Dried Tart Cherry Market to Grow at a CAGR of 5.5% to reach US$ 4,684.44 Million from 2020 to 2027

Dried Tart Cherry Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Product Type (Freeze Dried, Sun Dried, Infused Dried, and Others),Nature (Conventional andOrganic), End Use (Bakery Products, Confectionaries, Dairy Products, Beverages, Cereal and Snack Bars, and Others), and Distribution Channel (Hypermarkets and Supermarkets, Convenience Stores, Online, and Others)

Publication Month : Dec 2020

  • Report Code : TIPRE00006803
  • Category : Food and Beverages
  • Status : Published
  • No. of Pages : 237
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The dried tart cherry market was valued at US$ 3,069.35 million in 2019 and is projected to reach US$4,684.44 million by 2027; it is expected to grow at a CAGR of 5.5%from 2020to 2027.

Dried tart cherry is rich in nutrients and have important properties such as antioxidant and anti-inflammatory. It is rich in potassium, fiber, and beta carotene. Dried tart cherry have a unique sweet and tangy taste, and are used in the preparation of various food and beverage products. Dried tart cherry offer several health advantages such as supports heart health, promotes better sleep, and offer relief from pain. It is a natural source of melatonin, which helps to regulate skin cycle. Dried tart cherry is an excellent source of boron, which further supports bone health. It contains high amounts of anthocyanin, which provide anti-inflammatory properties to help in repair and maintenance of muscle tissue.

Asia Pacific is expected to grow with the highest CAGR of 6% during the forecast period.The demand for dried tart cherry is expected to increase in the region with the growth of various end-use industries such as bakery, confectionery, and beverages. Also, increasing inclination toward natural products is driving the growth of the dried tart cherry market. The dried tart cherry manufacturers are focusing toward capturing high market share in countries such as China, India, Japan, and South Korea.

As of December 2020, the US, India, Brazil, Russia, France, Spain, the UK, Turkey, Italy, and Spain are among the worst-affected countries in terms confirmed COVID-19 cases and reported deaths. According to the latest WHO figures updated on December 2020, there are ~79,232,555 confirmed cases and 1,754,493 total deaths were reported globally. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global food &beverages industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. For instance, China is the global hub of manufacturing and the largest raw material supplier for various industries and is also one of the worst-affected countries. The lockdown of various plants and factories in China is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and sales of various food and beverages. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are affecting the business collaborations and partnerships opportunities. All these factors are anticipated to affect the food &beverages industry in a negative manner and thus act as restraining factor for the growth of various markets related to this industry in the coming months.

Global Dried Tart Cherry Market

Global Dried Tart Cherry Market

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Market Insights

Increase in Use of Dried Tart Cherry in Cosmetics Industry

Tart cherries are known for their antioxidants and anti-inflammable properties. This makes it useful in several cosmetic products such as face masks and face creams. It is used as an anti-wrinkle cream to improve the skin texture and to prevent premature aging. It is also used in several other cosmetics such as lipsticks and other cosmetic products. The industry is experiencing an increased demand for natural skin care products made of tart cherries. The companies have also realized the immense potential of dried tart cherry for cosmetics products. Tart cherry in dried form can be added to various cosmetic products. Studies show that tart cherry is loaded with nutrients, vitamins, and nutrients, such as Vitamins C, E, and K, the dried tart cherry is often used in beauty and skincare products to treat the skin, and improve the look of elasticity. Dried tart cherry is rich with anthocyanin, vitamin C, and anti-oxidants. Thus, the surge in the use of dried tart cherry in the range of cosmetics is expected to provide significant growth opportunities to the dried tart cherry providers in the near future.

Product Type-Based Insights

Based on product type, the dried tart cherry market is segmented intofreeze-dried, sun-dried, infused-dried, and other dried cherries.The infused driedsegment accounted for the largest share ofthe dried tart cherry market in 2019. The infused dried technology allows the addition or infusion of fruit juice or sugar solution followed by the process of osmosis and thendrying up at a temperature of 60°C. The process of infuseddrying of tart cherries involve a series of events. First, the cherries are softened and gently infused with a sugar solution to obtain specified brix level. The liquid enters the interior through osmosis and takes out the water from the tart cherries. The fruit can be infused with sugar or other sweeteners to obtain a desired product. Owing to the sour flavor and taste of tart cherries, they are preferably being lightly sweetened through the infused dried process. In a couple of hours, the product becomes infused and shelf stable.In the next stage, the wet product is air-dried to 15–20% moisture content and to reacha specified moisture level. It isfurther lightly sprayed with oil, followed by the process of inspection and packaging. Strong fruity taste of dried infused fruits make them ideal for direct consumption as well as for adding in muesli and yogurt. The infused dried tart cherries are considered as an ideal choice for bakery or snack applications.

Dried Tart Cherry Market, by Product Type– 2019& 2027

Dried Tart Cherry Market, by Product Type– 2019& 2027

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Nature-Based Insights

Based on nature, the dried tart cherry marketis segmented into conventional and organic.The conventionalsegment accounted for a larger share ofthe dried tart cherry market in 2019.Conventional farming is one of the most practiced farming methods involving the use of fertilizers, pesticides, and other chemical compounds for cultivating crops. The conventional form of farming technique is widely adopted among the farmers to obtain higher yield and availability of product at low cost.The technique runs in favorof the producers and cultivators as the yields are high in comparison to cost.Moreover, the lack of knowledge among farmers toward health benefits associated with the organic farming have promoted the growth of the segment. For instance, in Turkey, almost 63% of farmers adopted conventional agriculture to produce tart or sour cherry and 37% of them opted organic agriculture in 2017.

End Use-BasedInsights

Based on end use, the dried tart cherry marketis segmented into bakery products, confectionaries, dairy products, beverages, cereal and snack bars, cosmetics, and others. The bakery productssegment accounted for the largest share ofthe dried tart cherry market in 2019.Bakery products includes bread, rolls, cookies, pies, pastries, and muffins, and the dried tart cherries are used in the recipes of many bakery products. These are usually prepared from flour or meal derived from oats. Dried tart cherries are used for enhancing the quality and flavor of bakery products. Its deep red color and sour taste makes its useful substance to create delicious foods. They are used as finished items in bakeryitems along withsnack mixes dried tart cherries such as cakes, cookies, candy, and granola bars. The rising health conscious population prefers to go for products thatare healthy and nutritious. Moreover, the growing demand for healthy snacking items and convenience products is further expected to boost the demand for dried tart cherries. Several bakery and confectionary company are using tart cherries as a useful ingredient to prepare bakery products.

Distribution Channel-BasedInsights

Based on distribution channel, the dried tart cherry marketis segmented into hypermarkets and supermarkets, convenience stores, online, and others. The hypermarkets and supermarkets segment accounted for the largest share ofthe dried tart cherry market in 2019.Manufacturers involve various channels of distribution to make product easily accessible in the market. Among several distribution channels, supermarket and hypermarket have gained relative importance. Producers sell their products to distributors who provide those products to the hypermarkets and supermarkets, depending upon their demand. This proves to be beneficial as the product would get a good sales image in these stores; moreover, there would be no wastage of these products as the manufacturing would take place only on demand and in specific numbers. Apart from this, these stores represent a large variety of products, allowing easy comparison and accessibility to several brands. The sales of dried tart cherries through hypermarkets and supermarkets is growing at high pace. The increasing number of hypermarkets and supermarkets has positively impacted the growth of the segment.

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Dried Tart Cherry Market: Strategic Insights

dried-tart-cherry-market
Market Size Value inUS$ 3,069.35 Million in 2019
Market Size Value byUS$ 4,684.44 Million by 2027
Growth rateCAGR of 5.5% from 2020-2027
Forecast Period2020-2027
Base Year2020
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Shejal

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Mergers and acquisition and research & development are commonly adopted strategies by companies to expand their footprint worldwide, which is further impacting the size of the market. The players present in the dried tart cherry marketare implementing the mergers and acquisition and research &development strategies to enlarge the customer base and to gain significant market share across the world, which also permits the players to maintain their brand name globally.

Report Spotlights

  • Progressive industry trends in the global dried tart cherry market to help players develop effective long-term strategies
  • Business growth strategies adopted by developed and developing markets
  • Quantitative analysis of the global dried tart cherry market from 2017 to 2027
  • Estimation of global dried tart cherrydemand across various industries
  • PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth
  • Recent developments to understand the competitive market scenario and global dried tart cherry demand
  • Market trends and outlook coupled with factors driving and restraining the growth of the global dried tart cherry market
  • Decision-making process by understanding strategies that underpin commercial interest with regard to global dried tart cherry marketgrowth
  • Global dried tart cherry marketsize at various nodes of market
  • Detailed overview and segmentation of the global dried tart cherry market, as well as its dynamics in the industry
  • Global dried tart cherry market size in various regions with promising growth opportunities

Dried Tart Cherry Market – By Product type

  • Freeze Dried
  • Sun Dried
  • Infused Dried
  • Others     

Dried Tart Cherry Market – By Nature

  • Conventional
  • Organic

Dried Tart Cherry Market – By End Use

  • Bakery Products
  • Confectionaries
  • Dairy Products
  • Beverages
  • Cereal & Snack Bars
  • Others

Dried Tart Cherry Market – By Distribution Channel

  • Supermarkets & Hypermarket
  • Convenience Store
  • Online
  • Others

Company Profiles

  • Cherry Central
  • CherryActive Australia
  • Cherryvite Ltd
  • Enko Meyve Orman Ürünleri San.Tic.Ltd.
  • Fruit d'Or
  • Graceland Fruit, Inc.
  • Payson Fruit Growers
  • Royal Ridge Fruits
  • Shoreline Fruit
  • Smeltzer Orchard Company, LLC
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product Type ,Nature , End Use , and Distribution Channel

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Australia, Brazil, Canada, Chile, China, Germany, India, Iran, Japan, Mexico, Poland, Russian Federation, South Africa, South Korea, Turkey, Ukraine, United Arab Emirates, United States

Frequently Asked Questions


Can you list some of the major players operating in the globaldried tart cherry market?

The major players operating in the globaldried tart cherry marketareCherry Central; CherryActive Australia; Cherryvite Ltd.; EnkoMeyveOrmanÜrünleriSan.Tic.Ltd.; Fruit d'Or; Graceland Fruit, Inc.; Payson Fruit Growers; Royal Ridge Fruits; Shoreline Fruit LLC; Smeltzer Orchard Company, LLCand among others.

In 2019,which region held the largest share of the global dried tart cherry market?

In 2019, Europe contributed to the largest share in the global dried tart cherry market. The growing industrialization and urbanization is one of the key factors that is boosting the dried tart cherry market. The increasing industrialization and urbanization increases the penetration of the dried tart cherry products in the retail as well as the industrial sector. Also, the consumer demand for healthy products without any compromise on taste is expected to propel the dried tart cherry market in the region.

Based on product type, why infused driedsegment accounted for the largest share in the global dried tart cherry market?

The infused dried tart cherries are considered as an ideal choice for bakery or snack applications. Nowadays, consumers are more inclined toward healthy eating habits, including the products with natural properties and high nutritional content. The tart cherries infused with sugar or other sweeteners are available on the market to meet the increasing demand of such health-conscious consumers, and many key players are developing the dried fruits infused with fruit juice. These products are healthy to consume as they contain no added sugars, with the presence of only fructose in the composition.

The List of Companies - Dried Tart Cherry Market

  1. Cherry Central
  2. CherryActive Australia
  3. Cherryvite Ltd
  4. EnkoMeyve Orman ÜrünleriSan.Tic.Ltd.
  5. Fruit d'Or
  6. Graceland Fruit, Inc.
  7. Payson Fruit Growers
  8. Royal Ridge Fruits
  9. Shoreline Fruit
  10. Smeltzer Orchard Company, LLC

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

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  • Validates and strengthens in-house secondary research findings
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Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

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Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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