Global Banana Powder Market to Reach USD 1,974.43 Million by 2032

Banana powder is prepared by processing nutrient-rich bananas which are dipped into the warm water and are further peeled, sliced, blanched, mashed, diluted and filtered. The filtered banana juice is then spray dried to obtain the banana powder. The process increases its shelf life, thereby, providing the ease of storage and transportation. 

Banana powder is a rich source of minerals, proteins, potassium, antioxidants and dietary fibre. It offers various health benefits such as it maintains heart and eye health, builds strong bones, overcomes depression, prevents kidney cancer, controls blood sugar, treats various intestinal disorders as well as aids digestion. Owing to the aforementioned characteristics of banana powder, it currently finds wide applications across various industries.

According to a new report by Expert Market Research, the global banana powder market reached a value of USD 1,188.69 million in 2023 and is further expected to reach USD 1,974.43 million by 2032. Over the past several years, there has been an augmented demand for banana powder in the food and beverage industry where it is widely used in a number of food products and drinks. In addition, changing food preferences coupled with lifestyle changes have also led to its increasing demand across the world. Some of the other factors that have further added to the market growth include population growth, increasing disposable incomes and a strong demand from emerging markets.

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Key findings from the report:

• The major end-uses of banana powder include in food and beverage, feed and others. In 2020, food and beverage represented the largest end-use segment where banana powder is widely used puffed food, infant food, seasoning, instant food, shakes, ice-cream, cakes, cold food, etc. Food and beverage was followed by feed where its consumption is growing in cattle feed and pet food.

• Being fragmented in nature, the global banana powder market is surrounded by a number of players. Some of these players include Chiquita, Del Monte, Dole, Fyffes, Noboa.

Expert Market Research has analysed the global banana powder market according to end-use and top players:

Market breakup by End-use

• Food and Beverage

• Feed

• Others

Top players

• Chiquita

• Del Monte

• Dole

• Fyffes

• Noboa

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