IndexBox, Inc. has just published a new report “World – Bananas – Market Analysis, Forecast, Size, Trends and Insights“. Here is a summary of the report’s key findings.

Banana Imports

In 2017, imports of bananas worldwide totaled 21M tonnes, approximately reflecting the previous year level. The total import volume increased at an average annual rate of +1.8% over the period from 2007 to 2017; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2010 when import increased by 5% year-to-year. Global import peaked in 2017, and are likely to see steady growth in the near future.

In value terms, banana imports stood at $15B in 2017. The total import value increased at an average annual rate of +3.2% over the period from 2007 to 2017; the trend pattern remained relatively stable, with only minor fluctuations in certain years. Over the period under review, banana imports reached its maximum level in 2017, and are expected to retain its growth in the immediate term.

Banana Imports By Country

In 2017, the U.S. (3.6M tonnes), distantly followed by Russia (1.5M tonnes), Belgium (1.4M tonnes), Germany (1.4M tonnes), the UK (1.2M tonnes), China (1M tonnes), and Japan (986K tonnes) were the major importers of bananas, together mixed up 53% of total imports. Italy (775K tonnes), the Netherlands (733K tonnes), France (687K tonnes), Canada (598K tonnes), and Argentina (489K tonnes) followed a long way behind the leaders.

From 2007 to 2017, average annual rates of growth with regard to banana imports into the U.S. stood at -1.6%. At the same time, the Netherlands (+13.4%), China (+12.1%), Russia (+4.7%), Argentina (+4.4%), France (+3.1%), Canada (+2.4%), the UK (+1.6%), Belgium (+1.4%), and Italy (+1.2%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest growing importer in the world, with a CAGR of +13.4% from 2007-2017. Japan and Germany experienced a relatively flat trend pattern. The U.S. (3%) significantly strengthened its position in terms of the global imports, while the Netherlands, Russia, and China saw its share reduced by -2.5%, -2.7%, and -3.3% from 2007 to 2017, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest banana markets worldwide were the U.S. ($2.8B), Belgium ($1.4B), and Russia ($1.1B), together comprising 36% of global imports. Germany, Japan, the UK, China, France, Italy, the Netherlands, Canada, and Argentina lagged somewhat behind, together accounting for a further 37%.

China (+17.9% per year) experienced the highest rates of growth with regard to the imports, in terms of the main importing countries, over the last 10 year period, while the other global leaders experienced more modest paces of growth.

Banana Import Prices By Country

In 2017, the average import price for bananas amounted to $690 per tonne, surging by 5% against the previous year. Over the period from 2007 to 2017 it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2008 when import price increased by 12% from the previous year level. Over the period under review, average import price for banana attained its maximum level of $706 per tonne in 2014; however, from 2015 to 2017, it failed to regain its strength.

There were significant differences in the average import prices amongst major importing countries. In 2017, the country with the highest import price was Belgium ($967 per tonne), while Argentina ($490 per tonne) was among the lowest.

From 2007 to 2017, the most notable growth rate of import prices was attained by the U.S. (+7.8% per year), while the other global leaders experienced more modest paces of growth.

Description 

This report provides an in-depth analysis of the global banana 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 2025.

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