The global banana powder market stood at a value of more than USD 1188.69 Million in 2023 and expected to grow at a CAGR of 5.80% in the forecast period of 2024-2032.
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Historical Year
Forecast Year
The market is currently being driven by the growing product demand in the food industry as banana powder is largely used in confectionery applications for the production of cakes, breads, pastries, and ice cream preparations, among others. In addition, banana powder also finds usage in infant food products, as it is easy to digest and is rich in potassium and other nutrients. Meanwhile, the demand for banana powder is also growing in animal feed preparations with the expanding livestock population worldwide.
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The Asia Pacific region is expected to account for a significant share of the global market for banana powder. This can be associated with the increased availability of bananas in the region, with India being the largest producer of bananas in the world, accounting for a total production volume of around 31.5 million tonnes in 2020. The increased demand for bananas across industry verticals is anticipated to support the market growth in the coming years. Meanwhile, the North America market for banana powder is anticipated to witness a considerable growth in the coming period, with the rising awareness regarding the availability and benefits of banana powder among consumers.
Banana powder is manufactured from fully ripened banana fruits either through drum drying or spray drying process. Processing of bananas into banana powder increases their shelf life to more than 6 months, provides the ease of transportation, and facilitates proper utilisation of bananas.
By source, the market is divided into:
On the basis of process type, the industry can be categorised into:
Based on sales channel, the market can be bifurcated into:
The market, on the basis of end use, can be segregated into:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The market is being aided by the rising consumer focus on health enhancing food to improve digestion, immunity, and overall physical health. Banana powder is a rich source of carbohydrates, antioxidants, and essential vitamins. Further, banana powder is also used in place of bananas in various recipes due to its ease of use and convenience. Another major factor supporting the market growth is the improved shelf-life of the product and reduced post-harvest losses of bananas. In addition, the increased utilisation of banana powder to prepare cosmetic products is anticipated to propel the market growth in the forecast period. For instance, major cosmetics manufacturers such as Maybelline have launched banana-based setting powders, which help set the make-up effectively and also provide a matte finish. Furthermore, the growing research activities in analysing the use of banana powder in the pharmaceutical sector are expected to create lucrative growth opportunities for the market in the forecast period.
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The report gives a detailed analysis of the key players in the global banana powder market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model and SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Source |
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| Breakup by Process Type |
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| Breakup by Sales Channel |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The global banana powder market reached a value of USD 1188.69 Million in 2023.
The market is projected to grow at a CAGR of 5.80% during the forecast period of 2024-2032.
By 2032, the market is estimated to reach a value of USD 1974.42 Million.
The key drivers of the market include rising disposable incomes, increasing population, increasing adoption of the product due to its longer shelf life and ease of use, and rising consumption of processed foods.
The incorporation of banana power in various cosmetics items and the growing shift towards organic products are the major trends that are expected to influence the market growth positively.
Asia Pacific is the leading region in the global market. North America, Latin America, the Middle East and Africa, and Europe are the other major regions in the market.
The leading sources of the product in the market are organic and conventional sources.
The significant process types through which banana powder is produced include freeze and spray dried processes.
Direct and indirect sales are the most significant sales channels in the market.
Food sector accounts for the largest share of the market, in terms of end-uses.
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Vietnam
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+84865399124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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