Banana Market Overview in the USA

The revenue of the banana market in the U.S. amounted to $1.5B in 2010, picking up by 5% 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 +2.3% from 2007 to 2010; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2009 with an increase of 33% year-to-year. Over the period under review, the banana market reached its maximum level in 2010 and is expected to retain its growth in the near future.

In value terms, banana production amounted to $6.4M in 2010. Over the period under review, banana production continues to indicate a mild decline. The most prominent rate of growth was recorded in 2009 when production volume increased by 12% y-o-y. Banana production peaked at $6.7M in 2007; however, from 2008 to 2010, production remained at a lower figure.

In 2010, the average banana yield in the U.S. stood at 18 tonne per ha, dropping by -3.8% against the previous year. In general, the banana yield continues to indicate a deep decrease. The pace of growth appeared the most rapid in 2009 when yield increased by 6.3% y-o-y. Banana yield peaked at 22 tonne per ha in 2007; however, from 2008 to 2010, yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

Banana harvested area in the U.S. stood at 445 ha in 2010, remaining stable against the previous year. Overall, the banana harvested area continues to indicate an abrupt downturn. Over the period under review, the harvested area dedicated to banana production reached its peak figure at 526 ha in 2007; however, from 2008 to 2010, harvested area remained at a lower figure.

In 2010, the amount of bananas consumed in the U.S. amounted to 4.1M tonnes, growing by 2.1% against the previous year. The total consumption volume increased at an average annual rate of +2.0% over the period from 2007 to 2010; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2009 with an increase of 24% against the previous year. Banana consumption peaked in 2010 and is expected to retain its growth in the near future.

The revenue of the banana market in the U.S. amounted to $1.5B in 2010, picking up by 5% 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 +2.3% from 2007 to 2010; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2009 with an increase of 33% against the previous year. Over the period under review, the banana market reached its peak figure level in 2010 and is likely to see steady growth in the immediate term.

Driven by increasing demand for banana in the U.S., the market is expected to continue an upward consumption trend over the next fifteen-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.8% for the fifteen-year period from 2010 to 2025, which is projected to bring the market volume to 5.3M tonnes by the end of 2025.

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 2010. In 2010, there was a significant trade deficit of 4M tonnes, which was equal to $1.2B. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.