Fresh Cherries Market

Fresh Cherries Market Analysis:

Fresh Cherries Market size 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 Fresh Cherries Market is estimated to experience reasonable growth to record a CAGR of xx.xx% throughout the estimate period (2022 - 2027).

Fresh cherries are small, round, usually red and black with a sweet or sour (sour) taste. Cherry varieties include black cherry, Spanish cherry, and tart cherry. Cherries are well known for their antioxidant properties, as they are rich in vitamins and minerals, fiber, potassium, calcium, and folate. Additionally, sweet cherries contain more vitamin C, fiber, carotenoids, and anthocyanins, which can help reduce your risk of cancer. Regular consumption of sour cherries can help increase melatonin levels and improve sleep.

Recent Developments

King Fresh Produce has acquired the license to market Farmington Fresh, Hy-Flyer and Mary Ellen cherry labels under an agreement with Farmington Fresh Sales, LLC, based in Stockton, California. As a result, King Fresh will offer its customers early California cherries for the upcoming 2014 season, as well as its current program of table grapes, tree fruits, pomegranates, berries and citrus throughout the year, according to a press release. Additionally, King Fresh will install state-of-the-art Cherry equipment in its 50,000-square-foot packaging shop and cold warehouse near Kingsburg, California.

In July 2020, GrubMarket announced that it has completed the acquisitions of Growers Produce Inc and Cali Fresh Produce Inc, two well-sized, reputable wholesale produce wholesalers with established customer bases on the West Coast, East Coast, Midwest and other parts of the United States, including its Pacific. Islands. The two companies have established close relationships with growers of California cherries and other seasonally grown California produce. Following these two acquisitions, GrubMarket will become a major supplier of California cherries across the country and will also strengthen its sourcing power on a wide range of fresh California produce, particularly fruits.

GrubMarket, a San Francisco-based food technology company, continued its acquisition frenzy with the acquisition of specialty fruit provider Bengard Marketing. Neither company disclosed the financial details of the transaction. “Bengard Marketing is a very successful specialty fruit supplier with a passion for people and products. The acquisition of Bengard Marketing will expand GrubMarket's strategic reach to sustainable producers in Chile, Argentina, Peru and New Zealand.

Producer-owned and maraschino cherry growers cooperative Oregon Cherry Growers, Inc. (OCG) has signed an agreement to be acquired by Pacific Coast Producers, a California-based grower cooperative that processes and conditions fruit and tomatoes private label foodservice and retailers. Pacific Coast Producers plans to operate OCG as an independent business and a subsidiary of its cooperative, retaining the Oregon Cherry Growers name, as well as the production facilities in Salem and The Dalles, Oregon.

Market Drivers and Restraints:

The preservatives market is experiencing a recession as people turn to fresh fruit for healthy lifestyles around the world. This is an important factor influencing the demand for cherries in the market. Increased customer health awareness is driving revenue growth globally. The preferred distribution channels for this market segment are traditional grocery stores and e-commerce. E-commerce is expected to dominate the distribution channel, as various types of fruit discounts and home delivery services are offered. Several health benefits are associated with cherries, which are driving the growth of the fresh cherries market around the world. In addition, the increase in the income levels of the population is contributing to the growth of this segment. High-quality cherries are considered one of the difficult fruits to produce. Cherries are in great demand in the market. The risk of rotting and pitting affecting the quality of cherries limits the growth of the market. This can be solved by advancing cherries packaging using advanced technology so that they do not spoil during shipment. Additionally, changing weather conditions could hamper cherry production, disrupting the sourcing process. There is an increase in the use of cherries in various segments of the food industry. Some of them include ice cream, salads, drinks, and dairy drinks. There is growth potential in the use of cherries in these food segments. In terms of application, bakeries have shown a very high demand in the market for fresh cherries. Furthermore, jams and jellies have contributed to the significant growth of the cherry 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:

Basically, the global market for fresh cherries is classified on the basis of sales channel, taste and application. On the basis of taste, the world market differs in sour and sweet. Sweet cherries have a much higher requirement compared to sour cherries. The subdivision is expected to own more than 60% of the entire market in the next period and is expected to remain dominant for the next two years. According to the sales channel, the fresh cherry market is segmented into traditional grocery stores, modern commerce, online channels, convenience stores, and various retail formats, including direct sales. Convenience stores and traditional grocery stores are the main sales channels for fresh cherries and this situation is expected to continue to be so in the near future. Direct selling and online channels are also receiving energy in this market for fresh cherries. Dairy drinks, direct consumption, jellies, ice creams, alcoholic beverages and salads have become the main application areas for fresh cherries around the world. Of these, the use of cherries is more in pastries, cakes, jellies and jams than in other areas of application.

Impact of COVID-19 on Fresh Cherries Market

COVID-19 is causing economic crises that affect the buying behavior of customers around the world. The food sectors are also affected by this pandemic. The fruit is considered healthy and yet affordable compared to other processed products, so its demand is expected to increase during the current COVID-19 scenario. This will affect other food sectors such as confectionery and processed foods. Many cherry growers are now facing problems as the cherries are ready for harvest, but stores are closed due to COVID-19. Also, the transportation of cherries is a big problem, as the government bans travel, disrupting supply chain activities. This is disrupting this year's harvest schedule globally.

Regional Analysis:

The Market for Fresh Cherries has been categorized on the basis of geography to offer a clear understanding of the global market, the world Market for Fresh Cherries has been studied in four regions: North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. Among all regions, the global market for fresh cherries is classified on the basis of sales channel, taste and application. On the basis of taste, the world market differs in sour and sweet. Sweet cherries have a much higher requirement than sour cherries. The subdivision is expected to own more than 60% of the entire market over the next period and is expected to remain dominant for the next two years. According to the sales channel, the fresh cherry market is segmented into traditional grocery stores, modern commerce, online channels, convenience stores, and various retail formats, including direct sales. Convenience stores and traditional grocery stores are the main sales channels for fresh cherries and this situation is expected to continue to be so in the near future. Direct and online sales channels are also receiving energy in this fresh cherry market. Dairy drinks, direct consumption, jellies, ice creams, alcoholic beverages and salads have become the main fields of application for fresh cherries in the world. Of these, the use of cherries is used more in pastries, cakes, jellies and jams than in other areas of application. Latin America countries offer many expansion opportunities to the main players. The Latin America markets is also expected to see the most growth, with the Brazil and Mexico being the world's top cherry producers. The Middle East and Africa is one of the main emerging regions, which will generate significant opportunities in the market during the anticipated period due to the growing awareness related to the detrimental impact of preservatives, users around the world prefer fresh vegetables and fruits. The region is expected to experience moderate growth during the forecast period due to the above factors. Turkey is considered a crucial market in the Middle East and Africa.

Leading Company

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

Key Players

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