Report Update Nov 1, 2024

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

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Vietnam: Sour Cherry Market 2024

Sour Cherry Market Size in Vietnam

In 2022, the Vietnamese sour cherry market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption, however, recorded a noticeable decrease. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Sour Cherry Exports

Exports from Vietnam

In 2022, overseas shipments of sour cherries decreased by -3.2% to X kg for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2018 with an increase of 620% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, sour cherry exports dropped modestly to $X in 2022. In general, exports, however, recorded buoyant growth. The pace of growth was the most pronounced in 2018 with an increase of 427%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Singapore (X kg) was the main destination for sour cherry exports from Vietnam, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Singapore amounted to +28.0%.

In value terms, Singapore ($X) also remains the key foreign market for sour cherries exports from Vietnam.

From 2012 to 2022, the average annual rate of growth in terms of value to Singapore totaled +15.1%.

Export Prices by Country

In 2022, the average sour cherry export price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the export price, however, faced a abrupt curtailment. The most prominent rate of growth was recorded in 2014 an increase of 59% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Singapore.

From 2012 to 2022, the rate of growth in terms of prices for Singapore amounted to -10.1% per year.

Sour Cherry Imports

Imports into Vietnam

In 2022, supplies from abroad of sour cherries increased by 268% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 2,515% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, sour cherry imports surged to $X in 2022. In general, imports, however, continue to indicate a abrupt setback. The growth pace was the most rapid in 2017 when imports increased by 1,172% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X tons), Canada (X tons) and New Zealand (X tons) were the main suppliers of sour cherry imports to Vietnam, with a combined 93% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of +23.6%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) constituted the largest supplier of sour cherries to Vietnam, comprising 61% of total imports. The second position in the ranking was taken by Canada ($X), with a 26% share of total imports. It was followed by New Zealand, with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at -6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+9.4% per year) and New Zealand (-7.2% per year).

Import Prices by Country

In 2022, the average sour cherry import price amounted to $X per ton, falling by -14.6% against the previous year. In general, the import price continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2015 when the average import price increased by 26% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-3.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cherries in the world?

Turkey constituted the country with the largest volume of cherry consumption, accounting for 24% of total volume. Moreover, cherry consumption in Turkey exceeded the figures recorded by the second-largest consumer, the United States, threefold. China ranked third in terms of total consumption with an 8.5% share.

What are the largest producers of cherries in the world?

The country with the largest volume of cherry production was Turkey, comprising approx. 26% of total volume. Moreover, 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 Chile, with a 9.7% share.

What are the leading suppliers of cherries to Vietnam?

In value terms, the United States constituted the largest supplier of cherry to Vietnam, comprising 63% of total imports. The second position in the ranking was occupied by Australia, with an 18% share of total imports. It was followed by New Zealand, with a 14% share.

What are the leading importers of cherries from Vietnam?

In value terms, Saudi Arabia remains the key foreign market for cherry exports from Vietnam.

What is the average export price for cherries in Vietnam?

In 2021, the average cherry export price amounted to $1,841 per ton, remaining constant against the previous year.

What is the average import price for cherries in Vietnam?

The average cherry import price stood at $4,198 per ton in 2021, falling by -5.5% against the previous year.

This report provides an in-depth analysis of the sour cherry market in Vietnam. 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

Country coverage:

Vietnam

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Vietnam
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