Banana Flour Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Banana Flour Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The banana flour market is expected register a CAGR 4.4% during the forecast period, 2020-2025. Banana is one of the largest fruits produced, which results in its excess production. This is encouraging the flour food industry to utilize the excess stock by processing it into products like banana flour. The purchase volume of these unripe banana flour products is increasing among consumers due to their high nutritional value.

Key Market TrendsIncreasing Application in Bakery Products

Banana flour is gaining wider acceptance from bakers (including artisanal bakers) and chefs who innovate with banana flour. Banana flour provides the same or even better results as wheat flour. Flour made from wheat or corn cannot be used alone, as it needs to be blended with other grain-based flour. However, banana flour can be used directly. Banana flour is becoming a popular as a binding agent in the baking industry. Furthermore, banana flour imparts a grainy, light, and fluffy texture to baked products. Unripe bananas also provide a mild flavor and aroma of banana. All these factors contribute to the increasing adoption of banana flour in the baking industry, which is helping in driving the market further.

Increasing Production of Banana around the World

A key factor driving the growth of the market is the increase in production of unripe bananas across the geographies, particularly in developing economies, such as India, China, and Brazil. Banana is the second-largest fruit produced, after citrus fruits. Owing to excess banana production, large volumes of bananas are wasted annually. Therefore, the food industry is taking various measures to increase their utilization and process the excess stock into products, such as banana flour, which can be further applied in preparation of various healthy food and beverage products. Thus, the utilization of the excess stock of unripe bananas for processing into banana flour and the high nutrition value it provides are expected to drive the growth of the market, globally.Moreover, rising awareness of the health benefits of banana flour and the increasing popularity of the Paleo diet are some of the major factors that are boosting theapplications of banana flour in various food and beverage products around the world.

Competitive Landscape

The global banana flour market is a fragmented, with companies in the market focusing on leveraging on online platforms for improving the visibility and reachability of their products. Thus, in order to attract customers to buy their banana flour, companies are offering various characteristics and benefits in their products, such the gluten-free and USDA-certified labels. Some of the key players operating in the market are KADAC Pty Ltd, NuNaturals, and Natural Evolution (Europe) Limited.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Woodland Foods
KADAC Pty Ltd
NuNaturals
Natural Evolution (Europe) Limited
Edward & Sons Trading Co.
GILL SCHNEIDER
Pereg Gourmet Natural Foods
Ceres Enterprises Ltd
Kokos Natural
Hearthy Foods

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