In 2022, the global Cavendish banana market was estimated to have acquired USD 16.6 billion. Changing consumer preferences towards wellness and health will aid the sales to USD 25.74 billion by 2033, garnering a CAGR of 4.3% during the forecast period, 2023 to 2033.
A tropical fruit, bananas are cultivated all over the world in hotter climates. India will produce about 26.3% of all bananas worldwide in 2020, making it the world's top banana grower, according to Food and Agriculture Organization Statistics (FAOSTAT).
The majority of nations and market participants have concentrated on creating sustainable marketing as well as processing systems for bananas globally in order to minimize the harm that trade disruptions and natural disasters could do to the market's expansion. This created a special attention on the Cavendish bananas, a popular variant in the Asian countries.
The market is being driven by consumers' desire to maintain a healthy weight and their adoption of healthy eating practices. Cavendish bananas are a well-liked on-the-go snack since they are readily available, very portable, and simple to consume.
In nations from Africa, Latin America, Asia, Puerto Rico, the Pacific Islands, Cuba, and other Caribbean islands, banana is a common ingredient in many ethnic cuisines. The wide range of ethnic meals made with bananas and the growing interest in various, exotic cuisines among customers worldwide are positive signs for the Cavendish banana industry.
| Report Attribute | Details |
|---|---|
| Estimated Market Value (2022) | USD 16.6 billion |
| Expected Market Value (2023) | USD 279 billion |
| Projected Forecast Value (2033) | USD 25.74 billion |
| Anticipated Growth Rate (2023 to 2033) | 4.3% CAGR |
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During the historical period of 2018 to 2022, the global Cavendish banana market experienced a growth of CAGR of 2.9%. By the end of 2018, this market was valued at USD 192.25 billion.
The need for extremely nutritious items to meet nutritional needs has increased along with the prevalence of sedentary lifestyles. Manufacturers are creating fresh goods using cutting-edge superfoods like banana, turmeric, kiwi, and many others to give unusual flavor in addition to high nutritional content, which goes hand in hand with the introduction of these healthy foods as superfoods.
The conventional kind of Cavendish banana will keep on accounting for the majority of market sales in the Cavendish banana sector. In 2022, as a result of such factors, the demand rose and sales in this market went beyond USD 16.6 billion in 2022.
Cavendish Bananas are a Natural Source of Folic Acid with several other Health Benefits
Nutritionists frequently suggest eating bananas when pregnant. This is due to the advantages of one nutrient's content. A naturally occurring form of folic acid that is simple for the fetus to absorb in the womb is the Cavendish banana. This promotes the development of the fetus's brain and spinal cord. Folic acid deficiency during pregnancy can interfere with a baby's spinal cord and brain development. A pregnant woman needs to ensure that her body has adequate folic acid.
People who have anemia experience fatigue and weakness which is due to the body's lower-than-normal levels of red blood cells. A Cavendish banana has adequate iron, or Fe, and thus the body may produce more red blood cells and assist anemic individuals get rid of the symptoms they have.
People who experience digestive or gastrointestinal issues may find that the benefits of Cavendish bananas aid in the healing of these issues. The process is straightforward and easy to follow: just drink the juice of bananas mixed with milk every day. The Cavendish banana and various other varieties of banana are well recognized for reducing stomach acid. These are great source to calm one’s appetite.
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Cavendish Bananas can lead to Panama Disease, which will impede the Market Growth
The Cavendish bananas makes up 90% of the global total bananas shipped to developed nations. The Cavendish is susceptible to Tropical Race 4, sometimes known as Panama disease, a fungal infection that is now destroying banana fields all over the world.
The virtually genetically identical plants that bear Cavendish bananas are even more susceptible to the spread of disease because they lack seeds. These factors can lead on to decreased sales of Cavendish bananas over the forecast period.
Organic Cavendish Bananas will be High in Demand during the Forecast Period
By product type, the organic segment is anticipated to be the dominant segment in the global market for Cavendish bananas during the forecast period. In 2022, this segment acquired over 40% of the global market share.
People with diabetes, particularly type 2 diabetes, strongly prefer the organic Cavendish bananas. This is because the sugar content in a Cavendish banana is straightforward and uncomplicated for the body to utilize. It can therefore aid diabetics in managing their blood sugar levels.
Consuming an organic Cavendish banana is an effective way to support the diet. This is due to the fact that the complex carbohydrates in Cavendish bananas have little impact on the rapid rise in glucose levels. Cavendish bananas are also renowned for having less fat, making them a healthy addition to a diet. The Cavendish banana's fiber promotes weight loss and quickens the process of metabolism in the body.
The Online Retail segment will be a Lucrative Option to Buy the Cavendish Bananas
In 2022, the online retail segment occupied a significant share of the market. It had acquired a market share of 24% in 2022. Online retail channels have proven to be tough competitor for the direct sales channel nowadays.
Be it the quality of the food or the freshness of the fruits, the online channel are adopting various measure to attract the consumers. They are also promoting their fast-delivery options, like 30 minutes delivery or half-day delivery, even in the case of fruits like the Cavendish bananas.
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High Production and Demand of Cavendish Banana is Propelling the Growth
According to Future Market Insights, Asia Pacific region will lead the Cavendish banana market in 2022 and will do so throughout the forecast period. The market was estimated to have acquired around 55% revenue in 2022.
India is a significant producer of bananas in the Asia Pacific, with an output of 31,504,000 metric tonnes from a plantation of 878,000 hectares in 2020. China and Indonesia are the next two largest producers.
Since the majority of the bananas grown in the nation are consumed locally, India's banana exports, estimated at USD 142889 thousand in the year 2021, only made up 1% of global exports. The Asia-Pacific region's per capita consumption is rising as a result of population growth. Producers around the region are raising output levels in response to the rising demand.
Governments in the area favor Cavendish banana cultivation and export because of their significant potential for export to the rest of the world. In accordance with the Cluster Development Project (CDP), the National Horticulture Board of India stated in April 2022 that the cultivation and shipment of bananas, including the Cavendish bananas, will be expanded in Anantapur, Kurnool, and Kadapa divisions in the state of Andhra Pradesh. The project seeks to export more than 75,000 metric tons of bananas by enhancing the export infrastructure present in the cluster.
Increased Export of Cavendish Bananas to drive the Sales During the Forecast Period
The North American market for Cavendish bananas is likely to be a lucrative one for nations like the United States. They are anticipated experience a fast-growing CAGR. The United States market is expected to rise at a 4.1% CAGR during the forecast period.
The demand for Cavendish bananas is mainly due to increased exports for bananas and reliability on these fruits as a healthy delicacy. Cavendish bananas have high nutritional value as compared to the other kinds available in the United States. This is drawing the attention of the consumers and hence the demand is expected to inflate during the forecast period of 2023 to 2033.
The key players in this market include:
Some of the products being launched by the key players are:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.3% from 2023 to 2033 |
| Market value in 2023 | USD 16.9 billion |
| Market value in 2033 | USD 25.74 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | USD billion in value |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product, Application, Sales Channel, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Mexico, Brazil, Germany, United Kingdom, France, Spain, Italy, Japan, China, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC countries, South Africa, Israel |
| Key Companies Profiled | All Nippon Airways Trading Co Ltd.; Exporganic S.A.; DISCOVERY ORGANICS; Salix Fruits; Agroexport Carmita; Union de Bananeros de Uraba; GinaFruit S.A.; Chiquita Brands International Sàrl; Dole Food Company; Fresh Del Monte Produce Incorporated; Pisum Food Services Private Limited; Reybanpac, Rey Banano del Pacífico C.A. |
| Customization & Pricing | Available on Request |
The market is estimated to secure a valuation of USD 17.8 billion in 2023.
All Nippon Airways Trading Co Ltd. and Exporganic S.A. are the top market players.
The global market size is predicted to reach USD 26.8 billion by 2033.
Household (Retail) segment is likely to remain preferred through 2033.
From 2018 to 2022, the market held a CAGR of 2.9%.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Organic Cavendish Banana 5.2. Conventional Cavendish Banana 5.3. Organic Fairtrade Cavendish Banana 5.4. Conventional Fairtrade Cavendish Banana 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Food and Beverage Processing 6.2. Cosmetic and Personal Care 6.3. Pharmaceutical & Supplements 6.4. Animal Feed 6.5. Foodservice (HoReCa) 6.6. Household (Retail) 6.7. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 7.1. Direct sales 7.2. Retail sales 7.2.1. Modern Trade 7.2.2. Convenience Store 7.2.3. Departmental Store 7.2.4. Online Retailers 7.2.5. Traditional Grocery Store 7.2.6. Other sales Channel 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. All Nippon Airways Trading Co Ltd. 16.2. Exporganic S.A. 16.3. DISCOVERY ORGANICS 16.4. Salix Fruits 16.5. Agroexport Carmita 16.6. Union de Bananeros de Uraba 16.7. GinaFruit S.A. 16.8. Chiquita Brands International Sàrl 16.9. Dole Food Company 16.10. Fresh Del Monte Produce Incorporated 16.11. Pisum Food Services Private Limited 16.12. Reybanpac, Rey Banano del Pacífico C.A. 17. Assumptions & Acronyms Used 18. Research Methodology
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Cavendish Banana Market
