Report Update Nov 1, 2024

Philippines - Cherries and Sour Cherries - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Market for Cherries and Sour Cherries 2024

Market Size for Cherries and Sour Cherries in the Philippines

The Philippine cherry and sour cherry market fell remarkably to $X in 2022, waning by -90.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a sharp setback. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Exports of Cherries and Sour Cherries

Exports from the Philippines

In 2022, shipments abroad of cherries and sour cherries increased by 92% to X tons, rising for the sixth consecutive year after three years of decline. In general, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 31,749%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, cherry and sour cherry exports contracted to $X in 2022. Overall, exports showed a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 9,191%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Hong Kong SAR (X tons) was the main destination for cherry and sour cherry exports from the Philippines, with a 98% share of total exports. It was followed by Bahrain (X kg), with a 1.9% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Hong Kong SAR was relatively modest.

In value terms, Hong Kong SAR ($X) emerged as the key foreign market for cherries and sour cherries exports from the Philippines, comprising 90% of total exports. The second position in the ranking was held by Bahrain ($X), with a 10% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR was relatively modest.

Export Prices by Country

The average cherry and sour cherry export price stood at $X per ton in 2022, falling by -52.7% against the previous year. Overall, the export price recorded a deep downturn. The pace of growth was the most pronounced in 2015 when the average export price increased by 142%. The export price peaked at $X per ton in 2021, and then contracted rapidly in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the average price for exports to Hong Kong SAR amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (+10.1%).

Imports of Cherries and Sour Cherries

Imports into the Philippines

In 2022, the amount of cherries and sour cherries imported into the Philippines fell markedly to X tons, with a decrease of -79.4% compared with the previous year's figure. In general, imports faced a sharp decline. The pace of growth was the most pronounced in 2016 when imports increased by 59%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, cherry and sour cherry imports dropped markedly to $X in 2022. Overall, imports saw a significant curtailment. The pace of growth was the most pronounced in 2016 with an increase of 79%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Chile (X tons) was the main supplier of cherry and sour cherry to the Philippines, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Chile amounted to -17.7%.

In value terms, Chile ($X) constituted the largest supplier of cherries and sour cherries to the Philippines.

From 2012 to 2022, the average annual growth rate of value from Chile stood at -20.6%.

Import Prices by Country

The average cherry and sour cherry import price stood at $X per ton in 2022, reducing by -39.5% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 56%. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Chile.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +8.5% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cherries and sour cherries in the world?

The country with the largest volume of cherry and sour cherry consumption was Turkey, accounting for 21% of total volume. Moreover, cherry and sour cherry consumption in Turkey exceeded the figures recorded by the second-largest consumer, Russia, twofold. The third position in this ranking was occupied by the United States, with an 8.1% share.

What are the largest producers of cherries and sour cherries in the world?

The country with the largest volume of cherry and sour cherry production was Turkey, accounting for 22% of total volume. Moreover, cherry and sour cherry production in Turkey exceeded the figures recorded by the second-largest producer, the United States, twofold. The third position in this ranking was occupied by Russia, with a 7.4% share.

What are the leading suppliers of cherries and sour cherries to the Philippines?

In value terms, the United States constituted the largest supplier of cherry and sour cherry to the Philippines, comprising 59% of total imports. The second position in the ranking was occupied by Australia, with a 21% share of total imports. It was followed by New Zealand, with a 9.7% share.

What is the average export price for cherries and sour cherries in the Philippines?

The average cherry and sour cherry export price stood at $5,826 per ton in 2019, flattening at the previous year.

What is the average import price for cherries and sour cherries in the Philippines?

In 2021, the average cherry and sour cherry import price amounted to $6,188 per ton, growing by 24% against the previous year.

This report provides an in-depth analysis of the market for cherry and sour cherry in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 530 - Sour cherries
FCL 531 - Cherries

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023