The global Cavendish banana market is expected to be worth US$ 16.6 billion in 2022. Evolving customer preferences for health and wellness will drive sales to US$ 25.74 billion by 2033, with a CAGR of 4.3% from 2023 to 2033. Consumers’ desire to keep a healthy weight along with their adoption of healthy eating habits are what are driving the industry. Due to their accessibility, portability, and ease of consumption, Cavendish bananas are a popular on-the-go snack.
Bananas are a frequent element in many ethnic cuisines in countries from Africa, Puerto Rico, Cuba, Latin America, and Asia, other Caribbean islands. Positive indicators for the Cavendish banana sector include the great variety of ethnic foods created with bananas and the rising interest in varied, exotic cuisines among consumers globally.
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This fruit is being chosen by a large group of health-conscious consumers owing it carried health and nutritional benefits. Fatigue and weakness are symptoms of anemia, which is caused by the body’s lower-than-normal numbers of red blood cells. The body can generate more red blood cells and help anemic people get rid of their symptoms with a Cavendish banana as it carries enough iron, or Fe.
The advantages of Cavendish bananas may help people with digestive or even gastrointestinal problems recuperate from these problems. It’s simple to do and requires no effort; all you need to do is consume milk and banana juice every day. Bananas, particularly the Cavendish variety, are widely known for lowering stomach acid. They’re excellent sources for suppressing the desire to overeat.
Key Takeaways from the Market Study
- Global Cavendish banana market is expected to be valued at US$ 16.90 billion by 2023
- From 2018 to 2022, the market demand expanded at a CAGR of 2.9%
- In 2022, the Asia Pacific market for Cavendish banana accounted for about 55% of the global market share.
- The United States Cavendish banana market to experience a CAGR of 4.1% from 2023 to 2033.
- By product type, the organic Cavendish banana was estimated to acquire more than 40% share in 2022.
- By sales channel, the online retail acquired a market share of 24%.
“Consumer interest has pushed the scales towards non-GMO certified products, that will have a big impact on farming procedures used to nurture and grow Cavendish bananas.” remarks an FMI analyst.
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Competitive Landscape
Prominent players in the Cavendish banana market are:
- 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
Some key developments of the leading companies in this market are:
- In 2022, a new distribution, as well as a banana-ripening facility, has been established by the Irish business Fyffes in Balbriggan, North County Dublin. The new facility aids the business in distributing its goods to Irish shops, wholesalers, and food suppliers. It has an annual operational capacity of approximately 60,000 tons of bananas.
- The facility, which was built in accordance with current construction requirements, is probably going to be thought of as one of Ireland’s most environmentally friendly structures of its sort.
- Some of its energy will be provided by roof-mounted solar panels, and both the office cooling and heating systems will receive their supply via a Ground Source Heat Pump (GSHP), which has the potential to consume around 60% lesser energy than the structure it replaces. To assist, rainwater collection devices have been put in place.
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global Cavendish banana market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the Cavendish banana market , the market is segmented on the basis of Cavendish banana by product (organic, conventional, organic fairtrade, conventional fairtrade), application {food and beverage processing, cosmetic and personal care, pharmaceutical & supplements, animal feed, foodservice (HoReCa), household (retail)}, sales channel (direct sales and retail sales) and across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Key Segments Profiled in the Global Cavendish Banana Market
By Product:
- Organic
- Conventional
- Organic
- Conventional
By Application:
- Food and Beverage Processing
- Cosmetic and Personal Care
- Pharmaceutical & Supplements
- Animal Feed
- Foodservice (HoReCa)
- Household (Retail)
- Others
By Sales Channel:
- Direct Sales
- Retail Sales
- Modern Trade
- Convenience Store
- Departmental Store
- Online Retailers
- Traditional Grocery Store
- Other Sales Channels
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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