Fresh Cherries Market: Introduction
A recent study published by Transparency Market Research on the fresh cherries market includes global industry analysis and opportunity assessment for 2019-2029. The global fresh cherries market is expected to be valued at ~US$ 47.3 Bn in 2019, which is projected to rise at a CAGR of 8.5%, to reach US$ 107.2 Bn by 2029.
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Two–third of Consumers Spend on Fresh Foods
Consumers nowadays are becoming followers of healthy lifestyle. With ongoing trends popularizing healthy eating habits, many of them are taking smaller meals throughout the day, especially those are following weight management plans. Meanwhile others are looking for healthier options with regards to their meals. This in turn creates growth opportunities for the fresh cherries market. The better-for-you snacks category is expected to grow at a significant rate. This category includes nutrition bars fruits and Greek yogurt, and is anticipated to grow at 5% by 2018. According to the American Wholesale Marketers Association, fresh snacks-primarily fruits including cherries – are popular among consumers. In 2017, fresh cherries consumption was at 0.60 million tones and its global market share in the fresh fruit market was 1.4%. However, it is anticipated to rise by 7.5% in upcoming 10 years. This reflects a shift in consumer preferences for fresh foods and it is anticipated that consumer demand for fresh food will remain strong.
Frozen Fruit Sales Soar as Smoothies Get Popular
The rising demand for a variety of beverages in the food and beverage industry is one of the major factors bolstering fresh cherries sales across the globe. In addition to this, the market is expected to gain from the rising demand for frozen fruit.
As compared to ordinary fruits, frozen fruits retain a majority of nutrients present in them for a longer period. This is one of the key reasons behind their increasing demand worldwide.
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Furthermore, frozen fruits are high in demand because of their diverse usage in bakery, confectionery, and smoothies. Likewise, the demand for smoothies is rapidly increasing, due to the high consumption of healthy beverages and the increasing demand for ready-to-go food products. This will in turn increase the demand of fresh cherries in the global market. Moreover, the rising awareness among millennial about their wellbeing and with rapid penetration of the internet will bode well for the overall market. Access to information is increasing the demand for prepared to-eat nourishment items. This is fueling the demand of smoothies and simultaneously fueling the demand for fresh cherries around the world.
Gradual Shift toward Organic Fresh Cherries Boosts Growth
Consumers are becoming increasingly conscious about their health and fitness. The rising ‘move to organic’ trend is largely affecting various markets in the food and beverage sector. Thus, organically producing fresh cherries with minimum use of chemicals while launching new fresh cherries products and making consumers aware of the same with proper labeling and advertisements can boost the fresh cherries market in the forecast period.
According to USDA (United States Department of Agriculture), consumers’ demand for organic fruit is showing a double-digit growth. In the U.S., organic food sales account for over 4 percent of total US food sales, according to recent industry statistics, wherein food sales total is approximately 47.9 billion.
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Global Fresh Cherries Market Segmentation
Fresh Cherries Market, by Type
Fresh Cherries Market, by Nature
Fresh Cherries Market, by Application
- Direct Consumption
- Ice Cream
- Dairy Beverages
- Alcoholic Beverages
Fresh Cherries Market, by Distribution Channel
- Modern Trade
- Traditional Grocery Stores
- Convenience Stores
- Online Channels
- Other Retail formats
- Direct Sales
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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