Asia-Pacific: Banana Market 2025

Banana Market Size in Asia-Pacific

In 2022, after two years of growth, there was decline in the Asia-Pacific banana market, when its value decreased by -0.5% to $X. In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Banana Production in Asia-Pacific

In value terms, banana production amounted to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 22%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

India (X tons) constituted the country with the largest volume of banana production, comprising approx. 48% of total volume. Moreover, banana production in India exceeded the figures recorded by the second-largest producer, China (X tons), threefold. Indonesia (X tons) ranked third in terms of total production with a 12% share.

In India, banana production expanded at an average annual rate of +2.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+0.1% per year) and Indonesia (+3.2% per year).

The average banana yield dropped modestly to X tons per ha in 2022, standing approx. at 2021 figures. The yield figure increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2014 when the yield increased by 13%. The level of yield peaked at X tons per ha in 2021, and then shrank modestly in the following year. 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 harvested area in Asia-Pacific dropped to X ha, stabilizing at the year before. Overall, the harvested area saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the harvested area increased by 4.9%. Over the period under review, the harvested area dedicated to banana production reached the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Banana Exports

Exports in Asia-Pacific

Banana exports reached X tons in 2022, remaining constant against 2021 figures. Overall, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 546%. 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 exports declined to $X in 2022. In general, exports showed a significant increase. The pace of growth was the most pronounced in 2017 with an increase of 419% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, the Philippines (X tons) was the major exporter of bananas, committing 49% of total exports. India (X tons) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (12%), Cambodia (11%), Lao People's Democratic Republic (4.9%) and Pakistan (4.6%). Myanmar (X tons) took a little share of total exports.

Exports from the Philippines decreased at an average annual rate of -12.3% from 2012 to 2022. At the same time, Myanmar (+47.8%), Vietnam (+42.5%), Cambodia (+37.9%), Lao People's Democratic Republic (+34.6%), India (+33.1%) and Pakistan (+15.9%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +47.8% from 2012-2022. While the share of the Philippines (+49 p.p.), India (+13 p.p.), Vietnam (+4.4 p.p.) and Myanmar (+3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Pakistan (-18.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) remains the largest banana supplier in Asia-Pacific, comprising 61% of total exports. The second position in the ranking was held by Cambodia ($X), with a 9.3% share of total exports. It was followed by Vietnam, with a 9% share.

From 2012 to 2022, the average annual growth rate of value in the Philippines was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Cambodia (+49.5% per year) and Vietnam (+46.6% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, with a decrease of -2.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.6%. The growth pace was the most rapid in 2021 an increase of 26%. As a result, the export price reached the peak level of $X per ton, and then reduced in the following year.

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 ($X per ton), while Pakistan ($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 (+15.0%), while the other leaders experienced more modest paces of growth.

Banana Imports

Imports in Asia-Pacific

Banana imports reduced slightly to X tons in 2022, falling by -4.2% against the previous year's figure. Total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -6.3% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of 29%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, banana imports amounted to $X in 2022. Total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -1.8% against 2019 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 35%. Over the period under review, imports reached the maximum at $X in 2019; afterwards, it flattened through to 2022.

Imports by Country

China represented the key importing country with an import of about X tons, which accounted for 50% of total imports. Japan (X tons) held a 29% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (8.9%). The following importers - New Zealand (X tons), Afghanistan (X tons), Nepal (X tons) and Hong Kong SAR (X tons) - each amounted to a 7.4% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Nepal (with a CAGR of +44.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and South Korea ($X) were the countries with the highest levels of imports in 2022, together comprising 91% of total imports. New Zealand, Hong Kong SAR, Afghanistan and Nepal lagged somewhat behind, together accounting for a further 5.9%.

In terms of the main importing countries, Nepal, with a CAGR of +42.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, increasing by 5.3% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 6.8% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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