Eastern Asia: Banana Market 2025

Banana Market Size in Eastern Asia

The East Asian banana market contracted to $X in 2022, declining by -3.4% against the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Banana Production in Eastern Asia

In value terms, banana production contracted modestly to $X in 2022 estimated in export price. The total production indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.2% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 114% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

China (X tons) remains the largest banana producing country in Eastern Asia, comprising approx. 97% of total volume. It was followed by Taiwan (Chinese) (X tons), with a 2.9% share of total production.

From 2012 to 2022, the average annual growth rate of volume in China was relatively modest.

In 2022, the average yield of bananas in Eastern Asia reduced to X tons per ha, therefore, remained relatively stable against the previous year's figure. The yield figure increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when the yield increased by 14% against the previous year. The level of yield peaked at X tons per ha in 2021, and then reduced slightly 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.

The banana harvested area fell to X ha in 2022, stabilizing at the previous year's figure. In general, the harvested area showed a mild decrease. The most prominent rate of growth was recorded in 2015 when the harvested area increased by 4.4% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2016 to 2022, the growth of the banana harvested area failed to regain momentum.

Banana Exports

Exports in Eastern Asia

In 2022, approx. X tons of bananas were exported in Eastern Asia; growing by 5.3% compared with the previous year. Over the period under review, exports recorded perceptible growth. The most prominent rate of growth was recorded in 2017 with an increase of 61%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, banana exports soared to $X in 2022. In general, exports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 62%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

China was the largest exporting country with an export of about X tons, which amounted to 77% of total exports. Taiwan (Chinese) (X tons) ranks second in terms of the total exports with a 12% share, followed by Hong Kong SAR (11%).

Exports from China increased at an average annual rate of +14.5% from 2012 to 2022. At the same time, Taiwan (Chinese) (+34.1%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +34.1% from 2012-2022. By contrast, Hong Kong SAR (-15.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and Taiwan (Chinese) increased by +52 and +11 percentage points, respectively.

In value terms, China ($X) remains the largest banana supplier in Eastern Asia, comprising 73% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 16% share of total exports.

In China, banana exports increased at an average annual rate of +15.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+36.9% per year) and Hong Kong SAR (-4.8% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, jumping by 17% against the previous year. Export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +8.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, banana export price increased by +24.9% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the export price increased by 67%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while Hong Kong SAR ($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 (+12.8%), while the other leaders experienced more modest paces of growth.

Banana Imports

Imports in Eastern Asia

In 2022, banana imports in Eastern Asia contracted slightly to X tons, shrinking by -4.4% compared with 2021. Total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.2% 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 -5.4% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of 34% against the previous year. Over the period under review, imports reached the maximum 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 moderate expansion from 2012 to 2022: its value 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 -1.2% against 2019 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 38%. Over the period under review, imports hit record highs at $X in 2019; afterwards, it flattened through to 2022.

Imports by Country

China represented the major importing country with an import of about X tons, which accounted for 56% of total imports. Japan (X tons) ranks second in terms of the total imports with a 32% share, followed by South Korea (9.8%). Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by China (with a CAGR of +11.2%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, China ($X), Japan ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 98% of total imports.

China, with a CAGR of +12.3%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries 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 Eastern Asia stood at $X per ton in 2022, growing by 5.5% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 7.9%. 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.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in South Korea ($X per ton) and Japan ($X per ton), while China ($X per ton) and Hong Kong SAR ($X per ton) were 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

Frequently Asked Questions (FAQ) :