Innovations in Shelf-life Expansion Technologies to Drive Sales of Fresh Cherries, Market to Reach Valuation of US$ 107.2 Bn by 2029, says TMR

· With fast-growing trend of 'Fruit-in-Beer' and booming brewing industry, the global fresh cherries market is likely to attract growth opportunities worldwide

· Consumers' growing awareness about health and wellbeing is anticipated to drive demand for nutritious food items, which is likely to boost demand for fresh cherries

ALBANY, N.Y., July 22, 2021 /PRNewswire/ -- The significant rise in the demand for fresh sweet cherries, which are susceptible to storage conditions and weather variations, has resulted in the sale of imported cherries that are sweeter in taste and larger in size such as 'cheery treat' and 'cheery grand.' Moreover, fresh cherries have gained popularity due to health awareness, thus leading to increase in the consumption of different cherry beverages such as smoothies. This factor is projected to support the development of the global fresh cherries market in the near future.

Consumers are increasingly adopting a healthy lifestyle. Several people, especially those who are on a weight-loss plan, are increasingly inclining toward nutritional food items. They include fresh fruits in the form of juices, smoothies, etc., in their diet. This factor is opening up growth prospects for the fresh cherries market.

The global fresh cherries market is expected to grow at a CAGR of 8.5% during the forecast period of 2019 to 2029. The market is predicted to reach a value of US$ 107.2 Bn by 2029. Firms involved in fresh cherry cultivation are promoting a variety of techniques to increase profit margins. Businesses are now moving into high-demand countries of Asia Pacific, such as China, along with Europe and Middle East & Africa.

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Key Findings of Market Report

• Growing Inclination for Black Cherries to Open Up New Revenue Streams for Market Players

Cherry growers are benefiting from the rising interest in black cherries that are firmer and sweeter. In order to increase the sales of fresh cherries, companies in the market are employing a variety of marketing strategies. A case in point is the development of logo and brands by producers to market areas where large and high quality cherries are acquired and distributed. They are collaborating with local shops to increase their revenues. High-quality cherries are often associated with brand recognition; fresh cherry producers are engaging in branding with the aim to create a sense of loyalty to the brands. However, since cherries are not available throughout the year, cultivators of fresh cherries are utilizing cross-merchandising options to maintain demand and maximize their earnings during the peak season.

In addition, producers are adopting the strategy of cross merchandising by displaying cherries with watermelons, summer beverages, and picnic items to enhance customer uptake of the product.

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• High Demand for Frozen Cherries to Support Market Expansion

One of the key factors driving the sales of fresh cherries around the world is the increased demand for an extensive range of beverages. In addition, the global fresh cherries market is likely to benefit from the increased demand for frozen fruits in general. Frozen fruits can maintain most of their nutrients during longer periods of time compared to fresh fruits. Thus, to increase the shelf life of fresh cherries, frozen cherries are being marketed. This factor is also driving the fresh cherries market. Frozen cherries are also in high demand due to their numerous uses in smoothies, pastries, and confectionary items.

Furthermore, the growing awareness about health, food, nutrition, and well-being among millennials due to rapid penetration of the Internet is likely to bode well for the overall market. The need for ready-to-eat food items is rising as information becomes more widely available. This is increasing the demand for smoothies, thus driving the fresh cherries market across the world.

Fresh Cherries Market: Growth Drivers

• Fresh cherries are frequently utilized as a component in cosmetic and skincare items. Cherries possess anti-inflammatory properties and are beneficial for the skin. Since cherries are a great source of Beta carotene, their demand in the personal & cosmetic industry is likely to benefit the global market.
• Cherry producers also invest in antimicrobial films that prolong the shelf life of fresh cherries substantially. These sheets of packaging are mixed with small levels of essential natural oils for cherries to stay fresh for longer time.

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Fresh Cherries Market: Key Competitors

• The Global Green Co. Ltd
• Hood River Cherry Co.
• Leelanau Fruit Co.
• Diva Agro Ltd
• CherryHill Orchards
• Rainier Fruit Co.

Fresh Cherries Market: Segmentation

Type

• Sour Cherry
• Sweet Cherry

Nature

• Organic
• Conventional

Application

• Direct Consumption
• Bakery
• Tarts
• Jams
• Jellies
• Ice Cream
• Salads
• Dairy Beverages
• Alcoholic Beverages

Distribution Channel

• Modern Trade
• Traditional Grocery Stores
• Convenience Stores
• Online Channels
• Other Retail Formats
• Direct Sales

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