Banana Market Review: 2022

Bananas are one of the most widely grown, traded, and consumed fruits on the planet. Bananas come in over 1000 different varieties around the world, providing essential nutrients to people in both producing and importing countries. Vitamin B6, vitamin C, manganese, potassium, dietary fiber, and protein are all abundant in bananas. Bananas aid in digestion and support the normal functioning of the metabolism and nervous system. The Cavendish banana is the most widely traded type, accounting for little under half of the global output at an average annual volume of 50 million tons.

 

Millions of Indians rely on the banana plantation for their livelihood. India has been cultivating bananas since ancient times. Exporting bananas is dependent on many factors, including export preferences and capacities. Farmers must be dedicated to producing a continuous supply of high-quality bananas for export, and small farmers may have limited capacity. 

With a total annual output of 24.8 million tons, India is the world's top banana producer, followed by China, the Philippines, Ecuador, and Brazil. India produces 22% of the world's bananas. More than 70 percent of the country's banana production comes from Andhra Pradesh, Gujarat, Tamil Nadu, Maharashtra, Kerala, Uttar Pradesh, Bihar, and Madhya Pradesh. Several banana exporter companies in India account for 20% of global banana exports today. 

Demands & Use of Banana Fibers

Food exports from India have been increasing year after year. India's banana export sector is one of the fastest emerging sectors in the world. Banana exporter in India has efficaciously entered the global market as one of the world's largest banana exporters. 

You may use every portion of the banana plant. Banana leaves serve as bio-plates for serving meals, and the fruit can be consumed. The innermost section of the stem, which is also edible, is used medicinally. This plant has long been a source of high-quality fabrics. Banana fiber is also used in the pulp industry as a supplement. With so many wonderful qualities, this fiber is gaining acceptance in the fashion industry, with many well-known clothing brands and fashion designers utilizing the banana-based fabric. In comparison to other synthetic fibers, banana fiber is also eco-friendly and biodegradable.

Previously, the usage of banana fiber was limited. It was commonly used in the manufacture of carpets, ropes, and some synthetic items. Banana fibers are increasingly being used nowadays in clothing, paper, footwear, purses, and home furnishings as public understanding of the value of sustainable products rises. People have now become more aware of the need to be environmentally conscious and accept eco-friendly materials. Banana fiber is an excellent substitute for both synthetic and natural fibers. Banana fiber is a 100% plant-based natural product that can be combined with other natural fibers, and dyed with ease.

Market Overview

The pandemic has a moderate impact on countries that are heavily reliant on fresh product imports due to supply chain interruptions, border closures, and movement restrictions. 

Global banana exports were estimated at 24.9 million metric tonnes in 2019, according to ITC Trademap. Apart from the negative impacts on people's health and the healthcare sector, coronavirus (COVID-19) seemed to have a significant impact on the organic banana sector too. During the forecast period (2021-2026), the global production of organic bananas is expected to grow at a CAGR of 5.6 percent. 

Because of the growing demand for bananas around the world, banana exporter in India exports more bananas each year. Bananas are among the most versatile fruits, and they may be utilized in a variety of dishes and for other purposes too. 

The manufacturing of high-quality bananas is well-known in India. India exports both raw and ripe bananas, as well as banana products like wafers. The Banana Store is here to assist you if you're looking for a banana exporter company in India. Our team is dedicated to providing high-quality products to its clients. 

Read more about: Banana Rugs in India