Banana Market Size, Share, Revenue & Industry | Report 2031

Segments - Banana Market by Product Types (Regular Bananas, Organic Bananas, and Others), Distribution Channels (Convenience Stores, Hypermarkets, Online, Supermarkets, Specialty Store, and Others), End-users (Feed Industry, Food Industry, and Others), Applications (Banana Powder, Banana Processing, Banana Puree, Banana Pulp, Banana Concentrate, Banana Beer, Banana Wine, Banana Wafers, Banana Chips, and Others), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecasts, 2023 – 2031

Author : Anuradha B. More

Fact-checked by : Vaibhav Chandola

Editor : Shruti Bhat

Report Description

The global banana market size was valued at nearly USD 13,636.21 Million in 2022 and is anticipated to reach USD 20,264.71 Million by 2031, expanding at a CAGR of 4.5% during the forecast period, 2023 – 2031. Bananas are tropical fruit with soft flesh encased in a soft, generally yellow peel that is elongated with tapering ends.

Bananas are the world's most important crop in terms of production and trade. The banana market is mostly being driven by individuals growing concerned about their health and food safety. Bananas are the most consumed fresh fruit in the world and the fourth most important food crop in terms of the gross value of production.

Banana Market Trends, Drivers, Restraints, and Opportunities

Consumer’s attention is shifting to clean and healthy food products as food and beverage technology advances and health awareness grow.
The global banana market is currently being driven by the developing food and beverage sector, as well as the increasing use of bananas in the preparation of smoothies, ice cream, desserts, pancakes, and breakfast cereals.
Natural disasters impact on organic production, distribution issues, and tight regulatory compliance might all hinder banana market.
Manufacturing clusters for industrially processed banana products have also been identified in order to focus on areas of opportunity for new businesses.

Scope of Banana Market Report

The report on banana market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes	Details
Report Title	Banana Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Product Types (Regular Bananas, Organic Bananas, and Others), Distribution Channels (Convenience Stores, Hypermarkets, Online, Supermarkets, Specialty Store, and Others), End-users (Feed Industry, Food Industry, and Others), Applications (Banana Powder, Banana Processing, Banana Puree, Banana Pulp, Banana Concentrate, Banana Beer, Banana Wine, Banana Wafers, Banana Chips, and Others)
Regional Scope	Asia Pacific, North America, Europe, Latin America, and Middle East & Africa
Report Coverage	Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast
Key Players Covered	Chiquita Brands International Sàrl; Fresh Del Monte Produce; Dole Food Company, Inc.; and Fyffes plc

Banana Market Segment Insights

Product Types Segment Analysis

On the basis of product types, the market is segregated into regular bananas, organic bananas, and others. The organic bananas segment is estimated to register high CAGR during the forecast period due to, important developments in the organic banana industry has been identified as the growing popularity of plant food items.

Various government organizations are now actively pushing plant-based diets. A plant-based diet is high in nutrients such as folate, potassium, vitamin A, vitamin C, and vitamin E, all of which lower the risk of cardiovascular disease and some other metabolic disorders.

Distribution Channels Segment Analysis

Based on distribution channels, the banana market is fragmented into convenience stores, hypermarkets, online, supermarkets, specialty stores, and others. The supermarkets segment is projected to hold a significant market share. Supermarkets are located in crowded areas, buyers acquire excellent goods at reduced costs, and shopping is convenient, which is fueling the segment.

End - Users Segment Analysis

On the basis of end-users, the market is segmented into feed industry, food industry, and others. The food industry segment is anticipated to account for a substantial share. Banana is commonly used to create puffed & cold food products, seasonings, solid beverages, and cakes.

Applications Segment Analysis

In terms of applications, the banana market is segregated into banana powder, banana processing, banana puree, banana pulp, banana concentrate, banana beer, banana wine, banana wafers, banana chips, and others.

The Banana powder segment is estimated to expand at a rapid pace in the coming years. The rising food and beverage sector, as well as increasing usage of bananas in the preparation of smoothies, ice cream, desserts, pancakes, and breakfast cereals, are driving the banana powder segment.

Regional Analysis

In terms of regions, the banana market is categorized as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. India is the world's major banana producer. However, due to population growth, per capita consumption in the Asia-Pacific is increasing. Producers all across the world are increasing production levels in response to rising demand.

Land utilization in India is restricted due to the structure of landholdings. As a result, the contract-farming model is adopted, allowing agribusiness firms to produce bananas in bigger areas while overcoming regulatory limits within the country. With the growth of cultivable land in India, production and productivity have improved dramatically.

Segments

Product Types

Regular Bananas
Organic Bananas
Others

Distribution Channels

Convenience Stores
Hypermarkets
Online
Supermarkets
Specialty Store
Others

End-users

Feed Industry
Food Industry
Others

Applications

Banana Powder
Banana Processing
Banana Puree
Banana Pulp
Banana Concentrate
Banana Beer
Banana Wine
Banana Wafers
Banana Chips
Others

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Chiquita Brands International Sàrl
Fresh Del Monte Produce
Dole Food Company, Inc.
Fyffes plc

Competitive Landscape

Key players in the banana market include Chiquita Brands International Sàrl; Fresh Del Monte Produce; Dole Food Company, Inc.; and Fyffes plc. These players have actively engaged in several development activities such as collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to increase their market share.

Banana Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Banana Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Banana Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Banana Market - Supply Chain
  4.5. Global Banana Market Forecast
     4.5.1. Banana Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Banana Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Banana Market Absolute $ Opportunity
5. Global Banana Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Banana Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Banana Demand Share Forecast, 2019-2026
6. North America Banana Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Banana Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Banana Demand Share Forecast, 2019-2026
7. Latin America Banana Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Banana Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Banana Demand Share Forecast, 2019-2026
8. Europe Banana Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Banana Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Banana Demand Share Forecast, 2019-2026
9. Asia Pacific Banana Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Banana Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Banana Demand Share Forecast, 2019-2026
10. Middle East & Africa Banana Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Banana Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Banana Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Banana Market: Market Share Analysis
  11.2. Banana Distributors and Customers
  11.3. Banana Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Chiquita Brands International Sàrl
     11.4.2. Fresh Del Monte Produce
     11.4.3. Dole Food Company, Inc.
     11.4.4. Fyffes plc