The demand for bananas in Mexico has shown fluctuations over the past decade. Notably, banana consumption peaked in 2016 at 1.94 million metric tons, before declining sharply by 13.89% in 2017. From 2018 to 2023, the demand stabilized, fluctuating slightly but mostly hovering around 1.78 million metric tons, which was the standing value in 2023. The overall Compound Annual Growth Rate (CAGR) over the past five years has been -0.21%, indicating a slight decrease on average per year.
Future projections from 2024 to 2028 suggest that the demand will remain steady at 1.78 million metric tons annually, with a forecasted five-year CAGR of 0% and a forecasted five-year growth rate of 0.01%. This implies a plateau in consumption without significant increases or decreases.
Trends to watch for in the future include:
- Possible shifts in consumer preferences towards healthier eating habits.
- Impact of economic changes and disposable income on fruit consumption.
- Influence of climate change on banana production and supply chains.
- Technological advancements in agriculture that could affect yield and price.