IndexBox, Inc. has just published a new report “World – Cherries – Market Analysis, Forecast, Size, Trends and Insights“. Here is a summary of the report’s key findings.
Cherry Imports
In 2017, imports of cherries worldwide stood at 311K tonnes, growing by 10% against the previous year level. In general, it indicated a prominent increase from 2007 to 2017: the total imports volume increased at an average annual rate of +5.5% over the last ten years. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on the result of 2017, cherry imports increased by +81.9% against its level of 2010. The most prominent rate of growth was recorded in 2011, an increase of 18% year-to-year. Global import peaked in 2017, and are likely to see steady growth in the near future.
In value terms, cherry imports stood at $1.4B in 2017. Overall, cherry imports continue to indicate a remarkable growth. Over the period under review, cherry imports attained its maximum level in 2017, and are expected to retain its growth in the immediate term.
Cherry Imports By Country
Germany (97K tonnes) represented the main importing country with an import of about 97K tonnes, which amounted to 31% of total imports. It was distantly followed by China (40K tonnes), and Taiwan, Chinese (24K tonnes), together generating 21% share of total imports. France (14K tonnes), Belgium (13K tonnes), Kazakhstan (13K tonnes), Japan (12K tonnes), Italy (12K tonnes), Brazil (11K tonnes), Australia (9.7K tonnes), South Korea (6.7K tonnes), and Switzerland (5.3K tonnes) held the minor share of total imports.
Imports into Germany increased at an average annual rate of +8.8% from 2007 to 2017. At the same time, China (+30.7%), Brazil (+18.8%), Australia (+16.4%), Kazakhstan (+15.8%), Switzerland (+15.4%), Taiwan, Chinese (+8.2%), Belgium (+7.1%), South Korea (+5.0%), France (+4.6%), Italy (+4.1%), and Japan (+2.5%) displayed positive paces of growth. Moreover, China emerged as the fastest growing importer in the world, with a CAGR of +30.7% from 2007-2017. France (-1.6%), Belgium (-2.0%), Australia (-2.4%), Brazil (-3.0%), Kazakhstan (-3.1%), Taiwan, Chinese (-4.2%), China (-12.0%), and Germany (-17.7%) significantly weakened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, China ($319M), Germany ($276M), and Japan ($197M) appeared to be the countries with the highest levels of imports in 2017, with a combined 56% share of global imports. Taiwan, Chinese, South Korea, Belgium, Australia, Italy, France, Brazil, Switzerland and Kazakhstan lagged somewhat behind, together accounting for a further 34%.
Kazakhstan (+57.9% per year) had the highest growth rate of imports, in terms of the main importing countries, over the last 10 years, while the other global leaders experienced more modest paces of growth.
Cherry Import Prices By Country
In 2017, the average import price for cherries amounted to $4,520 per tonne, rising by 2% against the previous year. Overall, it indicated a prominent increase from 2007 to 2017: the import price increased at an average annual rate of +5.2% over the last ten years. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on the result of 2017, cherry import price increased by +66.5% against its level of 2007. The most prominent rate of growth was recorded in 2010, an increase of 23% against the previous year level. Over the period under review, average import price for cherry attained its maximum level in 2017, and is expected to retain its growth in the near future.
Import prices varied noticeably by country of destination; the country with the highest import price was Japan ($16 per kg), while Kazakhstan ($1,265 per tonne) was among the lowest.
From 2007 to 2017, the most notable growth rate of import prices was attained by Kazakhstan (+36.3% per year), while the other global leaders experienced more modest paces of growth.
Description
This report provides an in-depth analysis of the global cherry market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
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