Banana Flour Market Insights Forecasts to 2032

• The Banana Flour Market Size was valued at USD 789.19 Million in 2022.
• The Market is Growing at a CAGR of 7.04% from 2022 to 2032
• The Worldwide Banana Flour Market is expected to reach USD 1558.94 Million by 2032
• Middle East & Africa is expected to grow the fastest during the forecast period

The Banana Flour Market Size is expected to reach USD 1558.94 Million by 2032, at a CAGR of 7.04% during the Forecast period 2022 to 2032.

Banana flour is traditionally a powder made from green bananas. It is traditionally been used as a cheaper alternative to wheat flour in Africa and Jamaica. Banana is a popular and widely consumed fruit in tropical and subtropical regions. It is high in dietary fibres, carbohydrates, protein essential amino acids, cellulose, starch, resistance starch, and potassium, among other things. It is a gluten-free product with few calories. As a result, banana flour is in high demand throughout the world. Banana flour made from unpeeled bananas has a higher nutritional value since it has a higher mineral and dietary fibre content, as well as its total phenolic content and antioxidant activity. Banana flour is recognized as a useful ingredient due to its nutritional profile. Bananas contain prebiotic fibre, which is beneficial to intestinal health and the loss of abdominal fat. Prebiotic fibre provides digestive benefits as well. Banana flour may aid in weight loss, blood sugar regulation, the improvement of metabolic syndrome symptoms, colon health promotion, blood pressure reduction, and cholesterol reduction. Food manufacturers are responding to customer demand for healthy, natural meals free of additives. Food producers are responding to consumer demand for healthy, natural meals free of additives.

Driving Factors

one of the major factors that drive market growth is the increasing demand worldwide for organic and gluten-free food products. Furthermore, the increasing incidence of celiac disease has increased the popularity of banana flour. Rising awareness about the significant health benefits of bananas, as well as increased processing of bananas in developed economies such as the United States, the United Kingdom, and Germany, are all factors contributing to the market's growth. Furthermore, banana flour is versatile and can be used in a variety of food and beverage applications, including bakery, confectionery, infant food, dietary supplements, and others. It is a popular choice in the food and beverage sector because it can be used as a functional ingredient, providing properties such as thickness, flavour, and taste enhancement. The growing use of banana flour in a variety of food applications is driving up demand for banana flour.

Restraining Factors

In comparison to other types of flour, banana flour production is limited because it requires particular types of green bananas that are not appropriate for fresh consumption. Various factors such as weather, disease outbreaks, and market demand may limit the availability of these bananas. Banana flour's limited production and supply may result in higher prices, which may limit its adoption in some markets.

Market Segmentation

By Source Insights

The organic segment dominates the market with the largest revenue share over the forecast period.

On the basis of source, the banana flour market is segmented into organic, and conventional. Among these, the organic segment is dominating the market with the largest revenue share over the forecast period. Organic products have seen a significant increase in demand as consumers' preference for clean eating has grown. Organic banana flour is becoming increasingly popular among consumers seeking chemical- and pesticide-free products. Manufacturers of banana flour work closely with suppliers or farmers to understand the quality of the bananas used to make the flour. The market demand for natural banana flour is expected to influence market demand.

By Process Insights

The spray-dried segment is witnessing significant CAGR growth over the forecast period.

Based on the process, the banana flour market is segmented into freeze-dried dried and spray-dried. Among these, the spray-dried segment is witnessing significant growth over the forecast period. The spray drying process is widely used in the production of banana flour. The feeding flow of the particulate fluids is sprayed into hot air during spray drying to produce dried particles. This method has the fastest drying time. The spray drying process has been adopted as a method of producing powders because of its ability to produce a dependable, consistent product with precise quality specifications. It provides both shelf stability and ease of use in products such as ready-to-drink beverages or can be utilized in any product requiring fruit solids, such as desserts, yogurts, infant formulations, pharmaceuticals, and so on. Over the forecast period, all of these factors are expected to drive the sun-dried banana flour products.

By Distribution Channel Insights

The direct sales segment is witnessing significant CAGR growth over the forecast period.

Based on the distribution channel, the banana flour market is segmented into direct sales, and indirect sales. Among these, the direct sales segment is witnessing significant growth over the forecast period. Because more individuals are using banana flour in their cooking and baking, the direct sales category is expected to grow significantly over the forecast period. Direct sales of banana flour include sales through supermarkets, hypermarkets, and other retail channels such as multi-level marketing (MLM), convenience stores, and pharmacies.

By Application Insights

The food segment dominates the market with the largest revenue share over the forecast period.

Based on application, the banana flour market is segmented into beverages, food, and animal feed. Among these, the food segment is dominating the market with the largest revenue share over the forecast period. Banana flour has a variety of applications in the food industry, including its use as a gluten-free substitute for wheat flour. Banana flour is widely used in the bakery industry to produce gluten-free and nut-free products for health-conscious consumers. Green banana flour is now used to make pasta-based meals more nutritious and healthier. Bread, as the most widely consumed bakery product worldwide, provides an excellent opportunity to use banana flour to strengthen bread and improve its nutritional value. To reap the nutritional benefits of banana flour, simply add it to smoothies, yogurt, or other products daily.

Regional Insights

Asia Pacific dominates the market with the largest market share over the forecast period.

Asia Pacific segment accounted for the largest market share over the forecast period. Banana production is led by countries such as India, China, the Philippines, and Indonesia. Furthermore, Asia Pacific is one of the most populous regions in terms of food and beverage consumption. Bananas have traditionally been consumed as a fruit in Asia Pacific, but this has been changing over the last decade due to the growing importance and health benefits of banana flour. Banana manufacturers in the region are more likely to produce banana products as bananas become a healthier alternative to processed and raw foods. Gluten intolerance is also a growing concern among consumers worldwide, particularly in Asia.

The Middle East & Africa is expected to grow the fastest during the forecast period. The growing awareness of the nutritional benefits of banana flour, growing health and wellness trends, and expanding food and beverage industries are driving growth. Countries such as South Africa, Egypt, and Nigeria are major contributors to this region's market growth. 

 List of Key Market Players

• Ceres Enterprises Ltd.
• Kokos Natural
• Healthy Foods
• Seawind International LLC
• Terova, Inc
• Woodland Foods
• Kadac Pty. Ltd.
• Natural Evolution (Europe) Ltd
• Edward & Sons Trading Co.
• Pereg Natural Foods & Spices

Key Market Developments

• In October 2021, The ICAR-National Research Centre for Banana (NRCB) in Trichy has signed a memorandum of understanding (MoU) with Cake Bee, one of India's top bakeries. The ICAR's low-cost innovative method of foam mat drying may be a viable alternative for producing cost-effective banana powders from ripe or market-rejected bananas.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the banana flour market based on the below-mentioned segments:

Banana Flour Market, Source Analysis

• Organic
• Conventional

Banana Flour Market, Process Analysis

• Freeze Dried
• Spray Dried

Banana Flour Market, Distribution Channel Analysis

• Direct Sale
• Indirect Sale

Banana Flour Market, Application Analysis

• Beverages
• Food
• Animal Feed

Banana Flour Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa