BANANA MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 Market research on bananas

During the forecast period, it is expected that the worldwide banana market will grow at a CAGR of 4.5%.

The banana is a tropical fruit that is cultivated all over the world in hotter climates. India will produce roughly 26.3% of all bananas worldwide in 2020, making it the world's top banana grower, according to Food and Agriculture Organisation Statistics (FAOSTAT). Following the COVID-19 epidemic, the majority of nations and market participants have concentrated on creating sustainable marketing and processing systems for bananas globally in order to minimise the harm that trade disruptions and natural disasters could do to the market's expansion.

After wheat, rice, and maize, bananas are the fourth most important food crop in terms of production, and they are the most consumed fruit in the world. One of the main fruits exported worldwide, bananas are also a significant food and source of income. ITC Trademap estimates that in 2021, the value of worldwide banana exports exceeded USD 13,049 million. With 26% of global exports, Ecuador is the leading banana exporter. The other major exporters of bananas in the world are Colombia, Costa Rica, and the Philippines. With a 16.7% share of global imports in 2021, the United States is the world's top banana importer.

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