Global Organic Banana Market 2019-2023
Global Organic Banana Market: About this market
Organic bananas are free of residues of pesticides and insecticides. They are perceived to be healthier than conventional bananas. Technavio’s organic banana market analysis considers sales from through offline distribution and online distribution segments. Our analysis also considers the sales of organic banana in APAC, Europe, MEA, North America, and South America. In 2018, the offline distribution segment held the highest market share, which is expected to remain prevalent over the forecast period. Factors such as the increasing number of offline retail stores and the launch of private label brands will significantly help the offline distribution segment in maintaining its leading market position. Also, our global organic banana report has observed market growth factors such as the health benefits of organic banana, new product launches based on organic banana, and introduction of innovative packaging. However, impact of natural calamities on organic banana production, distribution challenges, and enforcement of stringent regulations may hamper the growth of the organic banana industry over the forecast period.
Global Organic Banana Market: Overview
Health benefits of organic banana
The rising awareness about the health benefits of organic food is contributing to the sales of organic banana. Therefore, farmers have been focusing on organic farming. The health benefits of organic banana are prompting the stakeholders of food and nutraceutical industries in launching banana-based food products. these factors will increase the revenue generation for market vendors, influencing the market growth. The market will record a CAGR of almost 11% during the forecast period.
Increasing popularity of plant-based food products
Plant-based food products are increasingly gaining popularity among health-conscious consumers as they are considered safe for health compared with animal-based food products. In line with this, the number of vegans and vegetarians is rising. This will increase the sales of plant-based food products such as organic bananas. As a result, this trend will have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global organic banana market during the forecast period 2019-2023, click here.
With the presence of several major players, the global organic banana market is fragmented. Technavio’s robust vendor analysis is designed to help clients in improving their market position, and in line with this, this report provides a detailed analysis of several leading organic banana manufacturers, which include Chiquita Brands International Sàrl, Coliman Group, Del Monte Fresh Produce Co., Dole Food Co. Inc., and Fyffes Ltd.
Also, the organic banana market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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