Fresh Cherries Market: Increasing Preference for Fresh Fruits Reflect Positively on Demand for Fresh Cherries
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As per Transparency Market Research (TMR), the global fresh cherries market will rise from US$3.9 bn by 2017 to US$5.2 bn by 2022, expanding at a 5.50% CAGR from 2017 to 2022. The sweet cherries market is generating higher revenues as compared to sour cherries type, in terms of taste and held a 60% of the total market in 2017. This increased demand for sweet cherries over sour cherries will continue to remain so for the rest of the forecast period. On the basis of sales channel, the market is expected to be led by the traditional grocery stores and convenience stores. The online channels and direct sales are gaining momentum.
By application, the tarts, bakery, jams, and jellies are witnessing higher consumption than salads, direct consumption, ice creams, dairy beverages, and alcoholic beverages. On the basis of geography, the market is expected to be led by Asia Pacific excluding Japan. APEJ is predicted to expand at a healthy 5.90% CAGR between 2017 and 2022. The growing disposable income of the people in this region is fuelling the growth of the market.
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As per the lead author of the report, “the growing awareness regarding harmful effects of preservatives and chemicals used in food preservation has boded well for the market for fresh cherries.” This has led to the growing demand for fresh fruits and vegetables and this will help the market for fresh cherries to grow. The growing health consciousness among consumers worldwide is in a way boosting the growth of the market. The demand for fresh cherries is especially high in countries such as India and China. The increasing export demand for fresh cherries is also expected to drive the growth of this market.
The growing use of fresh cherries for ice creams, desserts, cakes, pastries, jams, jellies, and other items in the food and beverage sector will bolster the growth of the fresh cherries market. Fresh cherries are also used in milks shakes and other beverages, thus driving the growth of this market. The popularity of fresh cherry fruit is increasing especially in emerging economies of Asia Pacific as they are adopting western culture extensively. The growing disposable incomes of the people are powering them to spend more on delicacies and this will also help the market for fresh cherries to grow.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMRâ€™s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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