IndexBox, Inc. has just published a new report “World – Cherries (Sour) – Market Analysis, Forecast, Size, Trends and Insights“. Here is a summary of the report’s key findings.
Sour cherry Imports
In 2017, the amount of cherries (sour) imported worldwide amounted to 59K tonnes, lowering by -13.7% against the previous year figure. In general, sour cherry imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013, when import increased by 19% from the previous year level. Over the period under review, sour cherry imports attained its maximum volume of 69K tonnes in 2015; however, from 2016 to 2017, it failed to regain its strength.
In value terms, sour cherry imports stood at $113M in 2017. Overall, sour cherry imports continue to indicate a relatively flat trend pattern. Over the period under review, sour cherry imports attained its maximum level of $119M in 2007; however, from 2008 to 2017, it failed to regain its strength.
Sour cherry Imports By Country
Germany (18K tonnes) represented the largest importing country with an import of around 18K tonnes, which reached 30% of total imports. Russia (7.6K tonnes) took the second position in the ranking, followed by Belarus (7.4K tonnes), and Austria (2.8K tonnes). All these countries together held near 30% share of total imports. Singapore (1.7K tonnes), Serbia (1.6K tonnes), Italy (1.5K tonnes), Hungary (1.5K tonnes), the U.S. (1.2K tonnes), Belgium (1.1K tonnes), Poland (1.1K tonnes), and Egypt (1K tonnes) followed a long way behind the leaders.
Imports into Germany decreased at an average annual rate of -1.3% from 2007 to 2017. At the same time, Hungary (+43.6%), Belarus (+42.3%), Serbia (+26.1%), Egypt (+21.8%), Italy (+18.0%), Austria (+11.5%), and Singapore (+5.0%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest growing importer in the world, with a CAGR of +43.6% from 2007-2017. By contrast, Russia (-2.0%), Poland (-3.8%), the U.S. (-7.8%), and Belgium (-10.3%) illustrated a downward trend over the same period. While the share of Germany (4%), Belgium (4%), Russia (3%), and the U.S. (2%) increased significantly in terms of the global imports from 2007-2017, the share of Italy (-2.0%), Serbia (-2.4%), Hungary (-2.4%), Austria (-3.1%), and Belarus (-12.0%) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the largest sour cherry markets worldwide were Germany ($20M), Singapore ($20M), and the U.S. ($10M), together accounting for 44% of global imports. Belarus, Russia, Belgium, Austria, Italy, Egypt, Hungary, Serbia and Poland lagged somewhat behind, together comprising a further 23%.
Belarus (+43.3% per year) experienced the highest rates of growth with regard to the imports, among the main importing countries, over the last 10 years, while the other global leaders experienced more modest paces of growth.
Sour cherry Import Prices By Country
The average sour cherry import price stood at $1,901 per tonne in 2017, ascending by 29% against the previous year. In general, sour cherry import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017, when import increased by 29% year-to-year. Global import price peaked of $1,973 per tonne in 2007; however, from 2008 to 2017, it stood at a somewhat lower level.
Import prices varied noticeably by country of destination; the country with the highest import price was Singapore ($11 per kg), while Serbia ($359 per tonne) was among the lowest.
From 2007 to 2017, the most notable growth rate of import prices was attained by the U.S. (+20.4% per year), while the other global leaders experienced more modest paces of growth.
Description
This report provides an in-depth analysis of the global sour 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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