ASEAN: Sour Cherry Market 2025

Sour Cherry Market Size in ASEAN

In 2022, the ASEAN sour cherry market was finally on the rise to reach $X for the first time since 2017, thus ending a four-year declining trend. Overall, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Sour Cherry Production in ASEAN

In value terms, sour cherry production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production showed a significant increase. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Singapore (X tons) constituted the country with the largest volume of sour cherry production, accounting for 88% of total volume. Moreover, sour cherry production in Singapore exceeded the figures recorded by the second-largest producer, Thailand (X tons), eightfold.

From 2012 to 2022, the average annual growth rate of volume in Singapore was relatively modest.

Sour Cherry Exports

Exports in ASEAN

Sour cherry exports dropped rapidly to X tons in 2022, reducing by -59.7% on the previous year. Overall, exports recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 104% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, sour cherry exports declined markedly to $X in 2022. In general, exports recorded a mild curtailment. The pace of growth appeared the most rapid in 2013 when exports increased by 69%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Singapore represented the largest exporting country with an export of about X tons, which amounted to 64% of total exports. It was distantly followed by Thailand (X tons) and Malaysia (X tons), together generating a 34% share of total exports. Vietnam (X kg) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to sour cherry exports from Singapore stood at -2.2%. At the same time, Vietnam (+28.0%) and Malaysia (+14.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +28.0% from 2012-2022. By contrast, Thailand (-3.6%) illustrated a downward trend over the same period. Singapore (+5.7 p.p.), Malaysia (+5 p.p.) and Vietnam (+2 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest sour cherry supplier in ASEAN, comprising 94% of total exports. The second position in the ranking was taken by Thailand ($X), with a 4.9% share of total exports. It was followed by Malaysia, with a 1.2% share.

From 2012 to 2022, the average annual growth rate of value in Singapore was relatively modest. In the other countries, the average annual rates were as follows: Thailand (-6.5% per year) and Malaysia (+5.4% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, picking up by 108% against the previous year. Export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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 Singapore (+1.7%), while the other leaders experienced a decline in the export price figures.

Sour Cherry Imports

Imports in ASEAN

In 2022, supplies from abroad of sour cherries was finally on the rise to reach X tons after three years of decline. Over the period under review, imports, however, continue to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by 118% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, sour cherry imports reduced rapidly to $X in 2022. In general, imports, however, recorded a abrupt decrease. The growth pace was the most rapid in 2014 when imports increased by 60%. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

Vietnam (X tons), Singapore (X tons) and Malaysia (X tons) represented roughly 97% of total imports in 2022. Cambodia (X tons) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +34.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported sour cherries in ASEAN, comprising 60% of total imports. The second position in the ranking was held by Malaysia ($X), with a 26% share of total imports. It was followed by Vietnam, with an 8.9% share.

In Singapore, sour cherry imports shrank by an average annual rate of -8.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (+29.2% per year) and Vietnam (-6.2% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, with a decrease of -24.6% against the previous year. In general, the import price showed a slight shrinkage. The most prominent rate of growth was recorded in 2020 an increase of 42%. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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 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 Cambodia (+5.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform