ASEAN: Market for Cherries and Sour Cherries 2025

Market Size for Cherries and Sour Cherries in ASEAN

The ASEAN cherry and sour cherry market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, consumption enjoyed a prominent increase. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Cherries and Sour Cherries in ASEAN

In value terms, cherry and sour cherry production contracted to $X in 2022 estimated in export price. Overall, production, however, enjoyed a perceptible increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by 383% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

The country with the largest volume of cherry and sour cherry production was Indonesia (X tons), comprising approx. 85% of total volume. Moreover, cherry and sour cherry production in Indonesia exceeded the figures recorded by the second-largest producer, Lao People's Democratic Republic (X tons), eightfold.

In Indonesia, cherry and sour cherry production remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Lao People's Democratic Republic (+1.2% per year) and Myanmar (+137.7% per year).

Exports of Cherries and Sour Cherries

Exports in ASEAN

In 2022, the amount of cherries and sour cherries exported in ASEAN shrank rapidly to X tons, falling by -54.9% on 2021 figures. In general, exports saw a mild contraction. The growth pace was the most rapid in 2016 with an increase of 243% 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 lower figure.

In value terms, cherry and sour cherry exports shrank significantly to $X in 2022. Total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 37% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then dropped markedly in the following year.

Exports by Country

Singapore was the largest exporter of cherries and sour cherries in ASEAN, with the volume of exports accounting for X tons, which was near 61% of total exports in 2022. Thailand (X tons) held a 26% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (4.8%). The following exporters - the Philippines (X tons) and Malaysia (X tons) - each finished at a 7.5% share of total exports.

Exports from Singapore decreased at an average annual rate of -3.2% from 2012 to 2022. At the same time, the Philippines (+44.9%), Thailand (+14.5%) and Malaysia (+6.1%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +44.9% from 2012-2022. By contrast, Vietnam (-10.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand, the Philippines and Malaysia increased by +20, +3.7 and +1.9 percentage points, respectively.

In value terms, Singapore ($X) remains the largest cherry and sour cherry supplier in ASEAN, comprising 80% of total exports. The second position in the ranking was taken by Thailand ($X), with a 13% share of total exports. It was followed by Malaysia, with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore totaled +1.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+15.5% per year) and Malaysia (+15.9% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, picking up by 79% against the previous year. In general, the export price showed noticeable growth. The pace of growth was the most pronounced in 2017 when the export price increased by 218% against the previous year. The level of export peaked 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 ($X per ton), while the Philippines ($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 (+9.2%), while the other leaders experienced more modest paces of growth.

Imports of Cherries and Sour Cherries

Imports in ASEAN

In 2022, purchases abroad of cherries and sour cherries increased by 2.9% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports posted a strong expansion. The pace of growth was the most pronounced in 2014 with an increase of 51% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, cherry and sour cherry imports surged to $X in 2022. In general, imports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2014 when imports increased by 44%. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

Vietnam was the major importer of cherries and sour cherries in ASEAN, with the volume of imports resulting at X tons, which was approx. 62% of total imports in 2022. It was distantly followed by Thailand (X tons), Singapore (X tons) and Malaysia (X tons), together constituting a 32% share of total imports. The following importers - Cambodia (X tons) and Indonesia (X tons) - each recorded a 6% share of total imports.

Imports into Vietnam increased at an average annual rate of +29.6% from 2012 to 2022. At the same time, Indonesia (+56.0%), Cambodia (+37.2%), Malaysia (+7.6%) and Singapore (+1.1%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +56.0% from 2012-2022. By contrast, Thailand (-1.4%) illustrated a downward trend over the same period. Vietnam (+49 p.p.), Indonesia (+2.8 p.p.) and Cambodia (+2.7 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia, Singapore and Thailand saw its share reduced by -1.9%, -16.4% and -30.7% from 2012 to 2022, respectively.

In value terms, Vietnam ($X) constitutes the largest market for imported cherries and sour cherries in ASEAN, comprising 47% of total imports. The second position in the ranking was taken by Thailand ($X), with a 22% share of total imports. It was followed by Singapore, with a 16% share.

From 2012 to 2022, the average annual growth rate of value in Vietnam stood at +26.6%. In the other countries, the average annual rates were as follows: Thailand (+11.7% per year) and Singapore (+1.8% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, growing by 14% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2013 an increase of 34% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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 Thailand (+13.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform