The global Banana Powder market is expected to grow at a compound annual growth rate of 7.49% over the forecast period to reach a market size of US$1,508.014 million in 2025 from US$977.681 million in 2019. Banana Powder Market will grow at a significant rate in the coming years. The surge in demand for natural and organic food products and the enhancement of Banana Powder flavors in food products, cosmetics, and personal care is imperative for the Banana Powder market growth. Banana Powder is formed from the banana pulp, then by the mechanical and hydraulic process, it is converted into a paste. Sodium metabisulfite is used for brightening the yellow color of the banana paste. The paste is dried by spray, freeze, or drum drying process and then the powder is produced. Banana is commonly used and is the most consumable fruit worldwide. It has rich sources of potassium, vitamins, carbohydrates, and proteins and is cheaper, which makes for a healthier and more affordable diet. Banana powder is most commonly used in the food and beverage, cosmetics, and animal feed industry. Banana powder has a significant and substantial global share in the food industry. India is the major exporter of bananas worldwide and accounts for the majority of the share in the market. China is also one of the major exporters of bananas worldwide.
Increasing Consumer Preferences
Banana powder has a substantial demand in the market. Banana powder's popularity will continue to soar among consumers because of its rich and healthy properties, also because it is affordable. Consumers are shifting away from processed and refined food products. There has been a substantial increase in the knowledge and awareness of a consumer regarding the harmful artificial preservatives, flavors, and colors. Consumers are diversifying their purchasing options when it comes to food and beverage products. Technology has been playing an imperative role in enhancing awareness and knowledge among consumers. A consumer can now locate the source of the food to ensure the safety of the product. Consumer demands and preferences have been constantly changing with time. There are a lot of people that are suffering from various harmful diseases and are not comfortable with artificial Products. This has led to a surge in the demand for Banana Powder. It has a plethora of properties that are beneficial for human growth. It has a substantial content of carbohydrates and calories. It is also consumed for its anti-oxidant properties, preventing aging effects and dehydration. It also helps in reducing blood fluctuations and is beneficial in the growth of bones. It is widely used in baby foods which helps in the growth of the bones and weight gain in infants. It also helps in preventing and curing dehydration. It is becoming significant in the pharmaceutical industry as it has a substantial number of medical-related properties. It helps in digestion, and prevents, or treats ulcers in the stomach. There is a lot of demand for banana powder in the cosmetics and animal feed industry.
Enhancement in Distribution Channel
Currently, store-based retail businesses have the majority of the share in the global Banana Powder market. Supermarkets and convenience stores are surging the retail growth of Banana Powder-based products. Online retail is also gaining a lot of traction. With a substantial number of users engaged on the internet and with a surge in the demand for smartphones, online retail will generate significant growth in the coming years. Banana powder is easily available in retail stores, therefore offline retail business is expected to hold the majority of the share in the future. There are a significant number of cultivators worldwide that are helping in expanding the retail business of banana powders.
Coronavirus has a significant impact on the global Banana Powder market. With the government worldwide imposing lockdowns to combat the pandemic and with the trade restrictions, the supply chain has been disrupted which will hold the expansion of the market for the next few months. Contingency strategies have been adopted by companies and manufacturers to reduce the impact of the COVID-19 pandemic. But, a pandemic will not have a significant effect as the banana powder is one of the essential products because of its price range. There is a challenge in the processing of banana powder. Sometimes, a substantial number of artificial preservatives are added to brighten the yellow cooler of the powder. It reduces the quality of the product.
The Asia Pacific will register a significant growth
The Asia Pacific holds the majority of the global market share and is followed by North America and Europe. India and China are the major exporters of Banana Powder. India has a significant and substantial share in the Banana Powder market as it is a major producer of bananas, Europe and North America will register significant growth because of the presence of major cosmetics, food and beverage, pharmaceuticals and animal feed companies in Europe. The animal industry will help in surging the revenue because animal feed banana product is cheaper and most countries are dependent on livestock animals products.
There are some of the major players in the Banana Powder industry: DR Food And Banatone Industries, Aarkay Food Products Ltd., National Food ’N’ Spices, Revive International Food Ingredients, Penta Pure Foods, Naturalin Bio-Resources Co., Ltd., Santosh Food Products, Sailor Biotech Private Ltd., Vinayak Ingredients Private Ltd, Taj Agro International. These key players are investing a lot of capital in research and development. Furthermore, major players are focusing on collaborations with the local industry, acquiring small companies to enhance their production capacity, continues to improve their distribution channel through mergers and joint ventures. The banana powder market is a competitive market where the local players have a significant and s substantial share in the market.
|Market size value in 2019||US$977.681 million|
|Market size value in 2025||US$1,508.014 million|
|Growth Rate||CAGR of 7.49% from 2019 to 2025|
|Forecast Unit (Value)||USD Million|
|Segments covered||Nature, Process, Applications, Distribution Channel, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||DR Food And Banatone Industries, Aarkay Food Products Ltd., National Food ’N’ Spices, Revive International Food Ingredients, Penta Pure Foods, Naturalin Bio-Resources Co.,Ltd., Santosh Food Products, Sailor Biotech Private Ltd., Vinayak Ingredients India Private Ltd., Taj Agro International|
|Customization scope||Free report customization with purchase|
DR Food And Banatone Industries
Aarkay Food Products Ltd.
National Food ’N’ Spices
Revive International Food Ingredients
Penta Pure Foods
Naturalin Bio-Resources Co.,Ltd.
Santosh Food Products
Sailor Biotech Private Ltd.
Vinayak Ingredients India Private Ltd.
Taj Agro International
All our studies come with 2 months of analyst support.
We are in compliance with the global privacy laws.