Global Banana And Plantain Market Overview 2021

Banana And Plantain Market Size

In 2020, the global banana and plantain market increased by X% to $X, rising for the fourth year in a row after two years of decline. The market value increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X% year-to-year. Over the period under review, the global market attained the maximum level in 2020 and is expected to retain growth in years to come.

Banana And Plantain Production

In value terms, banana and plantain production totaled $X in 2020 estimated in export prices. The total output value increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Global production peaked in 2020 and is likely to continue growth in the near future.

India (X tonnes) remains the largest banana and plantain producing country worldwide, accounting for X% of total volume. Moreover, banana and plantain production in India exceeded the figures recorded by the second-largest producer, China (X tonnes), threefold. The third position in this ranking was occupied by the Philippines (X tonnes), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume in India stood at +X%. In the other countries, the average annual rates were as follows: China (+X% per year) and the Philippines (-X% per year).

The global average banana and plantain yield totaled X tonnes per ha in 2020, standing approx. at the previous year. The yield figure increased at an average annual rate of +X% from 2007 to 2020; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the yield increased by X% y-o-y. The global yield peaked in 2020 and is expected to retain growth in the immediate term. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The global banana and plantain harvested area rose slightly to X ha in 2020, picking up by X% compared with 2019. In general, the harvested area continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. Over the period under review, the harvested area dedicated to banana and plantain production reached the peak figure at X ha in 2015; however, from 2016 to 2020, the harvested area failed to regain the momentum.

Production By Country

India (X tonnes) constituted the country with the largest volume of banana and plantain production, accounting for X% of total volume. Moreover, banana and plantain production in India exceeded the figures recorded by the second-largest producer, China (X tonnes), threefold. The Philippines (X tonnes) ranked third in terms of total production with a X% share.

In India, banana and plantain production increased at an average annual rate of +X% over the period from 2007-2020. The remaining producing countries recorded the following average annual rates of production growth: China (+X% per year) and the Philippines (-X% per year).

Banana And Plantain Exports

Exports

In 2020, after two years of growth, there was significant decline in shipments abroad of bananas and plantains, when their volume decreased by -X% to X tonnes. The total export volume increased at an average annual rate of +X% over the period from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Global exports peaked at X tonnes in 2019, and then contracted in the following year.

In value terms, banana and plantain exports dropped markedly to $X in 2020. The total export value increased at an average annual rate of +X% over the period from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2008 with an increase of X% against the previous year. Global exports peaked at $X in 2019, and then dropped notably in the following year.

Exports by Country

In 2020, Ecuador (X tonnes), distantly followed by Guatemala (X tonnes), Costa Rica (X tonnes), Colombia (X tonnes), the Philippines (X tonnes) and Myanmar (X tonnes) were the main exporters of bananas and plantains, together committing X% of total exports. The following exporters - the Netherlands (X tonnes), the U.S. (X tonnes), Honduras (X tonnes), Mexico (X tonnes), Panama (X tonnes), Cote d'Ivoire (X tonnes) and the Dominican Republic (X tonnes) - together made up X% of total exports.

From 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Myanmar, while exports for the other global leaders experienced more modest paces of growth.

In value terms, the largest banana and plantain supplying countries worldwide were Ecuador ($X), Costa Rica ($X) and the Philippines ($X), with a combined X% share of global exports. Colombia, Guatemala, the Netherlands, the U.S., Panama, Myanmar, the Dominican Republic, Cote d'Ivoire, Honduras and Mexico lagged somewhat behind, together accounting for a further X recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average banana and plantain export price stood at $X per tonne in 2020, dropping by -X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2008 an increase of X% year-to-year. Global export price peaked at $X per tonne in 2014; however, from 2015 to 2020, export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2020, the country with the highest price was Panama ($X per tonne), while Myanmar ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by the Dominican Republic, while the other global leaders experienced more modest paces of growth.

Banana And Plantain Imports

Imports

In 2020, after seven years of growth, there was decline in overseas purchases of bananas and plantains, when their volume decreased by -X% to X tonnes. The total import volume increased at an average annual rate of +X% from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, global imports hit record highs at X tonnes in 2019, and then dropped slightly in the following year.

In value terms, banana and plantain imports expanded slightly to $X in 2020. The total import value increased at an average annual rate of +X% over the period from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2011 when imports increased by X% against the previous year. Global imports peaked in 2020 and are likely to continue growth in the near future.

Imports by Country

In 2020, the U.S. (X tonnes), distantly followed by China (X tonnes), Russia (X tonnes), Germany (X tonnes), Japan (X tonnes), the UK (X tonnes) and the Netherlands (X tonnes) were the major importers of bananas and plantains, together mixing up X% of total imports. The following importers - Italy (X tonnes), France (X tonnes), Canada (X tonnes), Poland (X tonnes), Argentina (X tonnes) and Belgium (X tonnes) - together made up X% of total imports.

From 2007 to 2020, average annual rates of growth with regard to banana and plantain imports into the U.S. stood at +X%. At the same time, China (+X%), the Netherlands (+X%), Poland (+X%), Argentina (+X%), Russia (+X%), France (+X%), Canada (+X%) and Italy (+X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in the world, with a CAGR of +X% from 2007-2020. Japan, the UK and Germany experienced a relatively flat trend pattern. By contrast, Belgium (-X%) illustrated a downward trend over the same period. China (+X p.p.) and the Netherlands (+X p.p.) significantly strengthened its position in terms of the global imports, while the U.S., Germany and Belgium saw its share reduced by -X%, -X% and -X% from 2007 to 2020, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) constitutes the largest market for imported bananas and plantains worldwide, comprising X% of global imports. The second position in the ranking was occupied by Russia ($X), with a X% share of global imports. It was followed by Japan, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value in the U.S. stood at +X%. In the other countries, the average annual rates were as follows: Russia (+X% per year) and Japan (+X% per year).

Import Prices by Country

The average banana and plantain import price stood at $X per tonne in 2020, increasing by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2008 an increase of X% year-to-year. Over the period under review, average import prices hit record highs at $X per tonne in 2013; however, from 2014 to 2020, import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major importing countries. In 2020, the country with the highest price was Belgium ($X per tonne), while Argentina ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Argentina, while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for bananas and plantains in the world?

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The country with the largest volume of banana and plantain consumption was India (31M tonnes), accounting for 19% of total volume. Moreover, banana and plantain consumption in India exceeded the figures recorded by the second-largest consumer, China (14M tonnes), twofold. Indonesia (7.4M tonnes) ranked third in terms of total consumption with a 4.5% share.

What are the largest producers of bananas and plantains in the world?

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India (31M tonnes) constituted the country with the largest volume of banana and plantain production, comprising approx. 19% of total volume. Moreover, banana and plantain production in India exceeded the figures recorded by the second-largest producer, China (12M tonnes), threefold. The Philippines (9M tonnes) ranked third in terms of total production with a 5.5% share.

What are the leading exporters of bananas and plantains in the world?

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In value terms, the largest banana and plantain supplying countries worldwide were Ecuador ($2.9B), Costa Rica ($1.8B) and the Philippines ($1.5B), with a combined 44% share of global exports. Colombia, Guatemala, the Netherlands, the U.S., Panama, Myanmar, the Dominican Republic, Cote d'Ivoire, Honduras and Mexico lagged somewhat behind, together comprising a further 39%.

What are the leading importers of bananas and plantains in the world?

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In value terms, the U.S. ($2.8B) constitutes the largest market for imported bananas and plantains worldwide, comprising 19% of global imports. The second position in the ranking was occupied by Russia ($1.2B), with a 7.9% share of global imports. It was followed by Japan, with a 6.6% share.

What is the average export price for bananas and plantains in the world?

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In 2020, the average banana and plantain export price amounted to $629 per tonne, waning by -4.8% against the previous year.

What is the average import price for bananas and plantains in the world?

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The average banana and plantain import price stood at $656 per tonne in 2020, with an increase of 4.1% against the previous year.