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The global banana powder market reached a value of US$ 990.6 Million in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 7.6% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
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.
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.
IMARC Group provides an analysis of the key trends in each sub-segment of the global banana powder market report, along with forecasts for growth at the global and regional level from 2021-2026. Our report has categorized the market based on end use.
Breakup by End Use:
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.
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.
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:
|Base Year of the Analysis||2020|
|Units||US$ Million, ‘000 Tons|
|Segment Coverage||End Use, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Companies Covered||Chiquita Brands International Sàrl, Fresh Del Monte Produce Inc., Dole Food Company, Inc., Fyffes plc and Grupo Noboa S.A.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2299
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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)|
Key Questions Answered in This Report:
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