Fresh cherries market: introduction
A recent study published by Transparency Market Research on the fresh cherry market includes an overall industry analysis and an assessment of the opportunities for 2019-2029. Global Fresh Cherries Market Expected to be Valued at ~$47.3 Md in 2019which is expected to increase at a CAGR of 8.5%to reach US$107.2 billion through 2029.
Two-thirds of consumers spend on fresh food
Nowadays, consumers are becoming followers of a healthy lifestyle. With the ongoing trends popularizing healthy eating habits, many of them are eating smaller meals throughout the day, especially those on weight management plans. Meanwhile, others are looking for healthier options when it comes to their meals. This in turn creates growth opportunities for the fresh cherry market. The healthier snack category is expected to grow at a significant rate. This category includes fruit and Greek yogurt nutrition bars, and is expected to grow to 5% through 2018. According to the American Wholesale Marketers Association, fresh snacks, primarily fruit, including cherries, are popular with consumers. In 2017consumption of fresh cherries was 0.60 million tones and its global market share in the fresh fruit market was 1.4%. However, it should increase by 7.5% in the next 10 years. This reflects a shift in consumer preferences for fresh foods and consumer demand for fresh foods is expected to remain strong.
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Frozen fruit sales skyrocket as smoothies gain popularity
The growing demand for a variety of beverages in the food industry is one of the major factors driving the sales of fresh cherries across the globe. Additionally, the market is expected to benefit from the growing demand for frozen fruits.
Compared to regular fruits, frozen fruits retain the majority of the nutrients they contain for a longer period of time. This is one of the main reasons for their increasing demand all over the world.
Moreover, frozen fruits are in great demand due to their diverse use in baking, confectionery, and smoothies. Likewise, the demand for smoothies is increasing rapidly, due to the high consumption of healthy drinks and the growing demand for ready-to-go food products. This will in turn increase the demand for fresh cherries in the global market. Additionally, millennials’ growing awareness of their well-being and rapid internet penetration bodes well for the overall market. Access to information increases the demand for prepared foods. This is fueling the demand for smoothies and simultaneously fueling the demand for fresh cherries around the world.
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Gradual switch to fresh organic cherries stimulates growth
Consumers are increasingly health and fitness conscious. The growing trend of “going organic” is widely affecting various markets in the food and beverage sector. Thus, organic production of fresh cherries with minimal use of chemicals while launching new fresh cherry products and raising consumer awareness with proper labeling and advertisements can drive the market for fresh cherries over the period. forecast.
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According to the USDA (United States Department of Agriculture), consumer demand for organic fruit is showing double-digit growth. In the United States, organic food sales account for more than 4% of total US food sales, according to recent industry statistics, where total food sales are approximately 47.9 billion.
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