The bananas global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Bananas Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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 in the historic period can be attributed to significant increase in import demand, abundant supply growth, increased demand for bananas due to their nutritional value, export earnings, 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 growth in the forecast period can be attributed to 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, expansion of e-commerce platforms and direct-to-consumer sales channels. Major trends in the forecast period include 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, advancements in biotechnology, including gene editing and genetic engineering, to develop disease-resistant banana varieties.
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Scope Of Bananas Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Bananas Market Overview
Market Drivers –
The increasing health consciousness is expected to propel the growth of the bananas market going forward. Health consciousness refers to awareness and concern for physical and mental well-being. Health consciousness among consumers is increasing due to growing access to health information and the desire for longevity and quality of life. Bananas are a versatile fruit that offers a range of health benefits, making them a popular choice among health-conscious individuals looking to improve their overall health and well-being. For instance, in May 2023, according to the International Food Information Council, a US-based nonprofit organization, the percentage of Americans who reported following a diet or eating pattern in the past year rose to 52% in 2022, up from the previous four years’ averages of 39% in 2021 and 43% in 2020. Therefore, increasing health consciousness is driving the growth of the bananas market.
Market Trends –
Major companies operating in the bananas market are developing new varieties, such as frozen banana bites, to provide better options to their customers. Frozen and coated banana bites are a delicious 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, launched its frozen treat, Real Banana Bites. This innovative offering provides a delicious and indulgent treat for consumers seeking a unique frozen snack experience. Pukpip’s Real Banana Bites combine the natural sweetness of bananas with the rich flavor of milk chocolate, offering a delightful and convenient snacking option.
The bananas market covered in this report is segmented –
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
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Regional Insights –
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.
Key Companies –
Major companies operating in the bananas market report 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
Table of Contents
1. Executive Summary
2. Bananas Market Report Structure
3. Bananas Market Trends And Strategies
4. Bananas Market – Macro Economic Scenario
5. Bananas Market Size And Growth
…..
27. Bananas Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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