Global Banana Flour Market Size, Share & Industry Trends Analysis Report By Nature (Conventional and Organic), By Processing, By Form (Unripen and Ripen), By Distribution Channel, By End-use, By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Banana Flour Market
Market Report Description
The Global Banana Flour Market size is expected to reach $1.1 billion by 2028, rising at a market growth of 6.5% CAGR during the forecast period.
Banana flour is a powder prepared from green bananas. Traditionally, banana flour has long been used as a cheaper substitute for wheat flour in several developing and under-developed countries. It is now commonly used as a gluten-free substitute for wheat flour or as a form of resistant starch, which has been encouraged by various nutritional studies and certain eating fads, such as paleo and primal diets. Banana flour has a moderate banana flavor while raw and an earthy, non-banana flavor when cooked owing to the inclusion of green bananas. It also has a texture similar to lighter wheat flours and requires around 25% less volume, making it a viable substitute for white as well as white whole-wheat flour.
Nutritional researchers and dietitians have discovered that banana flour (green variety) is a very good and useful source of resistant starch. Resistant starch refers to starch that does not break down in the small intestine and instead reaches the large intestine, in which it serves as a fermentable dietary fiber. Depending on the drying techniques used for the individual product, banana flour might have a high resistant starch level (>60%) or a low resistant starch content (10%). Because boiling can reduce the level of resistant starch, banana flour is typically used raw, like in smoothies or nutrition bars. Animal feed made from banana flour is utilized in many regions of the world. It is utilized as a component in calves' milk replacers in particular.
In addition, banana flour is one of the most prevalent classes of flour that can be suited for gluten-free, keto, paleo, or simply any healthy food options. Unlike all-purpose flour, which is made with wheat, banana flour is made from bananas. It's gluten-free, paleo-friendly, and fruit-based, so it's truly unique. It also comprises a number of health benefits, such as improved digestion. Banana flour, unlike wheat flour, is healthier as it includes a variety of nutrients and vitamins that are derived from bananas.
COVID-19 Impact Analysis
The COVID-19 pandemic has had a negative impact on almost all businesses, however, the food and beverages sector is one of the most impacted industries all over the world. The pandemic has disrupted the food business, including the market for banana flour. Although there has been an increase in demand for gluten-free items like banana flour, supply chain and production bottlenecks and closures have restricted banana flour production across the market. Furthermore, rising consumer awareness of health and a stronger immune system presents a lucrative prospect for the market. Consumers have made health and healthful foods, such as banana flour, a priority. As a result, COVID-19 has a low to moderate influence on the banana flour market.
Market Growth Factors
Increase in the number of health-conscious consumers
In the modern era, people are increasingly becoming more conscious of their health, due to which, they are shifting to more healthy and nutritional products. With an increase in the trend of fitness and sports, a majority of people all over the world are following strict fitness schedules. In addition, after the outbreak of the COVID-19 pandemic, more people are focusing on enhancing their health. As a result of all these factors, there is a surge in the demand for healthy food across the world. This factor is playing a major role in accelerating the adoption of banana flour among people.
Government initiatives to reduce banana waste
Researchers and officials from several countries have proposed banana flour manufacture as a remedy for high rates of waste among banana crops. Unripe green bananas are culled and discarded because they are unfit for sale or export. These plucked green bananas are still excellent for banana flour manufacture, and if utilized for this purpose, banana waste would be reduced greatly. As a result, banana farmers will be able to make more money from their crops, the environmental impact of those crops would be minimized, and food supply would also grow as a previously discarded food source will now be leveraged. Various companies have begun producing overripe banana flour, which is manufactured from overripe banana peels and fruit.
Market Restraining Factors
Side effects related to banana flour
Despite a significant number of benefits, banana flour also has several side effects that can occur due to its consumption. Chemicals and sugars can be found in bananas. Some of these sugars have a fiber-like effect, which can assist regulate the digestive system. The compounds could work as antioxidants, reducing edema. Potassium, as well as other vitamins and minerals, are found in bananas. However, eating fresh green banana flour has plenty of side effects. For instance, if ingested in large quantities, banana flour comprises a number of adverse effects that can occur.
Based on Nature, the market is segmented into Conventional and Organic. In 2021, the conventional segment acquired the largest revenue share of the banana flour market. Banana fruits and plants are recognized for their health advantages, as they are nutritious and provide a rich dose of fiber, vitamin A, vitamin B6, resistant starch, vitamin C, and potassium. As a result, demand for conventional banana flour is rising across the world. Banana flour is made from unpeeled bananas and has more minerals, dietary fiber, total phenolic content, and antioxidant activity than banana flour made from peeled bananas.
Based on Processing, the market is segmented into Spray/Drum Dried, Sun Dried, Freeze Dried, and Others. In 2021, the sun-dried segment recorded a substantial revenue share of the banana flour market. The rising growth of the segment is owing to the authenticity of this process. Sun-dried banana flour is one of the most natural flour types, due to which, it is being highly consumed all over the world. In addition, this process is also one of the most cost-effective processes due to the fact that the sun is a natural resource and can be used without spending a significant amount of money.
Based on Form, the market is segmented into Unripen and Ripen. In 2021, the unripen segment witnessed the largest revenue share of the banana flour market. Bananas are one of the most frequently produced tropical fruits in the world. Bananas come in over 1000 varieties all over the world. Green and yellow bananas are high in a range of nutrients. Vitamin B6, potassium, and vitamin C, among other minerals, are abundant in unripen bananas. They are almost entirely composed of carbohydrates, with little protein or fat.
Distribution Channel Outlook
Based on Distribution Channel, the market is segmented into Direct Sales and Indirect Sales. In 2021, the indirect sales segment witnessed a significant revenue share of the banana flour market. The growth of this segment is surging due to the rising usage of banana flour in households for various cuisines and recipes. Retail sales of banana flour via hypermarkets, supermarkets, and other retail channels like multi-level marketing, convenience stores, as well as pharmacies are examples of indirect sales. The bulk use of banana flour by end-users, on the other hand, is likely to keep direct sales segments dominating.
Based on End-use, the market is segmented into Food Industry, Beverages, Retail/Household, and Others. In 2020, the food industry segment acquired the largest revenue share of the banana flour market. Banana flour has a number of uses in the food business, including a gluten-free substitute for wheat flour. In addition, in the bakery sector, banana flour is frequently used to create natural gluten-free as well as nut-free items for health-conscious consumers. Green banana flour is currently being used to make better and more nutritious pasta dishes.
|Market size value in 2021||USD 727.5 Million|
|Market size forecast in 2028||USD 1.1 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 6.5% from 2022 to 2028|
|Number of Pages||259|
|Number of Tables||519|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Nature, Processing, Form, Distribution Channel, End-use, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2021, LAMEA held a substantial revenue share of the banana flour market. Celiac disease, gluten sensitivity, as well as wheat allergy are all causes of gluten intolerance. As a result, banana flour is emerging as a nutritious, gluten-free substitute for the region's typical grain flour. Due to this, the demand for banana flour is anticipated to increase over the forecast period. In addition, the market in the Middle East and Africa is expected to grow at a high rate.
Free Valuable Insights: Global Banana Flour Market size to reach USD 1.1 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Symrise AG (Diana Foods), Woodland Foods Limited, Saipro Biotech Private Limited, LiveKuna, Pereg Natural Foods Inc., Seawind International, LLC, NuNaturals Ltd., Miski Organics (Miski Group), and Synergy Food Industries.
Scope of the Study
Market Segments Covered in the Report:
- Spray/Drum Dried
- Sun Dried
- Freeze Dried
By Distribution Channel
- Direct Sales
- Indirect Sales
- Food Industry
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Symrise AG (Diana Foods)
- Woodland Foods Limited
- Saipro Biotech Private Limited
- Pereg Natural Foods Inc.
- Seawind International, LLC
- NuNaturals Ltd.
- Miski Organics (Miski Group)
- Synergy Food Industries
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North America Banana Flour Market Report 2022-2028
Europe Banana Flour Market Report 2022-2028
Asia Pacific Banana Flour Market Report 2022-2028
How valuable will the banana flour market be in the future?
The global banana flour market size is expected to reach $1.1 billion by 2028
What are the key driving factors and challenges in the banana flour market?
Increase in the number of health-conscious consumers are driving the market in coming years, however, side effects related to banana flour limited the growth of the market.
What are the major top companies in the competitive landscape?
Symrise AG (Diana Foods), Woodland Foods Limited, Saipro Biotech Private Limited, LiveKuna, Pereg Natural Foods Inc., Seawind International, LLC, NuNaturals Ltd., Miski Organics (Miski Group), and Synergy Food Industries.
Which segment shows a high revenue share of the banana flour market in 2021?
The Direct Sales segment acquired maximum revenue share in the Global Banana Flour Market by Distribution Channel in 2021, thereby, achieving a market value of $871.7 million by 2028.
Which segment is leading the market in 2021?
The Spray/Drum Dried segment is leading the Global Banana Flour Market by Processing in 2021, thereby, achieving a market value of $520.9 million by 2028.
Which region dominated the banana flour market in 2021?
The Asia Pacific market dominated the Global Banana Flour Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $415.1 million by 2028.