Banana Flour Market to Grow by USD 65.2 Million from 2024-2028, Driven by Rising Unripe Banana Production; Market Evolution Powered by AI - Technavio

NEW YORK, Oct. 9, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The Global Banana Flour Market  size is estimated to grow by USD 65.2 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  3.27%  during the forecast period. Increase in production of unripe bananas is driving market growth, with a trend towards rising adoption of clean labeling. However, high cost associated in producing banana flour  poses a challenge - Key market players include APKA Industries, Ceres Organics Pvt. Ltd, Dr FOOD NUTRI INDUSTRIES, Hearthy Foods, International Agriculture Group, Jiwa, Kadac Pty Ltd., Kanegrade Ltd., KOKOS Natural, LiveKuna, Miski Organic Superfoods Inc, Natural Evolution Pty Ltd., Pereg Gourmet Spices, Phalada Pure and Sure, Saipro Biotech Pvt. Ltd., Seawind International, Symrise AG, Synergy Food Industries, Urban Platter, and Woodland Foods Ltd..

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Key Market Trends Fueling Growth

The banana flour market is witnessing growth due to the increasing consumer preference for clean-labeled products. The country of origin significantly influences consumer purchase decisions, with those from the US and Canada perceived as safer and of better quality. This trend is driving the use of country-of-origin labeling (COOL) to help consumers make informed choices. However, COOL implementation adds costs for producers. Clean labeling, which aims to reduce unhealthy additives, is expected to increase the demand for banana flour in the global market. Banana flour, a clean label alternative to traditional wheat flour, is a healthier option that aligns with consumer trends. 

Banana flour is gaining popularity in various industries due to its nutrient-rich composition and versatility. The beverage segment is seeing a trend with banana flour being used in unique blends for smoothies. The bakery industry and confectionery products are also adopting banana flour for its health benefits and unique taste. Health-conscious consumers prefer banana flour for its high dietary fibers, potassium, calcium, proteins, and amino acids. Sourcing practices are focusing on organic farming and natural cultivation methods to cater to health-focused diets. Brands are promoting banana flour through effective communication strategies, highlighting its role in culinary creations like baking, filling and dressing, and even in infant food. Conventional banana flour comes in pouches, while organic banana flour is produced using natural sun-drying processes. Banana flour is a great alternative to wheat flour for those following dietary restrictions or clean eating habits. It also offers health benefits like disease prevention, improved digestion, and a lower glycaemic index due to its resistant starch. Banana flour is not just for adults but also for babies, with infant food products incorporating it into their formulations. It's a natural evolution for the food industry, offering a nutritious and tasty alternative to traditional ingredients. Milk and probiotics are also being explored for their potential synergy with banana flour. The future looks bright for this versatile and nutritious ingredient. 

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Market Challenges

• Banana flour, derived from green bananas, is an expensive alternative to common grain-based flours such as wheat and corn. The production process is costly due to the underutilized peel of the banana, which accounts for 40% of its weight. Despite its nutritional benefits, banana flour is priced higher than other gluten-free flours in the market. As a result, wheat and corn flour remain popular choices for consumers due to their affordability and widespread availability. For large-scale production in restaurants and food chains, inexpensive grain-based flours are preferred. These factors present significant challenges to the growth of the global banana flour market.
  
  
• The Banana Flour market faces several challenges in various segments. In the Beverage segment, competition from other functional flours is high. In the Bakery industry and Confectionery products, Banana Flour competes with Wheat Flour. Health-conscious consumers prefer Banana Flour due to its nutrient-rich composition, including dietary fibers, potassium, calcium, proteins, and amino acids. Sourcing practices are crucial, with a growing demand for Organic Banana Flour from Organic farming practices and natural cultivation methods. Brands must effectively communicate the health benefits through branding, promotions, and communication strategies. Unique blends and formulations in Culinary creations, Smoothies, and Filling and dressing for Bakery and snacks, and Infant food are key areas for innovation. Conventional Banana Flour in Pouches faces competition from other conventional flours. Disease prevention through Banana Flour's resistant starch and low glycaemic index is a significant selling point. Clean eating habits and health-focused diets are driving demand, with potential applications in Milk, Probiotics, and Colorectal cancer and Intestinal inflation prevention.

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Segment Overview 

This banana flour market report extensively covers market segmentation by

1. Application 
• 1.1 Food
• 1.2 Beverages
• 1.3 Others
2. Geography 
• 2.1 North America
• 2.2 Europe
• 2.3 APAC
• 2.4 South America
• 2.5 Middle East and Africa

1.1 Food-  Banana flour is making strides in the food industry, primarily serving the bakery and snacks, infant foods, soups and sauces, and other segments. The demand for banana flour is projected to grow steadily in the food industry due to rising consumer awareness of its health advantages. Banana flour is utilized in the production of items such as cookies, bread, scones, and edible films. Its low moisture content is a desirable trait for ingredients in baked goods. Additionally, banana flour is a rich source of resistant starch and boasts a lower glycemic index, making it an attractive option for those seeking low-calorie food products. In the realm of infant food, banana flour is a common ingredient, often mixed with warm water or milk for feeding. Its usage as a thickener is also on the rise, as banana flour is a healthier alternative to grain-based flour. The increasing popularity of banana flour is reflected in the launch of new products containing it as an ingredient, such as Seawind Foods' banana flour for use in cakes and pastries. The expanding production, export, and import of banana flour are expected to fuel the growth of the food segment in the global banana flour market throughout the forecast period.

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Banana flour, derived from green and overripe bananas, is a nutritious and versatile alternative to wheat flour. It's rich in resistant starch, which aids in disease prevention and supports a healthy digestive system. With a lower glycaemic index than wheat flour, it's an excellent choice for those following health-focused diets. Banana flour is also a natural source of essential nutrients like dietary fibers, potassium, calcium, proteins, amino acids, and carbohydrates. This flour is perfect for various culinary creations, including baking, smoothies, unique blends, and formulations. It's also an excellent addition to filling and dressing recipes, bakery and snacks, and even infant food. Banana flour's clean eating habits and sourcing practices make it a popular choice for those seeking natural and sustainable ingredients.

Banana flour, derived from sun-dried and ground bananas, is gaining popularity in various industries for its unique nutritional properties. This gluten-free alternative to wheat flour is rich in dietary fiber, resistant starch, and essential minerals like potassium, calcium, proteins, and amino acids. Babies benefit from banana flour in infant food products due to its disease prevention properties against intestinal inflammation and colorectal cancer. Health-conscious consumers are embracing banana flour for its low glycaemic index, making it an ideal ingredient for clean eating habits. The beverage segment and bakery industry are leveraging banana flour in unique blends and formulations for confectionery products, beverages, and bakery and snacks. The sun-dried process ensures a natural evolution of the banana's nutrient-rich composition. Branding, promotions, and communication strategies are essential for banana flour's market growth. Organic farming practices and natural cultivation methods are increasingly important for consumers seeking high-quality, sustainable ingredients. The market includes both organic and conventional banana flour, available in pouches for easy use in culinary creations, baking, and smoothies. Banana flour's versatility and health benefits make it a valuable addition to health-focused diets, including those that incorporate probiotics, milk, and other nutritious ingredients.

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Food
• Beverages
• Others
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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SOURCE Technavio