Banana Powder Market Forecasts to 2030 - Global Analysis By Product Type (Conventional, Organic and Other Product Types), Processing, Form, Distribution Channel, Application, End User and By Geography
According to Stratistics MRC, the Global Banana Powder Market is accounted for $986.1 million in 2023 and is expected to reach $1,747.1 million by 2030 growing at a CAGR of 8.7% during the forecast period. Bananas represent the world’s most consumed fresh fruit and the fourth most important food crop in terms of the gross value of production. When kept in a cold storage facility without any oxygen, banana powder has a shelf life of over two years, as opposed to raw bananas. It has a variety of uses in the cosmetics, culinary, pharmaceutical, and feed industries, which have boosted its production all over the world. Banana powder aids in preventing dehydration, regulating blood pressure, relaxing muscles, and strengthening bones. It also helps with digestion, nutrient absorption, and vision. Clinical investigations are also being carried out to confirm the use of banana powder in the pharmaceutical sector.
According to the United States Food and Agriculture Organization (FAO), 6% of Americans are gluten intolerant. It is more widespread than celiac disease that affects 1% of people.
Growing awareness about health
The market is benefited by rising investment, rising demand for healthier food, rising health consciousness, and better distribution systems. Additionally, because banana flour is so abundant in dietary fibre, potassium, calcium, proteins, amino acids, and carbs, health-conscious customers are en masse embracing healthier snacks made with it. Moreover, the preference for banana flour among infants in terms of digestion and the development of cutting-edge manufacturing procedures both speed up market expansion.
Presence of several substitutes
The abundance of alternatives that may readily replace bananas, the altered length of the seasons, the loss of agricultural land due to soil erosion, deforestation, and the disappearance of organic content are only a few of the significant causes providing serious obstacles to the market's expansion. The revenue generated by the market could also be hampered by the scarcity of high-quality bananas.
Increasing consumer preferences
The popularity of processed and refined food products is declining. Consumer understanding and awareness of the negative consequences of artificial preservatives, tastes, and colours have significantly increased. In terms of buying food and beverage products, consumers are expanding their choices. Technology has become increasingly important in raising customer awareness and knowledge. This has caused the market to experience a spike in demand.
Use of additives
Organisations and companies have implemented emergency measures to lessen the impact of the epidemic. A pandemic won't have a significant impact because banana powder is likely one of the most reasonable products. The handling of banana powder is tested. On occasion, a sizable amount of false additives are added to the powder to brighten the colour of the yellow hue. It weakens the item's nature.
When compared to pre-pandemic levels, the global COVID-19 pandemic has been unheard of and staggering, with demand across all regions being lower/higher than expected. Numerous agro systems and livelihoods have been impacted by the corona virus pandemic, and more are expected to be affected in the near future. The retail network and production delays caused by the corona virus have had an influence on banana value chains in all banana-producing countries. The production network for banana powder underwent significant changes as a result of the pandemic, as did consumer behaviour, and this forced industry participants to move more quickly and cautiously in order to stay ahead of the competition.
The conventional segment is expected to be the largest during the forecast period
The conventional segment is estimated to have a lucrative growth, due to the lower price of conventional natured products. Farmers from all over the world engage in conventional farming on a large scale for a number of reasons, including its high fruit yield, quick production, low capital requirements, high revenue, more reliable alternative because it is a tried-and-true approach, and efficient use of land. The product of conventional descent is widely available because conventional farming is widely practised.
The food segment is expected to have the highest CAGR during the forecast period
The food segment is anticipated to witness the fastest CAGR growth during the forecast period. In the food business, banana flour is used in a variety of ways, including as a gluten-free substitute for wheat flour. In the bakery sector, banana flour is frequently used to create wholesome, nut- and gluten-free items for health-conscious consumers. Meals based on pasta are now more wholesome and nutritious thanks to the use of green banana flour.
Region with Largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the factors such as fascinating banana production. The high production of the fruit unequivocally supplements the supply chain and drives the market. Asia Pacific is also one of the most populous regions with the biggest food and beverage consumption base. Bananas are often eaten as fruit, but during the past ten years, the popularity and health advantages of banana flour have caused this tendency to shift.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to the increased number of health-conscious consumers who are opting for food products that fall under the “free from” category. Therefore, it is anticipated that rising demand for gluten-free goods will fuel market expansion in the area, together with the significant opportunity provided by the bakery sector. Additionally, the newborn population is growing, which has raised demand for baby food items that use banana powder as a key ingredient. The market has grown tremendously as a result of this.
Key players in the market
Some of the key players profiled in the Banana Powder Market include Woodland Foods, Miski Organics, Dr. Food Banatone, Pereg Gourmet Spices, Divine Foods, Seawind Foods, Diana Foods, Synergy Food Industries, Saipro Biotech Private Limited, APKA Industries, LiveKuna, Paradise Fruits Solutions GmbH & Co.KG, International Agriculture Group, Vinayak Corporation and Del Monte International.
In June 2022, Symrise expanded diana food portfolio with antioxidant-rich aronia ingredients. Symrise has developed a range of aronia bioactive ingredients containing a unique profile of potent antioxidants.
In February 2021, Del Monte International, a subsidiary of Florida-based distributor of fresh-cut fruit "Fresh Del Monte Produce Inc," announced a successful partnership with Brisbane, Australia-based Queensland University of Technology in 2021.
Product Types Covered:
• Other Product Types
• Sun Dried
• Freeze Dried
• Spray Dried
• Drum Dried
• Other Processings
• Other Forms
Distribution Channels Covered:
• Convenience Stores
• Departmental Stores
• Online Retail
• Other Distribution Channels
• Snack Drink
• Health Care Products
• Infant Food
• Healthy Nutrition
• Other Applications
End Users Covered:
• Cosmetics Industry
• Animal Feed Industry
• Food Industry
• Pharmaceutical Industry
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
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 2021, 2022, 2023, 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
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All the customers of this report will be entitled to receive one of the following free customization options:
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o Comprehensive profiling of additional market players (up to 3)
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o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
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
3 Market Trend Analysis
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 Powder Market, By Product Type
5.4 Other Product Types
6 Global Banana Powder Market, By Processing
6.2 Sun Dried
6.3 Freeze Dried
6.4 Spray Dried
6.5 Drum Dried
6.6 Other Processings
7 Global Banana Powder Market, By Form
7.4 Other Forms
8 Global Banana Powder Market, By Distribution Channel
8.2 Convenience Stores
8.4 Departmental Stores
8.5 Online Retail
8.6 Other Distribution Channels
9 Global Banana Powder Market, By Application
9.2 Snack Drink
9.3 Health Care Products
9.4 Infant Food
9.5 Healthy Nutrition
9.7 Other Applications
10 Global Banana Powder Market, By End User
10.2 Cosmetics Industry
10.3 Animal Feed Industry
10.4 Food Industry
10.5 Pharmaceutical Industry
10.6 Other End Users
11 Global Banana Powder Market, By Geography
11.2 North America
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.5 Other Key Strategies
13 Company Profiling
13.1 Woodland Foods
13.2 Miski Organics
13.3 Dr. Food Banatone
13.4 Pereg Gourmet Spices
13.5 Divine Foods
13.6 Seawind Foods
13.7 Diana Foods
13.8 Synergy Food Industries
13.9 Saipro Biotech Private Limited
13.10 APKA Industries
13.12 Paradise Fruits Solutions GmbH & Co.KG
13.13 International Agriculture Group
13.14 Vinayak Corporation
13.15 Del Monte International
List of Tables
1 Global Banana Powder Market Outlook, By Region (2021-2030) ($MN)
2 Global Banana Powder Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Banana Powder Market Outlook, By Conventional (2021-2030) ($MN)
4 Global Banana Powder Market Outlook, By Organic (2021-2030) ($MN)
5 Global Banana Powder Market Outlook, By Other Product Types (2021-2030) ($MN)
6 Global Banana Powder Market Outlook, By Processing (2021-2030) ($MN)
7 Global Banana Powder Market Outlook, By Sun Dried (2021-2030) ($MN)
8 Global Banana Powder Market Outlook, By Freeze Dried (2021-2030) ($MN)
9 Global Banana Powder Market Outlook, By Spray Dried (2021-2030) ($MN)
10 Global Banana Powder Market Outlook, By Drum Dried (2021-2030) ($MN)
11 Global Banana Powder Market Outlook, By Other Processings (2021-2030) ($MN)
12 Global Banana Powder Market Outlook, By Form (2021-2030) ($MN)
13 Global Banana Powder Market Outlook, By Unripen (2021-2030) ($MN)
14 Global Banana Powder Market Outlook, By Ripen (2021-2030) ($MN)
15 Global Banana Powder Market Outlook, By Other Forms (2021-2030) ($MN)
16 Global Banana Powder Market Outlook, By Distribution Channel (2021-2030) ($MN)
17 Global Banana Powder Market Outlook, By Convenience Stores (2021-2030) ($MN)
18 Global Banana Powder Market Outlook, By Supermarkets/Hypermarkets (2021-2030) ($MN)
19 Global Banana Powder Market Outlook, By Departmental Stores (2021-2030) ($MN)
20 Global Banana Powder Market Outlook, By Online Retail (2021-2030) ($MN)
21 Global Banana Powder Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
22 Global Banana Powder Market Outlook, By Application (2021-2030) ($MN)
23 Global Banana Powder Market Outlook, By Snack Drink (2021-2030) ($MN)
24 Global Banana Powder Market Outlook, By Health Care Products (2021-2030) ($MN)
25 Global Banana Powder Market Outlook, By Infant Food (2021-2030) ($MN)
26 Global Banana Powder Market Outlook, By Healthy Nutrition (2021-2030) ($MN)
27 Global Banana Powder Market Outlook, By Condiment (2021-2030) ($MN)
28 Global Banana Powder Market Outlook, By Other Applications (2021-2030) ($MN)
29 Global Banana Powder Market Outlook, By End User (2021-2030) ($MN)
30 Global Banana Powder Market Outlook, By Cosmetics Industry (2021-2030) ($MN)
31 Global Banana Powder Market Outlook, By Animal Feed Industry (2021-2030) ($MN)
32 Global Banana Powder Market Outlook, By Food Industry (2021-2030) ($MN)
33 Global Banana Powder Market Outlook, By Pharmaceutical Industry (2021-2030) ($MN)
34 Global Banana Powder Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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