Banana Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Banana Market Report offers Detailed Production Analysis (Volume), Consumption Analysis (Value and Volume), Export Analysis (Value and Volume), Import Analysis (Value and Volume), and Price Trend Analysis. The market is segmented on the basis of Geography into North America, Europe, Asia-Pacific, South America, and Africa.

Market Snapshot

Banana Market Overview
Study Period:

2016 - 2026

Base Year:

2020

CAGR:

4.1 %

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Market Overview

The global production of bananas in 2019 was 116.0 million metric ton, and it is projected to register a CAGR of 4.1% during the forecast period of 2021-2026.

The global pandemic (COVID-19) has hit this agrosystem hardest. Due to lockdown restrictions across the world, there have been shortages of labor and planting materials affecting production. The closed markets have resulted in a price crash in few markets, while in others, there was an increase in prices. Due to COVID-19, future objectives are focused on developing sustainable marketing and processing lines for bananas across the world.

In 2018, Asia-Pacific led the market with 61.0% of the global consumption. India is the world's leading producer of bananas, accounting for nearly 25.7% of the total output in 2019. Bananas are one of the major globally exported fruits and also an important source of livelihood and food.

Bananas are the fourth most important food crop after wheat, rice, and maize in terms of production and are the world’s favorite fruit in terms of consumption quantity. According to ITC Trademap, the global banana exports were estimated at 24.9 million metric ton in 2019. Ecuador was the largest exporter of bananas, accounting for 24.8% of the global exports. The Philippines, Costa Rica, and Colombia are the other top banana exporters in the world. The United States was the leading importer of bananas, with a 16.8% share in the world’s imports in 2019.

Scope of the Report

Bananas are a type of tropical fruit with soft pulpy flesh enclosed in a soft usually yellow rind, which has an elongated shape with tapering ends. Bananas are produced by several kinds of large herbaceous flowering plants in the genus Musa, which grows in clusters hanging from the top of the plant. The report offers detailed production analysis (volume), consumption analysis (value and volume), export analysis (value and volume), import analysis (value and volume), and price trend analysis. The banana market is segmented on the basis of geography into North America, Europe, Asia-Pacific, South America, and Africa.

Geography (Production Analysis, Consumption Analysis by Value and Volume, Import Analysis by Value and Volume, Export Analysis by Value and Volume, and Price Trend Analysis)
North America
United States
Costa Rica
Mexico
Europe
Germany
Netherlands
Asia-Pacific
India
China
Indonesia
Phillipines
South America
Equador
Columbia
Brazil
Africa
Angola
Egypt

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Key Market Trends

Increasing Health Consciousness is Driving the Banana Market

The increasing advancements in food and beverages and growing health awareness have led to a shift in the focus of consumers to hygienic and healthy food products. Bananas are considered a rich source of vitamin B6, vitamin C, manganese, potassium, dietary fibers, and protein. Bananas contribute to the proper functioning of metabolism, nervous system, and aid in the digestion process. Bananas are also used in a wide variety of food products, such as breakfast cereals, ice creams, and other desserts, apart from raw consumption. For decades, bananas have been considered a staple, inexpensive, and easily available food. This has led to the constant development in production to satisfy the economic, environmental, and social well-being consciousness of consumers. The demand for bananas is likely to grow further during the forecast period, owing to the increasing health consciousness.

Banana Market Latest Trends

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Asia-Pacific Dominates the Banana Market

Asia-Pacific leads the banana market with a 61.0% share of the global consumption. Within Asia-Pacific, India is the largest producer of bananas in the world, with a production of 30.4 million metric ton from an area of 0.84 million hectares in 2019, followed by China and Indonesia. India's export of bananas was valued at USD 75,095.0 in 2019, which represented only 0.6% of the world’s exports since most of the bananas grown in India are for the domestic market. However, the per capita consumption is increasing in the Asia-Pacific region owing to the increase in population. The growing consumption is leading producers across the globe to increase production levels. Due to the structure of landholdings in India, there are certain limits on land usage. Thus, the contract-farming model is used, which allows agribusiness producers to produce bananas in larger areas by overcoming legal constraints within the country. In India, production and productivity have increased significantly with the expansion of the area under cultivation.

Banana Market Geography Trends

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Value Chain/Supply Chain Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Geography (Production Analysis, Consumption Analysis by Value and Volume, Import Analysis by Value and Volume, Export Analysis by Value and Volume, and Price Trend Analysis)

      1. 5.1.1 North America

        1. 5.1.1.1 United States

        2. 5.1.1.2 Costa Rica

        3. 5.1.1.3 Mexico

      2. 5.1.2 Europe

        1. 5.1.2.1 Germany

        2. 5.1.2.2 Netherlands

      3. 5.1.3 Asia-Pacific

        1. 5.1.3.1 India

        2. 5.1.3.2 China

        3. 5.1.3.3 Indonesia

        4. 5.1.3.4 Phillipines

      4. 5.1.4 South America

        1. 5.1.4.1 Equador

        2. 5.1.4.2 Columbia

        3. 5.1.4.3 Brazil

      5. 5.1.5 Africa

        1. 5.1.5.1 Angola

        2. 5.1.5.2 Egypt

  6. 6. BANANA MARKET OPPORTUNITIES AND FUTURE TRENDS

  7. 7. AN ASSESSMENT OF IMPACT OF COVID-19 ON THE MARKET

**Subject to Availability

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Frequently Asked Questions

The Banana Market market is studied from 2016 - 2026.

The Banana Market is growing at a CAGR of 4.1% over the next 5 years.

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