In 2022, the global green banana flour market was valued at USD 623 million. As consumer preferences shift towards organic and gluten-free options, the market is projected to grow to USD 1,026.1 million by 2033, with a compound annual growth rate (CAGR) of 5% from 2023 to 2033.
Infants benefit from green banana flour due to its easy digestibility, and advancements in manufacturing techniques have accelerated market growth. The widespread use of green banana flour across various sectors, including confectionery, baking, snacks, infant food, and fillings and dressings, positively impacts its market expansion.
The growing consumer preference for healthy, nutrient-rich foods is a major driver of market revenue growth, particularly due to the antioxidants in green bananas that enhance cellular health and reduce harmful free radicals. Additionally, the increasing popularity of gluten-free products among health-conscious consumers further boosts market revenue.
In the Asia Pacific region, which has a large and diverse food and beverage consumer base, green bananas have traditionally been used as vegetables. However, in the past decade, there has been a notable shift as awareness of the health benefits and value of green banana flour has risen. Consequently, manufacturers in the region are increasingly focusing on producing banana-based products, as bananas are seen as 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%.
Competitive Landscape
The key players in this market include:
- 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.
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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
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