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

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

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.

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