Latin America Fresh Cherries Market

Latin America Fresh Cherries Market Analysis:

Latin America 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 Latin America 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 vitamin-rich fruits that serve many purposes in the diet. Due to its wide area of ​​use, it has gained in demand over the years. Potassium, an essential mineral that is present in cherries, maintains the body's function and plays a vital role in the functions of the heart, muscles, kidneys, and nerve cells. It also helps the body fight cancer and headaches.

Recent Developments 

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.

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.

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.

Market Drivers and Restraints:

The increasing use of fresh cherries in jellies, ice cream, salads, dairy beverages, direct consumption and alcoholic beverages in the food and beverage industry worldwide is one of the main drivers of the Latin America Fresh Cherries Market. In addition, with an increased awareness of the harmful impact of preservation and the chemicals used to preserve food, consumers around the world prefer fresh fruits and vegetables, which is driving demand for fresh cherries. Additionally, growing health awareness among populations around the world is driving the market higher. However, any disruption or delay in the supply chain is expected to hamper the market for fresh cherries. Furthermore, the increased consumption of fresh cherries in countries such as Mexico and Brazil is expected to create various growth opportunities in the Latin America Fresh Cherries Market in the near future.

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. 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 Latin America 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 Latin America Fresh Cherries has been categorized on the basis of geography to offer a clear understanding of the market. The Latin America Fresh Cherries Market has been divided into Mexico, Brazil, Peru, Chile, and the rest of the Latin America.

The market in Latin America is expected to register a moderate growth rate, due to the growing awareness of the health benefits of various fresh fruits and vegetables among people in the countries of this region.

Leading Company

SICA SAS SICODIS had the largest share of the Latin America Fresh Cherries Market in terms of sales revenue in 2021.

Key Players

The Latin America Fresh Cherries Market is concentrated with well-established players. Key players in the Latin America Fresh Cherries Market include Smelterz Orchard Co., SICA SAS SICODIS, Hood River Cherry Co., Vitin Fruits, Northstar Organics, Leelanau Fruit Co., Perfecta Produce, Alara Agri, and CherryHill Orchards