Banana Market Overview in the USA

In 2019, the U.S. banana market decreased by -% to $ for the first time since 2012, thus ending a six-year rising trend. Over the period under review, consumption, however, posted a buoyant increase. The pace of growth was the most pronounced in 2009 when the market value increased by % y-o-y. Over the period under review, the market hit record highs at $ in 2018, and then dropped slightly in the following year.

In value terms, banana production fell to $ in 2019. Overall, production showed a abrupt contraction. The most prominent rate of growth was recorded in 2017 with an increase of % against the previous year. Banana production peaked at $ in 2007; however, from 2008 to 2019, production stood at a somewhat lower figure.

The average yield of bananas in the U.S. contracted slightly to tonnes per ha in 2019, with a decrease of -% on the year before. Overall, the yield saw a pronounced curtailment. The most prominent rate of growth was recorded in 2011 with an increase of % year-to-year. The banana yield peaked at tonnes per ha in 2007; however, from 2008 to 2019, the yield failed to regain the momentum. 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 were harvested in the U.S.; waning by -% compared with the previous year's figure. Over the period under review, the harvested area showed a deep setback. The pace of growth was the most pronounced in 2018 when the harvested area increased by % y-o-y. The banana harvested area peaked at ha in 2007; however, from 2008 to 2019, the harvested area stood at a somewhat lower figure.

In 2019, consumption of bananas decreased by -% to tonnes for the first time since 2013, thus ending a five-year rising trend. Overall, the total consumption indicated a temperate increase from 2007 to 2019: its volume 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. The pace of growth appeared the most rapid in 2009 when the consumption volume increased by % y-o-y. Over the period under review, consumption reached the peak volume at tonnes in 2018, and then reduced slightly in the following year.

The value of the banana market in the U.S. declined modestly to $ in 2019, shrinking 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). In general, consumption, however, showed a prominent increase. The growth pace was the most rapid in 2009 when the market value increased by % year-to-year. Over the period under review, the market attained the maximum level at $ in 2018, and then fell in the following year.

Driven by increasing demand for banana in the U.S., 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 .

Banana market in the U.S. consists almost entirely of imported products.

The U.S. remains a net importer of banana; in physical and value terms, imports consistently exceeded exports from 2007 to 2019. In 2019, there was a significant trade deficit of tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.