Cavendish Banana Market Growth & Business Strategies | CAGR : 4.4%

Cavendish Banana Market Size Worth $25.62 Billion By 2032 | CAGR: 4.4%


The global cavendish banana market size is expected to reach USD 25.62 billion by 2032, according to a new study by Polaris Market Research. The report “Cavendish Banana Market Share, Size, Trends, Industry Analysis Report, By Product (Organic and Conventional); By Application; By Sales Channel; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Growing investments in the market among several companies and businesses is one of the foremost factors significantly heightening the revenue of the market globally. Investments in the Cavendish banana market facilitate the adoption of modern farming techniques and technologies. For instance, in August 2022, three Philippine-based companies, Tayan Banana Farm, Usman Banana Farm, and Abai Banana Farms, invested around USD 8.7 billion in the Maguindanao province.

These investments are supposed to boost banana production, especially in the town where the Cavendish Cardava types are cultivated most extensively. Increased investment enables research and development activities focused on the global market. Furthermore, investments in marketing, branding, and market research enable businesses to penetrate new markets, identify consumer preferences, and establish strong distribution networks. This results in increased export opportunities and global market presence.

Price volatility also played a major role in the growth of the global market during the pandemic. Fluctuations in supply and demand, disruptions in the supply chain, and increased production and transportation costs have influenced banana prices. Some regions experienced price increases due to supply shortages, while others saw price declines due to reduced demand and oversupply. Moreover, the impact of COVID-19 on the cavendish banana market varies by region and is influenced by factors such as government policies, local regulations, and the severity and duration of the pandemic.

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High consumer demand for bananas is one of the vital factors escalating the growth of global market. Bananas are widely consumed due to their taste, convenience, affordability, and nutritional benefits. The demand for cavendish bananas remains strong in both domestic and international markets, leading to continuous market growth. In addition to this, cavendish bananas are versatile and can be consumed as a standalone fruit, used in various culinary applications, or processed into value-added products such as banana chips, purees, and juices. The versatility of this type of bananas opens up opportunities in multiple market segments, including fresh produce, food and beverage industries, and the snack food sector.

Cavendish Banana Market Report Highlights

  • Organic segment held the largest share, primarily attributed to growing consumer preference towards healthy & organic food
  • Food & beverages processing held the largest share, due to growing adoption of the cavendish banana in various food processing
  • Online channels expected to grow at steady rate, due to easy operation, and fast delivery options
  • North America garnered the largest share due to growing demand for nutritional food and enhancing health concern among a huge population
  • The global players include Exporganic, Salix Fruits, Agroexport Carmita, GinaFruit, Chiquita Brands, Dole Food, Fresh Del Monte, Pisum Food Services, and Reybanpac.

Polaris Market Research has segmented the Cavendish Banana market report based on product, application, sales channel, and region:

Cavendish Banana, Product Outlook (Revenue - USD Billion, 2019-2032)

  • Organic
  • Conventional

Cavendish Banana, Application Outlook (Revenue - USD Billion, 2019-2032)

  • Food and Beverage Processing
  • Cosmetic and Personal Care
  • Pharmaceutical & Supplements
  • Animal Feed
  • Foodservice (HoReCa)
  • Household (Retail)
  • Others

Cavendish Banana, Sales Channel Outlook (Revenue - USD Billion, 2019-2032)

  • Direct Sales
  • Retail Sales
  • Modern Trade
  • Convenience Store
  • Departmental Store
  • Online Retailers
  • Traditional Grocery Store
  • Other Sales Channels

Cavendish Banana, Regional Outlook (Revenue - USD Billion, 2019-2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Cavendish Banana Market Report Scope

Report Attributes

Details

Market size value in 2023

USD 17.36 billion

Revenue forecast in 2032

USD 25.62 billion

CAGR

4.4% from 2023 – 2032

Base year

2022

Historical data

2019– 2021

Forecast period

2023– 2032

Quantitative units

Revenue in USD billion and CAGR from 2023 to 2032

Segments covered

By Product, By Application, By Sales Channel, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Customization

Report customization as per your requirements with respect to countries, region and segmentation.

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  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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