Banana Chips Market
Banana Chips Market Forecasts to 2030 - Global Analysis By Product (Fried Banana Chips, Baked Banana Chips, Dried Banana Chips and Other Products), Flavour, Distribution Channel, Application, End User and By Geography
|
Years Covered |
2022-2030 |
|
Estimated Year Value (2024) |
US $1.46 BN |
|
Projected Year Value (2030) |
US $2.02 BN |
|
CAGR (2024 - 2030) |
7.2% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Banana Chips Market is accounted for $1.46 billion in 2024 and is expected to reach $2.02 billion by 2030 growing at a CAGR of 7.2% during the forecast period. Banana chips are thinly sliced, deep-fried, or dehydrated banana pieces, often enjoyed as a crunchy snack. They are typically made from unripe bananas, which are sliced and fried in oil until crispy. Some varieties are sweetened with sugar or honey, while others are flavoured with spices like salt or chili. Popular in many tropical regions, especially in India, the Philippines, and Thailand, banana chips are a delicious, energy-rich snack with a long shelf life.
According to the Philippine Statistics Authority, in 2023, the April to June banana production was estimated at 2.269 million metric tons.
Market Dynamics:
Driver:
Rising demand for healthy snacks
Consumers are increasingly seeking nutritious, natural, and gluten-free alternatives to traditional fried snacks. Baked and minimally processed banana chips, rich in fiber and potassium, align with health-conscious trends. Growing awareness of clean-label and organic products further boosts demand. Additionally, fitness enthusiasts and diet-conscious individuals prefer banana chips as an energy-boosting snack, propelling market growth.
Restraint:
High caloric & fat content
Deep-fried banana chips, often high in saturated fats and added sugars, are perceived as unhealthy, limiting their appeal among individuals seeking low-fat or weight-friendly snacks. Rising awareness of obesity and heart health concerns further reduces demand. Additionally, competition from healthier alternatives like air-dried fruit snacks and baked chips challenges market expansion.
Opportunity:
Growing vegan & gluten-free trends
Banana chips, made from naturally gluten-free and dairy-free bananas, appeal to health-conscious individuals and those with dietary restrictions. As more people adopt vegan and gluten-free lifestyles, demand for alternative snacks rises, boosting market growth. Additionally, manufacturers are innovating with organic, baked, and minimally processed banana chips to cater to this expanding consumer base, further accelerating market expansion worldwide.
Threat:
Short shelf life for natural variants
Without preservatives, banana chips are prone to moisture absorption, leading to loss of crispiness and spoilage. This creates challenges for retailers and exporters, especially in humid regions. Consumers may also prefer longer-lasting alternatives, affecting demand. Additionally, manufacturers face higher costs in packaging and logistics to maintain freshness. These factors hinder large-scale market expansion and limit the reach of natural banana chips.
Covid-19 Impact:
The covid-19 pandemic significantly impacted the banana chips market. Supply chain disruptions led to raw material shortages and increased production costs. Lockdowns and restrictions affected distribution channels, reducing sales in offline retail stores. However, rising health consciousness boosted demand for packaged, shelf-stable snacks like banana chips.
The spicy segment is expected to be the largest during the forecast period
The spicy segment is expected to account for the largest market share during the forecast period. Spicy banana chips are a popular variation of traditional banana chips, offering a bold and tangy taste. This flavor is particularly popular in India, Thailand, and Latin America, where spicy snacks are in high demand. The combination of crunchiness and heat makes them a favorite among spice lovers. They are enjoyed as a standalone snack or paired with dips.
The culinary ingredient segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the culinary ingredient segment is predicted to witness the highest growth rate. Banana chips are increasingly used as a versatile culinary ingredient in various dishes. Crushed banana chips serve as a crunchy topping for yogurt, smoothie bowls, and desserts. Their natural sweetness and crispiness make them a unique addition to both sweet and savory recipes.
Region with largest share:
During the forecast period, the Asia Pacific region is expected to hold the largest market share due to abundant banana production, rising health-conscious consumers, and expanding retail networks. Countries like India, the Philippines, Thailand, and Indonesia dominate production and exports. The increasing influence of Western snacking habits, urbanization, and e-commerce expansion further boost market growth.
Region with highest CAGR:
Over the forecast period, the North America region is anticipated to exhibit the highest CAGR driven by increasing demand for healthy, natural, and gluten-free snacks. The U.S. and Canada are key consumers, with a rising preference for baked, organic, and low-fat variants. Expanding e-commerce platforms and health-conscious trends drive market growth. Further, product innovation, diverse flavours, and sustainable packaging are boosting market expansion.
Key players in the market
Some of the key players in Banana Chips market include Beyond Snack, Dole Food Company, Inc., Tropicana, NATURAL SINS, Greenday, Four Seasons Fruits Corporation, Traina Foods, El Dorado, Herman Foods, THAI AO CHI FRUITS CO., LTD., Celebes Coconut Corporation, Prime Fruits International, GREENVILLE AGRO CORPORATION and EL Coco, BG Fruits and Nuts Manufacturing Corporation.
Key Developments:
In February 2023, Beyond Snack, a Kerala-based banana chips brand, launched its new product, Kerala Banana Chips in Coconut Oil. This product highlights the authentic taste of Kerala’s traditional banana chips, made using Nendran bananas, a premium variety known for its rich texture and unique flavour.
Products Covered:
• Fried Banana Chips
• Baked Banana Chips
• Dried Banana Chips
• Other Products
Flavours Covered:
• Sweet
• Salty
• Spicy
• Plain/Unflavored
• Other Flavours
Distribution Channels Covered:
• Supermarkets/Hypermarkets
• Convenience Stores
• Specialty Stores
• Online Retail
• Other Distribution Channels
Applications Covered:
• Direct Consumption
• Culinary Ingredient
• Other Applications
End Users Covered:
• Households
• Foodservice Industry
• Food Processing Industry
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Banana Chips Market, By Product
5.1 Introduction
5.2 Fried Banana Chips
5.3 Baked Banana Chips
5.4 Dried Banana Chips
5.5 Other Products
6 Global Banana Chips Market, By Flavour
6.1 Introduction
6.2 Sweet
6.3 Salty
6.4 Spicy
6.5 Plain/Unflavored
6.6 Other Flavours
7 Global Banana Chips Market, By Distribution Channel
7.1 Introduction
7.2 Supermarkets/Hypermarkets
7.3 Convenience Stores
7.4 Specialty Stores
7.5 Online Retail
7.6 Other Distribution Channels
8 Global Banana Chips Market, By Application
8.1 Introduction
8.2 Direct Consumption
8.3 Culinary Ingredient
8.4 Other Applications
9 Global Banana Chips Market, By End User
9.1 Introduction
9.2 Households
9.3 Foodservice Industry
9.4 Food Processing Industry
9.5 Other End Users
10 Global Banana Chips Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.10 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.10 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.1 Middle East & Africa
10.10.1 Saudi Arabia
10.10.2 UAE
10.10.3 Qatar
10.10.4 South Africa
10.10.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Beyond Snack
12.2 Dole Food Company, Inc.
12.3 Tropicana
12.4 NATURAL SINS
12.5 Greenday
12.6 Four Seasons Fruits Corporation
12.7 Traina Foods
12.8 El Dorado
12.9 Herman Foods
12.10 THAI AO CHI FRUITS CO., LTD.
12.11 Celebes Coconut Corporation
12.12 Prime Fruits International
12.13 GREENVILLE AGRO CORPORATION
12.14 EL Coco
12.15 BG Fruits and Nuts Manufacturing Corporation
List of Tables
1 Global Banana Chips Market Outlook, By Region (2022-2030) ($MN)
2 Global Banana Chips Market Outlook, By Product (2022-2030) ($MN)
3 Global Banana Chips Market Outlook, By Fried Banana Chips (2022-2030) ($MN)
4 Global Banana Chips Market Outlook, By Baked Banana Chips (2022-2030) ($MN)
5 Global Banana Chips Market Outlook, By Dried Banana Chips (2022-2030) ($MN)
6 Global Banana Chips Market Outlook, By Other Products (2022-2030) ($MN)
7 Global Banana Chips Market Outlook, By Flavour (2022-2030) ($MN)
8 Global Banana Chips Market Outlook, By Sweet (2022-2030) ($MN)
9 Global Banana Chips Market Outlook, By Salty (2022-2030) ($MN)
10 Global Banana Chips Market Outlook, By Spicy (2022-2030) ($MN)
11 Global Banana Chips Market Outlook, By Plain/Unflavored (2022-2030) ($MN)
12 Global Banana Chips Market Outlook, By Other Flavours (2022-2030) ($MN)
13 Global Banana Chips Market Outlook, By Distribution Channel (2022-2030) ($MN)
14 Global Banana Chips Market Outlook, By Supermarkets/Hypermarkets (2022-2030) ($MN)
15 Global Banana Chips Market Outlook, By Convenience Stores (2022-2030) ($MN)
16 Global Banana Chips Market Outlook, By Specialty Stores (2022-2030) ($MN)
17 Global Banana Chips Market Outlook, By Online Retail (2022-2030) ($MN)
18 Global Banana Chips Market Outlook, By Other Distribution Channels (2022-2030) ($MN)
19 Global Banana Chips Market Outlook, By Application (2022-2030) ($MN)
20 Global Banana Chips Market Outlook, By Direct Consumption (2022-2030) ($MN)
21 Global Banana Chips Market Outlook, By Culinary Ingredient (2022-2030) ($MN)
22 Global Banana Chips Market Outlook, By Other Applications (2022-2030) ($MN)
23 Global Banana Chips Market Outlook, By End User (2022-2030) ($MN)
24 Global Banana Chips Market Outlook, By Households (2022-2030) ($MN)
25 Global Banana Chips Market Outlook, By Foodservice Industry (2022-2030) ($MN)
26 Global Banana Chips Market Outlook, By Food Processing Industry (2022-2030) ($MN)
27 Global Banana Chips Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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