Banana Market Overview in the USA

The U.S. banana market skyrocketed to $ in 2018, with an increase of % 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). Over the period under review, consumption saw a noticeable increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

In value terms, banana production rose significantly to $ in 2018. In general, production, however, continues to indicate a deep slump. The most prominent rate of growth was recorded in 2017 with an increase of % year-to-year. Over the period under review, production hit record highs at $ in 2011; however, from 2012 to 2018, production failed to regain the momentum.

The average yield of bananas in the U.S. was estimated at tonnes per ha in 2018, picking up by % against the previous year. Overall, the yield, however, saw a perceptible curtailment. The pace of growth was the most pronounced in 2011 with an increase of % against the previous year. The banana yield peaked at tonnes per ha in 2007; however, from 2008 to 2018, 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 2018, the banana harvested area in the U.S. rose slightly to ha, surging by % compared with 2017. In general, the harvested area, however, showed a abrupt shrinkage. The banana harvested area peaked at ha in 2007; however, from 2008 to 2018, the harvested area failed to regain the momentum.

After three years of decline, consumption of bananas increased by % to tonnes in 2018. In general, the total consumption indicated a slight expansion from 2007 to 2018: its volume increased at an average annual rate of +% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, consumption attained the peak volume at tonnes in 2014; however, from 2015 to 2018, consumption remained at a lower figure.

The value of the banana market in the U.S. skyrocketed to $ in 2018, increasing 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, consumption posted temperate growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

The banana market is expected to start a downward consumption trend over the next decade. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -% for the twelve-year period from 2018 to , which is projected to depress 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 2018. In 2018, 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.