World - Bananas - Market Analysis, Forecast, Size, Trends and Insights
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View PricingGlobal Banana Market 2024
Banana Market Size
In 2022, the global banana market increased by less than X% to $X, rising for the sixth year in a row after two years of decline. The market 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. The pace of growth was the most pronounced in 2017 with an increase of X%. Global consumption peaked in 2022 and is likely to see steady growth in years to come.
Banana Production
In value terms, banana production dropped modestly to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, global production attained the maximum level at $X in 2021, and then reduced modestly in the following year.
India (X tons) remains the largest banana producing country worldwide, accounting for X% of total volume. Moreover, banana production in India exceeded the figures recorded by the second-largest producer, China (X tons), threefold. Ecuador (X tons) ranked third in terms of total production with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of volume in India amounted to X%. In the other countries, the average annual rates were as follows: China (X% per year) and Ecuador (X% per year).
In 2022, the global average yield of bananas contracted slightly to X tons per ha, standing approx. at the previous year. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the yield increased by X% against the previous year. The global 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.
The global banana harvested area shrank slightly to X ha in 2022, remaining stable against 2021 figures. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The global harvested area peaked at X ha in 2013; however, from 2014 to 2022, the harvested area remained at a lower figure.
Banana Exports
Exports
In 2022, shipments abroad of bananas decreased by X% to X tons for the first time since 2015, thus ending a six-year rising trend. The total export volume 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 most prominent rate of growth was recorded in 2016 with an increase of X%. The global exports peaked at X tons in 2021, and then reduced in the following year.
In value terms, banana exports fell sharply to $X in 2022. The total export 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 in certain years. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, the global exports reached the peak figure at $X in 2021, and then fell dramatically in the following year.
Exports by Country
Ecuador was the major exporter of bananas in the world, with the volume of exports resulting at X tons, which was near X% of total exports in 2022. Guatemala (X tons) took the second position in the ranking, followed by Colombia (X tons), Costa Rica (X tons) and the Philippines (X tons). All these countries together held near X% share of total exports. The Netherlands (X tons), Belgium (X tons), the United States (X tons), Honduras (X tons), Mexico (X tons), Myanmar (X tons), Vietnam (X tons) and Cote d'Ivoire (X tons) took a little share of total exports.
From 2012 to 2022, average annual rates of growth with regard to banana exports from Ecuador stood at X%. At the same time, Vietnam (X%), Myanmar (X%), the Netherlands (X%), Mexico (X%), Cote d'Ivoire (X%), Colombia (X%), Guatemala (X%) and the United States (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2022. Costa Rica and Honduras experienced a relatively flat trend pattern. By contrast, Belgium (X%) and the Philippines (X%) illustrated a downward trend over the same period. While the share of the Netherlands (X p.p.), Ecuador (X p.p.), Vietnam (X p.p.) and Myanmar (X p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Costa Rica (X p.p.), Belgium (X p.p.) and the Philippines (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Ecuador ($X) remains the largest banana supplier worldwide, comprising X% of global exports. The second position in the ranking was taken by the Philippines ($X), with an X% share of global exports. It was followed by Costa Rica, with a X% share.
In Ecuador, banana exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the Philippines (X% per year) and Costa Rica (X% per year).
Export Prices by Country
The average banana export price stood at $X per ton in 2022, with a decrease of X% against the previous year. Over the period under review, the export price showed a slight slump. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($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 Mexico (X%), while the other global leaders experienced more modest paces of growth.
Banana Imports
Imports
After two years of growth, supplies from abroad of bananas decreased by X% to X tons in 2022. The total import 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 pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. Global imports peaked at X tons in 2021, and then dropped slightly in the following year.
In value terms, banana imports shrank slightly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Global imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.
Imports by Country
In 2022, the United States (X tons), distantly followed by China (X tons), Russia (X tons), the Netherlands (X tons), Germany (X tons) and Japan (X tons) represented the major importers of bananas, together constituting X% of total imports. Belgium (X tons), the UK (X tons), France (X tons), Italy (X tons), Canada (X tons), Argentina (X tons) and Poland (X tons) followed a long way behind the leaders.
The United States experienced a relatively flat trend pattern with regard to volume of imports of bananas. At the same time, Russia (X%), the Netherlands (X%), China (X%), Poland (X%), France (X%), Argentina (X%), Italy (X%) and Canada (X%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2022. Germany and Japan experienced a relatively flat trend pattern. By contrast, the UK (X%) and Belgium (X%) illustrated a downward trend over the same period. While the share of Russia (X p.p.), the Netherlands (X p.p.) and China (X p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Germany (X p.p.), Japan (X p.p.), the UK (X p.p.), Belgium (X p.p.) and the United States (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the United States ($X), China ($X) and the Netherlands ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of global imports. Germany, Japan, Russia, France, the UK, Belgium, Italy, Canada, Poland and Argentina lagged somewhat behind, together accounting for a further X%.
Russia, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.
Import Prices by Country
In 2022, the average banana import price amounted to $X per ton, with an increase of X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($X per ton), while Russia ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the other global leaders experienced more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the global banana market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 486 - Bananas
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Company coverage:
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
- HARVESTED AREA AND YIELD BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Harvested Area, By Country, 2012-2023
- Yield, By Country, 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Harvested Area, By Country, 2023
- Harvested Area, By Country, 2012-2023
- Yield, By Country, 2012-2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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