Period 2007-2019
Global Banana Market Overview |
Market Overview
The global banana market rose sharply to $
in 2019, surging 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 remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2008 with an increase of % year-to-year. Global consumption peaked in 2019 and is likely to see steady growth in the near future.
In value terms, banana production shrank 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 remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2008 with an increase of % year-to-year. Global production peaked at $ in 2018, and then dropped in the following year.
Ecuador ( tonnes) constituted the country with the largest volume of banana production, comprising approx. % of total volume. Moreover, banana production in Ecuador exceeded the figures recorded by the second-largest producer, the Philippines ( tonnes), twofold. The third position in this ranking was occupied by Costa Rica ( tonnes), with a % share.
In Ecuador, banana production expanded at an average annual rate of +% over the period from 2007-2019. The remaining producing countries recorded the following average annual rates of production growth: the Philippines (+% per year) and Costa Rica (+% per year).
in 2019, surging 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 remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2008 with an increase of % year-to-year. Global consumption peaked in 2019 and is likely to see steady growth in the near future.In value terms, banana production shrank 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 remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2008 with an increase of % year-to-year. Global production peaked at $ in 2018, and then dropped in the following year.Ecuador (
tonnes) constituted the country with the largest volume of banana production, comprising approx. % of total volume. Moreover, banana production in Ecuador exceeded the figures recorded by the second-largest producer, the Philippines ( tonnes), twofold. The third position in this ranking was occupied by Costa Rica ( tonnes), with a % share.In Ecuador, banana production expanded at an average annual rate of +
% over the period from 2007-2019. The remaining producing countries recorded the following average annual rates of production growth: the Philippines (+% per year) and Costa Rica (+% per year).Consumption
Global banana consumption rose notably to tonnes in 2019, picking up by % on the previous year. 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 somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when the consumption volume increased by % y-o-y. Global consumption peaked at tonnes in 2017; however, from 2018 to 2019, consumption stood at a somewhat lower figure.
The global banana market value expanded notably to $ in 2019, surging 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 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2008 with an increase of % year-to-year. Over the period under review, the global market attained the peak level in 2019 and is likely to continue growth in the immediate term.
tonnes in 2019, picking up by % on the previous year. 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 somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when the consumption volume increased by % y-o-y. Global consumption peaked at tonnes in 2017; however, from 2018 to 2019, consumption stood at a somewhat lower figure.The global banana market value expanded notably to $
in 2019, surging 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 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2008 with an increase of % year-to-year. Over the period under review, the global market attained the peak level in 2019 and is likely to continue growth in the immediate term.Consumption By Country
The countries with the highest volumes of banana consumption in 2019 were the U.S. ( tonnes), Ecuador ( tonnes) and Germany ( tonnes), with a combined % share of global consumption. Russia, Belgium, Japan, Guatemala, China, the UK, Panama, Italy and the Philippines lagged somewhat behind, together comprising a further %.
From 2007 to 2019, the most notable rate of growth in terms of banana consumption, amongst the key consuming countries, was attained by China, while banana consumption for the other global leaders experienced more modest paces of growth.
In value terms, the U.S. ($), Ecuador ($) and Russia ($) appeared to be the countries with the highest levels of market value in 2019, with a combined % share of the global market. Japan, Germany, China, the UK, Belgium, Guatemala, Panama, Italy and the Philippines lagged somewhat behind, together comprising a further %.
China recorded the highest rates of growth with regard to market size, in terms of the main consuming countries over the period under review, while banana market for the other global leaders experienced more modest paces of growth.
The countries with the highest levels of banana per capita consumption in 2019 were Panama ( kg per person), Ecuador ( kg per person) and Belgium ( kg per person).
From 2007 to 2019, the most notable rate of growth in terms of banana per capita consumption, amongst the main consuming countries, was attained by China, while banana per capita consumption for the other global leaders experienced more modest paces of growth.
tonnes), Ecuador ( tonnes) and Germany ( tonnes), with a combined % share of global consumption. Russia, Belgium, Japan, Guatemala, China, the UK, Panama, Italy and the Philippines lagged somewhat behind, together comprising a further %.From 2007 to 2019, the most notable rate of growth in terms of banana consumption, amongst the key consuming countries, was attained by China, while banana consumption for the other global leaders experienced more modest paces of growth.
In value terms, the U.S. ($
), Ecuador ($) and Russia ($) appeared to be the countries with the highest levels of market value in 2019, with a combined % share of the global market. Japan, Germany, China, the UK, Belgium, Guatemala, Panama, Italy and the Philippines lagged somewhat behind, together comprising a further %.China recorded the highest rates of growth with regard to 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.
The countries with the highest levels of banana per capita consumption in 2019 were Panama (
kg per person), Ecuador ( kg per person) and Belgium ( kg per person).From 2007 to 2019, the most notable rate of growth in terms of banana per capita consumption, amongst the main consuming countries, was attained by China, while banana per capita consumption for the other global leaders experienced more modest paces of growth.
Market Forecast
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 2019 to , which is projected to bring the market volume to tonnes by the end of .
% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .
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