Global Banana Market Overview

The global banana market revenue amounted to $ in 2018, 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 2018; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2008 with an increase of % y-o-y. Over the period under review, the global banana market reached its maximum level in 2018 and is expected to retain its growth in the in years to come.

In value terms, banana production stood at $ in 2018 estimated in export prices. The total output value increased at an average annual rate of +% 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 when production volume increased by % year-to-year. Over the period under review, global banana production hit record highs in 2018 and is likely to continue its growth in the near future.

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

In India, banana production increased at an average annual rate of +% over the period from 2007-2018. The remaining producing countries recorded the following average annual rates of production growth: China (+% per year) and Indonesia (+% per year).

Global average banana yield totaled tonne per ha in 2018, growing by % against the previous year. Overall, the banana yield continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of % 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 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 2018, the global harvested area of bananas amounted to ha, approximately equating 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 only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of % y-o-y. The global banana harvested area peaked in 2018 and is expected to retain its growth in the near future.

In 2018, approx. tonnes of bananas were consumed worldwide; increasing by % against the previous year. The total consumption volume increased at an average annual rate of +% over the period from 2007 to 2018; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2008 when consumption volume increased by % year-to-year. The global banana consumption peaked in 2018 and is expected to retain its growth in the in years to come.

The global banana market revenue amounted to $ in 2018, 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 2018; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2008 with an increase of % year-to-year. Over the period under review, the global banana market hit record highs in 2018 and is likely to continue its growth in the near future.

The country with the largest volume of banana consumption was India ( tonnes), accounting for % of total volume. Moreover, banana consumption in India exceeded the figures recorded by the second-largest consumer, China ( tonnes), twofold. Indonesia ( tonnes) ranked third in terms of total consumption with a % share.

In India, banana consumption increased at an average annual rate of +% over the period from 2007-2018. The remaining consuming countries recorded the following average annual rates of consumption growth: 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. These countries were followed by Angola, Tanzania, the Philippines, Brazil, the U.S., Viet Nam and Colombia, which together accounted for a further %.

Angola recorded the highest rates of growth with regard to market size, among 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.

In Angola, banana per capita consumption increased at an average annual rate of +% over the period from 2007-2018. 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 .