Banana is an edible fruit, botanically known as berry, produced by flowering plants of genus Musa in family Musaceae. Bananas are grown and consumed from earlier times, however, the advancement in technology & innovation has led to the increase in commercial production and processing of banana products. They are considered as the fifth largest agricultural commodity in world trade. The largest producers of bananas are Ecuador, Philippines, Guatemala, Costa Rica, Colombia, and India, and the largest importers of banana are U.S., Germany, Belgium-Luxembourg, China, and Japan. Organic bananas are known as green foods, referred to as the bananas cultivated by the practices of organic farming which includes restricted use of chemical fertilizers right from the plantation till the consumption of the final product. The cultivation of organic bananas and its nutritional requirements are fulfilled by organic fertilizers such as compost manure, green manure, mulching, and other natural products that compile with the organic standards laid by governing bodies such as International Federation of Organic Agricultural Movements (IFOAM). The largest producers and exporters of organic bananas are Peru, Dominican Republic, and Colombia due to the favorable climate and soil conditions.
COVID-19 Scenario Analysis
- The COVID-19 pandemic has impacted the export and import of organic banana market due to the trade restrictions implemented in several countries. The global supply chain of organic bananas has disrupted due to the lockdown scenario further affecting the sales and revenue of the organic bananas market.
- The demand for the organic banana market has increased due to the panic buying situation in the initial lockdown stages; however, the decrease in the supply of organic bananas has affected the organic banana market. The shutdown of distribution channels such as supermarkets and local vendors has been the main reason for the decline in sales.
- Initially, the transportation restrictions and shortage of manpower impacted the production of the organic banana market. The implementation of the least mobility causing difficulty in the procurement of raw material has impacted the cultivators as well as banana product processing industries.
- The post-COVID scenario is anticipated to be beneficial for the organic bananas market due to the consumer inclination toward the organic food products. Organic bananas are considered a rich source of nutrients and immunity boosters.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Organic bananas are the natural products grown with Good Agricultural Practices (GAP) and are nutritious as compared to the regular bananas. The commercial production of organic bananas has presented an opportunity for the food industries to launch natural and organic banana products with enhanced nutritional value. The increase in health and fitness consciousness, rise in demand of organic products, prohibited use of synthetic chemicals, environment-friendly production, sustaining health of the soil, use of natural fertilizers, integrated farming system, sustainable agriculture, the enhanced nutritional value of bananas, health benefits of organic bananas, excluded genetically modified production, high quality of end product, processing of organic banana products, government initiatives, advancement in R&D, recycling of waste, organic bananas as a functional food, advancement in innovation & technology, surge in trade, and increase in disposable income are the key drivers which lead to the growth of the organic banana market. However, the expensive organic bananas, limited production & supply of organic bananas, government restrictions, unfair practices while cultivation, the requirement of a specific soil & climatic conditions, production of organic bananas done either by small farmers or medium farmers, availability of regular bananas, extensive time taken for the cultivation of organic bananas, banana plant diseases, crop loss due to the unfavorable weather conditions, inadequate supply of quality planting material, insufficient water supply, and cost of production hinder the market growth.
The Global Organic Banana Market Trends
The Surge of Organic Farming
- In recent times, the organic farming known as alternative farming has gained wide importance. Several regulatory bodies of different countries are investing in organic production and sustainable agriculture practices to enhance the quality of production as well as conserve natural resources.
- Techniques such as crop rotation, companion planting, integrated farming system, and others have gained relevance than conventional farming. The production of organic bananas requires specific conditions of soil, temperature, irrigation, inputs, topical humid climate, low level of rainfall, and others leading to the limited growth and yield of organic bananas, however, with the improvement in technology, the organic banana market is anticipated to grow. They are considered as a rich source of energy, carbohydrates, natural sugars, vitamin B6, fiber, Vitamin C, magnesium, potassium, and tryptophan therefore beneficial for regulating health, reducing cholesterol and blood sugar level, reduce heart disease, curing constipation and diarrhea, aids digestive health, and prevent the risk of stroke.
Key Benefits of the Report
- This study presents the analytical depiction of the global organic bananas industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global organic bananas market share.
- The current market is quantitatively analyzed to highlight the global organic bananas market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed global organic bananas market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Organic Bananas Market Research Report
- Which are the leading players active in the organic bananas market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
Organic Bananas Market Report Highlights
| Aspects | Details |
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 Key Market Players | GrupoHame, Dole Food Company, Sumitomo Corporation, Grupo Iren, AgroAmerica, Safra Group, Fresh Del Monte Produce, GrupoAcon,, Cencosud, CompagineFruitiere., Coliman Group |
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