Global Banana Powder Market to be Driven by the Increasing Demand from the Food Industry in the Forecast Period of 2021-2026

The new report by Expert Market Research titled, ‘Global Banana Powder Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global banana powder market, assessing the market based on its segments like source type, process type, sales channel, end-use, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2016-2026):

Historical Market Size (2020): USD 1003.72 Million
Forecast CAGR (2016-2026): 5.8%
Forecast Market Size (2026): USD 1330.58 Million

To encourage a healthy lifestyle, consumers have started seeking more natural food ingredients. Increased research and development operations by food technologists and enterprises, as well as ongoing new product developments and enhanced distribution channels, are all factors driving up demand for banana powder. The product is high in antioxidants, vitamin C, and magnesium and is a good source of calories and carbohydrates. It helps to prevent dehydration and ageing, as well as improving nutrition absorption and curing indigestion (dyspepsia). Because of the potassium content, it protects against blood pressure changes. Magnesium aids in muscle relaxation, which aids in the treatment of depression. Other advantages of banana eating include bone-strengthening, improved digestion, and improved vision, among others.

Industry Definition and Major Segments

Banana powder is a gluten-free powder made from processed bananas that is less expensive than wheat powder and is used in baby food and milkshakes. Banana powder is used to produce a variety of biscuits and pastries. These are mostly utilized in the cosmetics industry because they absorb excess oil and thereby reduce fine wrinkles. It is incredibly simple to use.

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Based on source type, the market is divided into:

Organic
Conventional

On the basis of process type, the industry is segmented into:

Freeze dried
Spray dried
Others

The sales channel of the product include:

Direct sales
Indirect sales

Based on end-use, the market is divided into:

Food industry
Feed industry
Others

Based on region, the market is segmented into:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

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Market Trends

The global food and beverage sector is rapidly expanding, and people are becoming more aware of the benefits of bananas. These are two main drivers propelling the global banana powder market forward. The increasing cultivation of bananas in numerous developed and emerging nations is predicted to help the global market’s revenue growth. Bananas are high in potassium, vitamin B6, proteins, and carbohydrates, making them appropriate for everyday consumption as well as various uses such as cosmetics, beverages, and infant food. Another important aspect that is expected to fuel target market expansion is this. Increased organic banana farming, combined with increased demand for organic banana powder, is driving market expansion. However, some people may experience allergic responses as a result of eating bananas, and this, combined with product recalls, could limit the worldwide banana powder market’s growth over the next ten years. In the target market, the banana powder market in the Asia Pacific is expected to account for a bigger share. The huge production and consumption of banana fruit by individuals in nations such as India, Australia, and China is chiefly responsible for this. According to FAO (Food and Agriculture Organization of the United Nations) records, India is the largest banana producer, followed by China. In the coming years, the banana powder market in Europe is expected to account for a significant portion of total consumption. This could be owing to increased demand for banana powder in baked goods, as well as increased consumption of bakery products.

Key Market Players

The major players in the market are Chiquit, Del Monte Fresh, Dole Food Company, Inc., Fyffes, Banana Link, BANATONE FOOD INDUSTRIES, Mevive International Food Ingredients, Santosh Food Products, Naturalin Bio-Resources Co. Ltd, Vinayak Ingredients India Pvt. Ltd, Aarkay Food Products Ltd, National Food ‘n’ Spices, Saipro Biotech Private Limited, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.