Northern America: Banana Market 2025

Banana Market Size in Northern America

In 2022, the North American banana market increased by 3% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the market value increased by 5.1% against the previous year. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Banana Production in Northern America

In value terms, banana production amounted to $X in 2022 estimated in export price. In general, production, however, continues to indicate a deep reduction. The growth pace was the most rapid in 2020 when the production volume increased by 24% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

The United States (X tons) constituted the country with the largest volume of banana production, comprising approx. 90% of total volume. Moreover, banana production in the United States exceeded the figures recorded by the second-largest producer, Bermuda (X tons), ninefold.

In the United States, banana production declined by an average annual rate of -8.7% over the period from 2012-2022.

The average banana yield rose rapidly to X tons per ha in 2022, picking up by 7.1% on the previous year's figure. Overall, the yield, however, recorded a deep downturn. The pace of growth appeared the most rapid in 2019 with an increase of 30% against the previous year. Over the period under review, the banana yield hit record highs at X tons per ha in 2014; however, from 2015 to 2022, the yield failed to regain momentum. 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 Northern America reached X ha, approximately equating the previous year's figure. Over the period under review, the harvested area, however, continues to indicate a pronounced reduction. The growth pace was the most rapid in 2017 with an increase of 29%. Over the period under review, the harvested area dedicated to banana production attained the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Banana Exports

Exports in Northern America

In 2022, approx. X tons of bananas were exported in Northern America; stabilizing at 2021 figures. The total export volume increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 6.1% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, banana exports expanded rapidly to $X in 2022. The total export value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The shipments of the one major exporters of bananas, namely the United States, represented more than two-thirds of total export.

The United States was also the fastest-growing in terms of the bananas exports, with a CAGR of +1.2% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) also remains the largest banana supplier in Northern America.

In the United States, banana exports expanded at an average annual rate of +1.3% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, increasing by 7.6% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +0.1% per year.

Banana Imports

Imports in Northern America

In 2022, approx. X tons of bananas were imported in Northern America; leveling off at the year before. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 7.8% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, banana imports rose to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 4.2% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States was the largest importing country with an import of about X tons, which recorded 89% of total imports. It was distantly followed by Canada (X tons), creating an 11% share of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of bananas. At the same time, Canada (+1.1%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +1.1% from 2012-2022. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported bananas in Northern America, comprising 83% of total imports. The second position in the ranking was taken by Canada ($X), with a 17% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the United States was relatively modest.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, increasing by 4.4% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. Over the period under review, import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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 Canada ($X per ton), while the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+0.9%).

Source: IndexBox Platform

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