The global banana bread market demand is anticipated to be valued at USD 959.9 million in 2023, forecasted to grow at a CAGR of 14.1% to reach USD 3,600.8 million by 2033. Growth is attributed to the shifting consumer preference for healthy and nutritious bakery products with added medicinal properties.
Banana bread, as the name suggests, is a bread made using the banana as its main and unique constituent. In the current era, numerous recipes for banana bread are available on various websites. Multiple varieties of products are present in the market, allowing customers to have multiple options while choosing the product.
The ingredients of the banana bread include bananas, granulated sugar, flour, baking powder, spices, oil, butter, nuts, dairy products, and others. One slice of banana bread, which is 60g, contains 196 calories, and the main calorie content of the banana bread comes from the carbohydrates such as sugar, starch, and fiber, it also possesses 6.3g of fat and 2.3g of protein.
According to the Food and Agriculture Organization, bananas are produced in over 135 countries and territories across the tropics and subtropics. India ranks first in the production of bananas, with 29.7 million tons per year, followed by Uganda, 11.1 million tons per year, and China, 10.7 million tons per year.
On the contrary, banana bread remains high in added sugar, refined carbs, and overall calories. This is a major factor that is anticipated to limit the growth of the Banana Bread market in the near future.
| Attributes | Details |
|---|---|
| Banana Bread Market (2023) | USD 959.9 million |
| Banana Bread Market (2033) | USD 3,600.8 million |
| Banana Bread Market (CAGR) | 14.1% |
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Shifting consumer preference for healthy and nutritious bakery products with added medicinal properties is one of the major factors that is expected to boost the growth of the Banana Bread Market during the forecast period. Banana is very beneficial for keeping the heart and digestive system healthy and helps in weight management. These medicinal properties are expected to accelerate the growth of the Banana Bread Market over the analysis period.
Additionally, over the past few years, consumers have become more conscious of their health, which has propelled the demand for nutritious and healthy diets to achieve health and wellness. Bread is a staple food that is present in almost all kitchens in the world and is widely consumed for breakfast.
Easy availability of banana bread in various platforms ranging from modern trade to online sales channels is another major factor that is anticipated to boost the growth of the banana bread market in the near future. In addition, the increase in penetration of retail sales has augmented the growth of the banana bread market. Furthermore, the availability of banana bread on e-commerce platforms has resulted in the convenience of buying goods without physical constraints to consumers.
eCommerce offers customers information about product & prices as well as allow benefit comparison & comprehensive value evaluation before the purchase. Also, the increased expenditure of millennials on fast food has resulted in increased demand for banana bread. An increase in health consciousness among consumers has boosted manufacturers to introduce gluten-free banana bread, which in turn is expected to propel the growth of the market.
Increased consumption of brown sugar, jam, and honey is a major factor expected to hinder the growth of the Banana Bread Market during the forecast period.
Even though banana bread contains important nutrients, such as potassium, most varieties remain high in added sugar, refined carbs, and overall calories. This is another major factor that is expected to hamper the growth of the Banana Bread Market over the analysis period.
Typical café-style and store-bought banana bread contain white flour, which is not considered to be ideal for human health. That’s because white flour is made from refined wheat and has a high glycaemic index, which can spike the blood sugar level and leave a person hungry again soon after. This is also a factor that is anticipated to impede the growth of the Banana Bread Market in the forthcoming years.
Principal Consultant
| Key Regions | CAGR (2022) |
|---|---|
| North America | 21.0% |
| Europe | 12.0% |
| Asia Pacific | 6.1% |
| Middle East and Africa | 7.1% |
In terms of regional platforms, North America holds the largest market share in the banana bread market. The region is expected to surge to over 31.2% share in 2023.
The United States is one of the largest consumers of all kinds of bread, which offers growth opportunities for this product in the regional market. Such products are widely used in making various dishes, such as cheese bread and sandwiches. Customers are eagerly looking for new products, such as banana-based variants, with enhanced flavor, taste, and nutritional properties.
The growing demand for nutritionally balanced bakery products in the region is driving the banana bread market, attributed to a rise in health knowledge among the general public and a shift in individual food choices.
According to Future Market Insights, Europe is expected to hold significant growth opportunities for banana bread and is expected to reach a share of 26.5% in 2023.
The United Kingdom is one of the greatest consumers of all types of bread, which provides the potential for this product to flourish in the regional market. These ingredients are commonly used to prepare various foods, including cheese, bread, and sandwiches. Customers are eagerly awaiting new goods with better flavor, taste, and nutritional properties, such as banana-based versions.
In addition, increased urbanization and rising disposable incomes have fueled demand for pre-packaged convenience goods, propelling the market forward in Europe. The advent of different flavored varieties in the European market is expected to escalate the growth of the banana bread market in the near future.
According to Future Market Insights, Asia Pacific is expected to grow with lucrative growth opportunities for the banana bread market and reach a significant share of 21.4% in 2023.
Banana bread is highly popular in Japan and China because of its superior taste compared to its normal equivalents. Customers are progressively choosing healthier bakery products. Thus, the adoption of these products is expanding in the Asia-Pacific. Furthermore, rising living standards, rising disposable income, and Western cuisine influence are opening up new market opportunities in the region.
Manufacturers in the Asia-Pacific are constantly increasing their product selection to meet the different needs of their clients, such as by introducing chocolate, blueberry, and strawberry banana bread. They are also introducing fortified food varieties that are loaded with oats, almonds, and protein ingredients to the market.
Additionally, gluten-free banana bread is becoming increasingly popular among health-conscious consumers and people with gluten intolerance. Also, Bananas are a healthful fruit that has been used in a variety of dishes, including bread. Calories, sugar, and fats are commonly found in packaged and bakery bread. As a result, traditional bread is giving way to a lighter, more nutritious banana loaf. All these factors are expected to boost the growth of the banana bread market in the region during the forecast period.
According to Future Market Insights, the Middle East & Africa are expected to provide significant growth opportunities for the banana bread market and reach a share of 10.8% in 2023.
The growing demand for nutritionally balanced bakery products is driving the Banana Bread Market in the Middle East & Africa. This is due to a rise in health knowledge among the general public and a shift in individual food choices. Along with this, increased urbanization and rising disposable incomes have fueled demand for pre-packaged convenience goods, propelling the market forward in the region. The advent of different flavored varieties in the market has further boosted the Middle East & Africa industry.
There are many prominent market players in the banana bread market, such as HomeChef Maagic, ChefJunction, SUNT, and GoNanas, among others, that are working hand-in-hand to provide the best-in-class Acrylic BoxCleaes to enhance the global arena. However, many global start-ups in the banana bread market are stepping forward to match the requirements of the Banana Bread domain.
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Some of the key participants present in the global banana bread market include General Mills, Inc., Banana Bread Co., Mama Ka'z, King Arthur Baking Company, Inc., Papa Joe's Bakehouse, Big Banana Bread, Dank Banana Bread, The Essential Baking Company, Simple Mills, Havana Banana Breads, Wheyhey, and Woolworths Supermarkets, among others.
The market is highly competitive due to the presence of such a large number of participants. While global players such as General Mills, Inc., Banana Bread Co., and Mama Ka'z, King Arthur Baking Company, account for a considerable market size, several regional-level players are also operating across key growth regions, particularly in North America.
Recent Development:
A valuation of USD 959.9 million is attributed to the banana bread market in 2023.
The global banana bread market size is anticipated to surpass USD 3,600.8 million by 2033.
The banana bread market is projected to accelerate at a CAGR of 14.1% between 2023 and 2033.
North America is highly lucrative for the banana bread market, given its substantial banana production and a thriving culinary landscape.
The rising consumer preference for healthier baked goods enhances the appeal of banana bread in India, Japan, and China.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Unflavored 5.2. Flavored 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 6.1. Hypermarket & Supermarket 6.2. Convenience Stores 6.3. Online 6.4. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. General Mills, Inc. 17.2. Co. 17.3. Mama Ka'z 17.4. King Arthur Baking Company, Inc. 17.5. Papa Joe's Bakehouse 17.6. Big Banana Bread 17.7. Dank Banana Bread 17.8. The Essential Baking Company 17.9. Simple Mills 17.10. Havana Banana Breads 17.11. Wheyhey 17.12. Woolworths Supermarkets 18. Assumptions & Acronyms Used 19. Research Methodology
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