The volume of banana exports from India has shown a dynamic growth trend from 2014 to 2023, moving from 54.0 thousand metric tons in 2014 to 133.0 thousand metric tons by 2023. Notable peaks include a significant growth of 48.15% in 2015 and 40% in 2016, followed by a decline of -19.64% in 2017. Steady increases were observed starting from 2018, with an average year-on-year variation of around 2-4%. By 2023, the year-on-year change was 3.1%, and the compound annual growth rate (CAGR) over the last five years stood at 2.77%.
Forecasts for the upcoming years predict further modest growth. From 2024 to 2028, the banana export volume is expected to increase consistently, reaching 153.0 thousand metric tons by 2028. The forecasted 5-year CAGR is 2.23%, indicating a moderate but sustainable growth rate of 11.68% over this period.
Future trends to watch for include changes in global demand for bananas, potential impacts of climate change on banana cultivation, and India's capacity to address such challenges while maintaining quality and meeting international standards.
