ASEAN: Banana And Plantain Market 2025

Banana And Plantain Market Size in ASEAN

In 2022, after four years of growth, there was decline in the ASEAN banana and plantain market, when its value decreased by -0.8% to $X. The market value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Banana And Plantain Production in ASEAN

In value terms, banana and plantain production contracted modestly to $X in 2022 estimated in export price. The total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.4% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 37%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were the Philippines (X tons), Indonesia (X tons) and Vietnam (X tons), with a combined 82% share of total production. Myanmar, Thailand, Lao People's Democratic Republic and Cambodia lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Cambodia (with a CAGR of +10.4%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average banana and plantain yield in ASEAN shrank modestly to X tons per ha, which is down by -3.4% compared with the year before. The yield figure increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the yield increased by 18% against the previous year. The level of yield peaked at X tons per ha in 2015; however, from 2016 to 2022, the 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.

In 2022, the banana and plantain harvested area in ASEAN reached X ha, almost unchanged from the previous year. Overall, the harvested area, however, showed a slight curtailment. The growth pace was the most rapid in 2020 with an increase of 7.5% against the previous year. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Banana And Plantain Exports

Exports in ASEAN

In 2022, overseas shipments of bananas and plantains decreased by -3.7% to X tons, falling for the second year in a row after five years of growth. In general, exports saw a mild downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 87% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, banana and plantain exports reached $X in 2022. Overall, exports, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2017 when exports increased by 67%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

The Philippines was the key exporter of bananas and plantains in ASEAN, with the volume of exports accounting for X tons, which was near 57% of total exports in 2022. Vietnam (X tons) held the second position in the ranking, followed by Cambodia (X tons). All these countries together took approx. 35% share of total exports. Myanmar (X tons), Lao People's Democratic Republic (X tons) and Malaysia (X tons) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to banana and plantain exports from the Philippines stood at -6.3%. At the same time, Myanmar (+47.8%), Vietnam (+47.0%), Cambodia (+41.9%) and Lao People's Democratic Republic (+23.3%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +47.8% from 2012-2022. Malaysia experienced a relatively flat trend pattern. While the share of Vietnam (+20 p.p.), Cambodia (+14 p.p.), Myanmar (+3.5 p.p.) and Lao People's Democratic Republic (+2.1 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the Philippines (-39.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) remains the largest banana and plantain supplier in ASEAN, comprising 62% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 16% share of total exports. It was followed by Cambodia, with a 13% share.

In the Philippines, banana and plantain exports increased at an average annual rate of +5.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (+49.7% per year) and Cambodia (+57.2% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, surging by 5.3% against the previous year. Over the period under review, the export price recorded a remarkable increase. The most prominent rate of growth was recorded in 2019 an increase of 34%. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+12.4%), while the other leaders experienced more modest paces of growth.

Banana And Plantain Imports

Imports in ASEAN

In 2022, supplies from abroad of bananas and plantains decreased by -29.5% to X tons, falling for the second year in a row after six years of growth. Over the period under review, imports, however, enjoyed a notable increase. The most prominent rate of growth was recorded in 2020 with an increase of 27% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, banana and plantain imports contracted significantly to $X in 2022. In general, imports, however, continue to indicate a temperate expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 28% against the previous year. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

Singapore represented the main importer of bananas and plantains in ASEAN, with the volume of imports reaching X tons, which was near 50% of total imports in 2022. Thailand (X tons) took a 22% share (based on physical terms) of total imports, which put it in second place, followed by Brunei Darussalam (21%) and Malaysia (4.7%). Lao People's Democratic Republic (X tons) followed a long way behind the leaders.

Imports into Singapore increased at an average annual rate of +1.5% from 2012 to 2022. At the same time, Brunei Darussalam (+26.9%), Thailand (+4.6%) and Malaysia (+1.6%) displayed positive paces of growth. Moreover, Brunei Darussalam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +26.9% from 2012-2022. By contrast, Lao People's Democratic Republic (-2.9%) illustrated a downward trend over the same period. Brunei Darussalam (+18 p.p.) and Thailand (+2.7 p.p.) significantly strengthened its position in terms of the total imports, while Lao People's Democratic Republic and Singapore saw its share reduced by -1.9% and -9.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported bananas and plantains in ASEAN, comprising 61% of total imports. The second position in the ranking was held by Brunei Darussalam ($X), with a 19% share of total imports. It was followed by Thailand, with a 10% share.

From 2012 to 2022, the average annual growth rate of value in Singapore amounted to +2.4%. The remaining importing countries recorded the following average annual rates of imports growth: Brunei Darussalam (+19.2% per year) and Thailand (+4.5% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, waning by -3.1% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the import price increased by 13%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+12.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform