Banana and Plantain Market Overview in the USA

After three years of growth, the U.S. banana and plantain market decreased by -% to $ in 2019. In general, the total consumption indicated perceptible growth from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2009 with an increase of % y-o-y. Banana and plantain consumption peaked at $ in 2018, and then declined slightly in the following year.

In value terms, banana and plantain production stood at $ in 2019. Overall, production, however, continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2018 when the production volume increased by % y-o-y. Banana and plantain production peaked at $ in 2008; however, from 2009 to 2019, production remained at a lower figure.

The average yield of bananas and plantains in the U.S. soared to tonnes per ha in 2019, increasing by % compared with 2018 figures. Over the period under review, the yield, however, saw a abrupt decline. The banana and plantain 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, the total area harvested in terms of bananas and plantains production in the U.S. dropped remarkably to ha, waning by -% compared with the previous year. Overall, the harvested area showed a pronounced contraction. The growth pace was the most rapid in 2017 when the harvested area increased by % year-to-year. The banana and plantain harvested area peaked at ha in 2007; however, from 2008 to 2019, the harvested area stood at a somewhat lower figure.

Banana and plantain consumption in the U.S. declined to tonnes in 2019, which is down by -% against the year before. The total consumption volume increased at an average annual rate of +% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2009 when the consumption volume increased by % against the previous year. Banana and plantain consumption peaked at tonnes in 2016; however, from 2017 to 2019, consumption remained at a lower figure.

The value of the banana and plantain market in the U.S. dropped 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, the total consumption indicated a measured increase from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2009 with an increase of % year-to-year. Over the period under review, the market attained the peak level at $ in 2018, and then dropped modestly in the following year.

Driven by increasing demand for banana and plantain in the U.S., the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to accelerate, 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 and plantain market in the U.S. consists almost entirely of imported products.

The U.S. remains a net importer of banana and plantain; 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.