Of late, the global fresh cherries market has been witnessing a steady rise. With the increasing awareness regarding the harmful effect of preservatives, consumers across the world are preferring fresh fruits and vegetables, which is also reflecting on the demand for fresh cherries greatly. The increasing consumption of fresh cherries in emerging economies, fueled by the rise in the purchasing power of consumers, is likely to add significantly to the growth of this market in the near future.
The worldwide market for fresh cherries is expected to present an opportunity worth US$3.99 bn by 2017. Further, the market is projected to rise at a robust CAGR of 5.50% during the period from 2017 to 2022 and reach US$5.22 bn by the end of 2022. The rising export demand for fresh cherries is anticipated to boost this market substantially in the years to come.
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Global Fresh Cherries Market: Trends and Prospects
The world fresh cherries market is predicted to gain impetus and experience considerable market growth due to a significant rise in awareness about the health benefits of fresh fruits and growing disposable income of the people.
There is an increasing demand for fresh vegetables and fruits for consumption and as such we see increasing demand for fresh cherries as well. Furthermore, with increasing disposable income, people are willing to spend more on fresh cherries.
Cherries come with a lot of health benefits and they belong to the family of apricots, plums, almonds and peaches. It is often used in various dessert preparations such as in pies, garnishing in cocktails and so on. Cherries are known to have compounds that are cancer preventive. Furthermore, it also cuts down the risk of gout and helps in the reduction of inflammation. In addition to that, it reduces the risk of stroke and helps in the diminishing arthritis pain. With all these benefits, the market for fresh cherries is forecasted to grow fairly well.
Sweet cherries are considered more popular than the sour ones. It is extensively used in ice creams, salads, jellies, alcoholic beverages, and so on. Furthermore, cherries are consumed more into jams, bakery, jellies, tarts and the like.
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Global Fresh cherries Market: Geographical Evaluation
So far as regional dominance is taken into account, China emerges as a prominent consumer of cherries across the globe and is foreseen to remain such a leading consumer over the timeframe of forecast that stretches from 2017 to 2022. Much of the growth of China is due to increasing consumption of cherries in the country. Asia Pacific has been a leading region due to growing popularity of fresh cherries and increasing disposable income of the people of this region who can now afford and are willing to spend on fresh fruits such as cherries for various health benefits. Increasing urbanization and growing adoption of western lifestyle are also estimated to stimulate the demand for cherries in this part of the world.
Apart from Asia Pacific, Latin America is also forecasted to offer promising market for fresh cherries owing to its health benefits and increasing adoption of western culture.
The report also comes with an assessment of other important regions of the international Fresh cherries market, namely the Middle East and Africa (MEA), Europe, and North America.