Global Banana Market Overview
Market Overview
In 2019, the global banana market increased by 
% to $, rising for the third year in a row after two years of decline. 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 growth pace was the most rapid 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 years to come.
In value terms, banana production amounted 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 pace of growth appeared the most rapid in 2008 with an increase of % year-to-year. Global production peaked in 2019 and is likely to see steady growth in years to come.
India ( tonnes) constituted the country with the largest volume of banana production, comprising approx. % of total volume. Moreover, banana 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 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: China (+% per year) and the Philippines (-% per year).
The global average banana yield amounted to tonnes per ha in 2019, remaining constant against the year before. Over the period under review, the yield recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of % against the previous year. As a result, the yield attained 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.
The global banana harvested area rose modestly to ha in 2019, growing by % compared with the previous year. 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 2010 when the harvested area increased by % y-o-y. The global harvested area peaked in 2019 and is expected to retain growth in the immediate term.
% to $, rising for the third year in a row after two years of decline. 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 growth pace was the most rapid 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 years to come.In value terms, banana production amounted 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 pace of growth appeared the most rapid in 2008 with an increase of % year-to-year. Global production peaked in 2019 and is likely to see steady growth in years to come.India (
tonnes) constituted the country with the largest volume of banana production, comprising approx. % of total volume. Moreover, banana 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 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: China (+% per year) and the Philippines (-% per year).The global average banana yield amounted to
tonnes per ha in 2019, remaining constant against the year before. Over the period under review, the yield recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of % against the previous year. As a result, the yield attained 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.The global banana harvested area rose modestly to
ha in 2019, growing by % compared with the previous year. 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 2010 when the harvested area increased by % y-o-y. The global harvested area peaked in 2019 and is expected to retain growth in the immediate term.Consumption
For the third year in a row, the global market recorded growth in consumption of bananas, which increased by % to tonnes in 2019. The total consumption volume increased at an average annual rate of +% from 2007 to 2019; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2010 when the consumption volume increased by % against the previous year. Over the period under review, global consumption reached the peak volume in 2019 and is expected to retain growth in years to come.
The global banana market size expanded 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). 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 pace of growth was the most pronounced in 2014 with an increase of % y-o-y. Over the period under review, the global market reached the maximum level in 2019 and is expected to retain growth in years to come.
% to tonnes in 2019. The total consumption volume increased at an average annual rate of +% from 2007 to 2019; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2010 when the consumption volume increased by % against the previous year. Over the period under review, global consumption reached the peak volume in 2019 and is expected to retain growth in years to come.The global banana market size expanded 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). 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 pace of growth was the most pronounced in 2014 with an increase of % y-o-y. Over the period under review, the global market reached the maximum level in 2019 and is expected to retain growth in years to come.Consumption By Country
India ( tonnes) remains the largest banana consuming country worldwide, accounting for % of total volume. Moreover, banana 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 stood at +%. In the other countries, the average annual rates were as follows: China (+% per year) and Indonesia (+% per year).
In value terms, the largest banana markets worldwide were India ($), China ($) and Democratic Republic of the Congo ($), together accounting for % of the global market.
In terms of the main consuming countries, Democratic Republic of the Congo recorded the highest rates of growth with regard to market size, over the period under review, while banana market for the other global leaders experienced more modest paces of growth.
The countries with the highest levels of banana per capita consumption in 2019 were Cameroon ( kg per person), Ghana ( kg per person) and Angola ( kg per person).
From 2007 to 2019, the biggest increases were in Democratic Republic of the Congo, while banana per capita consumption for the other global leaders experienced more modest paces of growth.
tonnes) remains the largest banana consuming country worldwide, accounting for % of total volume. Moreover, banana consumption in India exceeded the figures recorded by the second-largest consumer, China ( tonnes), twofold. The third position in this ranking was occupied by Indonesia ( tonnes), with a % share.From 2007 to 2019, the average annual rate of growth in terms of volume in India stood at +
%. In the other countries, the average annual rates were as follows: China (+% per year) and Indonesia (+% per year).In value terms, the largest banana markets worldwide were India ($
), China ($) and Democratic Republic of the Congo ($), together accounting for % of the global market.In terms of the main consuming countries, Democratic Republic of the Congo recorded the highest rates of growth with regard to market size, 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 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 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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