The import of fresh cherries to China has shown notable growth over the years. From 2013 to 2023, imports increased from 37.539 million kilograms to 223.74 million kilograms, reflecting a compounded annual growth rate (CAGR) of 26.14% over the decade. However, recent growth trends indicate a slowdown, with a CAGR of only 3.73% between 2018 and 2023.
Year-on-year variations reveal an 82.82% spike in 2018 followed by a decline in 2019, then a steady increase through to 2023. In 2023, the growth rate was 5.41%, continuing the pattern of moderate increases seen since 2021.
Future trends to watch for:
- The forecast for 2024-2028 suggests a slower but steady growth, with an estimated 5-year CAGR of 3.43%, resulting in a 18.34% rise in total volume.
- Potential market shifts driven by changes in trade policies, economic conditions, and consumer preferences.
- Sustainability concerns and innovations in agricultural practices impacting international cherry production and supply chains.
