Global Banana and Plantain Market Overview

In 2019, the global banana and plantain market increased by % to $, rising for the third consecutive year after two years of decline. Over the period under review, the total consumption indicated a resilient expansion from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +% against 2016 indices. The pace of growth was the most pronounced in 2012 when the market value increased by % against the previous year. Over the period under review, the global market reached the maximum level in 2019 and is likely to see steady growth in years to come.

In value terms, banana and plantain production reached $ in 2019 estimated in export prices. Overall, the total production indicated resilient growth from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production increased by +% against 2017 indices. The most prominent rate of growth was recorded in 2012 when the production volume increased by % y-o-y. Global production peaked in 2019 and is likely to see gradual growth in the near future.

The country with the largest volume of banana and plantain production was India ( tonnes), 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 Philippines ( tonnes) ranked third in terms of total production 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 slightly to tonnes per ha in 2019, approximately mirroring the year before. Over the period under review, the yield, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of % year-to-year. The global yield peaked at tonnes per ha in 2018, and then shrank slightly in the following year. 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 and plantains production worldwide stood at ha, remaining stable against the previous year. The harvested area increased at an average annual rate of +% 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 2012 when the harvested area increased by % y-o-y. Over the period under review, the harvested area dedicated to banana and plantain production reached the peak figure at ha in 2015; however, from 2016 to 2019, the harvested area failed to regain the momentum.

Global banana and plantain consumption amounted to tonnes in 2019, remaining constant against 2018. The total consumption volume increased at an average annual rate of +% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2012 when the consumption volume increased by % year-to-year. Global consumption peaked in 2019 and is likely to see steady growth in years to come.

The global banana and plantain market value amounted to $ in 2019, growing 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). Overall, the total consumption indicated buoyant growth from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +% against 2016 indices. The growth pace was the most rapid in 2012 with an increase of % against the previous year. Global consumption peaked in 2019 and is expected to retain growth in years to come.

India ( tonnes) remains the largest banana and plantain consuming country worldwide, accounting for % 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.

In India, banana and plantain consumption expanded at an average annual rate of +% over the period from 2007-2019. 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 and plantain markets worldwide were India ($), China ($) and Democratic Republic of the Congo ($), with a combined % share of the global market. These countries were followed by Indonesia, the Philippines, Ghana, Tanzania, Cameroon, Nigeria, Angola, the U.S., Brazil and Uganda, which together accounted for a further %.

Among the main consuming countries, Tanzania recorded the highest growth rate of market size, 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 Tanzania, 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 .