Global Banana and Plantain Market Overview

The global banana and plantain market amounted to $ in 2019, with an increase of % 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 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 market value increased by % y-o-y. Over the period under review, the global market attained the peak level in 2019 and is expected to retain growth in years to come.

In value terms, banana and plantain production rose to $ in 2019 estimated in export prices. The total output value increased at an average annual rate of +% over the period from 2007 to 2019; 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 % y-o-y. Global production peaked in 2019 and is likely to see steady growth in the immediate term.

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

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

The global average banana and plantain yield declined modestly to tonnes per ha in 2019, flattening at the previous year's figure. Over the period under review, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of % y-o-y. As a result, the yield attained the peak level of tonnes per ha. From 2014 to 2019, the growth of the average banana and plantain 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. ha of bananas and plantains were harvested worldwide; with an increase of % against 2018. The harvested area increased at an average annual rate of +% over the period from 2007 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2010 with an increase of % against the previous year. The global harvested area peaked in 2019 and is expected to retain growth in years to come.

Global banana and plantain consumption expanded modestly to tonnes in 2019, growing by % against the previous year's figure. The total consumption volume increased at an average annual rate of +% over the period from 2007 to 2019; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2010 with an increase of % against the previous year. Over the period under review, global consumption attained the maximum volume in 2019 and is expected to retain growth in years to come.

The global banana and plantain market revenue rose to $ in 2019, picking 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 +% from 2007 to 2019; 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 % against the previous year. Over the period under review, the global market attained the peak level in 2019 and is expected to retain growth in the near future.

India ( tonnes) remains the largest banana and plantain consuming country worldwide, comprising approx. % of total volume. Moreover, banana and plantain 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 2019, the average annual rate of growth in terms of volume in India amounted to +%. In the other countries, the average annual rates were as follows: China (+% per year) and Indonesia (+% per year).

In value terms, the largest banana and plantain markets worldwide were India ($), China ($) and Democratic Republic of the Congo ($), together comprising % of the global market.

Democratic Republic of the Congo saw the highest rates of growth with regard to market size, in terms of the main consuming countries over the period under review, while banana and plantain market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of banana and plantain per capita consumption in 2019 were Cameroon ( kg per person), Ghana ( kg per person) and Angola ( kg per person).

From 2007 to 2019, the biggest increases were in Democratic Republic of the Congo, while banana and plantain per capita consumption for the other global leaders experienced more modest paces of growth.

Driven by increasing demand for banana and plantain 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 2019 to , which is projected to bring the market volume to tonnes by the end of .