Asia Pacific Fresh Cherries Market

Asia Pacific Fresh Cherries Market Analysis:

Asia Pacific Fresh Cherries Market is expected at USD xx.xx million in 2021 and is anticipated to extent an over of USD xx.xx million by the end of the assessment period. The Asia Pacific Fresh Cherries Market is estimated to experience reasonable growth to record a CAGR of xx.xx% throughout the estimate period (2022 - 2027).

Cherries are a natural product that is grown in two forms: sour and sweet. Cherries are known for their antioxidant properties. Sweet cherries contain more vitamin C and fiber, which helps to eliminate the risk of cancer in the future. Sweet cherries are mainly available in customer stores for direct consumption. While the sour cherries are preserved and used as an application by other food segments, since they cannot be eaten raw.

Recent Developments

Country Fresh and Sun Rich USA, two divisions that were previously part of the Fresh Food group, will now operate as a separate company under the name Country Fresh following the completion of the acquisition of the Country Fresh and Sun Rich USA assets by one group comprised of Stellex Capital Directorate, former CEO and original founder of Country Fresh. The new parent entity will operate under the name Country Fresh and will supply Country Fresh and Sun Rich USA brand products. Country Fresh is a leading partner in full-service fresh food solutions for retail stores, foodservice, clubs, and convenience stores.

Arable Capital Partners, an investment firm focused on the food and agriculture industry, today announced an investment in Pacific Trellis Fruit / Dulcinea. Pacific Trellis Fruit is one of America's leading producers, importers, and distributors of premium fresh fruit, including Dulcinea-brand melons, table grapes, citrus, cherries, stone fruits, and more.

Boulevard Acquisition Corp., announced that it completed the acquisition of AgroFresh, the postharvest specialty chemicals business of The Dow Chemical Company (NYSE: DOW). The transaction was completed approved unanimously by the boards of directors of both companies and was approved by a vote of Boulevard shareholders. With the closing of this transaction, AgroFresh became a wholly owned subsidiary of Boulevard Acquisition Corp., and Boulevard was renamed AgroFresh Solutions, Inc.

Oregon Cherry Growers Inc. acquired the cherry business of Oregon-based Bell Foods International Inc. The Salem-based cherry processor, famous for its locally grown maraschino cherries, acquired Bell Foods' cherry business on February 26 as part of its growth strategy, according to a statement. Bell Foods founder and President Craig Bell will join Oregon Cherry Growers as an advisor, and his company will continue to produce and process products other than cherries.

Market Drivers and Restraints:

The increasing use of fresh cherries in ice cream, jellies, salads, dairy drinks and alcoholic beverages around the world is a key factor that is expected to drive the growth of the global market. Cherries are a rich source of vitamin A, vitamin C, anthocyanin, calcium, carotenoids, iron, and protein that help control blood sugar, weight loss, cholesterol, and the cardiovascular system. This is another factor that is expected to fuel the growth of the global market. Increasing disposable income, population growth and people's growing preference for fresh fruits and vegetables are other factors likely to drive the growth of the world market. However, sudden weather changes can affect the performance of the product, which is a factor that can hinder the growth of the target market to some extent.

Market Segmentation

The Market segmentation for Asia Pacific Fresh Cherries can be divided into Type, Application, and Sales Channel. Depending on the Type it can be divided into Sweet and Sour. Among the Type segments, the Sweet segment is expected to record higher revenue growth in the global market during the forecast period, due to growing consumer awareness of health. Depending on the Application it can be divided into Alcoholic Beverages, Direct Consumption, Dairy Beverages, Salads, Ice Creams, Jellies, Jams, and Bakery. Among the application segments, the bakery segment is expected to represent significant growth in the global market, followed by the jams and jellies segments. This is due to an increased awareness of the health benefits associated with consuming these products. Based on the sales Channel it can be divided into convenience stores, online channels, modern trade, traditional grocery stores, and various retail formats including direct sales. Among the sales channel segments, the traditional grocery store segments are expected to represent the largest share in terms of value in the coming years. This is mainly due to the ease of availability of the products. The e-commerce segment is expected to dominate in terms of CAGR due to the availability of various discounts and offers, as well as services such as door-to-door delivery.

Impact of COVID-19 on Asia Pacific Fresh Cherries Market

COVID-19 is an unrivaled global public health emergency that has affected nearly every industry, so long-term effects are expected to affect industry growth during the forecast period. Ongoing research amplifies the research framework to ensure inclusion of the underlying issues of COVID-19 and possible future pathways. The report provides insights on COVID-19 taking into account changes in consumer behavior and demand, purchasing patterns, supply chain deviation, the dynamics of current market forces, and significant government interventions. The updated study provides information, analysis, estimates and forecasts, considering the impact of COVID-19 on the market.

Regional Analysis

The market for Asia Pacific Fresh Cherries has been categorized on the basis of geography to offer a clear understanding of the market. The Market for Asia Pacific Fresh Cherries has been divided into China, Taiwan, South Korea, India, Japan, Australia, and New Zealand, and the rest of the Asia-Pacific. The Asia-Pacific region, excluding Japan, has become the dominant provincial market for fresh cherries with the arrival of China as a major consumer of fresh cherries. On top of that, he is expected to maintain his developmental streak over the next period. China offers an exceptional opportunity for the growth of the global market for fresh cherries due to the increasing use of cherries, thanks to rapid urbanization and the growing acceptance of Western culture. It is also predictable that the increase in the disposable income of users will add to the increase in the need for cherries in this country. As a result, it is expected to drive the global fresh cherry market in the Asia Pacific region excluding Japan in the near future.

Leading Company

Leelanau Fruit Co had the largest share of the Asia Pacific Fresh Cherries Market in terms of sales revenue in 2021.

Key Players

The Asia Pacific Fresh Cherries Market is concentrated with well-established players. Key players in the Asia Pacific Fresh Cherries Market include Rainier Fruit Co, Leelanau Fruit Co., Vitin Fruits, Dell's Marachino Cherries, Alacam Tarim, The Global Green Co. Ltd., Smelterz Orchard Co., Hood River Cherry Co., BEL'EXPORT NV, etc