Global Peach And Nectarine Market 2024

Peach And Nectarine Market Size

In 2021, after four years of growth, there was decline in the global peach and nectarine market, when its value decreased by -2.3% to $X. The market value increased at an average annual rate of +3.7% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market hit record highs at $X in 2020, and then declined in the following year.

Peach And Nectarine Production

In value terms, peach and nectarine production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when the production volume increased by 18% against the previous year. Global production peaked at $X in 2020, and then shrank slightly in the following year.

The country with the largest volume of peach and nectarine production was China (X tons), comprising approx. 60% of total volume. Moreover, peach and nectarine production in China exceeded the figures recorded by the second-largest producer, Spain (X tons), tenfold. Italy (X tons) ranked third in terms of total production with a 4.5% share.

In China, peach and nectarine production increased at an average annual rate of +3.0% over the period from 2012-2021. The remaining producing countries recorded the following average annual rates of production growth: Spain (+2.2% per year) and Italy (-1.9% per year).

The global average peach and nectarine yield reached X tons per ha in 2021, therefore, remained relatively stable against the previous year. The yield figure increased at an average annual rate of +2.0% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 5.3%. Over the period under review, the average peach and nectarine yield reached the maximum level at X tons per ha in 2019; however, from 2020 to 2021, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The global peach and nectarine harvested area reached X ha in 2021, therefore, remained relatively stable against the year before. Overall, the harvested area, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the harvested area increased by 6.4% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2016 to 2021, the growth of the global peach and nectarine harvested area remained at a lower figure.

Peach And Nectarine Exports

Exports

Global peach and nectarine exports fell to X tons in 2021, dropping by -8.2% against the previous year's figure. Overall, exports saw a slight downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 11%. The global exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, peach and nectarine exports rose slightly to $X in 2021. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 9.1%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the global exports remained at a lower figure.

Exports by Country

Spain represented the key exporting country with an export of around X tons, which finished at 40% of total exports. Turkey (X tons) held an 11% share (based on physical terms) of total exports, which put it in second place, followed by Italy (6.1%), Chile (6%) and the United States (5.2%). The following exporters - Greece (X tons), China (X tons), Jordan (X tons), Uzbekistan (X tons), Georgia (X tons), South Africa (X tons), Hong Kong SAR (X tons) and France (X tons) - together made up 18% of total exports.

Spain experienced a relatively flat trend pattern with regard to volume of exports of peaches and nectarines. At the same time, Hong Kong SAR (+59.3%), Georgia (+44.4%), Turkey (+16.5%) and South Africa (+9.1%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing exporter exported in the world, with a CAGR of +59.3% from 2012-2021. Chile and China experienced a relatively flat trend pattern. By contrast, the United States (-2.0%), Jordan (-2.2%), Uzbekistan (-5.0%), France (-6.6%), Greece (-9.6%) and Italy (-13.7%) illustrated a downward trend over the same period. While the share of Turkey (+8.2 p.p.), Spain (+4.4 p.p.), Uzbekistan (+2.2 p.p.), Georgia (+1.9 p.p.) and Hong Kong SAR (+1.7 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of Greece (-4.7 p.p.) and Italy (-14.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Spain ($X) remains the largest peach and nectarine supplier worldwide, comprising 44% of global exports. The second position in the ranking was taken by Turkey ($X), with a 7% share of global exports. It was followed by Italy, with a 6.8% share.

In Spain, peach and nectarine exports increased at an average annual rate of +3.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Turkey (+22.1% per year) and Italy (-8.6% per year).

Export Prices by Country

In 2021, the average peach and nectarine export price amounted to $X per ton, surging by 14% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2020 an increase of 22% against the previous year. The global export price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was France ($X per ton), while Jordan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+22.3%), while the other global leaders experienced more modest paces of growth.

Peach And Nectarine Imports

Imports

In 2021, global peach and nectarine imports reduced to X tons, waning by -6.4% compared with 2020. Over the period under review, imports saw a slight decrease. The pace of growth was the most pronounced in 2017 when imports increased by 15%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of global imports remained at a somewhat lower figure.

In value terms, peach and nectarine imports reached $X in 2021. The total import value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by 10%. Over the period under review, global imports attained the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Russia (X tons) and Germany (X tons) represented the largest importers of peaches and nectarinesacross the globe, together amounting to near 26% of total imports. It was followed by France (X tons) and Italy (X tons), together mixing up a 15% share of total imports. Poland (X tons), the UK (X tons), the Netherlands (X tons), Canada (X tons), Portugal (X tons), Mexico (X tons), Iraq (X tons), Saudi Arabia (X tons) and Ukraine (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Italy (with a CAGR of +7.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest peach and nectarine importing markets worldwide were Germany ($X), Russia ($X) and France ($X), with a combined 35% share of global imports. These countries were followed by Italy, the UK, Poland, the Netherlands, Canada, Mexico, Portugal, Iraq, Ukraine and Saudi Arabia, which together accounted for a further 29%.

Italy, with a CAGR of +6.9%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average peach and nectarine import price amounted to $X per ton, with an increase of 12% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. The growth pace was the most rapid in 2020 an increase of 23%. Global import price peaked in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+5.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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