Global Banana Market 2025

Banana Market Size

The global banana market reduced to $X in 2022, approximately mirroring the previous year. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the global market remained at a lower figure.

Banana Production

In value terms, banana production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 13%. Over the period under review, global production hit record highs at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

The country with the largest volume of banana production was India (X tons), comprising approx. 25% 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 6.5% share.

In India, banana production increased at an average annual rate of +2.2% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: China (+0.1% per year) and Indonesia (+3.2% per year).

In 2022, the global average yield of bananas dropped modestly to X tons per ha, standing approx. at the previous year. The yield figure increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the yield increased by 5.4% against the previous year. The global yield peaked at X tons per ha in 2019; however, from 2020 to 2022, the yield stood at a somewhat 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 global banana harvested area declined slightly to X ha, approximately mirroring 2021 figures. Over the period under review, the harvested area saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the harvested area increased by 2.9%. The global harvested area peaked at X ha in 2013; however, from 2014 to 2022, the harvested area failed to regain momentum.

Banana Exports

Exports

In 2022, overseas shipments of bananas decreased by -4.7% to X tons, falling for the second consecutive year after five years of growth. In general, total exports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -9.7% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 18%. Over the period under review, the global exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, banana exports shrank to $X in 2022. Overall, total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when exports increased by 21%. Over the period under review, the global exports attained the peak figure at $X in 2021, and then dropped in the following year.

Exports by Country

In 2022, Ecuador (X tons) represented the largest exporter of bananas, constituting 32% of total exports. Costa Rica (X tons) took a 10% share (based on physical terms) of total exports, which put it in second place, followed by Guatemala (9.8%), Colombia (8.5%) and the Philippines (5.7%). The following exporters - the Netherlands (X tons), Cote d'Ivoire (X tons), the Dominican Republic (X tons), the United States (X tons), Honduras (X tons) and Mexico (X tons) - together made up 16% of total exports.

Exports from Ecuador increased at an average annual rate of +5.1% from 2012 to 2022. At the same time, the Netherlands (+21.4%), the Dominican Republic (+15.8%), Mexico (+11.3%), Cote d'Ivoire (+10.0%), Costa Rica (+2.7%), Guatemala (+2.5%), Colombia (+1.8%) and the United States (+1.2%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +21.4% from 2012-2022. Honduras experienced a relatively flat trend pattern. By contrast, the Philippines (-12.3%) illustrated a downward trend over the same period. The Philippines (+5.7 p.p.), the Netherlands (+2.8 p.p.) and the Dominican Republic (+1.5 p.p.) significantly strengthened its position in terms of the global exports, while Honduras, Costa Rica, Guatemala and Colombia saw its share reduced by -1.5%, -2.3%, -2.6% and -3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ecuador ($X) remains the largest banana supplier worldwide, comprising 35% of global exports. The second position in the ranking was taken by the Philippines ($X), with a 7.4% share of global exports. It was followed by Costa Rica, with a 7.3% share.

In Ecuador, banana exports increased at an average annual rate of +4.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Philippines (+0.9% per year) and Costa Rica (+4.3% per year).

Export Prices by Country

The average banana export price stood at $X per ton in 2022, approximately reflecting the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 6.4% against the previous year. The global export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while Guatemala ($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 (+15.0%), while the other global leaders experienced more modest paces of growth.

Banana Imports

Imports

In 2022, approx. X tons of bananas were imported worldwide; dropping by -8.4% on the year before. The total import volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 12% against the previous year. Over the period under review, global imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, banana imports reduced to $X in 2022. The total import value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by 8.1% against the previous year. Global imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, the United States (X tons), distantly followed by China (X tons), Russia (X tons), Germany (X tons) and Japan (X tons) represented the key importers of bananas, together achieving 48% of total imports. The Netherlands (X tons), the UK (X tons), France (X tons), Italy (X tons), Canada (X tons), Argentina (X tons), Poland (X tons) and Spain (X tons) followed a long way behind the leaders.

The United States experienced a relatively flat trend pattern with regard to volume of imports of bananas. At the same time, the Netherlands (+13.4%), China (+11.2%), Poland (+9.1%), Spain (+7.7%), France (+3.9%), Argentina (+2.4%), Italy (+2.1%), Russia (+1.7%) and Canada (+1.1%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in the world, with a CAGR of +13.4% from 2012-2022. Germany and Japan experienced a relatively flat trend pattern. By contrast, the UK (-2.4%) illustrated a downward trend over the same period. China (+4.9 p.p.) and the Netherlands (+2.9 p.p.) significantly strengthened its position in terms of the global imports, while the UK and the United States saw its share reduced by -2.3% and -3.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X), China ($X) and Russia ($X) constituted the countries with the highest levels of imports in 2022, together comprising 32% of global imports. Germany, Japan, the Netherlands, France, the UK, Italy, Canada, Poland, Argentina and Spain lagged somewhat behind, together comprising a further 41%.

Among the main importing countries, the Netherlands, with a CAGR of +14.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average banana import price stood at $X per ton in 2022, growing by 1.5% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 3% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 France ($X per ton), while the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+5.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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