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
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.
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Attributes |
Details |
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Report Title |
Banana Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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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) |
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Regional Scope |
Asia Pacific, North America, Europe, Latin America, and Middle East & Africa |
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Report Coverage |
Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast |
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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.
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 (000’ 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