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World - Bananas - Market Analysis, Forecast, Size, Trends and Insights
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Global Banana Market Overview 2020

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Banana Market Size

In 2019, the global banana market decreased by -X% to $X, falling for the fifth consecutive year after four years of growth. The market value increased at an average annual rate of +X% over the period from 2007 to 2019; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the market value increased by X% y-o-y. As a result, consumption reached the peak level of $X. From 2015 to 2019, the growth of the global market remained at a somewhat lower figure.

Banana Production

In value terms, banana production shrank slightly to $X in 2019 estimated in export prices. The total output value increased at an average annual rate of +X% over the period from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% year-to-year. As a result, production attained the peak level of $X. From 2015 to 2019, global production growth remained at a lower figure.

The country with the largest volume of banana production was India (X tonnes), accounting for X% of total volume. Moreover, banana 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 Indonesia (X tonnes), with a X% share.

In India, banana production expanded at an average annual rate of +X% over the period from 2007-2019. In the other countries, the average annual rates were as follows: China (+X% per year) and Indonesia (+X% per year).

The global average banana yield reached X tonnes per ha in 2019, standing approx. at 2018. Over the period under review, the yield showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the yield increased by X% against the previous year. As a result, the yield reached the peak level of X tonnes per ha. From 2014 to 2019, the growth of the average banana yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2019, approx. X ha of bananas were harvested worldwide; growing by X% compared with the previous year. The harvested area increased at an average annual rate of +X% from 2007 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2017 with an increase of X% year-to-year. The global harvested area peaked in 2019 and is expected to retain growth in years to come.

Production By Country

India (X tonnes) 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 tonnes), threefold. The third position in this ranking was occupied by Indonesia (X tonnes), with a X% share.

In India, banana production expanded at an average annual rate of +X% over the period from 2007-2019. The remaining producing countries recorded the following average annual rates of production growth: China (+X% per year) and Indonesia (+X% per year).

Banana Exports

Exports

Global banana exports expanded sharply to X tonnes in 2019, picking up by X% compared with 2018 figures. The total export volume increased at an average annual rate of +X% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Global exports peaked in 2019 and are expected to retain growth in years to come.

In value terms, banana exports reduced modestly to $X in 2019. The total export value increased at an average annual rate of +X% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2008 when exports increased by X% y-o-y. Global exports peaked at $X in 2018, and then contracted slightly in the following year.

Exports by Country

In 2019, Ecuador (X tonnes), distantly followed by Guatemala (X tonnes), Costa Rica (X tonnes), the Philippines (X tonnes) and Colombia (X tonnes) were the major exporters of bananas, together making up X% of total exports. Belgium (X tonnes), the Netherlands (X tonnes), Mexico (X tonnes), Lao People's Democratic Republic (X tonnes), the U.S. (X tonnes), Honduras (X tonnes) and Cote d'Ivoire (X tonnes) followed a long way behind the leaders.

From 2007 to 2019, average annual rates of growth with regard to banana exports from Ecuador stood at +X%. At the same time, Lao People's Democratic Republic (+X%), Mexico (+X%), the Netherlands (+X%), Guatemala (+X%), Cote d'Ivoire (+X%), the U.S. (+X%), the Philippines (+X%) and Costa Rica (+X%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing exporter exported in the world, with a CAGR of +X% from 2007-2019. Honduras and Colombia experienced a relatively flat trend pattern. By contrast, Belgium (-X%) illustrated a downward trend over the same period. From 2007 to 2019, the share of Guatemala, Ecuador, Mexico, Lao People's Democratic Republic, the Philippines and the Netherlands increased by +X%, +X%, +X%, +X%, +X% and +X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ecuador ($X) remains the largest banana supplier worldwide, comprising X% of global exports. The second position in the ranking was occupied by the Philippines ($X), with a X% share of global exports. It was followed by Costa Rica, with a X% share.

In Ecuador, banana exports expanded at an average annual rate of +X% over the period from 2007-2019. 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 tonne in 2019, waning by -X% against the previous year. Over the period from 2007 to 2019, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2008 when the average export price increased by X% year-to-year. Global export price peaked at $X per tonne in 2017; however, from 2018 to 2019, export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was the Netherlands ($X per tonne), while Lao People's Democratic Republic ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Colombia, while the other global leaders experienced more modest paces of growth.

Banana Imports

Imports

In 2019, approx. X tonnes of bananas were imported worldwide; picking up by X% compared with the previous year. The total import volume increased at an average annual rate of +X% from 2007 to 2019; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of X% year-to-year. Over the period under review, global imports hit record highs in 2019 and are expected to retain growth in the immediate term.

In value terms, banana imports expanded modestly to $X in 2019. The total import value increased at an average annual rate of +X% over the period from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, global imports hit record highs in 2019 and are expected to retain growth in the near future.

Imports by Country

In 2019, the U.S. (X tonnes), distantly followed by China (X tonnes), Russia (X tonnes), Germany (X tonnes), Belgium (X tonnes), the UK (X tonnes) and Japan (X tonnes) represented the largest importers of bananas, together constituting X% of total imports. The following importers - France (X tonnes), Italy (X tonnes), the Netherlands (X tonnes), Canada (X tonnes) and Poland (X tonnes) - together made up X% of total imports.

From 2007 to 2019, average annual rates of growth with regard to banana imports into the U.S. stood at +X%. At the same time, China (+X%), the Netherlands (+X%), Poland (+X%), Russia (+X%), France (+X%) and Canada (+X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in the world, with a CAGR of +X% from 2007-2019. Italy, Japan, the UK, Belgium and Germany experienced a relatively flat trend pattern. China (+X p.p.), the U.S. (+X p.p.), Russia (+X p.p.) and the Netherlands (+X p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

In the U.S., banana imports expanded at an average annual rate of +X% over the period from 2007-2019. In the other countries, the average annual rates were as follows: Russia (+X% per year) and Belgium (-X% per year).

Import Prices by Country

In 2019, the average banana import price amounted to $X per tonne, with an increase of X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 an increase of X% y-o-y. Global import price peaked in 2019 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2019, the country with the highest price was Belgium ($X per tonne), while China ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Japan, while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for bananas in the world?
+
India (31M tonnes) remains the largest banana consuming country worldwide, comprising approx. 27% of total volume. Moreover, banana consumption in India exceeded the figures recorded by the second-largest consumer, China (13M tonnes), twofold. Indonesia (7.4M tonnes) ranked third in terms of total consumption with a 6.3% share.
What are the largest producers of bananas in the world?
+
India (32M tonnes) constituted the country with the largest volume of banana production, accounting for 26% of total volume. Moreover, banana production in India exceeded the figures recorded by the second-largest producer, China (12M tonnes), threefold. The third position in this ranking was occupied by Indonesia (7.5M tonnes), with a 6.2% share.
What are the leading exporters of bananas in the world?
+
In value terms, Ecuador ($4.3B) remains the largest banana supplier worldwide, comprising 27% of global exports. The second position in the ranking was occupied by the Philippines ($2B), with a 13% share of global exports. It was followed by Costa Rica, with a 12% share.
What are the leading importers of bananas in the world?
+
In value terms, the U.S. ($2.8B) constitutes the largest market for imported bananas worldwide, comprising 18% of global imports. The second position in the ranking was occupied by Russia ($1.2B), with a 8.2% share of global imports. It was followed by Belgium, with a 7.2% share.
What is the average export price for bananas in the world?
+
In 2019, the average banana export price amounted to $635 per tonne, shrinking by -5.9% against the previous year.
What is the average import price for bananas in the world?
+
In 2019, the average banana import price amounted to $649 per tonne, increasing by 1.9% against the previous year.

Product coverage:
• FCL 486 - Bananas

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 2025.



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

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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
COUNTRIES WITH TOP YIELDS
5.4
TOP EXPORTING COUNTRIES
5.5
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
7.3
HARVESTED AREA AND YIELD BY COUNTRY
8. GLOBAL IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2007–2019
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2007–2019
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

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
LIST OF TABLES
Table 1:
Key Findings In 2019
Table 2:
Market Volume, In Physical Terms, 2007–2019
Table 3:
Market Value, 2007–2019
Table 4:
Per Capita Consumption, By Country, 2015–2019
Table 5:
Production, In Physical Terms, By Country, 2007–2019
Table 6:
Harvested Area, By Country, 2007–2019
Table 7:
Yield, By Country, 2007–2019
Table 8:
Imports, In Physical Terms, By Country, 2007–2019
Table 9:
Imports, In Value Terms, By Country, 2007–2019
Table 10:
Import Prices, By Country Of Destination, 2007–2019
Table 11:
Exports, In Physical Terms, By Country, 2007–2019
Table 12:
Exports, In Value Terms, By Country, 2007–2019
Table 13:
Export Prices, By Country Of Origin, 2007–2019
Table 14:
Producer Prices, By Major Producing Country, 2019
Table 15:
Producer Prices Index - Annual Data (2004-2006=100), By Major Producing Country
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2019
Figure 2:
Market Value, 2007–2019
Figure 3:
Consumption, By Country, 2019
Figure 4:
Market Forecast To 2025
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Yield And Growth
Figure 11:
Exports And Growth
Figure 12:
Export Prices And Growth
Figure 13:
Market Size And Growth
Figure 14:
Per Capita Consumption
Figure 15:
Imports And Growth
Figure 16:
Import Prices
Figure 17:
Production, In Physical Terms, 2007–2019
Figure 18:
Production, In Value Terms, 2007–2019
Figure 19:
Area Harvested, 2007–2019
Figure 20:
Yield, 2007–2019
Figure 21:
Production, By Country, 2019
Figure 22:
Production, In Physical Terms, By Country, 2007–2019
Figure 23:
Harvested Area, By Country, 2019
Figure 24:
Harvested Area, By Country, 2007–2019
Figure 25:
Yield, By Country, 2007–2019
Figure 26:
Imports, In Physical Terms, 2007–2019
Figure 27:
Imports, In Value Terms, 2007–2019
Figure 28:
Imports, In Physical Terms, By Country, 2019
Figure 29:
Imports, In Physical Terms, By Country, 2007–2019
Figure 30:
Imports, In Value Terms, By Country, 2007–2019
Figure 31:
Import Prices, By Country, 2007–2019
Figure 32:
Exports, In Physical Terms, 2007–2019
Figure 33:
Exports, In Value Terms, 2007–2019
Figure 34:
Exports, In Physical Terms, By Country, 2019
Figure 35:
Exports, In Physical Terms, By Country, 2007–2019
Figure 36:
Exports, In Value Terms, By Country, 2007–2019
Figure 37:
Export Prices, 2007–2019

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