Banana Powder Market Outlook
Banana powder represents a dehydrated form of unripped fruit that is obtained by removing the moisture content present in raw bananas to extend the shelf life of the processed product. It is a rich source of protein, potassium, vitamins, etc. In addition to this, the banana powder is generally characterized by high sugar and low starch content. It assists in retaining the nutritive value of fresh bananas and reducing post-harvest losses.
The global banana powder market reached a value of US$ 1,070 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,651 Million by 2027, exhibiting at a CAGR of 7.3% during 2022-2027.
Furthermore, the banana powder is extensively utilized to prevent the occurrence of osteoporosis, improve colon health, minimize the chances of malnutrition among children, etc. It also finds wide-ranging applications in several industries, including animal feed, food and beverage (F&B), pharmaceutical, personal care, etc.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Banana Powder Market Trends:
The widespread product adoption as a healthier substitute to wheat flour in preparing various bakery items, owing to its excellent texture, taste, and quality as well as chemical- and antibiotic-free nature, is primarily driving the banana powder market. Additionally, the growing consumer inclination towards on-the-go and nutritious drinks is augmenting the utilization of banana powder in beverages, such as milkshakes and smoothies, which is catalyzing the market growth.
Besides this, the escalating demand for this fruit powder in the production of animal feed for enhancing the gut health of cattle and pets is acting as another significant growth-inducing factor. Moreover, the introduction of organically sourced product variants is anticipated to fuel the banana powder market over the forecasted period.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
The market is highly fragmented with the presence of many small and large players who compete in terms of prices and quality. Some of the leading players operating in the market are:
- Chiquita Brands International Sàrl
- Fresh Del Monte Produce Inc.
- Dole Food Company, Inc.
- Fyffes plc
- Grupo Noboa S.A.
Key Market Segmentation:
The report has categorized the market based on end use.
Breakup by End Use:
- Food Industry
- Feed Industry
- Others
Regional Insights:
· North America (United States, Canada)
· Europe (Germany, France, United Kingdom, Italy, Spain, Others)
· Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
· Latin America (Brazil, Mexico, Others)
· Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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