USD 803.57 million
Banana Flour Market Size, Share, Growth Analysis, By Natural(Organic and Conventional), By Form(Ripen and Unripe), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30H2131 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
59
|Figures:
77
Banana Flour Market Insights
Banana Flour Market size was valued at USD 859.02 million in 2022 and is poised to grow from USD 918.29 million in 2023 to USD 1566.03 million by 2031, at a CAGR of 6.9% during the forecast period (2024-2031).
Banana plants and fruits are prized for their nutritional value and are good sources of fibre, resistant starch, vitamin A, vitamin B6, vitamin C, and potassium. As a result, there is an increasing demand for banana flour in all corners of the world. The nutritional value of banana flour made from unpeeled bananas is increased thanks to its higher mineral and dietary fibre content as well as its total phenolic content and antioxidant activity. Because of its nutritional profile, banana flour is accepted as a useful ingredient. Prebiotic fibre, which is present in bananas, is good for the health of the intestines and for shedding abdominal fat. Digestion benefits from prebiotic fiber are also present. Banana flour may help with weight loss, blood sugar regulation, metabolic syndrome symptoms improvement, colon health promotion, blood pressure reduction, and cholesterol reduction. Food producers are reacting to consumer demand for healthy, natural meals free of toxic additives including artificial dyes, aspartame, bromine vegetable oil, and caramel colour. The U.S. market demand is anticipated to be driven by rising consumer desire for clean label products.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Direct
Fastest Growth
Direct
Growth Rate
6.9% CAGR
Global Banana Flour Market 2022-2030 ($ Bn)
Country Share for Asia Pacific Region- 2022 (%)
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Banana Flour Market Segmental Analysis
Global Banana Flour Market is segmented on the basis of end use, distribution channels, natural, form, processing and region. By end use, the market is segmented into food industry, beverages, retail/ household, and others. By distribution channels, the market is segmented into the direct and indirect. By nature, the market is segmented into organic and conventional. by form, the market is segmented into ripen and unripe. By processing, the market is segmented into freeze dried, spray dried, sun dried and others. By region, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Banana Flour Market Analysis by End Use
The food sector held a 72.1% revenue share in the global market for banana flour. With its use as a wheat flour substitute that is also gluten-free, banana flour has found several uses in the food sector. For consumers who are concerned about their health, banana flour is frequently used in the bakery sector to create natural products that are nut- and gluten-free. Meals based on pasta are now made healthier and more nutrient-dense thanks to the use of green banana flour.
Over the projection period, the retail/household segment is anticipated to experience the highest CAGR. The nutritionally dense and healthful alternative to other grain flours like wheat, barley, maize, rice, etc. is banana flour. Banana flour is typically consumed in Africa, Latin America, and Asia using the conventional sun drying method. Due to its health advantages, consumers are incorporating banana flour in their dishes.
Banana Flour Market Analysis by Distribution Channels
The direct sales sector dominated the market and held 82.8% of the global revenue share. Many uses for banana flour have been discovered in the food, beverage, pet food, pharmaceutical, nutraceutical, and other end-use industries. Manufacturers of foods and beverages all around the world are turning to banana flour as a gluten-free substitute. A popular ingredient in baking, dessert and sweet items is banana flour.
However, because more homes are using banana flour to prepare various foods and recipes, the indirect sales category is anticipated to expand significantly throughout the projection period. Retail sales of banana flour through supermarkets, hypermarkets, and other retail channels like multi-level marketing (MLM), convenience stores, and pharmacies are examples of indirect sales.
Global Banana Flour Market Size By Distribution Channels 2022(%)
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Banana Flour Market Regional Insights
Asia Pacific dominated the market and had the highest revenue share, at about 35.9%. The world's top banana producers include nations like India, China, the Philippines, Indonesia, and many more. Asia Pacific is also one of the most populous regions with the biggest food and beverage consumption base. Although bananas are historically eaten as fruit in the Asia Pacific region, the popularity and health advantages of banana flour have caused a change in consumption patterns over the past 10 years.
The Middle East and Africa region are also witnessing significant growth in the banana flour market, driven by the increasing awareness about the nutritional benefits of banana flour, growing health and wellness trends, and expanding food and beverage industries. Countries such as South Africa, Egypt, and Nigeria are major contributors to the market growth in this region.
Global Banana Flour Market Size By Geography, 2022-2030
- Largest
- Fastest
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Banana Flour Market Dynamics
Banana Flour Market Drivers
Increasing Consumer Demand for Healthy and Gluten-Free Food Products to create Demand for Banana Flour
- With a growing focus on health and wellness, consumers are increasingly seeking out healthier food options. Banana flour, being a natural and gluten-free ingredient with high resistant starch content, fiber, and other essential nutrients, is gaining popularity among health-conscious consumers. The demand for banana flour is driven by its potential health benefits, such as improved gut health, weight management, and blood sugar regulation, which are driving its adoption in various food and beverage applications.
- Banana flour is versatile and can be used in a wide range of food and beverage applications, including bakery, confectionery, infant food, dietary supplements, and more. It can serve as a functional ingredient, providing properties such as viscosity, texture, and flavor enhancement, making it a popular choice in the food and beverage industry. The increasing utilization of banana flour in various food applications is driving the demand for banana flour.
Banana Flour Market Restraints
Limited Banana Flour Production and Supply to Hinder Market Growth
- Banana flour production is limited compared to other types of flour, as it requires specific varieties of green bananas that are not suitable for fresh consumption. The availability of these bananas may be constrained by various factors such as weather conditions, disease outbreaks, and market demand. Limited production and supply of banana flour may result in higher prices, which can be a restraint for its adoption in some markets.
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Banana Flour Market Competitive Landscape
Market participants operating in the industry are expanding their investments in R&D operations to create the highest-quality banana flour at competitive pricing. In order to guarantee a steady supply for customers, manufacturers are also expected to form alliances with e-commerce portals. To expand their geographical presence and product availability, major firms are concentrating on merging with and buying small and medium-sized banana flour suppliers and producers.
Top Player’s Company Profiles in Banana Flour Market
- Zuvii (United States)
- International Agriculture Group (United States)
- Diana Group (France)
- Stawi Foods and Fruits Limited (Kenya)
- Ingleton Company LLC (United States)
- Pereg Gourmet (Israel)
- Nutryttiva Alimentos Ltda (Brazil)
- Barely Bread (United States)
- KADAC Pty Ltd (Australia)
- WEDO Banana Flour (United States)
- NuNaturals (United States)
- Banana Flour Manufacturers Ltd. (United Kingdom)
- ADM Wild Europe GmbH & Co. KG (Germany)
- Naturkostbar AG (Switzerland)
- Banafood Services (Ecuador)
- JAB Dried Banana Flour (Thailand)
- Cambrian Solutions Inc. (Canada)
- Iban Int. Ingredients (Netherlands)
- H.E. Beasley & Co. (United States)
- Diana Food (United States)
- Queen Anne's Lace (United States)
- Earth's Choice BV (Netherlands)
Banana Flour Market Recent Developments
- In February 2023, Banana partnership announced in Somalia by Fresh Del Monte and Talc Investment
- In July 2022, Tropic Biosciences, a company that edits crop genes, received $35 million in new funding. According to Tropic Biosciences, because of its initial focus on rice, coffee, and bananas, their technique has the potential to affect more than half a billion people worldwide. Each of those three markets is valued more than $400 billion.
Banana Flour Key Market Trends
- With the growing consumer demand for gluten-free and grain-free products, banana flour is gaining popularity as a suitable alternative to traditional flours like wheat flour. Banana flour is naturally gluten-free and grain-free, making it an attractive option for consumers with celiac disease, gluten sensitivity, or those looking for alternative flour options. The increasing demand for gluten-free and grain-free products is driving the adoption of banana flour in various food and beverage applications.
Banana Flour Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the global banana flour market is experiencing growth driven by factors such as increasing demand for gluten-free and grain-free products, rising awareness about the health benefits of banana flour, growing interest in plant-based and natural ingredients, innovation in product development and application, focus on sustainable and eco-friendly ingredients, and increasing market penetration in emerging regions. However, challenges such as limited availability of suitable bananas and relatively higher cost of banana flour may impact the market growth to some extent. The growing interest in plant-based and natural ingredients is boosting the demand for banana flour.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 859.02 million |
| Market size value in bbz" | USD 1566.03 million |
| Growth Rate | 6.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Banana Flour Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Banana Flour Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Banana Flour Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Banana Flour Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Banana Flour Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Banana Flour Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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