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Banana Powder Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Report Format: PDF+Excel | Report ID: SR112023A542
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Banana Powder Market Outlook 2023-2028:
The global banana powder market size reached US$ 1,147.0 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,731.1 Million by 2028, exhibiting a growth rate (CAGR) of 6.9% during 2023-2028.
Bananas represent the world’s most consumed fresh fruit and the fourth most important food crop in terms of the gross value of production. Unlike raw bananas, banana powder has a shelf-life of almost two years when stored in a cold storage facility in the absence of oxygen. It finds applications in various industries ranging from cosmetics and food to pharmaceutical and feed industries, which has encouraged its production across the globe.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Banana powder helps to strengthen bones, improve digestion, nutrition absorption and vision, prevent dehydration, regulate blood pressure and relax muscles. In addition, it is highly convenient to use, which leads to low to no product wastage and residue after usage. Moreover, as it restores all the essential nutrients and properties of the raw fruit, it is employed in various recipes in place of bananas. It also helps in increasing the shelf life and utilization of bananas and reduces post-harvesting losses. Apart from this, clinical trials are being conducted to establish the usage of banana powder in the pharmaceutical industry.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global banana powder market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on end use.
Breakup by End Use:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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- Food Industry
- Feed Industry
- Others
Based on the end use, the report finds that the food industry represents the largest segment as banana powder is widely used in the food industry to prepare infant, puffed and cold/frozen food products, seasonings, solid beverages and cakes.
Regional Insights:
- North America
- Asia Pacific
- Europe
- South America
- Middle East and Africa
Region-wise, North America enjoys the leading position in the market. As the climatic conditions are not favorable and the local production does not meet the domestic demand, the region imports large quantities of bananas from South American countries to produce banana powder.
Competitive Landscape:
The market is highly fragmented with the presence of a large number of small and large players who compete in terms of prices and quality. Some of the leading players operating in the market are:
- Chiquita Brands International Sàrl
- Fresh Del Monte Produce Inc.
- Dole plc
- Fyffes plc (Sumitomo Corporation)
- GRUPO JUGAL Inc.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2022 |
| Historical Period | 2017-2022 |
| Forecast Period | 2023-2028 |
| Units | US$ Million, ‘000 Tons |
| Segment Coverage | End Use, Region |
| Region Covered | Asia Pacific, Europe, North America, South America, Middle East and Africa |
| Companies Covered | Chiquita Brands International Sàrl, Fresh Del Monte Produce Inc., Dole plc, Fyffes plc (Sumitomo Corporation) and GRUPO JUGAL Inc. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global banana powder market was valued at US$ 1,147.0 Million in 2022.
We expect the global banana powder market to exhibit a CAGR of 6.9% during 2023-2028.
The expanding food and beverages sector, coupled with the increasing utilization of banana powder in preparing smoothies, pancakes, breads, etc., is currently driving the global banana powder market.
The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of banana powder.
Based on the end use, the global banana powder market can be segmented into food industry, feed industry, and others. Currently, the food industry holds the majority of the total market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, South America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global banana powder market include Chiquita Brands International Sàrl, Fresh Del Monte Produce Inc., Dole plc, Fyffes plc (Sumitomo Corporation), GRUPO JUGAL Inc., etc.
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