Global Banana Flour Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
Global Banana Flour Market: Overview
“The global Banana Flour Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Banana is one of the most consumed fruits due to its benefits such as high source of fiber, and good source of energy for individuals who work out. Banana flour is made of raw and green bananas which is used as a replacement for wheat flour.
The texture of banana flour is similar to wheat flour, and it is rich in dietary fiber, aids in colon health, and starch free. It is also used as gluten free ingredient and added to many baked foods.
There are various health benefits of banana flour such as it helps to reduce insulin sensitivity and cholesterol levels, helps in weight loss and obesity management, and balances blood sugar level.
Global Banana Flour Market: Dynamics
Increasing consumer preference towards healthy food, coupled with growing demand for banana flour from the food industry are major factors driving growth of the global market.
Rapidly increasing demand for gluten-free products, rising number of diet conscious consumers, and upsurge in the production of green bananas are important factors which are expected to drive growth of the global banana flour market over the forecast period.
In addition, growing adoption of banana flour in various as an ingredient in various food products, rising disposable income, rising living standards are some other factors expected to support growth of target market over the fore-coming years.
Rapid urbanization in developing countries, and rising demand for ready-to-eat meals, coupled with increasing working population are some other factors expected to further support growth of the target market over the forecast period.
However, availability of various alternatives, lack of awareness about benefits of banana, lack of awareness regarding availability of banana flour are major factors that could hamper growth of the global market.
Global Banana Flour Market: Segment Analysis
Among the nature segments, the organic segment is expected to register fastest revenue growth over the forecast period, due to increasing demand for organic food products and increasing per capita income.
Among the process type segments, the spray dried segment is expected to dominate in the target market over the forecast period. Many manufacturers are using the process of spray dried in the production of banana flour, currently.
Among the application segments, the food segment is expected to hold a major revenue share, due to large number of application of banana flour in the food industry.
Global Banana Flour Market: Regional Analysis
The market in Asia Pacific is expected to account for highest share in the global banana flour market in terms of revenue, owing to increasing demand for banana flour for application in production of confectionery and bakery products, and presence of prominent players operating in economies such as China and India in this region.
The Europe market is expected to account for second-highest revenue share in the global market, due to growing awareness about consumption of organic food products in the region, followed by markets in North America.
Rising merger and acquisition activities between major players operating in the region is further expected to support growth of the Europe market.
The Latin America and Middle East & Africa markets are expected to register moderate growth rate over the forecast period.
Global Banana Flour Market Segmentation:
Segmentation by source:
Segmentation by process type:
- Freeze dried
- Spray dried
Segmentation by application:
- Food industry
- Pet Food
- Feed Industry
Segmentation by distribution channel:
- Direct channel
- Indirect channel
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Pereg Gourmet Spices
- Stawi Foods and Fruits Limited
- Natural Evolution
- International Agriculture Group
- Now Foods
- Ceres organics
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