ASEAN: Cherry Market 2024

Cherry Market Size in ASEAN

The ASEAN cherry market expanded sharply to $X in 2022, increasing by X% against the previous year. In general, consumption, however, posted significant growth. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the near future.

Cherry Production in ASEAN

In value terms, cherry production dropped markedly to $X in 2022 estimated in export price. In general, production, however, continues to indicate significant growth. The pace of growth was the most pronounced in 2021 when the production volume decreased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of cherry production was Lao People's Democratic Republic (X tons), accounting for X% of total volume.

From 2012 to 2022, the average annual growth rate of volume in Lao People's Democratic Republic stood at X%.

Cherry Exports

Exports in ASEAN

In 2022, shipments abroad of cherries decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, exports, however, saw a tangible expansion. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, cherry exports fell notably to $X in 2022. Over the period under review, exports, however, recorded a prominent expansion. The pace of growth appeared the most rapid in 2019 when exports increased by X%. The level of export peaked at $X in 2021, and then contracted markedly in the following year.

Exports by Country

Singapore represented the major exporter of cherries in ASEAN, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2022. Thailand (X tons) ranks second in terms of the total exports with a X% share, followed by Vietnam (X%) and Malaysia (X%).

Singapore experienced a relatively flat trend pattern with regard to volume of exports of cherries. At the same time, Thailand (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. Vietnam experienced a relatively flat trend pattern. While the share of Thailand (X p.p.) and Malaysia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Vietnam (X p.p.) and Singapore (X p.p.) displayed negative dynamics.

In value terms, Singapore ($X) remains the largest cherry supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by Vietnam, with an X% share.

In Singapore, cherry exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (X% per year) and Vietnam (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, rising by X% against the previous year. In general, the export price saw a pronounced expansion. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced mixed trends in the export price figures.

Cherry Imports

Imports in ASEAN

In 2022, purchases abroad of cherries decreased by X% to X tons, falling for the third year in a row after six years of growth. Overall, imports, however, recorded a buoyant increase. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, cherry imports totaled $X in 2022. In general, imports, however, recorded a significant expansion. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Vietnam (X tons) was the key importer of cherries, making up X% of total imports. Thailand (X tons) took the second position in the ranking, distantly followed by Singapore (X tons), Malaysia (X tons) and Indonesia (X tons). All these countries together took approx. X% share of total imports. Cambodia (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to cherry imports into Vietnam stood at X%. At the same time, Indonesia (X%), Cambodia (X%), Singapore (X%), Malaysia (X%) and Thailand (X%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. While the share of Vietnam (X p.p.), Malaysia (X p.p.), Indonesia (X p.p.) and Cambodia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Thailand (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X), Thailand ($X) and Singapore ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Malaysia, Indonesia and Cambodia lagged somewhat behind, together accounting for a further X%.

Indonesia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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