According to the report, the global banana flour market was valued at USD 50,100 Million in 2019 and is expected to reach over USD 66,035.7 Million by 2026, growing at a CAGR of around 4.2% during the forecast period from 2020 to 2026.
Banana flour is a powder form of green bananas which is rich in essential amino acids, carbohydrates, starch, dietary fibres and is also used in various bakery products as a gluten-free product. Demand of boosting the immunity is growing these days owing to the growth of banana flour market due to its various health benefits.
Global Banana Flour Market: Overview
Banana is one of the most consumed fruit in the tropical and sub-tropical region. Banana peel and unripe banana are rich in dietary fiber and indigestible carbohydrates, proteins, essential amino acids, cellulose, hemicelluloses, lignin, starch, resistant starch, polyunsaturated fatty acids, and potassium. Banana flour is a powder made of green bananas and historically it has been used in Africa and Jamaica as an alternative to wheat flour. A green banana when cooked has a very mild banana flavor and has a texture reminiscent of lighter wheat flours. It is used as a gluten-free ingredient and added in various baked foods. Moreover, it is a rich source of resistant starch and has low calories than most other flour.
Global Banana Flour Market: Growth Factor
The demand for banana flour from food industry is high; it is expected to reach the larger market value in the near future. The most important factor which drives the banana flour market is an increase in the production of the green banana. Moreover, due to increase in awareness about the banana flour being a gluten-free product, the demand for the gluten-free product has raised the banana flour market.
However, there are many factors which restraint the growth of the market which includes, unstable economic growth due to lower commodity prices and lesser developments. Though, the overall growth of the market is expected at a slower pace.
The betterment in the market scenario with increasing adoption of banana flour in the bakery and other end uses will encourage the manufacturers and key businesses to be more innovative.
Global Banana Flour Market: Segmentation
The banana flour market is segmented on the basis of the distribution channel, process type, application and the source. The distribution channel is categorized into the direct channel and indirect channel. The indirect channel can be further sub-segmented into modern trade, convenience store, E-retailers and others. On the basis of the process type, the banana flour market is classified into freeze dried, spray dried and others. Moreover, the application segment holds household, food industry, beverages, pet food and feed industry. In terms of source, the banana flour market is divided into organic and conventional.
Global Banana Flour Market: Regional Analysis
Banana flour is largely consumed in the major regions of Asian countries like India and Australia. India is at the top position in the cultivation of the banana among the other countries. North America has been using banana flour as the main ingredient in the production of the infant’s food product. Latin American countries have anticipated a higher rate of banana production and its different processed forms like banana powder, banana puree in large scale. Therefore, North America and Latin America are expected to witness a significant growth in the forecast period.
Global Banana Flour Market: Competitive Player
Some of the key players in the banana flour market are ZUvii, NuNAtural Inc., Diana Foods, Paradisefrucht GmbH, Now Health Group Inc., Kanegade Ltd, ADM Wild Europe Gmbh& Co. KG, Stawi Foods, Fruits Limited and International Agriculture Group, among others
Global Banana Flour Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- The Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
What Reports Provides
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market.
