Banana Flakes Market

Banana Flakes Market Snapshot

According to Future Market Insights (FMI), Global Banana Flakes Market size was estimated at USD 494.0 million in 2021 and expected to reach USD 810 million in 2032, at a 4.6%.

Attribute	Details
Market Size Value in 2022	USD 494.0 Million
Market Forecast Value in 2032	USD 810.2 Million
Global Growth Rate (2022 to 2032)	4.6%
Forecast Period	2022 to 2032
Market Share of India in South Asia	~25%

The increased demand for organic products from both developed and emerging nations has a significant impact on the worldwide banana flakes market. The demand for healthier food items is increasing as people become more health conscious around the world.

Banana flakes are used in the production of cereals and other fruit-based foods, therefore demand is expected to increase in the coming years. The trend of consuming organic food items is gaining hold around the world, with customers increasingly focused on organic food production methods. Over the next decade, growing demand for gluten-free, organic and nutritional products is predicted to fuel demand for banana flakes.

Over the next few years, this pattern is projected to continue and spread across developed regions. Although conventional is the biggest source in terms of units consumed, the organic category is expected to grow at the highest rate of the two in terms of value during the projection period of 2022 to 2032, with a CAGR of 6.5%. The organic source segment is expected to outperform the conventional source sector in terms of volume.

The world market for banana flakes is anticipated to grow at a high volume CAGR during the forecast period, according to an in-depth research analysis.

How The Market Progressed Till June 2022?

Particulars	Details
H1 2021	4.6%
H1 2022 Projected	4.6%
H1 2022 Expected	5.1%
BPS Change	- 50.6 ↓

FMI presents a half-yearly comparison analysis and review of the market growth rates and further development prospects in the global market. The market is predominantly influenced by certain demographic and innovation factors under the subjective impact of macro and industry factors.

Some new developments that have taken place in these markets include:

• Organic food consumption is becoming more popular throughout the world, with people becoming more interested in organic production practices.
• Growing market for gluten-free, organic, and nutritious products is anticipated to raise the demand for banana flakes over the next decade.
• The growth of fast service local restaurants outlets in emerging countries including the Middle East and Africa, as well as Asia and the Pacific, has resulted in a favorable shift in demand for banana flakes as a healthy fast food alternative.

The global market for Banana Flakes has witnessed H1 2021 growth at the magnitude of 4.6%. However, this growth is not evenly spread across all regions, with the developing markets recording higher growth rates of 5.1%. Thus, leaving the gap of -50.6 BPS points between expected and projected growth during H1 2022.

Key reasons for this change in growth rate are attributed to slow/rapid uptake of the market during the first half of the forecast period owing to improving end-user demand in key economies and their booming populations.

In particular, China and India are both seeing an increase in their consumption pattern, resulting in increased demand for the Banana Flakes market. Additionally, many other market segments are expected to perform fairly and attain promising growth prospects in the next half of the projection period.

Despite these positive prospects, there are some likely challenges that stay ahead for the industry including a shift in consumer preferences, stringent trade barriers, and a low degree of security in raw material supply, and other manufacturing inputs.

Gluten-Free Food To Boost Sales Of Banana Flakes

Natural food products are becoming more popular among consumers these days. Demand for gluten-free products is expected to rise as the incidence of celiac disease and IBS rises, particularly in emerging countries.

Because banana flakes are gluten-free, they are expected to rise in popularity due to their health benefits, which include reduced chronic inflammation and improved digestive health. Gluten-free products will become more popular in the next years as more people become health-conscious.

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Country-Wise Analysis

Germany to Hold a Significant Share for Banana Flakes in the European Market

Germany is one of Europe's biggest banana flake consumers, accounting for over a quarter of the market. Germany imports bananas mostly from major banana-producing countries, which are then processed into a variety of banana-based goods.

Banana flakes are widely used in both the food manufacturing and the restaurant industries in Germany. The nutraceutical market for banana flakes is expected to develop over the next decade. Due to increased demand for nutraceutical products in the country, the market growth is expected to surpass a CAGR of 6%.

India - A Lucrative Market for Banana Flake Manufacturers

In India, banana flake consumption is expected to grow at an annual rate of roughly 8%. The fast-growing food and beverage sector, as well as the country's demand for organic food, are expected to boost sales significantly.

A major reason pushing banana flake demand in India is the growing demand for nutritional and healthful food products from health-conscious customers.

Companies that produce banana flake in the country also sell to industrialized countries. During the next few years, demand for banana flakes is expected to be fueled by changing consumer behaviour toward a healthy lifestyle through the consumption of nutritious components in the diet. Furthermore, the country's high population is predicted to increase demand for banana flakes, as well as rising demand for infant and organic food.

Category-wise Insights

Activated Carbon and Phosphorous Chemicals Will Be a Big Part of Modified Soya Flour Ingredients

In 2020, the Activated Carbon category stood as the largest revenue generator. This is due to the fact that activated carbon aids in the purification of various food and beverage procedures, which has resulted in an increase in the use of activated carbon in the food and beverage sector. Furthermore, activated carbon aids in the removal of odor from food, increasing the need for activated carbon ingredients and therefore the market's growth.

For the period 2022 to 2032, the Methylcellulose category is expected to grow at the fastest rate of 4.5 percent. This is due to its numerous health benefits, such as the reduction of constipation. Furthermore, methylcellulose is employed in a variety of baked goods, which is increasing the use of methylcellulose in food and, as a result, the Banana Flakes Market.

Packaged Food segment is Boosting the Application Segment

Based on application, the Banana Flakes Market can be divided into Packaged Bakery, Food, Soups and Confectionery, and Others. In 2020, the Packaged Food category will account for the largest proportion of the Banana Flakes Market. This is mostly due to increased consumer adoption of packaged food as a result of higher consumption of ready-to-eat items.

Furthermore, packaged food has a longer shelf life, which increases consumer preference for packaged food due to their busy schedules. Over the period 2022 to 2032, the Bakery and Confectionery segment is expected to grow at the fastest rate of 5.2 percent.

This is primarily due to rising consumer demand for baked goods, which drives up bakery and confectionery demand. Furthermore, producers are concentrating on developing a variety of baked goods that would increase customer demand, hence moving the Banana Flakes Market forward.

Competition Landscape: Top Banana Flakes Market Manufacturers

According to the market research analysis Om Foods Inc, Z Natural Foods, Van Duren Farms, Orkla Group, Raeler Fruchtchips GmbH, Symrise, Seawind International LLC, Johs. Thoms GmbH & Co. KG, Tradal Brazil, Nutritional Designs, Inc., Futurcorp S.A., Cosmo Foods, Agro America, VINJ-Food,Dermasal are identified as key players in the Banana Flakes Market.

Demand for banana flakes is likely to come primarily from South Asia and East Asia, according to manufacturers. They are concentrating on boosting manufacturing capacity as well as doing research and development to develop goods that would reveal the nutritional benefits of banana flakes.Companies like Van Duren Farms, Symrise, Seawind International LLC, and others are working on providing high-quality banana flakes for a variety of applications.

Scope Of Report

FMI in its latest survey on the global banana flakes market attempts to provide a thorough analysis of market dynamics influencing sales of banana flakes across diverse various regional pockets. The study highlights major growth drivers that are expected to create a conducive environment for the manufacturers of banana flakes.

The report explains how changing consumer preference for organic and gluten free products can impact sales of banana flakes during the assessment period. It delves deep into consumers' minds to identify factors encouraging banana flakes consumption.

A certain number of chapters have been dedicated towards discussing the leading market players and their respective growth strategies that enable them to capitalize on emerging opportunities.

FMI also provides valuable insights into leading market segments and provides a graphical presentation to make the study more interesting. Uncover the key factors behind exponential growth of banana flakes market with Future Market Insights latest industry analysis.

The Banana Flakes market analysis includes:

• A 10-year realistic banana flake sales forecast slicing across multiple verticals
• Detailed information on demand and sales prospects across 25 countries
• Key insights into leading market segments along with their respective shares.
• An in-depth analysis of innovations and growth strategies adopted by market players
• Illustrative presentation of banana flakes market, highlighting the impact of changing food habits on market dynamics

Attribute	Details
Market Size Value in 2021	USD 494.0 Million
Market Forecast Value in 2032	USD 810.2 Million
Global Growth Rate	4.6%
Forecast Period	2022 to 2032
Historical Data Available for	2017 to 2021
Market Analysis	MT for Volume and USD Million for Value
Key Regions Covered	North America; Latin America; Europe; Japan; Asia Pacific Except Japan-APEJ and Middle East and Africa MEA
Key Countries Covered	United States, Canada, Brazil, Mexico, Argentina, EU5, Russia, Poland, China, ASEAN, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, others.
Key Market Segments Covered	Ingredients, Application, Sales Channel and Regions
Key Companies Profiled	Om Foods Inc; Z Natural Foods; Van Duren Farms; Orkla Group; Raeler Fruchtchips GmbH; Symrise; Seawind International LLC; Johs. Thoms GmbH & Co. KG; Tradal Brazil; Nutritional Designs, Inc.; Futurcorp S.A.; Cosmo Foods; Agro America; VINJ-Food; Dermasal; Others
Pricing	Available upon Request

Market Segments Covered In Banana Flakes Market Industry Analysis

By Source:

• Organic
• Conventional

By Application:

• Household
• Food & Beverage Industry
• Other Application

By Sales Channel:

• Direct Sales
• Indirect Sales

By Region:

• North America
• Latin America
• Europe
• Japan
• Asia Pacific Except Japan-APEJ
• Middle East and Africa-MEA

Frequently Asked Questions

How Big will be Banana Flakes Market by 2032?

The banana flakes market is going to be USD 810 million by 2032.

What will be Market CAGR through 2032?

The market CAGR through 2032 is likely to be 4.6%.

At What Pace will Germany Expand through 2032?

Germany is expected to capture 6% CAGR through 2032.

Which Country is Expected to Exhibit Robust Pace?

India is expected to expand at a CAGR of 8% through 2032.

Which Segment Accounts for Leading Market Share?

The packaged food category accounts for a leading market share.

What are the Recent Developments in the Banana Flakes Market?

The popularity of organic food is advancing the market.