South-Eastern Asia: Cherry Market 2025

Cherry Market Size in South-Eastern Asia

The Southeast Asian cherry market expanded significantly to $X in 2022, with an increase of 8.2% against the previous year. In general, consumption saw a remarkable increase. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Cherry Production in South-Eastern Asia

In value terms, cherry production reduced notably to $X in 2022 estimated in export price. In general, production, however, posted a significant expansion. The growth pace was the most rapid in 2016 with an increase of 275,414%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

The country with the largest volume of cherry production was Lao People's Democratic Republic (X tons), comprising approx. 100% of total volume.

In Lao People's Democratic Republic, cherry production declined by an average annual rate of -51.8% over the period from 2012-2022.

Cherry Exports

Exports in South-Eastern Asia

In 2022, shipments abroad of cherries decreased by -65.7% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, exports, however, recorded a tangible expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 771%. Over the period under review, the exports attained the maximum at X tons in 2021, and then fell rapidly in the following year.

In value terms, cherry exports declined markedly to $X in 2022. Overall, exports, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2018 with an increase of 124%. The level of export peaked at $X in 2021, and then declined dramatically in the following year.

Exports by Country

Singapore was the key exporter of cherries in South-Eastern Asia, with the volume of exports accounting for X tons, which was approx. 49% of total exports in 2022. Vietnam (X tons) took the second position in the ranking, distantly followed by Thailand (X tons). All these countries together took near 50% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Thailand (with a CAGR of +56.9%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Singapore ($X) remains the largest cherry supplier in South-Eastern Asia, comprising 75% of total exports. The second position in the ranking was held by Thailand ($X), with a 17% share of total exports.

In Singapore, cherry exports increased at an average annual rate of +3.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (+49.7% per year) and Vietnam (+5.6% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, growing by 135% against the previous year. Over the period under review, the export price posted a mild expansion. The pace of growth was the most pronounced in 2017 an increase of 412% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a 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 (+4.4%), while the other leaders experienced a decline in the export price figures.

Cherry Imports

Imports in South-Eastern Asia

After two years of decline, supplies from abroad of cherries increased by 4.8% to X tons in 2022. Over the period under review, imports enjoyed a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of 47% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, cherry imports rose markedly to $X in 2022. Overall, imports showed a resilient expansion. The growth pace was the most rapid in 2019 when imports increased by 41% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Vietnam (X tons) represented the key importer of cherries, achieving 63% of total imports. Thailand (X tons) took the second position in the ranking, followed by Singapore (X tons), Malaysia (X tons) and Indonesia (X tons). All these countries together held approx. 35% share of total imports. Cambodia (X tons) followed a long way behind the leaders.

Imports into Vietnam increased at an average annual rate of +32.5% from 2012 to 2022. At the same time, Indonesia (+63.6%), Singapore (+20.5%), Cambodia (+18.1%), Malaysia (+5.6%) and Thailand (+4.4%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +63.6% from 2012-2022. From 2012 to 2022, the share of Vietnam, Indonesia and Singapore increased by +43, +4.4 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X), Thailand ($X) and Singapore ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 86% of total imports. Malaysia, Indonesia and Cambodia lagged somewhat behind, together accounting for a further 14%.

Indonesia, with a CAGR of +61.8%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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 South-Eastern Asia stood at $X per ton in 2022, rising by 3.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2020 an increase of 18%. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while Cambodia ($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 (+9.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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