Global sales of green banana flour were projected to reach USD 623 million in 2022. The market will grow at a CAGR of 5% from 2023 to 2033, reaching a value of USD 1026.1 million due to shifting customer preferences for organic and gluten-free flour.
Infants enjoy green banana flour because it is easier for them to digest, and the invention of cutting-edge manufacturing techniques has sped up market growth. The widespread usage of the product in several industries, including confectionery, baking, snacks, and infant food, filling and dressing, among others, has a favorable effect on the green banana flour market.
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The shift in consumer preference for healthy, nutritious foods with extra health benefits, such the antioxidants present in green bananas that improve cellular health and lower hazardous free radicals, is a key factor promoting market revenue growth. In addition to being gluten-free, meals made with green bananas are also becoming more and more popular with consumers who are worried about their health, which is another factor driving market revenue growth.
Asia Pacific is a populous continent and has a large population of food and beverage consumers. Green bananas have a long history of being used as vegetables in the Asia Pacific area, but during the past 10 years, the trend has shifted as people have become more aware of the value and health benefits of using green banana flour. Manufacturers in the region are more likely to generate banana-related products since bananas have developed into a healthier alternative to refined and raw foods.
Key Takeaways from the Market Study
- Global green banana flour market is expected to be valued at US$ 648 million by 2023
- From 2018 to 2022, the market demand expanded at a CAGR of 2.7%
- From 2023 to 2033, the United States market for green banana flour is projected to account for about 24.5% of global market share.
- China to experience a 5.6% CAGR and India with a 6.7% CAGR from 2023 to 2033.
- By product type, the conventional segment was estimated to acquire 72.6% share in 2022.
- By process, the spray dried process of producing green banana flour occupied a market share of 23.8%.
“Green banana flour is full of nutritional health benefits and along with its is gluten-free. These along with the clean-labels on these flours are boosting the global market.” remarks an FMI analyst.
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Competitive Landscape
Prominent players in the green banana flour market are:
- International Agriculture Group
- Stawi Foods and Fruits Limited
- Natural Evolution Limited
- Made’s Green Banana Flour Co.
- Pereg Gourmet Natural Foods
- Kanegrade Ltd
- Banatone Food Industries
- Slingan Pty Ltd.
- Absolute Organic
- NOW Health Group, Inc.
Some key developments of the leading companies in this market are:
- To substitute wheat flour that contains gluten or to provide resistant starch, Kokos Natural introduced NATIRÈL banana flour, a form of powder that is traditionally manufactured from green bananas. Compared to wheat flour, it takes 25% less volume and has a light texture. It may be added to rotis, infant food, bakery and confectionary goods, Indian farsan, candies, ice cream, as well as smoothies. New nutritional study as well as various dietary fads like the primal and paleo diets have supported this green banana flour.
Key Segments Profiled in the Global Green Banana Flour Market Report
By Product Type:
- Organic
- Conventional
By Process:
- Spray Dried
- Sun Dried
- Freeze Dried
- Others
By Sales Channel:
- Convenience Store
- Specialty Store
- Online Retailers
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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