U.S.: Banana Market 2025

Banana Market Size in the U.S.

In 2022, after three years of decline, there was growth in the U.S. banana market, when its value increased by 2.9% to $X. Overall, consumption, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 4.1%. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Banana Production in the U.S.

In value terms, banana production fell to $X in 2022. Overall, production, however, recorded a deep setback. The pace of growth was the most pronounced in 2019 with an increase of 8.2% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

In 2022, the average yield of bananas in the United States stood at X tons per ha, increasing by 3.8% against the previous year's figure. In general, the yield, however, saw a deep slump. The most prominent rate of growth was recorded in 2019 with an increase of 30% against the previous year. The banana yield peaked at X tons per ha in 2014; however, from 2015 to 2022, the yield remained at a 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 total area harvested in terms of bananas production in the United States was estimated at X ha, approximately reflecting the previous year's figure. Overall, the harvested area, however, continues to indicate a pronounced contraction. The pace of growth was the most pronounced in 2017 when the harvested area increased by 29% against the previous year. 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 stood at a somewhat lower figure.

Banana Exports

Exports from the U.S.

For the third consecutive year, the United States recorded decline in overseas shipments of bananas, which decreased by -0.8% to X tons in 2022. The total export volume increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 6.1%. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, banana exports rose 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 consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Canada (X tons) was the main destination for banana exports from the United States, with a approx. 98% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Canada stood at +1.1%.

In value terms, Canada ($X) also remains the key foreign market for bananas exports from the United States.

From 2012 to 2022, the average annual growth rate of value to Canada amounted to +1.1%.

Export Prices by Country

In 2022, the average banana export price amounted to $X per ton, growing by 7.6% against the previous year. In general, the export price saw 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 Canada.

From 2012 to 2022, the rate of growth in terms of prices for Canada amounted to -0.0% per year.

Banana Imports

Imports into the U.S.

For the fifth year in a row, the United States recorded decline in purchases abroad of bananas, which decreased by -0.6% to X tons in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 4.8% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, banana imports reached $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 4%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Guatemala (X tons) constituted the largest banana supplier to the United States, with a 43% share of total imports. Moreover, banana imports from Guatemala exceeded the figures recorded by the second-largest supplier, Costa Rica (X tons), threefold. Ecuador (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from Guatemala totaled +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Costa Rica (-2.3% per year) and Ecuador (-1.4% per year).

In value terms, Guatemala ($X) constituted the largest supplier of bananas to the United States, comprising 41% of total imports. The second position in the ranking was taken by Costa Rica ($X), with a 16% share of total imports. It was followed by Ecuador, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Guatemala totaled +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Costa Rica (-2.0% per year) and Ecuador (-3.1% per year).

Import Prices by Country

The average banana import price stood at $X per ton in 2022, growing by 3.8% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Colombia ($X per ton) and Costa Rica ($X per ton), while the price for Ecuador ($X per ton) and Guatemala ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Honduras (+0.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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