The Global Peach and Nectarines Market are esteemed to grow, witnessing a CAGR of 3.46% during the forecast period 2020-2025. According to the USDA report, the Asia Pacific holds a major share in the worldwide production of peaches and nectarines accounting for almost 70% in volume followed by Europe. Asian countries have well-drained fertile soil along with abundant sunshine and weather conditions making the production more feasible in the region. Africa alone contains 40% of the total import of peaches and nectarines with Egypt, Algeria, and South Africa taking the major share. Egypt estimates for 53% of the total import in Africa in terms of volume accounting for 29,000 tonnes in 2019. The increasing number of health-conscious and wellness-oriented consumers acts as the major growth engine for this market as peaches and nectarines are recognized as nutrient-rich fruits.
Key Market Trends
China is Leading the Market in Terms of Production
China is a peerless global leader in peaches and nectarines production, which is well advancing other producing countries. According to the United States Department of Agriculture, in 2018, almost 850 thousand hectares of the country’s land area is used for peaches and nectarines harvesting up from 828 thousand hectares in 2016 witnessing a growth of 2.6% in the arable land. Its production is projected to 1.5 million tons in 2019 in the Shandong province which is a record high crop volume for the country. China’s peach and nectarine production will continue to increase slowly as the crop harvesting area stabilizes. The primary production regions are Shandong, Hebei, Henan, Shanxi, Hubei, and Shaanxi provinces. However, the country’s poverty alleviation programs by the government may help expand peach and nectarine areas in less developed provinces like Yunnan, Anhui, and Guizhou. With improved farming technology (such as greenhouse facilities) and the development of new varieties in the country, the supply season of domestic peaches and nectarines has been extended to begin in early May and ends in late October, with the bulk of supplies entering the market in July and August.
Asia Pacific Dominates the Peaches and Nectarines Market
According to the Department of Agriculture, European Commission in the year 2018, Asia-Pacific held the major share of the Peaches and Nectarines Market. It grabs the bulk share of 70% of the total output of Peaches and Nectarines in overall volume. Countries like China, Iran, India, Korea, and Japan are leading in the production and consumption of Peaches and Nectarines within Asia-Pacific with China and Iran holding a share of 75%. With record production volume, China’s exports of peaches and nectarines are projected to reach nearly 60% of the worldwide Peaches and Nectarines export market according to the USDA report. According to the Chinese Society for Horticultural Science, China is now the world’s largest Peaches and Nectarine producer, both in terms of acreage and production. China exports peaches and nectarines mainly to Central Asian countries including Kazakhstan and Russia and Southeast Asian countries, typically Vietnam.
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