Fresh Cherries Market size to grow by USD 23.76 billion from 2022 to 2027 | The growing popularity of urban farming is an emerging market trend - Technavio

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Nov 14, 2023, 20:15 ET

NEW YORK, Nov. 14, 2023 /PRNewswire/ -- The fresh cherries market size is estimated to grow by USD 23,764.23 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 8.32% during the forecast period. Also, the growth momentum will be progressing. The growing popularity of urban farming is an emerging market trend. The surge in popularity of urban farming in countries like the US, the UK, South Korea, and others is poised to elevate the global demand for fresh cherries in the projected timeframe. Urban agricultural practices, driven by the constraints of vertical farming due to limited arable land, are on the rise. Urban farming concentrates on communal spaces, such as school farms and repurposed parking lots, for cultivation purposes. Given the increasing need for personal consumption of fruits and vegetables, including fresh cherries, rooftop farming is predominantly embraced by apartment-dwelling families. The substantial expenses associated with transporting and refrigerating fresh cherries upon production are notable. Urban farming could potentially mitigate these costs while also boosting productivity. In essence, urban farming is likely to encourage greater consumer involvement and contribute to the expansion of the fresh cherries market during the forecast period. For more insights on the historic (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

Technavio has announced its latest market research report titled Global Fresh Cherries Market 2023-2027

What's New?

Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
Global competitiveness and key competitor positions
Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - buy the report!

Fresh Cherries Market - Segmentation Assessment
Segment Overview
Technavio has 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).

The market share growth by the conventional segment will be significant during the forecast period. The conventional segment pertains to cherries cultivated through traditional agricultural practices, which entail the utilization of synthetic fertilizers, pesticides, and other agrochemical inputs. These cherries are cultivated without conforming to the principles and regulations of organic farming. Pesticides are employed to safeguard the cherries from pests and diseases, ensuring optimal yield and minimizing harvest losses. These cherries are generally more easily accessible and cost-effective when juxtaposed with their organic counterparts. They find favour among consumers who prioritize aspects such as flavour, availability, and affordability. Hence, these factors are anticipated to propel the expansion of the conventional segment within the fresh cherries market during the forecast period.

Geography Overview

By geography, the global fresh cherries market is segmented into APAC, Europe, North America, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global fresh cherries market.

APAC is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The APAC region holds a notable position within the global fresh cherries market, with countries in this area serving as pivotal producers, importers, and consumers of these fruits. The region's significance is underscored by its key role in the market. The demand for cherries has been steadily rising in recent times within this region due to factors like increasing health consciousness, evolving dietary preferences, and a growing attraction towards exotic fruits. China stands out as one of the primary cherry producers in the APAC region. As the world's largest cherry producer and exporter, China contributes to more than 90% of the global market share, a factor projected to drive the growth of the regional fresh cherries market during the forecast period.

Insights on the market contribution of various segments, including country and region wise historic data (2017 to 2021) and forecast market size (2023 to 2027) - Download a Sample Report

Fresh Cherries Market – Market Dynamics

Key factor driving market growth- The health benefits of fresh cherries are notably driving the market growth.

Leading trends influencing the market - The growing popularity of urban farming is an emerging market trend.

Major challenges hindering the market growth- Stringent food safety regulations are the key challenge hindering market growth.

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)- Request a sample report!

What are the key data covered in this Fresh Cherries Market report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the fresh cherries market between 2023 and 2027
Precise estimation of the fresh cherries market size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behaviour
Growth of the fresh cherries market across APAC, Europe, North America, Middle East and Africa, and South America
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of fresh cherries market vendors

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Related Reports:

The fruits and vegetables market is estimated to grow at a CAGR of 6.39% between 2022 and 2027. The size of the market is forecast to increase by 917.55 million tonnes.

The organic fresh food market share is expected to increase to USD 88.35 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 15.29%.

Table of cotents

Executive Summary

Market Landscape

Market Sizing

Historic Market Size

Five Forces Analysis

Market Segmentation by Type

Market Segmentation by Distribution Channel

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, and Trends

Vendor Landscape

Vendor Analysis

Appendix

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio