Banana Powder Market Definition And Segments
Banana powder refers to a processed form of bananas, typically made by drying ripe bananas and grinding them into a fine powder. This powder retains much of the nutritional content and flavor of fresh bananas, including vitamins, minerals, and dietary fiber. It can be used as a natural ingredient in various food and beverage products, including nutritional supplements.
The main types of banana powder processing include freeze-dried, spray-dried, sun-dried, drum-dried, and others. Freeze-dried banana powder is produced by freezing the fruit and then removing the moisture through a process called sublimation. These are sold through various distribution channels, such as supermarkets, convenience stores, and online stores, for several applications, including the food industry, cosmetics, beverages, pet food and feed, and household.
The banana powder market covered in this report is segmented –
1) By Process: Freeze Dried, Spray Dried, Sun Dried, Drum Dried, Other Processes
2) By Distribution Channel: Supermarkets, Convenience Stores, Online Stores
3) By Application: Food Industry, Cosmetics, Beverages, Pet Food And Feed, Household
The banana powder market size has grown strongly in recent years. It will grow from $1.13 billion in 2023 to $1.22 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to demand for natural food products, rising vegan and plant-based Diets, and rise in infant food products.
The banana powder market size is expected to see strong growth in the next few years. It will grow to $1.63 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to health consciousness, a rising vegan population, innovation in product development, diversification in end-use applications, and rising demand for functional foods. Major trends in the forecast period include the adoption of sustainable practices, applications in functional foods and beverages, flavor innovation, clean label products, and functional snacking.
The Impact Of Food And Beverage Sector Expansion On The Banana Powder Market Growth
The expansion of the food and beverage sector is expected to propel the growth of the banana powder market going forward. The food and beverage sector encompasses all businesses involved in the production, processing, distribution, and sale of food and drinks for human consumption. The demand for the food and beverage sector increases due to various factors, such as consumer pricing pressures, economic stability, and increased demands for food transparency. Food and beverage companies often point out several nutritional benefits in their marketing efforts to attract health-conscious customers. Banana powder contains essential components such as potassium, fiber, and vitamins, which can be used as a natural substitute for artificial sweeteners and flavorings. For instance, in February 2024, according to the Department for Environment, Food, and Rural Affairs, a UK-based government organization, the gross value added (GVA) of the food sector was $130 billion in 2021, increasing by 12.3% since 2020. GVA for all food and drink sectors increased in this period, with catering increasing by 31.6%, manufacturing by 8%, retailing by 5.5%, and wholesaling by 0.4%. Therefore, the expansion of the food and beverage sector is driving the growth of the banana powder market.
Major companies operating in the banana powder market are Corteva Inc., Fresh Del Monte Produce Inc., Chiquita Brands International Sàrl, Dole plc, Taj Agro International, Kanegrade Limited, Vinayak Ingredients Pvt. Ltd., Santosh Food Products, Nutraceuticals International Group, National Food N Spices, Naturalin Bio-Resources Co. Ltd., Safety Foods Pvt Ltd., NuNaturals Inc., Naturya, Biovitals Ingredients, AayurMed Biotech Pvt. Ltd., Coliman Group, Mevive International, Cool Milling Ventures Corporation, Banatone Industries, Aarkay Food Products Ltd., Saipro Biotech Pvt. Ltd., Perennial Lifesciences Private Limited, Royal Nut Company, Varmora Food Pvt Ltd., Sumitomo Corporation, GRUPO JUGAL Inc.
Banana Powder In Eye Creams As An Innovative Skincare Solutions
Major companies operating in the banana powder market are focusing on developing advanced products, such as eye creams containing banana powder, to offer health benefits to consumers. Banana flour is a powder made from green bananas used in a variety of recipes beyond baking. Eye creams are specialized skincare products formulated to address the delicate skin around the eyes. They are designed to be thicker than regular facial lotions, containing more oil and active ingredients specifically designed to target specific issues commonly seen around the eyes. For instance, in July 2022, Ole Henriksen Skincare, a Denmark-based manufacturer of skin care products, launched the Banana Bright+ Eye Crème!, an eye cream made from banana powder-inspired pigments. The eye cream contains light-reflecting yellow mineral pigments derived from banana powder, which rapidly color-correct and brighten the under-eye area, offering immediate illumination and a refreshed look. Ole Henriksen Skincare explored fresh developments in vitamin C technology and tweaked the formula to give better and brighter outcomes. The new vegan, fragrance-free solution has three potent types of vitamin C, including a highly stable vitamin C complex with real gold for increased brightness and smoothness.
Introduction Of Banana-Powdered Supplements In The Market
Major companies operating in the banana powder market are focused on introducing innovative solutions, such as banana-powdered supplements, to gain a competitive edge in the market. A banana powder supplement refers to a dietary supplement derived from bananas that have been processed into a powdered form. For instance, in 2021, Banana Feeds Australia, an Australia-based manufacturer of banana-based feed supplements for animals, launched BEE-COMPLETE powder for the supplementation of bee colonies and beehive health. It is a natural supplement made from 100% whole-dried green bananas. This powder is intended to improve the health and performance of bee colonies that produce honey and provide pollination services. It is made using whole green bananas, including the pulp, peel, stem, and flower ends so that all of the nutritional benefits of green bananas are maximized.
North America was the largest region in the banana powder market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the banana powder market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the banana powder market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The banana powder market consists of sales of banana powder extracts, banana leaves, banana peel, organic banana powder, and baby food. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The banana powder market research report is one of a series of new reports from The Business Research Company that provides banana powder market statistics, including banana powder industry global market size, regional shares, competitors with a banana powder market share, detailed banana powder market segments, market trends and opportunities, and any further data you may need to thrive in the banana powder industry. This banana powder market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.