Banana Powder Market By Nature (Organic & Conventional), By Drying Process (Freeze dry, Drum dry, Sundry, & Spray dry), By Applications (Food & beverages, Dietary supplements, Cosmetics, Animal feed, & Others), By Distribution Channel (Offline (Supermarkets/Hypermarkets, Convenience stores, Retail Pharmacies, & Others) & Online platforms), By Geography - Global Opportunity Analysis & Industry Forecast, 2022-2027

Report Code: FBR 62512 Report Format: PDF + Excel

Banana Powder Market Overview

Banana Powder Market size is estimated to reach $1.6 billion by 2027, growing at a CAGR of 3.9% during the forecast period 2022-2027. The banana pulp, which is processed using a colloidal mill is taken into account for making banana powder. There are more than 1000 varieties of bananas across the globe; however, Musa acuminata and Musa balbisiana stand out from the crowd. The inorganic compounds like sodium metabisulfite, commonly used as a preservative, are used to develop the yellow color of the paste obtained through processing. The presence of isoamyl acetate in the banana plant function as a flavoring agent and confer aroma to the powder. Following color enhancement, a drying technique, too often drum drying, is used to convert the paste to powder form. The powder is not deemed a rich protein source but it contains a plethora of carbohydrate and calories. The powder increases cell growth and rehabilitates the areas affected by ulcers; moreover, it is of extreme significance in curing dyspepsia. Bananas are home to resistant starch which might play a noticeable role in the upgrading of insulin sensitivity in patients suffering from diabetes; moreover, their potassium-rich nature endorses heart health and relieve stress. In addition to that, regular intake of banana powder for people suffering from their thin frame could be beneficial. Therefore, proliferating diabetes incidences, swelling cases of stress and anxiety, soaring health awareness among people, refining retail infrastructure following internet penetration, improving per capita incomes in developing countries, and growing use of banana powder in confectioneries and baby food are factors set to drive the growth of the Banana Powder Market for the period 2022-2027.

Report Coverage

The report: “Banana Powder Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Banana Powder Market.

By Nature: Organic and Conventional.
By Drying ProcessFreeze dry, Drum dry, Sundry, and Spray dry.
By Applications: Food and beverages, Dietary supplements, Cosmetics, Animal feed, and Others.
By Distribution Channel: Offline (Supermarkets/Hypermarkets, Convenience stores, Retail Pharmacies, and Others) and Online platforms.
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America) and Rest of World (the Middle East and Africa).

Key Takeaways

  • Geographically, the Asia-Pacific Banana Powder Market accounted for the highest revenue share in 2021. The growth is owing to undisturbed supply because of high banana production in Asian countries, rising disposable incomes of people, colossal population, growth stunting of youth, and bettering retail network.
  • Increasing demand for carbs rich food, escalating popularity of RTD beverages and confectionery items, enlarging quality of life in low-income countries like China, Indonesia, and India, growing internet penetration in impoverished areas, hike in the number of smartphone users, and innovative marketing strategies are said to be preeminent driver driving the growth of Banana Powder Market. A plethora of alternatives, rising cost of living, startling unemployment post-covid-19, and environmental calamities are said to reduce the market growth.
  • Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Banana Powder Market report.
Banana Powder Market Share, By Region (%) in 2021


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Banana Powder Market Segment Analysis-By Nature

The Banana Powder Market based on nature can be further segmented into conventional and natural. The conventional segment held the largest share in 2021. Conventional farming is practiced extensively by farmers of different countries across the world because of several reasons like high fruit yield, swift production, the requirement of lesser funds, high revenue, more reliable option as it is a proven concept, and efficient land use. Since conventional farming is practiced on a wide scale, the product of conventional descent has across-the-board availability. Additionally, the lower price of conventional natured products is a notable trigger that drives consumers toward such products. Furthermore, the natural segment is estimated to be the fastest-growing with a CAGR of 5.4% over the forecast period 2022-2027. The jaw-dropping swell in carbon footprints, growing campaigns like “Save Soil” aimed at revitalizing the organic content of soil by curbing the use of pesticides and fertilizers, and surging health consciousness among consumers across the globe are preeminent factors behind bettering demand for naturally grown food items.

Banana Powder Market Segment Analysis-By Distribution Channel

The Banana Powder Market based on distribution channels can be further segmented into offline and online. The offline segment held the largest share in 2021. The growth is owing to the high inclination of consumers toward offline stores because of their round the corner presence. Conveniences like guarantee, easy return, bulk buying, bargaining, proper quality check, and instantaneous buying are prime and most common answers to questions like “Why majority of sales occur through offline platforms?” According to a report published in 2021, online shopping accounted for only 13 percent of sales in the US; whereas, the rest 90 percent transpired through offline mediums. In addition to that, the growing existence of modern outlets like supermarkets not only in developed countries but in developing countries also is attracting the attention of people because of their discount offers and one-stop solution options. Nevertheless, online is estimated to be the fastest-growing segment with a CAGR of 4.7% over the forecast period 2022-2027. Technological breakthroughs and advancements like high-speed internet, 3D mapping, and payment through mobiles have revolutionized the retail industry and completely altered the buying behaviors of consumers, especially millennials. Moreover, covid restrictions, an astounding swell in smartphone users, and the growing size of tech-friendly populations are other factors propelling the growth.

Banana Powder Market Segment Analysis-By Geography

The Banana Powder Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. Asia-Pacific held the largest share with 41% of the overall market in 2021. The growth in this segment is owing to the factors such as fascinating banana production in Asian countries. With more than 30 million tonnes of annual production (around 26 percent of the total world’s production), India is the leading banana producer in the world. After India, Indonesia and China hold the 2nd and 3rd spots with approximately 18 million tonnes of collective annual production. The high production of the fruit unequivocally supplements the supply chain and drives the market. Nevertheless, Asia-Pacific is expected to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to augmenting usage of bananas in confectionery (Banana burfi, Kele ka halwa, Gulgulas, and many others), horrendous size of the population, surging complication of growth stunting of youths especially in Southeast Asian countries like India, growing purchasing power supplemented by rising economic prosperity, proliferating demand for banana assisted protein powders and dietary supplements.

Banana Powder Market Drivers

Enlarging health complications are anticipated to boost market demand.

Owing to their fiber-rich nature and low GI index bananas are an appropriate choice for diabetic patients because they play a significant role in reducing sugar spikes. Therefore, swelling cases of diabetes are likely to enhance the demand for the banana powder market. According to a report, around 12 percent of adults worldwide are anticipated to develop diabetes by the year 2045. The figure is whirling around 10.5 to 11 percent as of 2022. Moreover, bananas are home to minerals and amino acids like potassium and tryptophan that are vital for the formation of serotonin and melatonin (hormones responsible for feeling good and decent sleep); therefore, bananas are also supportive in pacifying the mind by curing stress. Also, the augmenting complication of nutrient deficiency among youth in developing countries is likely to stimulate market growth.

Bettering retail infrastructure, soaring GDP per capita, and augmenting usage in cosmetics, baby foods, and confectioneries are expected to boost market demand.

Overwhelming penetration of the internet in rural areas has completely revolutionized the retail industry in the last decade. E-commerce platforms are all set to overtake conventional distribution channels of retail. As of 2022, nearly 60 percent of the total world population (more than 4.6 billion people) is vigorously using the internet. The number is projected to reach 7.5 billion by the year 2030. The growth in any market depends upon purchasing power of consumers; whereas, the purchasing power of consumers in a geographical location is directly proportional to economic prosperity. Therefore, the proliferating economic affluence of developing countries is a primary driver driving the aforementioned market. For example, from $5,624 in 2020, South Africa's GDP per capita income reached $6,861 in 2021; nevertheless, the figure is anticipated to reach $7,081 in 2022. Other developing nations like India, China, and Indonesia are too witnessing a slight surge in per capita incomes. Besides, extensive use of bananas in baby formula and various cosmetics products has spiked the pace of growth.

Banana Powder Market Challenges

The presence of several substitutes, environmental calamities, and the rising cost of living across the globe are the factors anticipated to hamper the market growth.

In March 2022, India witnessed 17 months' highest CPI inflation rate of 6.95 percent. The extensive surge in prices is putting extra pressure on consumers’ pockets. In addition to that, overwhelming inflation fueled by the Russia-Ukraine war has soared the cost of living across Europe. According to the Statistical Office of the European Union, in march 2022, annual inflation rates in the euro area soared to 7.4 percent from 5.9 percent in February. In addition to that, the availability of a plethora of alternatives that can easily substitute bananas, the changed duration of seasons, loss of agricultural land because of soil erosion, deforestation, and vanishing organic content are some crucial factors posing severe challenges to the growth of banana powder market.

Banana Powder Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the aforementioned Market. Banana Powder market top 10 companies include-

  • NuNaturals Inc
  • Aarkay Food Products Ltd.
  • Mevive International
  • Naturalin Bio-Resources Co Ltd.
  • Banatone Food Industries Kochuveli
  • Royal Nut Company
  • Saipro Biotech Pvt Ltd.
  • Taj Agro International
  • Varmora Food Pvt Ltd.
  • National Food ‘n’ Spices

Recent Developments/Product Launches:

  • On January 5, 2022, The Federation of Indian Export Organization (FEO) announce teaming up with other authorities like the Agricultural and Processed Food Products Export Development Authority (APEDA) and Directorate General of Foreign Trade in order to revolutionize overseas exports of Poovan variety of banana through an infusion of high-tech in cultivation processes.
  • On October 30, 2021, Tamil Nadu, India-based ICAR-NRCB (National Research Institute for Banana) transferred banana powder making technology with Tiruchi, TN-based confectionery “Cake Bee.” The technology makes use of low-cost foam mat drying to fabricate powder from the green banana pulp. This move is anticipated to help cake Bee to further expand its banana-based products in other parts of the state.
  • On February 16, 2021, Del Monte International (a subsidiary of Florida, United States-based distributor of fresh-cut fruit “Fresh Del Monte Produce Inc”) publicized that company has successfully partnered with Brisbane, Australia-based Queensland University of Technology. The partnership aimed at bringing unprecedented ways of growing ailment-resistant bananas to life.
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1. Banana Powder Market Overview
    1.1 Definitions and Scope
2. Banana Powder Market - Executive Summary
3. Banana Powder Market– Market Landscape
    3.1 Company Benchmarking- Key Companies
    3.2 Key Company Financial Analysis
    3.3 Market Share Analysis
    3.4 Patent Analysis-Global
    3.5 Pricing Analysis (Comparison of General Price Offerings in the Market)
4. Banana Powder Market– Startup Company Scenario (Premium)
    4.1 Investment
    4.2 Revenue
    4.3 Venture Capital and Funding Scenario
5. Banana Powder Market– Industry Market Entry Scenario Premium (Premium)
    5.1 Regulatory Scenario
    5.2 New Business and Ease of Doing business index-Global
    5.3 Case Studies of Successful Ventures
6. Banana Powder Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Banana Powder Market– By Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle Analysis
8. Banana Powder Market - By Nature (Market Size –$Million/$Billion) 
    8.1 Organic
    8.2 Conventional
9. Banana Powder Market - By Drying Process (Market Size –$Million/$Billion) 
    9.1 Freeze dry
    9.2 Drum dry
    9.3 Sundry
    9.4 Spray dry
10. Banana Powder Market – By Applications (Market Size –$Million/$Billion) 
    10.1 Food and beverages
    10.2 Dietary supplements
    10.3 Cosmetics
    10.4 Animal feed
    10.5 Others
11. Banana Powder Market - By Distribution Channel (Market Size –$Million/$Billion) 
    11.1 Offline (Supermarkets/Hypermarkets, Convenience stores, Retail Pharmacies, and Others)
    11.2 Online platforms
12. Banana Powder Market- By Geography (Market Size -$Million/Billion)
    12.1 North America
        12.1.1 U.S
        12.1.2 Canada
        12.1.3 Mexico 
    12.2 Europe
        12.2.1 Germany
        12.2.2 France
        12.2.3 UK
        12.2.4 Italy
        12.2.5 Spain
        12.2.6 Russia
        12.2.7 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 South Korea
        12.3.4 India
        12.3.5 Australia & New Zealand
        12.3.6 Rest of Asia-Pacific 
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Chile
        12.4.4 Colombia
        12.4.5 Rest of South America
    12.5 Rest of World
        12.5.1 Middle East
        12.5.2 Africa
13. Banana Powder Market- Market Entropy
    13.1 New product launches
    13.2 M&A's, collaborations, JVs and partnerships
14. Banana Powder Market– Industry Competition Landscape (Premium)
    14.1 Market Share Analysis
        14.1.1 Global Market Share – Key Companies
        14.1.2 Market Share by Region – Key Companies
        14.1.3 Market Share by Countries – Key Companies
    14.2 Competition Matrix
    14.3 Best Practices for Companies
15. Banana Powder Market– Key Company List by Country Premium (Premium)
16. Banana Powder Market- Company Analysis
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10
"*Financials would be provided on a best-efforts basis for private companies*"

LIST OF TABLES

1.Global BANANA POWDER MARKET BY DISTRIBUTION CHANNEL Market 2019-2024 ($M)
1.1 ONLINE RETAIL Market 2019-2024 ($M) - Global Industry Research
1.2 DEPARTMENTAL STORES Market 2019-2024 ($M) - Global Industry Research
1.3 SUPERMARKETS/HYPERMARKETS Market 2019-2024 ($M) - Global Industry Research
1.4 CONVENIENCE STORES Market 2019-2024 ($M) - Global Industry Research
2.Global BANANA POWDER MARKET BY DISTRIBUTION CHANNEL Market 2019-2024 (Volume/Units)
2.1 ONLINE RETAIL Market 2019-2024 (Volume/Units) - Global Industry Research
2.2 DEPARTMENTAL STORES Market 2019-2024 (Volume/Units) - Global Industry Research
2.3 SUPERMARKETS/HYPERMARKETS Market 2019-2024 (Volume/Units) - Global Industry Research
2.4 CONVENIENCE STORES Market 2019-2024 (Volume/Units) - Global Industry Research
3.North America BANANA POWDER MARKET BY DISTRIBUTION CHANNEL Market 2019-2024 ($M)
3.1 ONLINE RETAIL Market 2019-2024 ($M) - Regional Industry Research
3.2 DEPARTMENTAL STORES Market 2019-2024 ($M) - Regional Industry Research
3.3 SUPERMARKETS/HYPERMARKETS Market 2019-2024 ($M) - Regional Industry Research
3.4 CONVENIENCE STORES Market 2019-2024 ($M) - Regional Industry Research
4.South America BANANA POWDER MARKET BY DISTRIBUTION CHANNEL Market 2019-2024 ($M)
4.1 ONLINE RETAIL Market 2019-2024 ($M) - Regional Industry Research
4.2 DEPARTMENTAL STORES Market 2019-2024 ($M) - Regional Industry Research
4.3 SUPERMARKETS/HYPERMARKETS Market 2019-2024 ($M) - Regional Industry Research
4.4 CONVENIENCE STORES Market 2019-2024 ($M) - Regional Industry Research
5.Europe BANANA POWDER MARKET BY DISTRIBUTION CHANNEL Market 2019-2024 ($M)
5.1 ONLINE RETAIL Market 2019-2024 ($M) - Regional Industry Research
5.2 DEPARTMENTAL STORES Market 2019-2024 ($M) - Regional Industry Research
5.3 SUPERMARKETS/HYPERMARKETS Market 2019-2024 ($M) - Regional Industry Research
5.4 CONVENIENCE STORES Market 2019-2024 ($M) - Regional Industry Research
6.APAC BANANA POWDER MARKET BY DISTRIBUTION CHANNEL Market 2019-2024 ($M)
6.1 ONLINE RETAIL Market 2019-2024 ($M) - Regional Industry Research
6.2 DEPARTMENTAL STORES Market 2019-2024 ($M) - Regional Industry Research
6.3 SUPERMARKETS/HYPERMARKETS Market 2019-2024 ($M) - Regional Industry Research
6.4 CONVENIENCE STORES Market 2019-2024 ($M) - Regional Industry Research
7.MENA BANANA POWDER MARKET BY DISTRIBUTION CHANNEL Market 2019-2024 ($M)
7.1 ONLINE RETAIL Market 2019-2024 ($M) - Regional Industry Research
7.2 DEPARTMENTAL STORES Market 2019-2024 ($M) - Regional Industry Research
7.3 SUPERMARKETS/HYPERMARKETS Market 2019-2024 ($M) - Regional Industry Research
7.4 CONVENIENCE STORES Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Banana Powder Market Revenue, 2019-2024 ($M)
2.Canada Banana Powder Market Revenue, 2019-2024 ($M)
3.Mexico Banana Powder Market Revenue, 2019-2024 ($M)
4.Brazil Banana Powder Market Revenue, 2019-2024 ($M)
5.Argentina Banana Powder Market Revenue, 2019-2024 ($M)
6.Peru Banana Powder Market Revenue, 2019-2024 ($M)
7.Colombia Banana Powder Market Revenue, 2019-2024 ($M)
8.Chile Banana Powder Market Revenue, 2019-2024 ($M)
9.Rest of South America Banana Powder Market Revenue, 2019-2024 ($M)
10.UK Banana Powder Market Revenue, 2019-2024 ($M)
11.Germany Banana Powder Market Revenue, 2019-2024 ($M)
12.France Banana Powder Market Revenue, 2019-2024 ($M)
13.Italy Banana Powder Market Revenue, 2019-2024 ($M)
14.Spain Banana Powder Market Revenue, 2019-2024 ($M)
15.Rest of Europe Banana Powder Market Revenue, 2019-2024 ($M)
16.China Banana Powder Market Revenue, 2019-2024 ($M)
17.India Banana Powder Market Revenue, 2019-2024 ($M)
18.Japan Banana Powder Market Revenue, 2019-2024 ($M)
19.South Korea Banana Powder Market Revenue, 2019-2024 ($M)
20.South Africa Banana Powder Market Revenue, 2019-2024 ($M)
21.North America Banana Powder By Application
22.South America Banana Powder By Application
23.Europe Banana Powder By Application
24.APAC Banana Powder By Application
25.MENA Banana Powder By Application
26.AARKAY FOOD PRODUCTS LIMITED, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.NUTRYTTIVA, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.SAIPRO BIOTECH PRIVATE LIMITED, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.URBAN PLATTER, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.BANATONE FOOD INDUSTRIES KOCHUVELI, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.BABYVITA INDIA FOOD PRODUCTS, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.NATURAL EVOLUTION LTD, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.NUNATURALS INC, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.ROYAL NUT COMPANY, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.MANNA FOODS, Sales /Revenue, 2015-2018 ($Mn/$Bn)