2024 Global Bananas Market Size, Share, Trends And Growth Analysis Report | Trader Joe's Company, Dole Food Company Inc., Del Monte Foods Inc., Chiquita Brands LLC, Chestnut Hill Farms

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Bananas Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $153.47 billion In 2028 At A CAGR Of 2.6% :

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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Bananas Market Major Segments
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

Key Driver - Role Of Increasing Health Consciousness In Driving Banana Market Growth

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.

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Prominent Trend - Frozen Banana Bites Revolutionize Consumer Appeal

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.

Introduction Of Banana-Powdered Supplements In The Market

Major companies operating in the bananas market are focused on introducing innovative solutions, such as banana-powdered supplements, to gain a competitive edge in the market. A banana powder supplement refers to a supplement derived from bananas that have been processed into a powdered form. For instance, in 2021, Banana Feeds Australia, an Australia-based manufacturer of banana-based feed supplements for animals, launched BEE-COMPLETE powder for the supplementation of bee colonies and bee hive health. It is a natural supplement made from 100% whole-dried green bananas. This powder is intended to improve the health and performance of bee colonies that produce honey and provide pollination services. It is made using whole green bananas, including the pulp, peel, stem, and flower ends so that all of the nutritional benefits of green bananas are maximized.

Bananas Market Players
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

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Largest And Fastest Growing Region In The Market
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.

The Table Of Content For The Market Report Include:
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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