Global Banana Market Overview
In value terms, banana production declined slightly to $ in 2019 estimated in export prices. The total output value increased at an average annual rate of +% from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of % y-o-y. Global production peaked at $ in 2016; however, from 2017 to 2019, production stood at a somewhat lower figure.
India ( tonnes) remains the largest banana producing country worldwide, comprising approx. % 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.
From 2007 to 2019, the average annual rate of growth in terms of volume in India stood at +%. The remaining producing countries recorded the following average annual rates of production growth: China (+% per year) and Indonesia (+% per year).
In 2019, the global average banana yield totaled tonnes per ha, leveling off at the previous year. In general, the yield continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the yield increased by % against the previous year. As a result, the yield reached the peak level of 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, the total area harvested in terms of bananas production worldwide totaled ha, picking up by % against the year before. The harvested area increased at an average annual rate of +% over the period from 2007 to 2019; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of % against the previous year. Over the period under review, the harvested area dedicated to banana production attained the peak figure in 2019 and is likely to continue growth in the immediate term.
The global banana market revenue reduced modestly to $ in 2019, almost unchanged from 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 2019; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2014 with an increase of % y-o-y. As a result, consumption reached the peak level of $. From 2015 to 2019, the growth of the global market failed to regain the momentum.
From 2007 to 2019, the average annual rate of growth in terms of volume in India totaled +%. The remaining consuming countries recorded the following average annual rates of consumption growth: China (+% per year) and Indonesia (+% per year).
In value terms, the largest banana markets worldwide were India ($), China ($) and Indonesia ($), together accounting for % of the global market. These countries were followed by Angola, Tanzania, the U.S., Brazil, the Philippines, Viet Nam and Colombia, which together accounted for a further %.
In terms of the main consuming countries, Angola saw the highest growth rate of market size, over the period under review, while banana market for the other global leaders experienced more modest paces of growth.
In 2019, 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 Brazil ( kg per person), while the world average per capita consumption of banana was estimated at kg per person.
From 2007 to 2019, the average annual growth rate of the banana per capita consumption in Angola totaled +%. In the other countries, the average annual rates were as follows: Tanzania (-% per year) and Colombia (+% per year).