What Is The Definition Of The Global Stone Fruit Market?
Stone fruit refers to a category of fruit that has a large, hard seed or 'stone' (also called a pit) at its center, surrounded by juicy flesh. These fruits are typically characterized by their sweet or tart taste, juicy texture, and thin skin. Stone fruits belong to the drupe family, and they are often eaten fresh, used in cooking, or made into preserves and desserts.
Stone Fruit Global Market Report 2024 provides data on the global stone fruit market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The stone fruit market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Market Size And Growth Rate Of The Global Stone Fruit Market Projected?
The stone fruit market has seen steady growth and is expected to grow from $13.85 billion in 2023 to $14.45 billion in 2024, representing a 4.4% compound annual growth rate (CAGR). Contributing factors include urban farming initiatives, sustainable agricultural practices, growth in organic farming, the rise of online grocery shopping, and an increase in peach exports and imports. By 2028, the market is expected to reach $17.37 billion, driven by the rising popularity of fruit-based snacks, increased disposable incomes, awareness of health benefits, and the growing use of stone fruits in smoothies and desserts. Trends include technological advancements, the popularity of stone fruit-based smoothies and ready-to-eat snacks, plant-based diets, and fruit-based desserts.
What Are The Primary Growth Drivers In The Stone Fruit Market?
The growing import and export of peaches and nectarines are boosting the stone fruit market. Driven by global demand for fresh produce and expanded trade agreements, these fruits are increasingly popular. For example, the USDA Foreign Agricultural Service reported in September 2024 that U.S. peach exports are expected to rise by 30% to 60,000 tons in 2023/24. This trend supports the stone fruit market.
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What Is The Segmentation Of The Global Stone Fruit Market?
The stone fruit market covered in this report is segmented –
1) By Type: Peaches, Nectarines, Plums, Cherries, Mangoes, Other Types
2) By Distribution Channel: Supermarkets And Hypermarkets, Retail Stores, Online, Other Distribution Channels
3) By Application: Juice Concentrate, Ready-To-Drink Juice, Nectar, Wine, Jams, Other Applications
4) By End User: Bakery And Confectionary, Food Processing Companies, Hotels And Restaurants, Cosmetics Manufacturers, Other End Users
What Emerging Trends Are Shaping The Stone Fruit Market Landscape?
The stone fruit market is witnessing innovations such as stone fruit-flavored alcoholic beverages, appealing to consumers seeking unique flavors. These beverages are infused with the flavors of fruits like peaches, plums, and apricots. For example, in September 2023, Sly Dog Rum, a UK-based producer of premium rums, launched Sly Dog Stoned Fruit rum. This drink combines a three-year-aged golden rum base with stone fruit flavors, enhanced by pink peppercorn for a distinctive sweet and tart profile.
Which Region Has The Fastest Expansion In The Stone Fruit Market?
Asia-Pacific was the largest region in the stone fruit market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the stone fruit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
