in the cherries market are focusing on innovative production lines to improve harvesting processes and supply chain management. Advanced production lines integrate cutting-edge technologies, automation, and efficient methods to optimize manufacturing operations. For example, in April 2024, FirstFruits Farms Inc., a US-based apple packer and shipper, launched a state-of-the-art cherry production line in Prescott, Washington. This new production line features complete automation and advanced technology to deliver high-quality fruit. UNITEC's solutions are configured to process both Rainier and Dark Sweet cherry varieties, including packaging options like clamshells, pouch bags, and top seals, significantly enhancing the company’s production capacities.
What Is The Fastest Growing Region In The Cherries Market?
Asia-Pacific was the largest region in the cherries market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cherries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
