Global Banana Market
Market Overview
In 
, the global banana market increased by % to $, rising for the fourth consecutive year after three years of decline. In general, consumption showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the market value increased by % year-to-year. As a result, consumption reached the peak level of $. from 2014 to , the growth of the global market failed to regain the momentum.
In value terms, banana production reached $ in estimated in export prices. Overall, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the production volume increased by % year-to-year. As a result, production reached the peak level of $. from 2014 to , global production growth failed to regain the momentum.
The country with the largest volume of banana production was India ( tonnes), accounting for % of total volume. Moreover, banana production in India exceeded the figures recorded by the second-largest producer, China ( tonnes), threefold. The third position in this ranking was occupied by Indonesia ( tonnes), with a % share.
From 2012 to, the average annual rate of growth in terms of volume in India totaled +%. In the other countries, the average annual rates were as follows: China (-% per year) and Indonesia (+% per year).
The global average banana yield was estimated at tonnes per ha in , remaining constant against the previous year's figure. The yield figure increased at an average annual rate of +% over the period from 2012 to ; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2018 with an increase of % y-o-y. Over the period under review, the average banana yield hit record highs in and is expected to retain growth in the near future. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In, the total area harvested in terms of bananas production worldwide amounted to ha, almost unchanged from the year before. Over the period under review, the harvested area, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the harvested area increased by % y-o-y. Over the period under review, the harvested area dedicated to banana production attained the peak figure at ha in 2013; however, from 2014 to , the harvested area failed to regain the momentum.
, the global banana market increased by % to $, rising for the fourth consecutive year after three years of decline. In general, consumption showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the market value increased by % year-to-year. As a result, consumption reached the peak level of $. from 2014 to , the growth of the global market failed to regain the momentum.In value terms, banana production reached $
in estimated in export prices. Overall, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the production volume increased by % year-to-year. As a result, production reached the peak level of $. from 2014 to , global production growth failed to regain the momentum.The country with the largest volume of banana production was India (
tonnes), accounting for % of total volume. Moreover, banana production in India exceeded the figures recorded by the second-largest producer, China ( tonnes), threefold. The third position in this ranking was occupied by Indonesia ( tonnes), with a % share.From 2012 to
, the average annual rate of growth in terms of volume in India totaled +%. In the other countries, the average annual rates were as follows: China (-% per year) and Indonesia (+% per year).The global average banana yield was estimated at
tonnes per ha in , remaining constant against the previous year's figure. The yield figure increased at an average annual rate of +% over the period from 2012 to ; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2018 with an increase of % y-o-y. Over the period under review, the average banana yield hit record highs in and is expected to retain growth in the near future. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.In
, the total area harvested in terms of bananas production worldwide amounted to ha, almost unchanged from the year before. Over the period under review, the harvested area, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the harvested area increased by % y-o-y. Over the period under review, the harvested area dedicated to banana production attained the peak figure at ha in 2013; however, from 2014 to , the harvested area failed to regain the momentum.Consumption
In , the amount of bananas consumed worldwide reached tonnes, growing by % on the previous year. The total consumption volume increased at an average annual rate of +% from 2012 to ; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of % year-to-year. Over the period under review, global consumption attained the maximum volume in and is likely to see steady growth in years to come.
The global banana market value expanded modestly to $ in , 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). Overall, consumption recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the market value increased by % y-o-y. As a result, consumption reached the peak level of $. from 2014 to , the growth of the global market remained at a somewhat lower figure.
, the amount of bananas consumed worldwide reached tonnes, growing by % on the previous year. The total consumption volume increased at an average annual rate of +% from 2012 to ; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of % year-to-year. Over the period under review, global consumption attained the maximum volume in and is likely to see steady growth in years to come.The global banana market value expanded modestly to $
in , 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). Overall, consumption recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the market value increased by % y-o-y. As a result, consumption reached the peak level of $. from 2014 to , the growth of the global market remained at a somewhat lower figure.Consumption By Country
The country with the largest volume of banana consumption was India ( tonnes), accounting for % of total volume. Moreover, banana consumption in India exceeded the figures recorded by the second-largest consumer, China ( tonnes), twofold. The third position in this ranking was occupied by Indonesia ( tonnes), with a % share.
From 2012 to, the average annual rate of growth in terms of volume in India totaled +%. The remaining consuming countries recorded the following average annual rates of consumption growth: China (+% per year) and Indonesia (+% per year).
In value terms, the largest banana markets worldwide were India ($), China ($) and Indonesia ($), together comprising % of the global market. The Philippines, Angola, Kenya, Brazil, Tanzania, United States, Peru, Vietnam, Mexico and Guatemala lagged somewhat behind, together comprising a further %.
Kenya saw the highest growth rate of market size, among the main consuming countries 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 were Angola ( kg per person), Guatemala ( kg per person) and Peru ( kg per person).
From 2012 to, the biggest increases were in Guatemala, while banana per capita consumption for the other global leaders experienced more modest paces of growth.
tonnes), 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 2012 to
, the average annual rate of growth in terms of volume in India totaled +%. The remaining consuming countries recorded the following average annual rates of consumption growth: China (+% per year) and Indonesia (+% per year).In value terms, the largest banana markets worldwide were India ($
), China ($) and Indonesia ($), together comprising % of the global market. The Philippines, Angola, Kenya, Brazil, Tanzania, United States, Peru, Vietnam, Mexico and Guatemala lagged somewhat behind, together comprising a further %.Kenya saw the highest growth rate of market size, among the main consuming countries 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
were Angola ( kg per person), Guatemala ( kg per person) and Peru ( kg per person).From 2012 to
, the biggest increases were in Guatemala, 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 to , which is projected to bring the market volume to tonnes by the end of .
% for the period from to , which is projected to bring the market volume to tonnes by the end of .
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