The import of fresh cherries to Thailand has shown a consistent upward trend from 2013 to 2023, with an increase from $6.4434 million in 2013 to $20.221 million in 2023. After a significant rise in earlier years, the year-on-year growth has stabilized. The most recent years have shown moderate growth rates: 4.77% in 2022 and 4.46% in 2023. Over the past five years, from 2018 to 2023, the compound annual growth rate (CAGR) averaged 4.58%.
The forecast from 2024 to 2028 suggests this gradual growth will continue, with the market expected to reach $24.286 million by 2028. The projected CAGR for the next five years is 2.88%, indicating a steady but slowing growth trajectory.
Future trends to watch for:
- Changes in consumer preferences and demand for fresh cherries.
- Impact of trade policies and tariffs on cherry imports.
- Economic conditions in Thailand influencing disposable income and spending on imported fruits.
- Climate conditions affecting cherry production in exporting countries.
