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Business Research Company released a report showing that the stone fruit market is projected to grow from $13.85 billion in 2023 to $14.45 billion in 2024 at a 4.4% CAGR.
By 2028, the stone fruit market is projected to reach $17.37 billion at a CAGR of 4.7%.
The main drivers are urban farming initiatives, the adoption of sustainable practices, growth in organic farming, online grocery shopping, and the increasing trade of peaches.
Trends include "advancements in technology, stone fruit-based smoothies, ready-to-eat snacks, plant-based diets, and fruit-based desserts."
The rise in peach and nectarine imports and exports is driven by global demand for fresh produce, seasonal availability differences, and expanded international trade agreements that increase market accessibility.
Asia-Pacific was the largest region in the stone fruit market in 2023. Europe, according to the report, is expected to be the fastest-growing region in the forecast period.
Major markets contributing to the growth 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.
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