The banana market size in South America is projected to reach 9.42 million metric tons by 2028. From 2014 to 2023, the banana market fluctuated modestly, with notable changes including a 5.41% increase in 2015 and a slight decline of 4.32% in 2016. By 2023, the market stood at 9.31 million metric tons, with a year-on-year growth of 0.24% and a five-year CAGR of 0.1%.
Over the following five years, the market is forecasted to grow at an average of 0.18% annually, bringing the forecasted five-year total growth rate to 0.88% by 2028.
Future trends to watch for include the impact of climate change on banana production, evolving consumer preferences toward organic produce, and potential trade policies affecting banana exports in South America.