Japan: Banana Market 2024

Banana Market Size in Japan

In 2022, the Japanese banana market decreased by -9% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 8.9%. Banana consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Banana Production in Japan

In value terms, banana production shrank slightly to $X in 2022 estimated in export price. In general, production showed a abrupt downturn. The pace of growth was the most pronounced in 2016 with an increase of 212% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

The average yield of bananas in Japan fell to X tons per ha in 2022, stabilizing at the previous year. Over the period under review, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 217%. The banana yield peaked at X tons per ha in 2021, and then fell 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 harvested area of bananas in Japan was estimated at X ha, stabilizing at 2021. Overall, the harvested area recorded a abrupt slump. The most prominent rate of growth was recorded in 2019 when the harvested area increased by 20%. The banana harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Banana Exports

Exports from Japan

In 2022, the amount of bananas exported from Japan dropped rapidly to X kg, reducing by -66.8% against the year before. Overall, exports saw a dramatic shrinkage. The smallest decline of -15.3% was in 2014. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, banana exports shrank markedly to $X in 2022. Over the period under review, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2014 with an increase of 14%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Hong Kong SAR (X kg), Singapore (X kg) and Canada (X kg) were the main destinations of banana exports from Japan, together comprising 65% of total exports.

From 2013 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of 0.0%), while the other leaders experienced a decline.

In value terms, Hong Kong SAR ($X) emerged as the key foreign market for bananas exports from Japan, comprising 63% of total exports. The second position in the ranking was taken by Singapore ($X), with a 7.4% share of total exports.

From 2013 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR stood at -13.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-17.7% per year) and Canada (0.0% per year).

Export Prices by Country

In 2022, the average banana export price amounted to $X per ton, picking up by 51% against the previous year. In general, the export price continues to indicate a significant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+39.8%).

Banana Imports

Imports into Japan

After five years of growth, purchases abroad of bananas decreased by -5% to X tons in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 4.2% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then contracted modestly in the following year.

In value terms, banana imports dropped to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when imports increased by 9.5% against the previous year. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the Philippines (X tons) constituted the largest banana supplier to Japan, accounting for a 78% share of total imports. Moreover, banana imports from the Philippines exceeded the figures recorded by the second-largest supplier, Ecuador (X tons), sevenfold. The third position in this ranking was held by Mexico (X tons), with a 6.8% share.

From 2012 to 2022, the average annual growth rate of volume from the Philippines amounted to -2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (+12.3% per year) and Mexico (+37.6% per year).

In value terms, the Philippines ($X) constituted the largest supplier of bananas to Japan, comprising 77% of total imports. The second position in the ranking was taken by Ecuador ($X), with an 11% share of total imports. It was followed by Mexico, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Philippines totaled -1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (+12.3% per year) and Mexico (+36.3% per year).

Import Prices by Country

In 2022, the average banana import price amounted to $X per ton, reducing by -4.5% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 9.8%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for Guatemala ($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 (+0.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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