Global organic banana market is anticipated to grow
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2024-09-24 09:30
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According to Market Research Intellect, a global research and consulting firm service that provides analytical research, the global organic banana market is anticipated to grow at a compound annual growth rate (CAGR) of 16.99% between 2024 and 2031 and US$7.35 billion by 2024. The valuation is expected to reach US$22.03 billion by 2031.The robust growth, the research found, is mainly fueled by rising consumer preference for organic and sustainably grown produce. This shift is supported by a broader trend towards healthier eating and environmental sustainability.
A key driver in the organic banana market growth is the increase in urbanization, according to the report, "the rising urban population is propelling the demand for organic banana, especially in urban centers with a heightened need for specific aspects provided by Organic Banana, driving the market growth."Others are the demand for sustainable solutions, growing environmental concerns, mergers and acquisitions strategic consolidation, and access to new technologies. Some of the major organic banana marketers are Fresh Del Monte Produce, Organics Unlimited, Chiquita, AgroAmerica, and ONE the Better Banana. As for the regional analysis, North America and Europe are major players in the organic banana market. Main countries are The United States, Canada, the United Kingdom, Germany, France, and Italy.The Middle East and Africa and the Asia-Pacific are rapidly growing regions and emerging markets. Asia-Pacific, according to the study, benefits from "a large population, rising disposable income, and increasing urbanization, leading to greater demand for organic banana products and services."The Middle East and African countries like UAE, Saudi Arabia, South Africa, and Nigeria show promising growth potential. Economic diversification efforts, urbanization, and a young population are driving demand for organic banana products and services in the region.
