Fresh cherry market would reach USD 23.76 billion from 2022 to 2027

Fresh cherry market would reach USD 23.76 billion from 2022 to 2027

Fresh cherry market
Urban agriculture is one of the growth factors
Fresh cherry market

According to figures provided by Technavio, fresh cherries market will grow by $23,764.23 million from 2022 to 2027, which translates into an annual growth of 8.32%.

The United States, the United Kingdom and South Korea are some of the countries that are taking over urban agriculture, a trend that is setting standards in the industry and is, in part, one of the responses to the good projections. In this sense, demand from these countries is expected to continue growing in the short term.

Urban Agriculture

As experts explain, this trend is occurring mainly due to the increasing limitations of arable land, which have given way to agriculture concentrated in communal spaces that are being imagined as cultivation spaces. And on the other hand, as explained in the report, urban agriculture could partially mitigate the high costs of traditional production while positively influencing the productivity of consumers themselves.

Understanding the market: Technavio segmentation

To better understand the market, the company specialized in analysis and industry, segmented the market based on type (Conventional and Organic), distribution channel (Offline and Online), and geography (APAC, Europe, North America, Middle East and Africa, and South America).

In this way, the growth of the market will have two main actors, traditional and urban agriculture, although the former will still be the undisputed leader. The conventional segment corresponds to cherries grown using traditional agricultural practices that involve the use of synthetic fertilizers, pesticides and other agrochemical inputs. To work with this fruit, pesticides are used to protect the cherries from pests and diseases, ensuring optimal performance and minimizing crop losses.

These cherries are generally more accessible and cost-effective when juxtaposed with other offerings, such as organic, and also have good characteristics that consumers tend to prefer such as flavor and size, as well as accessibility. This means that, without a doubt, its growth will continue to increase exponentially in the projected years.

Global Overview

By geography, the global fresh cherries market is segmented into APAC, Europe, North America, Middle East and Africa, and South America.

It is estimated that APAC will contribute 36% to the growth of the global market during the forecast period, as they act as key producers, exporters, importers and consumers of this fruit.

China stands out as one of the main cherry producers in the APAC region. As the largest producer and exporter of cherries in the world, the Asian country contributes more than 90% of the global market share, a factor that is expected to drive the growth of the regional fresh cherry market between now and 2027.

Difficulties such as strict food regulation, however, continue to be one of the great barriers to overcome. Although above all, the future looks very promising.

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Source: PR Newswire


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