Despite hundreds of different domesticated banana cultivars, both consumers and growers prefer the Cavendish subgroup for the export industry. The Cavendish cultivars are triploid and parthenocarpic. But despite the sterility characteristic, Cavendish banana plants portray a diverse range of morphological phenotypes. Through the development of in vitro culture, preferred clones can be mass propagated and conveniently offered to growers. Over the years, in light of the demand by growers as well as final consumers, the export industry singled out Cavendish as the only banana export product. The export banana sector relies on intensive production of a monoculture. The main objective of this review is to outline the potential of breeding technologies that are presently available and have been utilized to improve the performance of Cavendish cultivars, and to overcome today’s biological and environmental challenges. Genetic engineering and induced mutagenesis both look promising as mechanisms of diversity for Cavendish.