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DUBLIN--(BUSINESS WIRE)--The "Fresh Cherries Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering. The Global Fresh Cherries market is estimated to grow at a CAGR of 5.2%, during the forecast period (2020-2025). An increase in the demand for imported cherries, that are larger and sweeter in taste, such as "cheery grand" and "cheery treat", can be attributed to the major shift in demand for fresh sweet cherries from soft and sour varieties, that are prone to weather fluctuations and storage conditions. A growing inclination towards health consciousness, followed by a surge in the uptake of fresh beverages such as smoothies, has led to an overall spike in demand for fresh cherries. This can further be corroborated to the rise in the average price of cherries by almost 40% in Spain in 2019, which is solely attributed to the increase in the cultivation of premium-quality sweet cherries and innovative varieties. Asia was the fastest-growing market for cherries in 2019, with China and Hong Kong (SAR) contributing the largest share in the overall market, primarily aided by increased consumption of fresh sweet varieties, besides a limited domestic production. China and Hong Kong SAR imported fresh cherries valued at USD 1,398.7 million and USD 989.9 million, in 2019, respectively. Key Market Trends Increasing Demand for Imported Sweet Cherries Currently, the fresh cherries market is dominated by an upsurge in the demand for regional imported varieties, primarily originating in Turkey and the United States, in the major importing and consuming countries, such as Europe and China. This has further bolstered the growth in production in Turkey, which reached 639,564.0 metric ton in 2018 from 599,650,0 metric ton in 2016, primarily due to increased investments and a steadily rising area under cultivation as a result of the high export demand. The number of cherry trees in the country reached 34.5 million in 2017, which rose by 35% in the last five years. Furthermore, China's recent protocol adopted in June 2019, which removes the requirement for cherries to be held in cold storage for 16 days before shipment, is expected to augment the growth of the fresh and flavorful cherries in Turkey. Moreover, the rapid adoption of new improved cherry varieties in the United States, like "cheery grand" and "cherry treat", that are larger and sweeter than the conventional "chelan" variety, has witnessed an increased demand from its neighboring countries as well as Asia, including China, Hong Kong, and Japan. Asia-Pacific - The Fastest Growing Market Asia-Pacific was the fastest-growing market in 2019, with China and Hing Kong SAR accounting for the major portion of the overall market for fresh cherries, with a total import volume of 193,549.0 metric tons and 188,663.0 metric ton, respectively. Cherries are an important daily fresh fruit in China, with major imports from Chile, primarily due to the zero-policy free trade agreement signed between the two countries in 2017 and adequate ripening time in Chile between November and January, when China celebrates its Spring Festival. Due to import tariffs as high as 70% when imported from the United States, as a result of the trade war, the import base for China has now expanded to a few new markets in order to support the ever-growing domestic demand, such as Kyrgyzstan, Uzbekistan, and Tajikistan, that supply good quality cherries produced with fewer pesticides. With the rise in middle-income households and affluent consumers, especially in cities like Shanghai, Beijing, and Guangzhou. According to a report by the United States Department of Agriculture (USDA), Hong Kong has witnessed a surge in the demand for regional varieties that reflect a premium-quality image. For instance, Tasmanian cherries, that cost between USD 50 and 100 during the New Year, are in high demand despite the sky-rocketed prices. All these factors are further expected to drive the fresh cherries market in Asia, during the forecast period. Key Topics Covered: 1 INTRODUCTION 2 RESEARCH METHODOLOGY 3 EXECUTIVE SUMMARY 4 MARKET DYNAMICS 4.1 Market Overview 4.2 Market Drivers 4.3 Market Restraints 4.4 Value Chain Analysis 5 MARKET SEGMENTATION 5.1 Geography 5.1.1 North America 5.1.2 Europe 5.1.3 Asia-Pacific 5.1.4 South America 5.1.5 Middle East & Africa 5.1.5.1 Turkey 6 MARKET OPPORTUNITIES & FUTURE TRENDS 7 IMPACT OF COVID-19 For more information about this report visit https://www.researchandmarkets.com/r/28q0mr

Answer: Worldwide Fresh Cherries Industry to 2025 - Increasing Demand for Imported Sweet Cherries - ResearchAndMarkets.com