Banana Flour Market Size, Share, Growth Analysis, By Natural(Organic and Conventional), By Form(Ripen and Unripe), By Region - Industry Forecast 2024-2031

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).

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. '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)'

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.

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.

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.