Global Banana Market Overview

The global banana market revenue amounted to $ in 2018, going up by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% over the period from 2007 to 2018; the trend pattern remained consistent, with only minor fluctuations being observed over the period under review. The pace of growth appeared the most rapid in 2008 when the market value increased by % against the previous year. The global banana consumption peaked in 2018 and is likely to see steady growth in the immediate term.

In value terms, banana production totaled $ in 2018 estimated in export prices. The total output value increased at an average annual rate of +% over the period from 2007 to 2018; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2008 with an increase of % y-o-y. The global banana production peaked in 2018 and is expected to retain its growth in the near future.

India ( tonnes) remains the largest banana producing country worldwide, accounting for % of total volume. Moreover, banana production in India exceeded the figures recorded by the second-largest producer, China ( tonnes), threefold. Indonesia ( tonnes) ranked third in terms of total production with a % share.

In India, banana production increased at an average annual rate of +% over the period from 2007-2018. In the other countries, the average annual rates were as follows: China (+% per year) and Indonesia (+% per year).

Global average banana yield amounted to tonne per ha in 2018, jumping by % against the previous year. In general, the banana yield continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when yield increased by % against the previous year. In that year, the average banana yield attained its peak level of tonne per ha. From 2014 to 2018, the growth of the average banana yield failed to regain its momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2018, the global harvested area of bananas amounted to ha, approximately reflecting the previous year. The harvested area increased at an average annual rate of +% over the period from 2007 to 2018; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2017 when harvested area increased by % y-o-y. Over the period under review, the harvested area dedicated to banana production attained its maximum in 2018 and is expected to retain its growth in the in years to come.

In 2018, the global consumption of bananas amounted to tonnes, going up by % against the previous year. The total consumption volume increased at an average annual rate of +% from 2007 to 2018; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2008 with an increase of % year-to-year. The global banana consumption peaked in 2018 and is expected to retain its growth in the immediate term.

The global banana market revenue amounted to $ in 2018, increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% from 2007 to 2018; the trend pattern remained consistent, with somewhat noticeable fluctuations over the period under review. The pace of growth was the most pronounced in 2008 when the market value increased by % year-to-year. The global banana consumption peaked in 2018 and is expected to retain its growth in the near future.

The country with the largest volume of banana consumption was India ( tonnes), comprising approx. % of total volume. Moreover, banana consumption in India exceeded the figures recorded by the second-largest consumer, China ( tonnes), twofold. The third position in this ranking was occupied by Indonesia ( tonnes), with a % share.

From 2007 to 2018, the average annual growth rate of volume in India stood at +%. In the other countries, the average annual rates were as follows: China (+% per year) and Indonesia (+% per year).

In value terms, India ($), China ($) and Indonesia ($) were the countries with the highest levels of market value in 2018, with a combined % share of the global market. Angola, Tanzania, the Philippines, Brazil, the U.S., Viet Nam and Colombia lagged somewhat behind, together comprising a further %.

Angola recorded the highest growth rate of market size, in terms of the main consuming countries over the period under review, while banana market for the other global leaders experienced more modest paces of growth.

In 2018, the highest levels of banana per capita consumption was registered in Angola ( kg per person), followed by Tanzania ( kg per person), Colombia ( kg per person) and the Philippines ( kg per person), while the world average per capita consumption of banana was estimated at kg per person.

From 2007 to 2018, the average annual rate of growth in terms of the banana per capita consumption in Angola stood at +%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Tanzania (-% per year) and Colombia (+% per year).

Driven by increasing demand for banana worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from 2018 to , which is projected to bring the market volume to tonnes by the end of .