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World - Bananas and Plantains - Market Analysis, Forecast, Size, Trends And Insights
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View PricingIndia and China Remain the Largest Banana Markets in the World
IndexBox has just published a new report "World: Bananas - Market Report. Analysis And Forecast To 2025". Here is a summary of the report's key findings.
The Global Banana Consumption Resumed Its Growth
The global banana consumption stood at $X in 2016, which was X% more than the year before. This figure reflects total revenue of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price).
The value of global banana market as a whole was characterised by an upward trend over the period from 2007 to 2016. However, the trend pattern was not consistant: while from 2007 to 2012, the world banana market was growing steadily, this growth was followed by a decline in market volume over the next three years. In 2016, the market recovered, reaching its highest level in value terms.
In physical terms, the global banana consumption grew by +X% per year, amounting to X tons in 2016. From 2011 to 2016 banana market fluctuating mildly, after the period of steady growth. Given the stability of consumption volumes in physical terms, fluctuations in market value could be explained by price changes.
In the Medium Term, the Global Banana Market is Set to Continue Moderate Growth
Bananas are one of the most popular fruits in the world. They are not only consumed raw, but are also used in making juices, sauces, baked goods and various dishes.
In India, which accounts for a quarter of bananas consumed worldwide, the upward trend in consumption is expected to continue, due to the population growth and large volumes of domestically grown bananas available, which fully satisfy the market demand. In other major Asian markets, China and Indonesia, consumption is also expected to increase with continuing population growth.
Average per capita consumption in Asia, however, is inferior to that in the African countries, where bananas are a staple food. African countries, namely Angola, Tanzania, Rwanda stood amongst the leaders in terms of per capita consumption.
As for the developed countries, in the U.S. and Europe bananas are considered a quick healthy snack, convenient in a fast-paced life. Low per capita consumption in the U.S. suggests opportunities for its further growth against the backdrop of population and income growth.
In the medium term, the global banana market is set to continue moderate growth. The expected population growth will drive the consumption of bananas in the world. In the medium term, the increase in banana consumption is projected to average +X% annually from 2017 to 2025. By 2025, the market volume is expected to reach X tons.
India and China Remain the Largest Banana Markets in the World
In 2016, India (X%), China (X%), Indonesia (X%), Brazil (X%), Philippines (X%), the U.S. (X%), Angola (X%), Tanzania (X%), and Rwanda (X%) were the largest banana markets in the world, based on physical terms. The above countries together account for about X% of the world consumption of bananas. In addition, most of these countries, except for the U.S., were also the leading producers of bananas in the world.
Amongst these countries, Angola (+X%) and China (+X%) had the highest annual growth rates of bananas consumption over the period under review.
India and China constitute the largest banana markets, however, these countries had the lowest volume of per capita consumption: X kg/per person and X kg/per person, respectively. At the same time, African countries, Rwanda (X kg/year), Angola (X kg/year), Tanzania (X kg/year), remain leaders in per capita consumption, which is explained by the relatively small population and the fact that bananas are a traditional local fruit, which, combined with a lower standard of living compared to developed countries, determines the significant role of bananas in people's diets.
Global Banana Production Posted Moderate Gains
Production of banana stood at $X in 2016, which was $X (or X%) more than in 2015. In general, the production of bananas in value terms has had an upward trend since the beginning of the period up to 2013, when it started to decline as a result of lower producer prices. It was only in 2016 when production recovered and reached its new peak.
In physical terms, banana production stood at X tons, which was X% less than year before. However, overall, the global banana production grew by +X% over the period under review.
In 2016, harvested area of bananas amounted to X ha, with minor fluctuations from 2007 to 2016. Banana yield grew gradually from X ton/ha in 2007 to X ton/ha in 2016.
All Key Banana Producers Increased Their Production Volume
In 2016, India (X%), China (X%), Indonesia (X%), Brazil (X%), Ecuador (X%), Philippines (X%), Angola (X%), Guatemala (X%), Tanzania (X%), and Rwanda (X%), were the largest and main banana producing countries, together making up X% of total output.
Angola (+X%), China (+X%), and Guatemala (+X%) had the highest growth rate in banana production among leading producing countries.
However, among the main producers, the largest harvested areas were in India (X%), Brazil (X%), Tanzania (X%), Philippines (X%), China (X%), and Rwanda (X%), together accounting for X% of harvested area in the world.
The largest yield had Indonesia (X ton/ha), Guatemala (X ton/ha), Ecuador (X ton/ha), India (X ton/ha), China (X ton/ha) and Angola (X ton/ha).
Approx. X% of Bananas Consumed Worldwide Are Imported
Bananas will continue to be highly traded, fueled by increasing consumption, trade liberalisation policies, and intense global and regional integration. High trade intensity is determined mainly by the substantial distances between the main countries of banana production and key consuming countries, which is especially characteristic for the European countries and the U.S. In the period from 2007 to 2016, the share of imports in consumption remained relatively stable at the level of X%.
Ecuador Leads Global Banana Exports
In 2016, the volume of global exports totalled X tons, increasing gradually by on average +X% per year from 2007-2016; however, some noticeable fluctuations occurred in certain years. In value terms, it amounted to $X in 2016; the trend pattern generally mirrored that of the volume of imports, but the growth was even more pronounced due to an increase in prices.
Ecuador ranks first in terms of global banana exports with a share of X% of the total exports (in physical terms). In 2016, Ecuador exported X tons of bananas, which accounted for X% of its total banana output. Of this amount, X% was supplied to Russia, where bananas from Ecuador dominated local consumption. Besides Ecuador, the largest global suppliers in 2016, all lagging somewhat behind in terms of the volume of exports, were Guatemala (X tons), Costa Rica (X tons), Colombia (X tons) and the Philippines (X tons); together they comprised another X% of global exports. Guatemala was the fastest growing supplier from 2007 to 2016, with the volume of exports expanding at an average annual rate of +X% per year from 2007-2016.
Despite being the largest global producers of bananas, India and China did not export much of their production, meaning that it was consumed domestically. Another country with large banana exports was Belgium (X tons in 2016), but taken into consideration the fact that Belgium doesn't grow any bananas, and the imports volumes were also high, banana shipments from Belgium should be considered re-exports.
The U.S. Remained the Major Importer of Bananas
The volume of global imports totalled X tons in 2016, which equated to $X. A trend pattern of imports generally mirrored that of exports: these trade flows globally complement each other.
In 2016, the U.S. (X tons), Germany (X tons), Russia (X tons), Belgium (X tons), the UK (X tons), Japan (X tons) and China (X tons) constituted the leading destinations of banana imports, together comprising X% of global imports. Amongst the major importing countries, China, (+X% per year) and Russia (+X% per year) gained the highest annual growth rates from 2007 to 2016. While the share of China increased slightly from X% in 2007 to X% in 2016, the share of Germany and the U.S., both contracted by the same -X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.
Do you want to know more about global banana market? Get the latest trends and insight from our report. It includes a wide range of statistics on
- banana market share
- banana prices
- banana industry
- banana sales
- banana import
- banana export
- banana market forecast
- banana price forecast
- key banana producers
This report provides an in-depth analysis of the global banana and plantain market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 486 - Bananas
- FCL 489 - Plantains
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
- HARVESTED AREA AND YIELD BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Harvested Area, By Country, 2012-2023
- Yield, By Country, 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Harvested Area, By Country, 2023
- Harvested Area, By Country, 2012-2023
- Yield, By Country, 2012-2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023