Bananas Global Market Report 2024

Description

A banana is a curved, yellow fruit with thick skin and soft, sweet flesh, belonging to the Musaceae family of flowering tropical plants. Bananas are rich in nutrients, providing a significant amount of carbohydrates, dietary fiber, potassium, manganese, and vitamins B6 and C.

The main types of bananas include dessert bananas and plantains. Dessert bananas are widely consumed globally for their sweet taste, soft texture, and nutritional benefits, making them a staple in many diets. These bananas are categorized into premium and standard segments, commonly traded in wholesale, retail, and export markets. They find diverse applications in various industries, including food, medicine, and ornamental purposes.

The bananas market research report is one of a series of new reports from The Business Research Company that provides bananas market statistics, including bananas industry global market size, regional shares, competitors with a bananas market share, detailed bananas market segments, market trends and opportunities, and any further data you may need to thrive in the bananas industry. This bananas market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The bananas market size has grown steadily in recent years. It will grow from $135.31 billion in 2023 to $138.34 billion in 2024 at a compound annual growth rate (CAGR) of 2.2%. The growth observed in the historical period can be attributed to several factors, including a significant increase in import demand, abundant supply growth, rising demand for bananas due to their nutritional value, increased export earnings, and the development of new banana varieties.

The bananas market size is expected to see steady growth in the next few years. It will grow to $153.47 billion in 2028 at a compound annual growth rate (CAGR) of 2.6%. The projected growth in the forecast period can be attributed to several factors, including the integration of bananas into diverse culinary traditions and innovative food products, adoption of water-efficient irrigation techniques and sustainable water management practices, increased investment in research and development (R&D) to address disease resistance and post-harvest losses, government-led food security initiatives and investments in agricultural development, and the expansion of e-commerce platforms and direct-to-consumer sales channels. Major trends anticipated in this period include the adoption of precision agriculture techniques, implementation of blockchain technology to enhance traceability, transparency, and trustworthiness in the banana supply chain, exploration of vertical farming methods such as hydroponics and aeroponics to grow bananas in controlled indoor environments, and advancements in biotechnology including gene editing and genetic engineering to develop disease-resistant banana varieties.

The rising trend of health consciousness is expected to drive the growth of the bananas market in the future. Health consciousness refers to an increased awareness and concern for physical and mental well-being among consumers. This trend is fueled by greater access to health information and a growing desire for longevity and improved quality of life. Bananas, known for their versatility and numerous health benefits, are becoming a favored choice among health-conscious individuals seeking to enhance their overall health and well-being. For example, data from May 2023, provided by the International Food Information Council, a US-based nonprofit organization, indicated that 52% of Americans reported following a specific diet or eating pattern in 2022, marking a significant increase from previous years' averages of 39% in 2021 and 43% in 2020. This demonstrates how increasing health consciousness is propelling the growth of the bananas market.

Key players in the bananas market are actively developing new varieties, such as frozen banana bites, to offer enhanced options to consumers. Frozen and coated banana bites are a delectable and healthy snack made by dipping banana slices in various coatings and then freezing them until firm. For instance, in November 2023, Pukpip, a UK-based food and beverage company, introduced its frozen treat, Real Banana Bites. This innovative product provides consumers with a delicious and indulgent snack experience while still offering the nutritional benefits of bananas. Pukpip's Real Banana Bites combine the natural sweetness of bananas with the rich flavor of milk chocolate, appealing to consumers seeking a unique frozen snack option.

Major companies in the bananas market are focusing on introducing innovative solutions such as banana-powdered supplements to gain a competitive edge. Banana powder supplements are dietary supplements derived from processed bananas in powdered form. For instance, Banana Feeds Australia, an Australia-based manufacturer of banana-based feed supplements for animals, launched BEE-COMPLETE powder in 2021 for the supplementation of bee colonies and hive health. This natural supplement, made from 100% whole-dried green bananas, is designed to enhance the health and performance of bee colonies involved in honey production and pollination services. By utilizing whole green bananas, including the pulp, peel, stem, and flower ends, BEE-COMPLETE powder maximizes the nutritional benefits of green bananas to support bee colony health and productivity.

Major companies operating in the bananas market are Trader Joe's Company, Dole Food Company Inc., Del Monte Foods Inc., Chiquita Brands LLC, Chestnut Hill Farms, International Fruit Company LLC (IFCO), Sun-Maid Growers of California, Torn & Glasser Inc., Augason Farms Inc., Woodstock Farms Manufacturing, Crispy Green Inc., Terra Ingredients LLC, Turbana Corporation, Pacific Produce LLC, Natierra Inc., Brothers All Natural, Bare Snacks, Mundo Foods LLC, Wel-Bloom Bio-Tech Corporation, Valley Food Storage LLC, Organics Unlimited Inc., Equifruit Inc., Nature's All Foods LLC, Harmony House Foods Inc., Bonita Fruit Inc

Asia-Pacific was the largest region in the bananas market in 2023. Middle East is expected to be the fastest-growing region in the forecast period. The regions covered in the bananas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the bananas market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The bananas market consists of sales of banana chips, banana bread, banana smoothies, banana jam, and banana ice cream. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Bananas Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on bananas market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for bananas? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The bananas market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:1) By Type: Bananas; Plantains
2) By Product Characteristics: Premium Segment; Standard Segment
3) By Industry Practices: Wholesale Market; Retail Market; Export Market
4) By Application: Edible; Medical; Ornamental
Companies Mentioned: Trader Joe's Company; Dole Food Company Inc.; Del Monte Foods Inc.; Chiquita Brands LLC; Chestnut Hill Farms
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Product Code: r17702

1. Executive Summary

2. Bananas Market Characteristics

3. Bananas Market Trends And Strategies

4. Bananas Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Bananas Market Size and Growth

5.1. Global Bananas Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Bananas Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Bananas Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Bananas Market Segmentation

6.1. Global Bananas Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Bananas
Plantains
6.2. Global Bananas Market, Segmentation By Product Characteristics, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Premium Segment
Standard Segment
6.3. Global Bananas Market, Segmentation By Industry Practices, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Wholesale Market
Retail Market
Export Market
6.4. Global Bananas Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Edible
Medical
Ornamental

7. Bananas Market Regional And Country Analysis

7.1. Global Bananas Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Bananas Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Bananas Market

8.1. Asia-Pacific Bananas Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Bananas Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Bananas Market, Segmentation By Industry Practices, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Bananas Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Bananas Market

9.1. China Bananas Market Overview
9.2. China Bananas Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Bananas Market, Segmentation By Industry Practices, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Bananas Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Bananas Market

10.1. India Bananas Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Bananas Market, Segmentation By Industry Practices, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Bananas Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Bananas Market

11.1. Japan Bananas Market Overview
11.2. Japan Bananas Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Bananas Market, Segmentation By Industry Practices, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Bananas Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Bananas Market

12.1. Australia Bananas Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Bananas Market, Segmentation By Industry Practices, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Bananas Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Bananas Market

13.1. Indonesia Bananas Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Bananas Market, Segmentation By Industry Practices, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Bananas Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Bananas Market

14.1. South Korea Bananas Market Overview
14.2. South Korea Bananas Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Bananas Market, Segmentation By Industry Practices, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Bananas Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Bananas Market

15.1. Western Europe Bananas Market Overview
15.2. Western Europe Bananas Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Bananas Market, Segmentation By Industry Practices, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Bananas Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Bananas Market

16.1. UK Bananas Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Bananas Market, Segmentation By Industry Practices, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Bananas Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Bananas Market

17.1. Germany Bananas Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Bananas Market, Segmentation By Industry Practices, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Bananas Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Bananas Market

18.1. France Bananas Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Bananas Market, Segmentation By Industry Practices, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Bananas Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Bananas Market

19.1. Italy Bananas Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Bananas Market, Segmentation By Industry Practices, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Bananas Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Bananas Market

20.1. Spain Bananas Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Bananas Market, Segmentation By Industry Practices, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Bananas Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Bananas Market

21.1. Eastern Europe Bananas Market Overview
21.2. Eastern Europe Bananas Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Bananas Market, Segmentation By Industry Practices, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Bananas Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Bananas Market

22.1. Russia Bananas Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Bananas Market, Segmentation By Industry Practices, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Bananas Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Bananas Market

23.1. North America Bananas Market Overview
23.2. North America Bananas Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Bananas Market, Segmentation By Industry Practices, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Bananas Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Bananas Market

24.1. USA Bananas Market Overview
24.2. USA Bananas Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Bananas Market, Segmentation By Industry Practices, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Bananas Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Bananas Market

25.1. Canada Bananas Market Overview
25.2. Canada Bananas Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Bananas Market, Segmentation By Industry Practices, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Bananas Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Bananas Market

26.1. South America Bananas Market Overview
26.2. South America Bananas Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Bananas Market, Segmentation By Industry Practices, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Bananas Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Bananas Market

27.1. Brazil Bananas Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Bananas Market, Segmentation By Industry Practices, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Bananas Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Bananas Market

28.1. Middle East Bananas Market Overview
28.2. Middle East Bananas Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Bananas Market, Segmentation By Industry Practices, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Bananas Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Bananas Market

29.1. Africa Bananas Market Overview
29.2. Africa Bananas Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Bananas Market, Segmentation By Industry Practices, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Bananas Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Bananas Market Competitive Landscape And Company Profiles

30.1. Bananas Market Competitive Landscape
30.2. Bananas Market Company Profiles
- 30.2.1. Trader Joe's Company
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Dole Food Company Inc.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Del Monte Foods Inc.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Chiquita Brands LLC
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Chestnut Hill Farms
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Bananas Market Other Major And Innovative Companies

31.1. International Fruit Company LLC (IFCO)
31.2. Sun-Maid Growers of California
31.3. Torn & Glasser Inc.
31.4. Augason Farms Inc.
31.5. Woodstock Farms Manufacturing
31.6. Crispy Green Inc.
31.7. Terra Ingredients LLC
31.8. Turbana Corporation
31.9. Pacific Produce LLC
31.10. Natierra Inc.
31.11. Brothers All Natural
31.12. Bare Snacks
31.13. Mundo Foods LLC
31.14. Wel-Bloom Bio-Tech Corporation
31.15. Valley Food Storage LLC

32. Global Bananas Market Competitive Benchmarking

33. Global Bananas Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Bananas Market

35. Bananas Market Future Outlook and Potential Analysis

35.1 Bananas Market In 2028 - Countries Offering Most New Opportunities
35.2 Bananas Market In 2028 - Segments Offering Most New Opportunities
35.3 Bananas Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer