Market Trends of Peaches and Nectarines Industry
This section covers the major market trends shaping the Peaches & Nectarines Market according to our research experts:
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.
