GCC: Banana Market 2024

Banana Market Size in GCC

The GCC banana market was finally on the rise to reach $X in 2022, after four years of decline. Over the period under review, consumption continues to indicate buoyant growth. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Banana Production in GCC

In value terms, banana production soared to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Saudi Arabia (X tons) remains the largest banana producing country in GCC, accounting for X% of total volume. Moreover, banana production in Saudi Arabia exceeded the figures recorded by the second-largest producer, Oman (X tons), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Saudi Arabia totaled X%.

The average banana yield skyrocketed to X tons per ha in 2022, growing by X% on 2021. Over the period under review, the yield enjoyed a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, the yield reached the peak level of X tons per ha. From 2021 to 2022, the growth of the banana yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the banana harvested area in GCC amounted to X ha, approximately reflecting the previous year's figure. In general, the harvested area, however, continues to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to banana production attained the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Banana Exports

Exports in GCC

In 2022, approx. X tons of bananas were exported in GCC; waning by X% on the previous year's figure. Over the period under review, exports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, banana exports reduced to $X in 2022. In general, exports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Saudi Arabia was the major exporter of bananas in GCC, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), comprising an X% share of total exports. Kuwait (X tons) and Oman (X tons) held a little share of total exports.

Saudi Arabia was also the fastest-growing in terms of the bananas exports, with a CAGR of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. By contrast, Oman (X%) and Kuwait (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Saudi Arabia and Kuwait increased by X and X percentage points, respectively.

In value terms, Saudi Arabia ($X) remains the largest banana supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Oman, with a X% share.

In Saudi Arabia, banana exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the export price continues to indicate a modest expansion. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Banana Imports

Imports in GCC

In 2022, the amount of bananas imported in GCC shrank to X tons, which is down by X% compared with 2021. In general, imports, however, showed temperate growth. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, banana imports surged to $X in 2022. Over the period under review, imports, however, posted a noticeable increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates was the main importing country with an import of about X tons, which resulted at X% of total imports. It was distantly followed by Oman (X tons) and Kuwait (X tons), together making up a X% share of total imports. Qatar (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the bananas imports, with a CAGR of X% from 2012 to 2022. At the same time, Qatar (X%) and Oman (X%) displayed positive paces of growth. By contrast, Kuwait (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.), Kuwait (X p.p.), Oman (X p.p.) and Qatar (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported bananas in GCC, comprising X% of total imports. The second position in the ranking was taken by Kuwait ($X), with a X% share of total imports. It was followed by Oman, with a X% share.

In the United Arab Emirates, banana imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kuwait (X% per year) and Oman (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Kuwait ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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