The banana powder market is estimated to grow at a CAGR of 7.92% to reach a market size of US$1,433.126 million in 2024 from US$907.128 million in 2018. Banana powder is a powder made from processed bananas. It helps in preventing dehydration, aging effects and it also cures indigestion and depression. Consumers' inclination towards using natural products to lead a healthy life is one of the key factors behind the growth of the Banana powder market. Banana Powder is also used as an ingredient in Baby foods because it helps in gaining weight. Cosmetics Industry extensively uses Banana powder because it provides relief from itchiness and irritation and due to its moisturizing properties. Banana powder manufacturers are diversifying their product to organically-produces banana powder. Organically produced banana powder is chemical-free nutritious and helps to make better quality food products. Geographically, Asia Pacific region covers a significant market of banana powder. India is one of the largest producers of banana powder.
Investments in research and development activities by food technologists and companies are also boosting the market of banana powder market. Banana powder is a cheaper gluten-free alternative of wheat powder. Banana powder has a shelf life of almost two years if stored in cold storage. Its sales have hiked in the feed industry, for improving the gut health of pets and cattle. With an increasing demand for flavored sauces, dressings, and condiments, and the growing number of fast-food chains, the banana powder market will continue to grow.
The Banana Powder Market – Forecasts from 2019 to 2024 is an exhaustive study that aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by source, process, application, and geography.
The banana powder market on segmented based on source, process, application, and geography. Based on the source, the market has been segmented into organic, and conventional. Based on the process market can be segmented into freeze-dried, spray-dried, sun-dried, drum dried, and others. By application, the market has been classified into food, cosmetics, pharmaceuticals and animal feed.
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa, and the Asia Pacific regions. The report also analyzes 15 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the banana powder market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the Banana powder market.