Banana Flour Market Size is anticipated to reach USD 865.5 Million by 2027, registering a CAGR of 4.4% during 2020-2027
Banana Flour Market is predicted to grow at a CAGR of 4.4% from 2020 to 2027, reaching USD 865.5 million. This is because flour can be utilized in many areas in the food industry such as bakery goods, infant foods, and dietary food products. Banana is also the second most-produced fruit and accounts for 16% of the global fruit production.
Banana flour is undoubtedly a rich source of several mineral salts such as calcium, sulfur, magnesium, iron, and potassium. It also contains a commendable amount of resistant starch, Vitamins C & B6. Using banana flour instead in your diet can impart numerous health benefits. Bananas help in the metabolization of carbohydrates, fats, and amino acids in the body. Subsequently, it helps in increasing the overall energy of the person.
Additionally, the manganese in banana flour increases collagen production in your body. Hence, it protects the skin and cells from free-radical damages. Moreover, banana flour is a beneficial alternative to all-purpose flour, especially for those on a Paleo diet. Banana flour is manufactured by drying ripe, fresh bananas using various techniques such as sun, osmotic, oven, or bed drying.
After the impact of Covid-19 across the globe, many large-scale businesses and industries suffered, except healthcare and life support products. The lockdown and physical distancing protocols also affected many small and big business institutions alike. The banana flour sales have also gone down since the pandemic. However, the pandemic situation is expected to revive within the coming years.
Most banana flour manufacturing companies are switching to the sale of their products online. This helps comply with the lockdown as well as make the purchase of banana flour convenient. Moreover, the banana flour market may be able to recover worldwide once the pandemic situation is resolved. Hence, this will help fulfill the estimated banana flour market growth in the forecast period.
Many factors drive the growth of the banana flour market.The flour adds a lot of nutritional value to the food products made with it. Moreover, it is not grainy like wheat or cornflour. So you can add it directly and don’t have to mix banana flour with other flours while baking. Hence, these factors contribute to the growth of the global market.
Banana flour is becoming increasingly popular around the world. Many reputed chefs and bakers are experimenting with flour to create unique, delicious, and healthy recipes. The banana flavor adds a sweet aroma and taste to the foods. Hence, the awareness of the benefits of using banana flour is also increasing among people. These factors provide opportunities for the expansion of the banana flour market.
A few factors may restraint the growth of the banana flour market.This flour may not always be easily accessible to people, since they are not available in most local and grocery stores. Moreover, banana flour may cost a bit more than wheat and all-purpose flour. Hence, these factors may hinder market growth.
Some factors may pose challenges to the banana flour manufacturing companies. With the rising popularity of banana flour, several substitutes are also being introduced in the market. Moreover, many new companies are offering low-cost flours which increases competition in the global market. Hence, these factors may challenge the banana flour manufacturers.
The global banana flour market is expected to see enormous growth over the forecast period (2020 – 2027). This is because flour can be utilized in many areas in the food industry such as bakery goods, infant foods, and dietary food products. Banana is also the second most-produced fruit and accounts for 16% of the global fruit production. The market is expected to grow at a swift speed, with a CAGR of 4.4% over the forecast period.
Since bananas are produced in excess around the globe, it is processed into a huge range of products such as banana flour, sun-dried bananas, and banana crisps. Moreover, the resistant starch in banana flour has a lot of health benefits. It helps improve insulin sensitivity, prevents several heart diseases, and reduces glucose levels in the blood after having food.
The flour can also be used in the manufacture of many goods such as dietary, infant, and baked foods. Hence, there is a growing demand for banana flour globally. These factors are anticipated to drive the growth of the banana flour market.
The global banana flour market is divided into various segments such as by source, packaging type, and distribution channel. Given below are the important banana flour industry segments:
Based on region, the global banana flour market is divided into North America, Europe, Asia Pacific, and the rest of the world. The North American region comprises Canada, the US, and Mexico. The European region includes Italy, Spain, the UK, France, Germany, and others. Likewise, the Asia Pacific region comprises China, India, Indonesia, New Zealand, Australia, Japan, and others.
Among them, the Asia Pacific region is anticipated to dominate the global market with the highest share during the banana flour market forecast. This is because the region has an increasing number of health-conscious customers, rapid veganism, and urbanization.
Moreover, there is an ever-growing demand for low-level or completely gluten-free bakery products in countries like India and Australia. These factors lead to the swift growth of banana flour consumption in the Asia Pacific region. However, the region with the largest market share is expected to be North America because most of the global key players belong to the US market.
The banana flour industry is dominated by a few companies that play a vital role in the growth of the market. These banana flour market companies are called key companies. They contribute to the largest share of the market profit.
Although the most thrive market banana flour is in the Asia Pacific, North America is expected to have the biggest market share since most key companies belong to the banana flour market in the US. The key banana flour companies increase their market profit by adopting various market trends such as USDA certification and gluten-free flour.
Listed below are some of the major companies of the global banana flour market:
This report caters all information about the growth of the global banana flour over the forecast period. There are different sections presented that help to get full-fledged information such as opportunities, challenges, drivers, Covid-19 analysis, regional analysis, competitive landscape, and others. All the information is collected from reliable primary and secondary sources to provide the expected details of the banana flour market analysis.
|Market Size||USD 865.5 Million|
|CAGR||4.4% (2020- 2027)|
|Forecast Period||2020- 2027|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Source, Packaging Type, Distribution Channel and region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Stawi Foods and Fruits Limited (Kenya),WILD Flavors and Specialty Ingredients (US),Paradise Fruits Solutions GmbH & Co.KG (Germany),Pereg Gourmet Spices (US),Ceres Organics (New Zealand),M-Pak (South Africa),Kanegrade Ltd (UK),Natural Evolution (Australia),International Agriculture Group (US)|
|Key Market Opportunities||increasing awareness of the benefits of banana flour|
|Key Market Drivers||flour adds a lot of nutritional value to the food products|
The forecast period that is considered for the global banana flour market research report is from 2020 to 2027.
The global banana flour industry is anticipated to grow at a CAGR of up to 4.4% over the forecast period (2020 – 2027).
The key players in the global banana flour industry are Stawi Foods and Fruits Limited, WILD Flavors and Specialty Ingredients, Paradise Fruits Solutions GmbH & Co.KG, Pereg Gourmet Spices, Ceres Organics, M-Pak, Kanegrade Ltd, Natural Evolution, and International Agriculture Group.
The Asia Pacific region is anticipated to dominate the global banana flour market with the highest share during the forecast years. However, North America is expected to be the region with the largest market share.