The main objective of this report is to define, describe, and forecast the global “Fresh Cherries” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market. According to report the global fresh cherries market is projected to grow at a CAGR of 5% over the forecast period of 2018-2024.
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Rising the usages of fresh cherries in food and beverage sector to promote the market growth
Growing usages of fresh cherries in Jellies, Ice Creams, Salads, Dairy Beverages, Direct Consumption and Alcoholic Beverages in the food and beverages sector across the globe is major factor driving the global fresh cherries market. Moreover, growing awareness related to the harmful impact of preservation and chemicals, used for food preservation, consumers all over the world prefer fresh vegetables and fruits, which is fuelling the demand for fresh cherries. In addition, increasing health consciousness among the people over the world is escalate the market. However, any disturbance or delay in the supply chain is anticipated to hamper the fresh cherries market. Furthermore, the rise in consumption of fresh cherries in the countries such as China and India is anticipated to create several growth opportunities in fresh cherries market in near future.
Asia Pacific region to dominate the global Fresh Cherries Market
Among the geographies, Asia Pacific is the leading region in fresh cherries market. Moreover, China has the prominent consumer of fresh cherries in Asia pacific region. In addition, rapid urbanization and popularity of fresh cherries in the emerging countries such as China and India adopting western culture on food habit. North America and Europe are anticipated to see constant development in the fresh cherries market in upcoming years.
The leading players in fresh cherries market are Leelanau Fruit Co., BEL’EXPORT NV, Hood River Cherry Co., Smelterz Orchard Co., The Global Green Co. Ltd., Alacam Tarim, Dell’s Marachino Cherries, and Vitin Fruits, Rainier Fruit Co.
Japan grants access to Canadian cherries
In August 2018, The Canadian province of British Columbia has secured market access for fresh cherries to Japan, giving exporters a new destination in a region where China has been the standout market. The access for the country’s main cherry-growing region was announced by Canadian Agriculture Minister Lawrence MacAulay and Member of Parliament Stephen Fuhr.
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Chinese tariffs to put U.S. cherry export growth under strain
In April 2018, More than half of the US$226 million in U.S. fresh fruit exports to mainland China last year came from cherries, having grown more than four-fold since 2013. But this phenomenal growth rate is now under pressure with sweet cherries set to be collateral damage in a sour trade dispute. Slogged with a new 15% tariff on top of existing import duties and VAT, growers and exporters express their concerns to Fresh Fruit Portal.
Northwest cherries popular in export markets
In Jun 2018, B.J. Thurlby, president of Northwest Cherry Growers, Yakima, Wash., estimates more than 30% of the region’s cherries are exported. Canada recently was overtaken by China as the Northwest’s No. 1 export destination. Both countries receive about 3 million 20-pound cartons of Northwest cherries annually, but recent customs inspection delays of produce in China have caused some export uncertainty for growers, Thurlby said. South Korea and Taiwan, followed by Australia and Japan, are other major importers of Northwest cherries.