Global Banana Flour Market - 2022-2029

Global Banana Flour Market - 2022-2029

Market Overview

The global banana flour market is valued at USD XX million in 2021 and is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Banana flour is a powder derived from green bananas high in dietary fibers, carbs, cellulose, essential amino acids, hemicellulose, and starch. Banana flour has long been a cheaper substitute for wheat flour in Africa and Jamaica. It is currently commonly used as a gluten-free substitute for wheat flour or as a source of resistant starch, supported by recent nutritional studies and certain eating fads such as paleo and primal diets. This pushes the flour food industry to turn extra stock into banana flour and other items. Because of their great nutritional content, people are purchasing more of these unripe banana flour products.

Market Dynamics:

Increasing application in bakery products

Banana flour is a gluten-free powder made from green bananas high in essential amino acids, carbs, starch, and dietary fibers. It is also used in a variety of baked items. Due to the rise of the banana flour market and its multiple health benefits, there is a growing demand for increasing immunity. Banana flour produces similar, if not superior, results to wheat flour. Banana flour is becoming increasingly used as a binding ingredient in the baking industry. Furthermore, banana flour gives baked goods a grainy, light, and fluffy texture. Unripe bananas also have a slight banana flavor and scent. All of these aspects contribute to the growing use of banana flour in the baking industry, which is propelling the market forward.

Additionally, after citrus fruits, bananas are the second most popular fruit. Large amounts of bananas are wasted each year as a result of overproduction. As a result, the food industry is taking various steps to boost usage and convert extra stock into goods like banana flour, which can be used to make a variety of healthful food and beverage items. As a result, the utilization of extra unripe banana stock for processing into banana flour and the high nutritional value it provides is predicted to fuel market expansion internationally. Banana production has grown rapidly, registering a performance of +15 percent since 2008. There has also been a rise in awareness about banana flour being a gluten-free product. The most important factor driving the banana flour market is increased green banana production. Furthermore, as people become more aware that banana flour is a gluten-free product, demand for gluten-free products has increased, which has boosted the banana flour industry.

However, there are many obstacles limiting market expansion, including unpredictable economic growth as a result of decreased commodity prices and fewer developments. Increased acceptance of banana flour in the bakery and other end would improve the market scenario, encouraging manufacturers and major enterprises to be more inventive.

Market Segmentation:

Resistant starch held the highest market revenue in the year 2021

Nutritional researchers and dieters have discovered that banana flour (green variety) is a good and beneficial source of resistant starch. The term resistant starch refers to starch that does not break down in the small intestine and instead reaches the large intestine, which acts as fermentable dietary fiber. Depending on the drying techniques used for the individual product, banana flour might have a high resistant starch percentage (>60%) or a low resistant starch content (10%). Because boiling might diminish the resistant starch level, banana flour is commonly used raw, such as in smoothies or nutrition bars. Banana resistant starch sped up the movement of the small intestine and reduced the time it took to defecate but had no effect on body weight or food intake. As a result, BRS could help with constipation by enhancing intestinal motility.

Based on the application, animal feed is the fastest-growing the global banana flour market segment. As global demand for milk and meat rises, the utilization of crops for human diet and animal feed is becoming increasingly competitive. For example, global grain output has decreased in recent years, resulting in depleted stockpiles and skyrocketing prices, making it unprofitable to continue feeding grain to cattle at the same rate as in the past. As a result, there is more reason than ever to employ any crop or by-product that could serve as animal feed, particularly in tropical locations where animal protein for human use is scarce. Banana flour is used as animal feed in various parts of the world. In particular, it is used as an ingredient in milk replacers for calves. Dynasty Banana Flour Manufacturing and Trading in the Philippines and Taj Agro Products in India export banana flour worldwide in livestock feed.

Geographical Penetration:

Asia Pacific is expected to be the dominating region during the forecast period

The Asia-Pacific region has emerged as the leading region in the global banana flour market. Banana flour is widely consumed in Asia's major regions, India and Australia. Among the other countries, India is at the forefront of banana cultivation. The increase in production of unripe bananas across geographies, particularly in developing economies like India, and China, is a key factor driving market expansion. After citrus fruits, bananas are the second most popular fruit. Large amounts of bananas are wasted each year as a result of overproduction. As a result, the food industry is taking various steps to boost usage and convert extra stock into goods like banana flour, which can be used to make a variety of healthful food and beverage items. The utilization of extra unripe banana stock for processing into banana flour and the high nutritional value it provides is predicted to fuel market expansion internationally. Furthermore, expanding knowledge of banana flour's health benefits and the growing popularity of the Paleo diet are two important factors driving banana flour's use in a variety of food and beverage products around the world.

Competitive Landscape:

The global banana flour market is fragmented, with players focused on using online channels to increase product awareness and reachability. Companies offer numerous qualities and benefits in their products, such as gluten-free and USDA-certified labels, enticing people to buy banana flour. Some of the key players operating in the market are KADAC Pty Ltd, NuNaturals, and Natural Evolution (Europe) Limited. International Agriculture Group and Natural Evolution, both based in the United States and Australia, have imported or produced banana flour. For persons with celiac disease or who want a gluten-free diet, these flours are advertised as a gluten-free alternative to wheat-based flours.

COVID-19 Impact:

Positive impact on the global banana flour market

The COVID-19 pandemic is one of the world's most serious socioeconomic and health crises. There is rarely any industry or person that has escaped the pandemics and subsequent lockdown unscathed, whether financially or existentially. Although there appears to be an onslaught of bad news in the pandemic, there has also been a silver lining, namely a visible positive behavioral change in people's nutritional habits around the world, such as a shift in eating habits, particularly among urban populations, who generally (pre-COVID) consume more processed fast foods and eat out more than their rural counterparts. A well-balanced diet and nutrition can be an effective COVID-19 infection prevention strategy. As a result, citizens began to pay attention to the food they ate, ensuring that it was healthy, in addition to using home treatments to increase immunity, thus driving the global banana flour market. People with means worldwide began eating more fruits and vegetables while reducing their intake of fried foods, sugar, and salt. Consumers realized the importance of including safe and nutritious meals in their diets due to the pandemic. Although the COVID-19 pandemic has had a detrimental impact on the worldwide banana flour industry due to supply chain and production delays, increased demand for healthy food components will partially offset this negative impact.

Why Purchase the Report?

Understand the current market scenario and viability of global banana flour over the forecast period

Visualize the composition of the global banana flour market in terms of type, characteristics, application and region to identify major players, growth potential, and market strategies

Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period

Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market

What we offer?

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study

Excel data sheet with valuable data points of the global banana flour market – Regional and Country level segmentation

Product mapping in excel for the key products of all major market players

Market Share Analysis covering business revenues ($) and revenue share (%) of key market players

The global banana flour market report would provide an access to approximately 62 market data tables, 56 figures and 185 pages

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