U.S.: Banana Market 2024

Banana Market Size in the U.S.

In 2022, the U.S. banana market increased by X% to $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Banana Production in the U.S.

In value terms, banana production totaled $X in 2022. Overall, production, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

The average yield of bananas in the United States rose to X tons per ha in 2022, increasing by X% on the previous year. Overall, the yield, however, continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The banana yield peaked at X tons per ha in 2014; however, from 2015 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of bananas production in the United States stood at X ha, approximately reflecting the previous year. Over the period under review, the harvested area, however, showed a noticeable curtailment. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The banana harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

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Banana Exports

Exports from the U.S.

For the third consecutive year, the United States recorded decline in shipments abroad of bananas, which decreased by X% to X tons in 2022. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, banana exports expanded notably to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Canada (X tons) was the main destination for banana exports from the United States, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Canada totaled X%.

In value terms, Canada ($X) also remains the key foreign market for bananas exports from the United States.

From 2012 to 2022, the average annual growth rate of value to Canada totaled X%.

Export Prices by Country

In 2022, the average banana export price amounted to $X per ton, growing by X% against the previous year. In general, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Canada.

From 2012 to 2022, the rate of growth in terms of prices for Canada amounted to X% per year.

Banana Imports

Imports into the U.S.

For the fifth consecutive year, the United States recorded decline in supplies from abroad of bananas, which decreased by X% to X tons in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, banana imports expanded modestly to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Guatemala (X tons) constituted the largest banana supplier to the United States, with a X% share of total imports. Moreover, banana imports from Guatemala exceeded the figures recorded by the second-largest supplier, Costa Rica (X tons), threefold. Ecuador (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Guatemala stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Costa Rica (X% per year) and Ecuador (X% per year).

In value terms, Guatemala ($X) constituted the largest supplier of bananas to the United States, comprising X% of total imports. The second position in the ranking was taken by Costa Rica ($X), with a X% share of total imports. It was followed by Ecuador, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Guatemala stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Costa Rica (X% per year) and Ecuador (X% per year).

Import Prices by Country

In 2022, the average banana import price amounted to $X per ton, growing by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Colombia ($X per ton) and Costa Rica ($X per ton), while the price for Ecuador ($X per ton) and Guatemala ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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