Banana Powder Market – Global Industry Analysis and Forecast (2024-2030)

Banana Powder Market was valued at USD 1.35 Billion in 2023 and is expected to reach USD 2.24 Billion by 2030, at a CAGR of 7.5 % during the forecast period.
Banana Powder Market Banana Powder Market Overview:
Bananas is one of the most widely consumed fruits and is grown across various countries. The majority of the bananas produced worldwide are consumed directly, while a small part is processed into banana powder, which helps in expanding its shelf-life. Banana powder is mainly used for producing milkshakes, protein powder, baby food, etc. Further, it finds applications in various food products such as cakes, instant foods, beverages, seasonings, etc. The Banana is a consumed fruit and is grown across numerous countries. The mainstream banana is consumed directly, and a small part is processed into banana powder, which helps increase its shelf-life. Banana powder is used for manufacturing milkshakes, protein powder, baby food, etc. Further, it discovers applications in various food products such as cakes, instant foods, beverages, seasonings, etc.
Banana Powder Market Dynamics:
The global banana powder market is witnessing significant growth, fueled by its increasing demand across various sectors such as food & beverages, cosmetics, and pharmaceuticals. Banana powder, produced from dehydrated ripe bananas, offers numerous benefits, including high nutritional content, longer shelf life, and diverse applications. These attributes have made it a sought-after product in multiple industries, driving the market's expansion.

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The rising health and nutrition awareness among consumers. People are increasingly opting for natural, nutrient-dense food products, and banana powder fits this trend well. It is rich in essential vitamins, such as B6 and C, along with fiber and minerals, making it a preferred ingredient in functional foods, dietary supplements, and infant nutrition. Additionally, the food and beverage industry is experiencing a shift toward clean-label products, pushing demand for natural ingredients like banana powder. Its use as a natural sweetener, flavoring agent, and thickening agent in snacks, bakery products, and beverages is further accelerating its adoption.

In the flavouring cosmetics sector, the use of banana powder is growing due to its natural appeal and beneficial properties. Known for its hydrating and anti-aging effects, banana powder is increasingly incorporated into skincare and haircare formulations. As consumers demand more chemical-free and natural cosmetic products, banana powder is becoming a favored ingredient for eco-conscious brands, enhancing its market presence.

Moreover, sustainability and waste reduction initiatives are supporting the banana powder market. By using overripe bananas that might otherwise be discarded, manufacturers are contributing to the reduction of agricultural waste, aligning with global efforts toward sustainability. This waste reduction strategy not only provides an environmental advantage but also offers cost-effectiveness for producers, further promoting market growth.

However, certain restraints hinder the market's potential. Supply chain challenges, such as fluctuations in banana production due to weather conditions or agricultural diseases, can affect the availability and pricing of raw materials. Additionally, the high cost of processing and dehydration technology can be a barrier for small-scale manufacturers. Despite these challenges, the market holds significant opportunities. The growing consumer preference for organic and natural products, coupled with the expansion of e-commerce, is likely to offer new avenues for growth, particularly in emerging markets. As health trends and sustainability initiatives continue to evolve, the banana powder market is well-positioned for future expansion across industries.
Banana Powder Market Segment Analysis:
On the basis of service type, the growing demand for organic products from the food and retail industries, the volume share for organic banana flour is being projected to higher than the conventional segment. Since more than half of the manufacturers accept the procedure of spray-dried in the production of banana flour owing to the less cost production.

Banana Flour has its main distribution, the flow coming from modern trade and convenience store, which is simply available for targeted customers. Owing to increasing internet dispersion in past, distribution through E- Retailers is following the market.
Regional Analysis:
In the geographical area, Asia Pacific witnessed the highest market share in 2023 attributed to, the flourishing food and beverage industry has inspired the demand for banana powder in the developed region. The objective of the report is to present comprehensive assessment projections with a suitable set of assumptions and methodology. The report helps in understanding Global Banana Powder market dynamics, structure by identifying and analyzing the market segments and projecting the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, growth strategies, and regional presence.
Banana Powder Market Key Highlights:
Global Banana Powder Market analysis and forecast, in terms of value.

Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global  Market

Global Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.

The Global Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.

Global Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.

Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.

Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Market are also profiled.
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Global Banana Powder Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
USD 1.35 Bn.


Forecast Period 2024 to 2030 CAGR:
7.5%
Market Size in 2030:
USD 2.24 Bn.


 Segments Covered:
by Source
Organic
Conventional


by Application
Food & Beverage Industry
Cosmetics
Pharmaceuticals
Animal Feed


by Distribution Channel
Online
Offline



Banana Powder Market, by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Banana Powder Market, Key Players
1. Natural Evolution Limited
2. International Agriculture Group
3. Zuvii
4. ADM Wild Europe Gmbh& Co
5. KG
6. Nutryttiva
7. NuNaturals, Inc.
8. Stawi Foods and Fruits Limited
9. Slingan Pty Ltd
10. Royal Nut Company
11. NOW Health Group, Inc.
12. Mevive International
13. Safety Foods Pvt Ltd
14. Taj Agro International
15. Vinayak Ingredients
16. Shree Biotech
17. Santosh Food Products
18. Guangxi ENDU High-Tech
19. Qingdao Xinmeixiang Foods
20. Yunnan LincangKaixiong Banana Co., Ltd.
21. Shaanxi Jintai Biological Engineering
22. Shine-Ball

Frequently Asked Questions:

1. Which region has the largest share in Global Banana Powder Market?
Ans: North America region held the highest share in 2023.

2. What is the growth rate of Global Banana Powder Market?
Ans: The Global Banana Powder Market is expected to grow at a CAGR of 7.50% during forecast period 2024-2030.

3. What is scope of the Global Banana Powder market report?
Ans: Global Banana Powder Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. What is the study period of this market?
Ans: The Global Banana Powder Market is studied from 2023 to 2030.

5. Who are the key players in Global Banana Powder market?
Ans: The important key players in the Global Banana Powder Market are – , Natural Evolution Limited, International Agriculture Group, Zuvii, ADM Wild Europe Gmbh& Co, KG, Nutryttiva, NuNaturals, Inc., Stawi Foods and Fruits Limited, Slingan Pty Ltd, Royal Nut Company, NOW Health Group, Inc., Mevive International, Safety Foods Pvt Ltd, Taj Agro International, Vinayak Ingredients, Shree Biotech, Santosh Food Products, Guangxi ENDU High-Tech, Qingdao Xinmeixiang Foods, Yunnan LincangKaixiong Banana Co., Ltd., Shaanxi Jintai Biological Engineering, and Shine-Ball.