Peaches and Nectarines Market – 76% of Growth to Originate from APAC | Offline Segment to be significant for Revenue Generation | Technavio – QNT Press Release

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NEW YORK, April 13, 2022 /PRNewswire/ — The peaches and nectarines market size is expected to grow by USD 798.66 million from 2021 to 2026, progressing at a CAGR of 3.6% as per the latest market research report by Technavio. 76% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the peaches and nectarines market in APAC. Market growth in this region will be faster than the growth of the market in other regions. The improved farming technologies will facilitate the peaches and nectarines market growth in APAC over the forecast period.

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Peaches And Nectarines Market: Segmentation Analysis

This market research report segments the peaches and nectarines market by Distribution Channel (Offline and Online) and Geography (APAC, Europe, North America, South Americaand the Middle East and Africa).

The peaches and nectarines market share growth by the offline segment will be significant for revenue generation. The offline segment has captured the highest market share in the global peaches and nectarines market in 2021. This is attributed to the buying behavior of the consumer, who want to check the freshness of the stone fruits before buying. Furthermore, brick-and-mortar shops with deep freezers and chest freezers are able to cater to the demand for frozen fruits. Moreover, in the last decades, it has become easier for shippers to deliver products to purchasers thousands of miles away with no substantial loss in freshness owing to temperature-controlled logistics. Thus, such technological advancements in controlled atmosphere technologies have played a key role in extending the shelf life. These factors are driving the segment growth.

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Peaches and Nectarines Market: Rising production and consumption of peaches and nectarines in the European market to drive growth

The rising production and consumption of peaches and nectarines in the European market are the key drivers supporting the peaches and nectarines market growth. For instance, in 2021, the annual growth rate of peach and nectarine per capita consumption in Greece increased by 15.2%. The remaining major peach and nectarine-consuming countries in Europe recorded the average annual rates of per capita consumption growth such as Italy (-6.6% per year) and Spain (-4.3% per year). The countries with the highest volumes of peach and nectarine production in 2021 were Spain, Italyand Greecewhich together accounted for 92% of total production. Thus, these trends in regional consumption, imports, and exports will further drive market growth during the forecast period.

Peaches and Nectarines Market: Rising imports and export of peaches and nectarines are the major trends

Rising imports and export of peaches and nectarines is one of the key peaches and nectarines market trends that is contributing to the market growth. For instance, Australia’s export of peaches and nectarines, led by the State of Victoriagrew by 50% between 2017 and 2018 and reached $50 million. The middle eastern region accounts for just under 1% share of national exports. Peaches from Turkey and Iran are exported at a slightly higher price than the national average, while nectarines are sold at a price that is almost two-thirds that of the national average. Moreover, China is the major destination for Australian peach and nectarine exports, while Singapore is the major importer of middle eastern products. Thus, the rising import and export of peaches and nectarines are further driving market growth.

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