The global banana bread market was worth US$ 980.3 Million in the year 2022 and is expected to reach US$ 1.52 Billion by the year 2032 at a CAGR of 4.5% between 2022 and 2032.
Banana is helpful with regards to keeping the digestive system and heart healthy. Secondly, it aids in weight management as well. These health benefits are expected to take the banana bread market to a new ‘high’ in the forecast period. It is a known fact that bread is widely preferred as a breakfast item. On having banana bread on the platter, NQ (nutrition quotient) would be at its peak.
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Banana is rich in vitamin B6, potassium, vitamin C, carbs, and fiber. These nutrients help in boosting the immune system as well (apart from digestion and heart health). The key participants (of bakery products) are switching to low sugar, gluten-free, and vegan banana bread. Furthermore, various flavors are being offered with banana bread; like blueberry, strawberry, peach, oats, pineapple, vanilla, oats, cheese, cream, apple, and chocolate.
The deep-pocket market giants on this count include Walmart, Auchan, Apar, Sainsbury’s, Tesco, Alsi, and 7Eleven. Online sales channels are witnessing maximum turbulence as far as sales are concerned. This could be credited to the convenience factor involved. Doorstep delivery is another factor to work in their favor.
At the same time, growing intake of honey, jam, and brown sugar is expected to hamper the banana bread market in the upcoming period. Plus, the fact that banana contains an exceeding quantity of refined carbohydrates can’t be ignored. Additionally, conventional café-style banana bread contains white flour; which isn’t looked upon as ideal regarding human health due to higher glycaemic index that could spike blood sugar level.
Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Banana Bread Market’. It has its team of analysts and consultants to deploy a 360-degree view across macros and micros.
“With banana loaf reported to be lighter and more nutritious, the global banana bread market is likely to grow on a remarkable note in the near future”, says an analyst from Future Market Insights.
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Key Takeaways from Banana Bread Market
- North America holds more than 30% of the market share with the US being subject to rising demand for banana bread for sandwiches and cheese bread. The customers are laying their hands on new products like banana-based variants with improvised taste, flavor, and nutritional properties.
- Europe holds more than 25% of the market share due to the UK being the largest consumer of all kinds of bread. Also, the customers are demanding pre-packaged convenience goods; thereby driving the market in Europe.
- The Asia-Pacific is expected to grow at a rapid pace in the banana bread market in the forecast period with China and Japan leading from the front. The health-conscious and ones intolerant to gluten have the option of gluten-free banana bread to choose from.
- The MEA is expected to grow on the back of growing demand for nutritionally balanced bakery products.
Competitive Analysis
- Woolworths Supermarkets, in January 2020, did launch a new-fangled banana bread product with 2 varieties – original and Cadbury chocolate chip. This tabling came through in Australia.
- Wheyhey, in May 2021, did launch a trio of novel flavors with Dalgona coffee flavors, sourdough, and banana bread. The new bread is a creamy banana serve claiming of broken chunks of dampened banana bread throughout.
- HomeChef Magic does offer banana bread, chicken breasts, sourdough, Dalgona coffee, and chocolate cake to customers. During the pandemic, the company did deliver nutritious, home-cooked food to the ailing patients.
- GoNanas provides gluten-free, vegan, and top allergan-free banana bread to customers. It provides diversely flavored banana bread mixes.
What does the Report Cover?
- The research study is based on product (unflavoured banana bread and flavored banana bread), and by distribution channel (supermarket & hypermarket, convenience stores, online, and others).
- With end-consumers preferring nutritious and healthy bakery products with extra medicinal properties, the global banana bread market is expected to grow on a good note in the years to come.
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Key Segments Profiled in the Banana Bread Industry Survey
Banana Bread Market by Product:
- Unflavored Banana Bread
- Flavored Banana Bread
Banana Bread Market by Distribution Channel:
- Hypermarket & Supermarket
- Convenience Stores
- Online
- Others
Banana Bread Market by Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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