Stone Fruit Market Report 2024

This Stone Fruit market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The stone fruit market size has grown steadily in recent years. It will grow from $13.85 billion in 2023 to $14.45 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The growth observed during the historical period can be attributed to several factors, including the rise of urban farming initiatives, a growing adoption of sustainable agricultural practices, the expansion of organic farming, the increase in online grocery shopping, and a boost in the import and export of peaches.

The stone fruit market size is expected to see steady growth in the next few years. It will grow to $17.37 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The anticipated growth during the forecast period can be linked to the increasing popularity of fruit-based snacks, rising disposable incomes, growing consumer awareness of health benefits, the rising use of stone fruits in smoothies, and their expanding culinary application in desserts. Key trends expected in this period include technological advancements, the popularity of stone fruit-based smoothies, ready-to-eat stone fruit snacks, the adoption of plant-based diets, and the development of fruit-based desserts.

The growth of the stone fruit market is expected to be driven by the increasing import and export of peaches and nectarines. These fruits belong to the Prunus persica species, peaches are characterized by their fuzzy skin, while nectarines have smooth skin. Despite this difference, both varieties share sweet and juicy flesh. The rise in the import and export of these fruits is fueled by a growing global demand for fresh and healthy produce, variations in seasonal availability, and the expansion of international trade agreements that improve market access. Stone fruit plays a key role in supporting the import and export of peaches and nectarines, offering a diverse range of products that cater to consumer preferences and ensure a steady supply across different markets. For example, a report from the USDA Foreign Agricultural Service in September 2024 projected that peach exports would rise by 30%, reaching 60,000 tons, as improved exportable supplies allow shipments to Canada, Mexico, and Taiwan to exceed the levels seen in 2022/23. Thus, the rising import and export of peaches and nectarines significantly contributes to the growth of the stone fruit market.

Leading companies in the stone fruit market are concentrating on developing innovative products, such as stone fruit-flavored alcoholic beverages, to appeal to consumers looking for unique and flavorful drink options. These beverages are infused with the flavors of stone fruits such as peaches, plums, cherries, and apricots, each containing a hard pit or stone at their center. For instance, in September 2023, Sly Dog Rum, a UK-based producer of premium spiced and flavored rums, introduced Sly Dog Stoned Fruit rum. This product features a base of three-year-aged golden rum infused with ripe stone fruits such as peach, papaya, and apricot. The flavor is further enhanced by the addition of pink peppercorn and other secret ingredients, creating a delightful blend of sweet and tart notes. This unique combination sets it apart from other rums in the market.

In July 2022, N&A Group, an Australia-based fresh produce grower, acquired Sunland Fresh Fruit for an undisclosed amount. This acquisition aims to bolster N&A Group’s long-term strategy by improving sustainability, fostering innovation, and enhancing supply chain efficiency. It also strengthens both domestic and export sales channels while expanding the company’s premium fruit varieties and production capabilities. Sunland Fresh Fruit is known for producing premium stone fruits, as well as apples, pears, and persimmons in Australia.

Major companies operating in the stone fruit market are Stemilt Growers LLC, Gargiulo Produce LLC, Giumarra Companies LLC, Kingsburg Orchards LLC, Freshmax Group Pty Ltd., Homegrown Organic Farms LLC, Moonlight Companies LLC, HMC Farms LLC, Sage Fruit Company LLC, Family Tree Farms Marketing LLC, HORTGRO Pty Ltd, Symms Fruit Ranch Inc., Sun World International LLC, Brandt Farms LLC, Dulcinea Farms LLC, ABC Fruits LLC, Trinity Fruit Company Inc., Lemonconcentrate S.L.U., Fruit World Co. LLC, Plus Berries LLC, Sigona's Office Deliveries LLC, Titan Farms Private Limited.

Asia-Pacific was the largest region in the stone fruit market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the stone fruit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the stone fruit market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Stone fruit refers to a category of fruit that contains a large, hard seed or "stone" (also known as a pit) at its core, surrounded by juicy flesh. These fruits are generally known for their sweet or tart flavor, juicy texture, and thin skin. Stone fruits are classified as drupes and are commonly consumed fresh, utilized in cooking, or processed into preserves and desserts.

The primary types of stone fruits include peaches, nectarines, plums, cherries, mangoes, and others. Peaches are a specific variety of stone fruit characterized by their smooth or fuzzy skin and sweet, juicy flesh. They are often eaten fresh or used in culinary applications such as cooking and baking. Peaches can be distributed through various channels, including supermarkets, hypermarkets, retail stores, and online platforms. They are processed into products such as juice concentrates, ready-to-drink juices, nectars, wines, and jams. Various end users benefit from peaches, including bakeries, confectionery businesses, food processing companies, hotels, restaurants, and cosmetics manufacturers.

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The stone fruit market consists of sales of canned stone fruit, fruit snacks, fruit purees and frozen stone fruit. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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