Asia: Banana Market 2024

Banana Market Size in Asia

After two years of growth, the Asian banana market decreased by X% to $X in 2022. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2021, and then contracted modestly in the following year.

Banana Production in Asia

In value terms, banana production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of banana production was India (X tons), comprising approx. X% of total volume. Moreover, banana production in India exceeded the figures recorded by the second-largest producer, China (X tons), threefold. Indonesia (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2022, the average annual growth rate of volume in India amounted to X%. In the other countries, the average annual rates were as follows: China (X% per year) and Indonesia (X% per year).

In 2022, the average banana yield in Asia fell modestly to X tons per ha, leveling off at 2021. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 when the yield increased by X% against the previous year. The level of yield peaked at X tons per ha in 2021, and then declined modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of bananas were harvested in Asia; standing approx. at the previous year. Overall, the harvested area saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to banana production attained the maximum at X ha in 2012; afterwards, it flattened through to 2022.

Banana Exports

Exports in Asia

In 2022, approx. X tons of bananas were exported in Asia; waning by X% on 2021 figures. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then fell in the following year.

In value terms, banana exports contracted rapidly to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

The Philippines was the main exporting country with an export of around X tons, which amounted to X% of total exports. Myanmar (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (X%), India (X%) and Cambodia (X%). The following exporters - Lao People's Democratic Republic (X tons) and Pakistan (X tons) - each amounted to a X% share of total exports.

Exports from the Philippines decreased at an average annual rate of X% from 2012 to 2022. At the same time, Vietnam (X%), Cambodia (X%), Lao People's Democratic Republic (X%), India (X%), Myanmar (X%) and Pakistan (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. Vietnam (X p.p.), Myanmar (X p.p.), India (X p.p.), Cambodia (X p.p.), Lao People's Democratic Republic (X p.p.) and Pakistan (X p.p.) significantly strengthened its position in terms of the total exports, while the Philippines saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the Philippines ($X) remains the largest banana supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by Cambodia, with a X% share.

In the Philippines, banana exports decreased by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (X% per year) and Cambodia (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, declining by X% against the previous year. In general, the export price showed a slight decline. The most prominent rate of growth was recorded in 2016 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced mixed trends in the export price figures.

Banana Imports

Imports in Asia

In 2022, approx. X tons of bananas were imported in Asia; waning by X% against the previous year's figure. Total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2017 indices. The pace of growth appeared the most rapid in 2017 when imports increased by X%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, banana imports amounted to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China represented the major importing country with an import of around X tons, which resulted at X% of total imports. Japan (X tons) ranks second in terms of the total imports with a X% share, followed by South Korea (X%), Iraq (X%) and Iran (X%). The United Arab Emirates (X tons), Uzbekistan (X tons), Kazakhstan (X tons) and Afghanistan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest banana importing markets in Asia were China ($X), Japan ($X) and South Korea ($X), with a combined X% share of total imports. The United Arab Emirates, Iran, Iraq, Uzbekistan, Kazakhstan and Afghanistan lagged somewhat behind, together comprising a further X%.

The United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the import price increased by X%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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