Banana is one of the majorly consumed and used fruit in the tropical and sub-tropical regions. The banana flour is made from the green bananas. It provides various benefits and features such as rich in dietary fibers, carbohydrates, protein essential amino acids, cellulose, starch, resistance starch, and potassium. It is used as gluten-free product and has low calories. Therefore, is surge in the demand for banana flour has been witnessed. However, unstable economic conditions, lower prices, and less R&D in the banana flour market are expected to restrain the banana flour market growth.
COVID-19 Impact Analysis
COVID-19 has impacted every sector; however, the food industry is the majorly impacted one. The pandemic has disturbed the food industry including banana flour market.
Although there has been rise in the demand for gluten-free products such as banana flour but supply chain and production blockages and closures have reduced the level of production of the banana flour in the market.
Moreover, increase in awareness among the consumers regarding health and better immune system provides lucrative opportunity to the market. The health and healthy food such as banana flour has become a priority for the consumers. Thus, the impact of COVID-19 on banana flour market is from low to moderate.
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Top Impacting Factors
The major factor contributing to the growth of the banana flour market includes rise in the production of green bananas.
Rise in demand for gluten-free product also fuels the growth of the banana flour market.
However, instability in the economic conditions of the countries, low prices of the products, and lower developments and innovations are expected to restrain the market growth.
Market
Increase in health-conscious consumers
The health-conscious consumers are massively adopting healthier snacks with banana flours as banana flour is rich in dietary fibers, potassium, calcium, proteins, amino acids, and carbohydrates. The banana flour is majorly used in the bakery products as a gluten-free product. Furthermore, consumers focusing toward increasing immunity these days due to the COVID-19 outbreak, which further drives the growth of the banana flour market.
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It had become a major product for consumption because of its health benefits and low calories. The betterment in the banana flour market is increasing its adoption in bakery products and other end uses, which will encourage the manufacturers and the other key businesses to be more innovative.
Rise in use of gluten-free products and an alternate to wheat flour
The banana flour is being used by the consumers as an alternate to the wheat flour, which is expected to flourish the demand for banana flour. Banana flour is being used instead of wheat flour in making cookies, which provide lightness of cookies. The substitution is a great idea as it helps in weight loss and great product for people who are diet conscious and focus on being healthy and fit.
Key Segments Covered
Process Type
Freeze Dried
Spray Type
Application
Households
Pet and Food Industry
Beverages
Source
Organic
Conventional
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Companies covered: ZUvii, NuNAtural inc., Diana Foods, Paradisefrucht GmbH, Now Health Group inc., Kanegade Ltd. ADM Wild Europe Gmbh&co. KG, Stawi Foods, Fruits Limited, and International Agriculture Group.
Key Benefits of the Report
This study presents the analytical depiction of the banana flour industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the banana flour market share.
The current market is quantitatively analyzed from 2020 to 2028 to highlight the banana flour market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed banana flour market analysis based on competitive intensity and how the competition will take shape in coming years
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