According to the Market Statsville Group (MSG), the global banana flour market size is expected to grow from USD 801.3 million in 2021 to USD 1,424.3 million by 2030, at a CAGR of 6.6% from 2022 to 2030. Banana flour is a powder from green bananas high in dietary fibers, carbs, cellulose, essential amino acids, hemicellulose, and starch. These are also utilized as gluten-free ingredients in a variety of baked goods. Banana flour has emerged as an alternative to wheat flour. Banana flour is manufactured by grinding dried green bananas, resulting in flour rich in resistant starch.
Consumers' growing desire for increased nutritional value in food and novel tastes, textures, and scents is boosting market sales. Alternative flours are gaining popularity, particularly because they are recognized to substitute for the drawbacks of traditional whole wheat or wheat flour. The increased knowledge of the health benefits of banana flour, which is high in fiber, gluten-free, minerals, and vitamins such as zinc, vitamin E, manganese, magnesium, and potassium, is moving the global banana flour sector ahead. It helps control blood sugar levels while lowering cholesterol, improving heart health, and stimulating neuron and muscle activity.
The COVID-19 pandemic has disrupted food consumption habits, affecting the banana flour business. The growing popularity of gluten-free goods has raised the demand for banana flour. Despite this, supply chain and trade disruptions caused by the illness epidemic have reduced banana flour output. Consumers gradually embrace healthier eating habits, fueling demand for items like banana flour. Furthermore, the epidemic has altered consumer attitudes regarding food consumption, and selecting healthy components has become a key priority. This encourages the flour food business to turn extra stock into goods such as banana flour. Because of their high nutritional content, people are increasingly purchasing these unripe banana flour products.
Banana flours are popular among health-conscious customers because they are high in dietary fibers, potassium, calcium, proteins, amino acids, and carbs. Banana flour is mostly used as a gluten-free component in bread items. Furthermore, because of the COVID-19 outbreak, customers are concentrating on strengthening immunity, which stimulates the expansion of the banana flour industry. Because of its health advantages and low-calorie content, it has become a popular food. The expansion of the banana flour market is boosting its usage in bakery items and other applications, which will drive manufacturers and other major firms to be more inventive.
Consumers are using banana flour as an alternative to wheat flour, which will likely increase the demand for banana flour. Banana flour is used in place of wheat flour to make light and fluffy cookies. The substitute is a fantastic concept since it aids in weight reduction and is an excellent product for diet-concerned individuals who want to be healthy and fit.
The study categorizes the banana flour market based on nature, processing, form, and end-use, at regional and global levels.
Based on the end-use, the banana flour market is divided into the food industry, beverages, retail/household, and others. In 2021, the food industry segment led the banana flour market. Banana flour has a variety of applications in the food sector, including usage as a gluten-free substitute for wheat flour. Banana flour is widely utilized in the bakery sector to produce natural gluten-free and nut-free items for health-conscious customers. Green banana flour is currently utilized to make pasta-based dishes more nutritious and healthier. Bread, being the most widely eaten bakery product worldwide, presents an excellent chance to employ banana flour to strengthen bread and improve its nutritional value. To reap the nutritious advantages of banana flour, just add it to smoothies, yogurt, or other products regularly.
Based on the regions, the global banana flour market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Asia Pacific dominated the market in 2021. Banana cultivation is led by India, China, the Philippines, and Indonesia. Furthermore, Asia Pacific is one of the most populated areas in terms of food and beverage consumption. Bananas have historically been consumed as a fruit throughout the Asia Pacific, but this has changed in the last decade owing to banana flour's rising importance and health advantages. Banana producers in the region are more likely to produce banana goods as bananas become a healthier alternative to processed and raw meals. Gluten sensitivity is also an increasing problem among consumers worldwide, particularly in Asia.
As a result, such market trends are likely to assist Asia-Pacific in dominating the overall market.
The global banana flour market is highly competitive, with key industry players adopting strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most market companies focus on expanding operations across regions, augmenting their capabilities, and building strong partner relations.
Major players in the global banana flour market are:
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