Cherries Market Report 2024: Market Size, CAGR, Lucrative Segments And Top Regions

Overview and Scope
Cherries are small, round, fleshy fruits with a hard stone-like pit, typically red or dark purple, and are often sweet or tart in flavor. These are commonly eaten fresh, used in desserts, jams, sauces, and beverages, and can also be dried or preserved.

Sizing and Forecast
The cherries market size has grown strongly in recent years. It will grow from $58.15 billion in 2023 to $63.03 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%.  The  growth in the historic period can be attributed to awareness of the health benefits of cherries, disposable incomes, and urbanization, government policies and regulations supporting the growth of the cherry industry, increased consumer demand for fresh and healthy food options, changes in consumer preferences.

The cherries market size is expected to see strong growth in the next few years. It will grow to $88.11 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%.  The growth in the forecast period can be attributed to the growing demand for organic and natural food products, increased focus on sustainability and environmental responsibility in the cherry industry, rise of e-commerce platforms and online sales channels, growing interest in functional foods and nutraceuticals, improvements in cherry cultivation techniques and crop management. Major trends in the forecast period include growing popularity of dried cherries as a snack, expansion of cherry varieties available in supermarkets, rising interest in cherry-infused beverages and cocktails, adoption of sustainable farming practices in cherry cultivation, and development of innovative cherry-based skincare products.

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Segmentation & Regional Insights
The cherries market covered in this report is segmented –

1) By Type: Sweet, Sour
2) By Varieties: Bing, Rainier, Lambert, Lapkins
3) By Application: Direct Consumption, Cakes And Bakery, Candy And Snacks, Jams And Juice, Alcoholic Beverages, Other Applications
4) By Distribution Channel: Supermarkets Or Hypermarkets, Convenience Stores, Online

Asia-Pacific was the largest region in the cherries market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cherries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The growing popularity of plant-based diets is expected to drive the cherries market going forward. A plant-based diet involves consuming predominantly or exclusively foods derived from plants, including fruits, vegetables, grains, nuts, and seeds, while excluding or minimizing animal products such as meat, dairy, and eggs. The growing popularity of plant-based diets is due to increasing awareness of health benefits, environmental concerns, and ethical considerations regarding animal welfare. Cherries are used in plant-based diets as a flavorful ingredient in salads, smoothies, desserts, and sauces. For instance, in June 2021, according to the report published by Grubhub, a US-based online and mobile food ordering and delivery platform, vegan food delivery orders saw a 17% increase, with plant-based burger orders rising by 28% and vegetarian orders experiencing a 55% rise in 2021 compared to 2020. Therefore, the growing popularity of plant-based diets is driving the cherries market.

Key Industry Players
Major companies operating in the cherries market are  Dole Plc, Del Monte Foods Inc, Maple Leaf Foods, Unifrutti Group, Gebbers Farms, Stemilt Growers, WASHINGTON FRUIT GROWERS, Driscoll’s Inc., Borton Fruit, Zirkle Fruit Company, Chelan Fresh, Columbia Fruit Packers Inc., Domex Superfresh Growers, Rainier Fruit Co., Valley Fresh Produce, Naturipe Fruits, Smeltzer Orchard Company LLC, CMI Orchards LLC., Leelanau Fruit Co., Alaraagri.com, Hood River Cherry Company, Global Green Company, CherryHill Orchards Pty Ltd, Perfecta Produce, AMAZONIA BIO

The cherries market report table of contents includes:

1. Executive Summary
2. Cherries Market Characteristics
3. Cherries Market Trends And Strategies
4. Cherries Market – Macro Economic Scenario
5. Global Cherries Market Size and Growth
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31. Global Cherries Market Competitive Benchmarking
32. Global Cherries Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Cherries Market
34. Cherries Market Future Outlook and Potential Analysis
35. Appendix

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