Vietnam: Sour Cherry Market 2025

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

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