Banana Flour Market
The study of the past and the current market trends of the global Banana Flour Market indicate that this sector is expected to grow with a CAGR of around 4.5% during the forecast period 2022-2028.
Like many other sectors, Banana Flour Market has also suffered due to the COVID-19 pandemic. Due to lockdown and logistics problems, the sales had gone down during the pandemic period but the market is expected to revive and achieve huge profits during the projected period.
To fulfill the rising demands for banana flour in bakery, infant food, and dietary sectors, manufacturers are switching over to the online platform. Banana flour has many nutritional constituents. Banana flour has rich content of sulphur, iron, magnesium, calcium, and potassium. This flour is also rich in B6 and Vitamin C.
Due to its fluffy texture, it need not be mixed with other flours before using it for baking. The use of banana flour adds extra taste and aroma to the food. As many renowned bakers and chefs are preparing innovative dishes using banana flour, this has opened up opportunities for the global Banana Flour Market Growth.
Lesser availability of banana flour and its higher cost as compared to the other flours may restraint the steady growth of the market in the coming years. The introduction of low-cost flour alternatives in the market may also affect the growth of this sector. But the increasing awareness of the nutritional benefits of banana flour among people will help the market to achieve the projected revenue within the forecast period.
Key Players
Listed below are some of the major companies of the global banana flour market:
- Stawi Foods and Fruits Limited (Kenya)
- WILD Flavors and Specialty Ingredients (US)
- Paradise Fruits Solutions GmbH Co.KG (Germany)
- Pereg Gourmet Spices (US)
- Ceres Organics (New Zealand)
- M-Pak (South Africa)
- Kanegrade Ltd (UK)
- Natural Evolution (Australia)
- International Agriculture Group (US)
Market Segmentation
The huge global market of Banana flour is segmented based on source, distribution channel, packaging, and region.
Based on the source, the market is again divided into organic and conventional.
Based on packaging type, the global Banana Flour Market is divided into pouches, boxes, and others.
Based on the distribution channel, the market is divided into supermarkets, retail stores, and convenience stores.
Regional Classification
Based on the region, the global banana flour market size is divided into North America, South America, Asia-Pacific, Europe, and the Middle East Africa.
The Asia-Pacific region is expected to dominate the global Banana Flour Market Share during the forecast period. The key reasons are urbanization, increased health awareness among people, and preference for the vegan diet.
North America is also expected to have steady growth as most of the key players of this sector have their set up there.
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Industry News
Banana Flour is one of the alternatives to unhealthy flour. Due to its sweet aroma and fluffy texture, the use of banana flour in the baking industry is increasing. Due to the nutritional value and good taste of banana flour, the global Banana Flour Market is anticipated to grow significantly during the forecast period. Chefs across the globe are trying to use banana flour innovatively and this will contribute towards the steady growth of the market in the coming years.
Banana is the second-largest produced fruit in the world and a large amount of the production get wasted. The food industry is incorporating various measures to increase the utilization of bananas and their storage. These initiatives are going to give a boost to the growth of this market in the coming years.
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