North America Fresh Cherries Market

North America Fresh Cherries Market Analysis:

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

Cherries are one of the main antioxidants known as anthocyanin, which is good for maintaining a healthy body. It is beneficial in inflammatory conditions such as arthritis. Cherries are a good source of vitamin C and they also contain vitamin A, calcium, anthocyanins, carotenoids, protein, and iron. They are used to control blood sugar, help reduce weight loss, and lower cholesterol levels and heart rate, which supports the cardiovascular system. 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:

An increase in demand for imported cherries, which are larger and sweeter tasting, such as "cheery grand" and "merry delicacy", can be attributed to the significant change in demand for fresh sweet cherries of bittersweet varieties subject to weather fluctuations and storage conditions. Improving the shelf life of the fruit has always been one of the main concerns of cherry growers. Therefore, companies are investing in shelf life extension technologies to reduce the likelihood of rot of fresh cherry varieties. The introduction of shelf life extension technology encourages the consumption of fresh cherries. For example, food sustainability solutions provider Hazel Technologies, announced the launch of Hazel® Cherry, its new postharvest technology for fresh cherries. Government funded initiatives to innovate shelf life extension technologies are one of the main drivers contributing to the growth of the fresh cherries market. Growing awareness of food waste has driven the demand for packaging films. The direct consumer application segment of the fresh cherry market is estimated to reach a volume of approximately 2,188,000 metric tons by the end of 2027. Therefore, companies are experimenting with active packaging materials to test their compatibility with fresh produce. Cherry growers are also investing in antimicrobial films that dramatically extend the shelf life of fresh cherries. These packaging films are combined with a low concentration of natural essential oils to extend the shelf life of the fruit. A growing trend in health awareness, followed by an increase in the consumption of cold beverages such as smoothies, has led to a widespread increase in demand for fresh cherries. This can be further corroborated by the increase in the average price of cherries of almost 40% in Spain in 2019, which is only attributed to the increase in the cultivation of premium sweet cherries and innovative varieties.

Market Segmentation:

The Market segmentation for North America 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 North America Fresh Cherries 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.

Impact of COVID-19 on North 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 North America Fresh Cherries has been categorized on the basis of geography to offer a clear understanding of the market. North America Fresh Cherries Market has been divided into the United States, Canada, Mexico and rest of North America. North America and Europe are expected to see steady development in the fresh cherry market in the coming years. The North American market is also expected to experience the highest growth, with the United States and Turkey being the world's leading cherry producers.

Leading Company

Alacam Tarim had the largest share of the North America Fresh Cherries Market in terms of sales revenue in 2021.

Key Players

The North America Fresh Cherries Market is concentrated with well-established players. Key players in the North America Fresh Cherries Market include Vitin Fruits, Alacam Tarim, The Global Green Co. Ltd, Smelterz Orchard Co., Rainier Fruit Co., Leelanau Fruit Co., and BEL'EXPORT NV