Banana powder Market: Overview
Banana are the most widely consumed food, globally. Consumption of banana helps in lowering blood pressure, reduce the risk of asthma, and also protect from cancer. Banana are rich in potassium and fibers and so is banana powder. Banana powder is made from processed bananas and are the main component in baby food, milk shakes, bakery products and others.
Banana powder is also a major source of carbohydrate and calories which makes it more ideal component for infant formula. In terms of value, the global banana powder market is expected to reach a market value of US$ 774.4 Mn by the end of 2027, with an anticipated CAGR of 3.9% over the forecast period.
The drivers for the growth of the banana powder market include rising demand for anti-diarrheal in pharmaceutical, rise in production of bakery products using banana powder, increase in use of banana powder for baby food, banana powder is an alternative for gluten free products.
Global Banana Powder Market: Drivers
The rising demand for natural anti-diarrheal in pharmaceuticals
According to the information provide by WHO, diarrhea is considered as the second-largest cause of deaths in children. Each year approximately 500,000 children under five years are dying due to diarrhea disease. Major cause of diarrhea is malnutrition. Bananas are showing effective results than anti-diarrhea medications in reducing diarrhea in subjects with C. Diff infection and tube fed critically ill patients.
Owing to the benefit of banana administration that has been helping patients to control diarrhea, many pharmaceutical companies have been coming up with banana -associated products to treat diarrhea. Hence, in pharmaceutical industry, this health beneficial factor is expected to drive the demand for banana powder.
Global baby food market has witnessed significant growth rate
The baby food market is growing as a competitive industry globally. Retail sales in this segment have been growing at a faster rate, and are projected to be valued around 76 Bn U.S. dollars by 2021, making it one of the fastest growing food and beverage categories. China was the biggest market for baby food in 2016 with over 12 Bn US$, with the United States the second position with 7 Bn US$.
In the production of infant formula, the banana powder has been used as one of the main ingredients. This rising demand for natural ingredients in baby food and increasing value sales for banana powder helps drive its demand, globally. Baby food forms the largest segment in India and accounts for 50.52 percent of the total retail sales in the baby food and formula market. India accounts for the largest population of 0-4-year-olds in Asia.
Additionally, according to the Indian Ministry for Women and Children Welfare, banana, in its powder and pulp form, is being advised to be fed to children as a first infant food. As a result, there is a rising demand for banana powder in the Indian baby food sector.
The increase in the demand for gluten-free products
The demand for gluten free products is expected to increase in countries like Spain, Germany, Brazil, U.K., U.S., Canada, Australia, and India. In most of Middle East and Africa region the banana powder is widely used as gluten free replacement for wheat powder. The banana powder market is expected to increase due to rising demand consumption of gluten free products.
According to the Institute of Food Technologists, the global gluten-free product market will reach US$ 6.2 Bn by 2018, registering a growth rate of 10.2% a year. The Canadian gluten-free market was valued at more than US$ 450 Mn in 2012, after experiencing a compound annual growth rate of 27 percent between 2008 and 2012.
Rising consumption rate of sauces, dressings, and condiments
There is rise in demand for banana powder as an important ingredient in banana based sauces with different cuisines. Globally the U.S. is expected to be the leading country in the global sauces, dressings, and condiments market. According to the data of Agriculture and Agri-Food Canada, post-recession, American consumers have turned more towards packaged food products. The allocation of food dollars shifted away from restaurants and towards supermarkets instead. As a result, there has been a rise in the consumption rate for sauces, dressings, and condiments in this region.
The increasing popularity of home cooking continues to grow, and is expected to fuel the positive growth of banana powder market. Banana powder, being one such ingredients used in the production of sauces and dressings, is expected to be in high demand in Middle East and European regions over the forecast period. India is the largest market for sauces, dressings, and condiments in Asia Pacific region.
The increase in production rate of bakery products
Very large number of companies are active in the sector of production of bakery products. Banana powder is used as a one of the main ingredients in many bakery products especially in production of bead. The value of the fresh bread quantity produced in Romania increased over 6%, whereas, the value of cake and pastry products made in Romania increased by 25.2% in 2015. In U.K. there is increase in adaptation of American style baked goods which mainly includes fruit powder based products.
Among consumers the banana powder is growing as a preference as it serves the purpose of being healthy. With increase in knowledge and food safety concerns, the health conspicuous consumers are turning to use of natural and organic ingredients in food products and a rise is observed in potential buyers. According to the USDA, the Chinese bakery industry was worth US$ 16.9 Bn in 2012. This sector has seen year-on-year growth, with current value sales growing by 15%.
The population in china are increasingly concerned about health and nutrition, so products that promote vitamin fortified, high fiber, or low sugar are likely to see rising sales in the coming years. As a result, there is rise in the consumption of bakery goods made by cooking banana.
Banana Powder Market: Introduction
The proposed market report of TMR on the global banana powder market evaluates the opportunities in the current scenario, and provides the latest updates and detailed insights corresponding to different segments involved in the global banana powder market during the forecast period 2019-2027. The banana powder market report further indicates the estimated data for 2018, and forecast data up to 2027 in terms of value (US$ Mn) and volume (MT).
The present study exhibits the market dynamics and trends of the banana powder market in regions such as North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. The report includes the market growth drivers and challenges for the global banana powder market, and their impact on each region during the forecast period. The report also comprises the study of the drivers, restraints, threats, and opportunities for the banana powder market to provide a substantial view. It also includes the value chain analysis and opportunity analysis of the market.
Banana Powder Market: Report Description
The report explores the global Banana Powder market for the period 2019-2027. The principal objective of the Banana Powder market report is to provide insights into key developments in the market that are constantly supporting the transformation of global businesses that are associated with Banana Powder. It is very important to consider that, in an ever-wavering economy, we provide the estimated (Y-o-Y) year-on-year growth rate in addition to the Compound Annual Growth Rate (CAGR) for the overall forecast, to better understand the analysis and evaluation of the global banana powder market, and to discover justifiable opportunities.
The unique key feature of this report is that, the evaluation of the global banana powder market and its relative revenue forecast is carried out in terms of absolute dollar opportunity. This is usually not considered while forecasting overall market value. Absolute dollar opportunity analysis is very crucial in evaluating the intensity of opportunity that a provider can observe to execute, as well as to contrast the potential resources from a sales perspective in the global Banana Powder market.
The banana powder market report starts with an elaborate executive summary, the market definition of various segmentations that are included, and their respective shares in the banana powder market. The report also provides insights regarding the major macroeconomic factors that have a significant effect on the growth of the banana powder market. The market report further emphasizes the various dynamic factors that influence the banana powder market, which include the drivers, restraints, opportunities, and trends in the global banana powder market.
The report further underlines the study of the present issues with industrial processing, and opportunities for the banana powder market. It also includes value chain analysis that provides a comprehensive view of the overall profitability from the raw material supplier to the final end user in the banana powder market. In order to give users a clear view of the global banana powder market, we have exhibited a competitive analysis of key market participants and their strategic developments. The competitive dashboard presents a detailed comparison of global manufacturers of banana powder on vital parameters such as product portfolio, total revenue, key developments, and key strategies. The study presents the Banana Powder market attractiveness analysis by application, process, source, distribution channel and region.
To analyze the overall market size of Banana Powder, the report on the Banana Powder market considers various preliminary aspects based on secondary research. Furthermore, it highlights quantitative estimation such as market share by application, process, source, distribution channel and region, and other qualitative data from primary respondents, which have been integrated to arrive at unambiguous and accurate market estimations. The forecast presented in the banana powder market report arrives at the total revenue being generated, and the expected revenue contribution in the future by the global banana powder market.
Detailed profiles of various companies that manufacture banana powder are included in the report to evaluate their developmental strategies, product offerings, and recent developments, as they have a significant role in the banana powder market. Major market players covered in the Banana Powder market report are Zuvii, Made’s Banana Powder Co., ADM WILD Europe GmbH & Co.KG, NuNaturals, Inc., Stawi Foods and Fruits Limited, Slingan Pty Ltd., Royal Nut Company, Absolute Organic, NOW Health Group, Inc., Pereg, Gourmet Spices, KADAC Pty Ltd, Saipro Biotech Private Limited., Banatone Food Industries, Chiquita Brands International, Inc. and Kanegrade Ltd.
Banana Powder Market: Segmentation
The subsequent sections analyze the global Banana Powder market on the basis of region, end use, product type, form, and compound
On the Basis of Application, the Market for Banana Powder is segmented as-
- Pet Food and Feed Industry
- Food Industry
- Bakery & Snacks
- Infant Food
- Filings & Dressing
- Soups & Sauces
On the Basis of Source, the Market for Banana Powder is segmented as-
On the Basis of Process, the Market for Banana Powder is segmented as-
- Freeze Dried
- Spray Dried
- Sun Dried
- Drum Dried
On the Basis of Distribution Channel, the Market for Banana Powder is segmented as-
- Direct sales
- Indirect Sales
- Modern Trade
- Convenience Store
- Specialty Store
On the Basis of Region, the Market for Banana Powder is segmented as-
- North America
- Latin America
- Rest of LA
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Rest of LA