Rockville, April 23, 2024 (GLOBE NEWSWIRE) -- Short seasonality and geographic limitations make cherries an expensive fruit. However, cherry concentrate products are available in the frozen and aseptic form. These have a long shelf life and can be used throughout the year. According to a new report by Fact.MR, the global cherry concentrate market has been analysed to reach a valuation of US$ 1.03 billion in 2024 and thereafter advance at a CAGR of 4.5% during the forecast period (2024 to 2034).
Cherry concentrate is useful for making syrups, marmalades, jams, juices, and more. Cherries are one of the main foods with effective antioxidants and are well-known for their health benefits. Flavonoids, a major antioxidant found in cherry juice and derived from plants, are thought to strengthen the immune system in humans.
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Segmentation of Cherry Concentrate Market Research
| By Type | By Application | By Region |
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More consumers nowadays are seeking healthier food options with excellent flavour. Cherries are the ideal candidate for this purpose as an additive in healthy foods and beverages. Consumers are also getting attracted to cherry concentrate products due to their evolving taste preference. Cherry flavor is being be used for different experimental dishes, which is widening the scope of the market.
Key Takeaways from Market Study
- The global cherry concentrate market is projected to expand at 4.5% CAGR and reach US$ 1.61 billion by 2034.
- Projected market value for the aseptic type of cherry concentrate is US$ 936 million for 2034.
- North America is estimated to hold a market share of 22.6% in 2024.
- The juice segment under application has been projected to expand at a CAGR of 4% and reach US$ 452 million by 2034.
- Together, North America and East Asia are expected to create an absolute $ opportunity of US$ 266 million between 2024 and 2034.
“Demand for aseptic cherry concentrate to increase and remain substantial over the coming years,” says a Fact.MR analyst.
Market Growth Stratagems
Key players in the market are focusing on expansion activities owing to increased demand for cherry concentrate across the world. Manufacturers are also customizing their products according to the evolving tastes and trends in the market.
Most consumers are demanding these products in the juice form as ingredient that can be used in several dishes. Cherry concentrate manufacturers are focusing on innovating their product offerings to meet the demands of the market. Manufacturers are collaborating with exporters for efficient delivery of products.
- Lemonconcentrate provides tailored fruit concentrate solutions, offering shipping options in drums, tankers, bins, and bags in boxes.
- Milne Fruit Products employs cutting-edge processing technologies in its production. Its fruit and vegetable ingredients, offered as juice or puree, come in not-from-concentrate and concentrated options. The company also provides a wide range of items that are available in the organic form, ensuring high-quality choices for diverse consumer needs.
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| Report Attribute | Details |
| Value Projection (2034) | US$ 1.03 Billion |
| Growth Rate (2024-2034) | 4.5% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 96 Tables |
| No. of Figures | 85 Figures |
Steadily Increasing Domestic Production and Consumption
China is one of the leading producers of cherries worldwide. In the past, Chilean cherries have been imported into the nation. Nonetheless, local production has been steadily increasing. Concentrated cherries are becoming more and more popular as a result of the country's widespread use of cherry juice in food and beverage applications.
In China, e-commerce and social media are also very important for the sales of cherries and their concentrates. Customers across the nation now have greater access to cherry concentrate thanks to the efficient use of online platforms and distribution channels.
The growing demand for cherries is also prompting China to increase its domestic production. A wide range of fruit concentrate products are making their debut in China, and the introduction of new products containing cherries has propelled market expansion, resulting in China progressively gaining market share for cherry concentrate.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the cherry concentrate market, presenting historical market data (2019 to 2023) and forecast statistics for the period of (2024 to 2034).
The study reveals essential insights based on type (aseptic cherry concentrate, frozen cherry concentrate) and application (juices, jams, marmalades, syrups, ready meals, soft drinks, bakery products), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, and the Middle East & Africa).
Checkout More Related Studies Published by Fact.MR Research:
Citrus Concentrate Market: The global citrus concentrate market is projected to be worth US$ 8,978.2 million in 2024. Projections indicate the market will expand at a CAGR of 5.3% through 2034.
Apple Juice Concentrate Market: The global apple juice concentrate market size is calculated at US$ 4.67 billion for 2024. Worldwide demand for apple juice concentrates is forecasted to rise at a CAGR of 5.5% and reach a market value of US$ 8.01 billion by 2034-end.
Milk Protein Concentrate Market: The global milk protein concentrate market size is calculated at US$ 4.01 billion for 2024 and is projected to reach a size of US$ 7.64 billion by the end of 2034.
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