Banana Flour Market Expected To Exhibit Growth (CAGR) of 6.8% from 2021 to 2028 — Zion Market Research
As per the researchers at Zion Market Research, The global banana flour market size was estimated at USD 751.7 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.8% from 2021 to 2028.
Incessant Product Development Expected To Drive The Growth Of Global Market
The growth of the global banana flour market is expected to be primarily driven by factors such as the incessant new product development and the enhanced distribution channel that backs the extensive obtainability of banana flour within the global market. The banana flour made utilizing fruits at diverse ripening phases has been demonstrated to act in a different ways during production of food products like cakes, bread, pancakes, pastries, pasta, and so on. The banana flour made at diverse phases of ripeness can assist the food producers to manage the food quality integrated with banana flour. In addition, it strengthens the immune system as well as intensifies other advantages as it functions as a probiotics transporter to the large intestine, thus further boosting the expansion of the global banana flour market. Moreover, banana flour also entails the high amount of reducing sugars, potassium, calcium, and others that help in cutting the craving for caffeine & nicotine and also improves blood circulation.
Asia Pacific And North America Anticipated To Witness Substantial Growth During The Forecast Period
The global banana flour market can be bifurcated based on characteristics, end-use, distribution channel, application, and region. The global banana flour market, based on end-use, is divided into residential use and commercial use. The market, based on characteristics, is classified into low acidity, highly nutritious, resistant starch, rich in dietary fiber, and others. The banana flour market, based on application, is categorized into food products such as pastries, cakes, pancakes, pasta, and others. The market, based on distribution channel, is divided into indirect sales and direct sales. Further, the indirect sales segment is sub-categorized into supermarket, hypermarket, online retailers, convenience stores, and others. Regionally, Asia Pacific and North America are projected to witness substantial rate of growth during the forecast period as they are the biggest manufacturers of banana flour globally. In Europe, though the production of banana flour is extremely small but has the highest consumption of several banana flour products. In addition the Middle East & Africa and Latin America are also anticipated to exhibit significant expansion in the near future.
Few of the prominent players active in the global banana flour market consist of -
- Pereg Gourmet Spices
- Zuvii
- Stawi Foods & Fruits Limited
- Nutritive
- M-Pak
- Natural Evolution
- Now Foods
- International Agriculture Group
- Ceres organics
The global banana flour market is segmented as follows:
By End Use
- Commercial use
- Residential use
By Characteristics
- Highly nutritious
- Low acidity
- Rich in dietary fiber
- Resistant starch
- Others
By Application
- Beverages
- Pet Food & Feed Industry
- Household
- Food Industry
By Distribution Channel
- Direct sales
- Indirect salesHypermarketSupermarketConvenience storesOnline retailersOthers
By Region
- North AmericaThe U.S.Canada
- EuropeFranceThe UKSpainGermanyItalyRest of Europe
- Asia PacificChinaJapanIndiaSouth KoreaSoutheast AsiaRest of Asia Pacific
- Latin AmericaBrazilMexicoRest of Latin America
- Middle East & AfricaGCCSouth AfricaRest of Middle East & Africa
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