Europe: Cherry Market 2024

Cherry Market Size in Europe

In 2022, the Europe cherry market decreased by -8.5% to $X, falling for the second year in a row after three years of growth. In general, consumption showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the market value increased by 9.7% against the previous year. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Cherry Production in Europe

In value terms, cherry production amounted to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 20% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were Spain (X tons), Italy (X tons) and Greece (X tons), with a combined 39% share of total production. Ukraine, Poland, Russia, Bulgaria, Romania, Germany, France, Albania and Portugal lagged somewhat behind, together accounting for a further 48%.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +10.4%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average cherry yield in Europe fell slightly to X tons per ha, with a decrease of -2.6% on the previous year. Overall, the yield, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the yield increased by 16% against the previous year. The level of yield peaked at X tons per ha in 2018; however, from 2019 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of cherries were harvested in Europe; increasing by 1.5% against the previous year. Overall, the harvested area saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 5%. As a result, the harvested area attained the peak level of X ha. From 2021 to 2022, the growth of the cherry harvested area remained at a somewhat lower figure.

Cherry Exports

Exports in Europe

In 2022, after two years of growth, there was significant decline in shipments abroad of cherries, when their volume decreased by -18.5% to X tons. The total export volume increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when exports increased by 23% against the previous year. The volume of export peaked at X tons in 2021, and then shrank dramatically in the following year.

In value terms, cherry exports declined markedly to $X in 2022. Total exports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 27%. Over the period under review, the exports attained the maximum at $X in 2021, and then declined significantly in the following year.

Exports by Country

Spain (X tons) and Greece (X tons) represented roughly 45% of total exports in 2022. It was distantly followed by Austria (X tons), Moldova (X tons), Italy (X tons) and Belgium (X tons), together achieving a 34% share of total exports. The following exporters - Serbia (X tons), the Netherlands (X tons), Germany (X tons), North Macedonia (X tons) and Poland (X tons) - together made up 15% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Moldova (with a CAGR of +16.9%), while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Greece ($X) and Austria ($X) were the countries with the highest levels of exports in 2022, together comprising 57% of total exports. Italy, Belgium, the Netherlands, Germany, Moldova, Serbia, North Macedonia and Poland lagged somewhat behind, together comprising a further 35%.

In terms of the main exporting countries, North Macedonia, with a CAGR of +19.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, declining by -9.6% against the previous year. Over the period under review, the export price continues to indicate a slight slump. The pace of growth was the most pronounced in 2016 when the export price increased by 22% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2021, and then declined in the following year.

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 Belgium ($X per ton), while Moldova ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Serbia (+7.3%), while the other leaders experienced more modest paces of growth.

Cherry Imports

Imports in Europe

In 2022, overseas purchases of cherries decreased by -42.1% to X tons for the first time since 2014, thus ending a seven-year rising trend. Over the period under review, imports saw a slight descent. The most prominent rate of growth was recorded in 2020 with an increase of 14% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then contracted remarkably in the following year.

In value terms, cherry imports shrank remarkably to $X in 2022. The total import value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when imports increased by 21% against the previous year. The level of import peaked at $X in 2021, and then fell dramatically in the following year.

Imports by Country

In 2022, Germany (X tons), distantly followed by Austria (X tons), Russia (X tons), the UK (X tons), France (X tons) and the Netherlands (X tons) represented the major importers of cherries, together making up 65% of total imports. Italy (X tons), Poland (X tons), Spain (X tons), Belarus (X tons), Romania (X tons), Portugal (X tons) and Belgium (X tons) took a minor share of total imports.

Germany experienced a relatively flat trend pattern with regard to volume of imports of cherries. At the same time, Romania (+31.4%), Austria (+19.0%), Poland (+16.2%), Belarus (+14.1%), Spain (+11.1%) and Portugal (+11.1%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing importer imported in Europe, with a CAGR of +31.4% from 2012-2022. The Netherlands and France experienced a relatively flat trend pattern. By contrast, Italy (-2.5%), the UK (-2.8%), Belgium (-6.9%) and Russia (-13.3%) illustrated a downward trend over the same period. Austria (+8.9 p.p.), Germany (+3.5 p.p.), Romania (+2.6 p.p.), Poland (+2.4 p.p.), Belarus (+2.1 p.p.) and Spain (+2 p.p.) significantly strengthened its position in terms of the total imports, while the UK, Belgium and Russia saw its share reduced by -1.7%, -1.7% and -28.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest cherry importing markets in Europe were Russia ($X), Germany ($X) and the UK ($X), with a combined 55% share of total imports. Austria, France, the Netherlands, Italy, Spain, Belgium, Poland, Portugal, Belarus and Romania lagged somewhat behind, together accounting for a further 33%.

In terms of the main importing countries, Romania, with a CAGR of +26.9%, recorded the highest rates of growth with regard to the value of imports, 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 Europe stood at $X per ton in 2022, with an increase of 36% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+18.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform