The consumption of banana flour in Korea is estimated to display a healthy CAGR of 7.1% through 2033. Sales of banana flour in Korea are expected to jump from US$ 5.58 million in 2023 to US$ 11.05 million by 2033.
In Korea, health-conscious consumers are seeking food varieties enriched with banana flour due to its better nutrient index. This flour adds a distinct flavor, aroma, and texture to the recipient dish. Banana flour makes its way into multiple dishes like pancakes, smoothies, and baked goods due to growing popularity of its mild taste among consumers in Korea. Running trend of gluten-free ingredients in the food industry is creating opportunities for leading manufacturers of banana flour. Moreover, shifting focus of Korean consumers, valuing nutrition from natural as well as high-quality food sources, is fueling the appetite for banana flour.
Banana flour additionally finds practical use among fitness-conscious consumers in Korea, especially among those attempting to lose weight. Additionally, significant health benefits of banana flour are contributing to its consumption among people with diseases like high cholesterol or heart disease.
| Attributes | Details |
|---|---|
| Industry size of Banana Flour in Korea in 2023 | US$ 5.58 million |
| Expected Industry Size of Banana Flour in Korea by 2033 | US$ 11.05 million |
| Forecast CAGR between 2023 to 2033 | 7.1% |
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| Leading Source | Conventional |
|---|---|
| Value Share % (2023) | 94.70% |
The conventional source of banana flour accounts for a value share of 94.70% in 2023. This dominance can be attributed to its widespread availability both online and in physical stores. The sales of the conventional variant of banana flour are driven by critical factors such as its taste, accessibility, cost-effectiveness, and texture. Following factors are contributing to the sales of conventional banana flour:
| Leading Application | Food Industry |
|---|---|
| Value Share % (2023) | 72.40% |
Based on application, the food industry comprises 72.40% value share in the regional industry. Following factors are propelling the appetite for banana flour in the region’s food industry:
Principal Consultant
Key players are developing new banana flour products to cater to the shifting demands of consumers. For instance, certain manufacturers are producing banana flour products that specifically cater to people with dietary restrictions like vegan or gluten-free diets. Additionally, companies are making substantial investments in brand-building activities to spread awareness about their product offerings and to establish a strong brand image in the minds of consumers.
Players are partnering with distribution channels such as eCommerce platforms and new retailers to increase the reach of their food products. Moreover, competitors in the industry are employing various pricing strategies to attract and retain customers. For example, certain companies are offering discounts on their banana flour products to build customer loyalty.
Profiling of Leading Players of Banana Flour in Korea
| Company Name | Company Details |
|---|---|
| Olam International | The company holds a leading position in the food and agri-business industry and has a solid presence in Korea. The firm provides a broad range of services and products, including banana flour. The banana flour offered by the company is made from high-quality bananas. The product is used by several food manufacturers in Korea to create new varieties of products like pancakes, baked goods, and more. |
| CJ CheilJedang | The company holds a prominent position in the food and beverage industry in Korea. The company utilizes state-of-the-art technology for better product output. |
| Dongwon Food | The company is a leader in the food processing industry in Korea. It offers a wide variety of food products, including banana flour, to be used in various applications such as beverages, pet food, soups, sauces, and more. |
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| Attribute | Details |
|---|---|
| Estimated Industry Size of Banana Flour in Korea (2023) | US$ 5.58 million |
| Projected Industry Size in 2033 | US$ 11.05 million |
| Anticipated CAGR between 2023 to 2033 | 7.1% CAGR |
| Historical Analysis of Demand for Banana Flour in Korea | 2019 to 2023 |
| Demand Forecast for Banana Flour in Korea | 2023 to 2033 |
| Process | Sun-dried, Freeze-dried, Spray-dried, Others |
| Application | Beverages, Pet Food and Feed Industry, Household, Food Industry, Bakery and Snacks, Infant Foods, Filling and Dressings, Soups and Sauces, Others |
| Source | Organic, Conventional |
| Sales Channel | Direct Sales, Indirect Sales(Modern Trade, Convenience Store, Specialty Store, E-retailers, Other retail formats) |
| Report Coverage | Industry Size, Industry Trends, Analysis of Key Factors Influencing Banana Flour Consumption in Korea, Insights on Korea Players and their Industry Strategy in Korea, Ecosystem Analysis of Local and Regional Korea Providers |
| Key Cities Analyzed | South Gyeongsang, North Jeolla, South Jeolla, Jeju |
| Key Companies Profiled | Olam International; CJ CheilJedang; Dongwon Food; SK Food; Glico Korea |
The anticipated CAGR for banana flour in Korea through 2033 is 7.1%.
Demand for banana flour in Korea is expected to be US$ 11.05 million by 2033.
New innovations in the industry are the go-to strategy of industry players in Korea.
Conventional source is gaining prominence in the banana flour industry in Korea.
Food industry is a significant consumer of banana flour in Korea.
1. Executive Summary 1.1. Korea Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) & Volume (Tons) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Source 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Source, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Source, 2023 to 2033 5.3.1. Organic 5.3.2. Conventional 5.4. Y-o-Y Growth Trend Analysis By Source, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Source, 2023 to 2033 6. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Application, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Application, 2023 to 2033 6.3.1. Beverages 6.3.2. Pet Food and Feed Industry 6.3.3. Household 6.3.4. Food Industry 6.3.4.1. Bakery & Snacks 6.3.4.2. Infant Food 6.3.4.3. Fillings & Dressings 6.3.4.4. Soups and Sauces 6.3.4.5. Others 6.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033 7. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Distribution Channel, 2018 to 2022 7.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Distribution Channel, 2023 to 2033 7.3.1. Direct 7.3.2. Indirect 7.3.2.1. Modern Trade 7.3.2.2. Convenience Store 7.3.2.3. Speciality Store 7.3.2.4. E-Retailers 7.3.2.5. Other retail format 7.4. Y-o-Y Growth Trend Analysis By Distribution Channel, 2018 to 2022 7.5. Absolute $ Opportunity Analysis By Distribution Channel, 2023 to 2033 8. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Region, 2018 to 2022 8.3. Current Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Region, 2023 to 2033 8.3.1. South Gyeongsang 8.3.2. North Jeolla 8.3.3. South Jeolla 8.3.4. Jeju 8.3.5. Rest of Korea 8.4. Market Attractiveness Analysis By Region 9. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 9.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Source 9.2.2. By Application 9.2.3. By Distribution Channel 9.3. Market Attractiveness Analysis 9.3.1. By Source 9.3.2. By Application 9.3.3. By Distribution Channel 9.4. Key Takeaways 10. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 10.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Source 10.2.2. By Application 10.2.3. By Distribution Channel 10.3. Market Attractiveness Analysis 10.3.1. By Source 10.3.2. By Application 10.3.3. By Distribution Channel 10.4. Key Takeaways 11. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 11.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Source 11.2.2. By Application 11.2.3. By Distribution Channel 11.3. Market Attractiveness Analysis 11.3.1. By Source 11.3.2. By Application 11.3.3. By Distribution Channel 11.4. Key Takeaways 12. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 12.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Source 12.2.2. By Application 12.2.3. By Distribution Channel 12.3. Market Attractiveness Analysis 12.3.1. By Source 12.3.2. By Application 12.3.3. By Distribution Channel 12.4. Key Takeaways 13. Rest of Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 13.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Source 13.2.2. By Application 13.2.3. By Distribution Channel 13.3. Market Attractiveness Analysis 13.3.1. By Source 13.3.2. By Application 13.3.3. By Distribution Channel 13.4. Key Takeaways 14. Market Structure Analysis 14.1. Competition Dashboard 14.2. Competition Benchmarking 14.3. Market Share Analysis of Top Players 14.3.1. By Regional 14.3.2. By Source 14.3.3. By Application 14.3.4. By Distribution Channel 15. Competition Analysis 15.1. Competition Deep Dive 15.1.1. Kaffa Int Co., Ltd. 15.1.1.1. Overview 15.1.1.2. Product Portfolio 15.1.1.3. Profitability by Market Segments 15.1.1.4. Sales Footprint 15.1.1.5. Strategy Overview 15.1.1.5.1. Marketing Strategy 15.1.1.5.2. Product Strategy 15.1.1.5.3. Channel Strategy 15.1.2. Let's Do Organic 15.1.2.1. Overview 15.1.2.2. Product Portfolio 15.1.2.3. Profitability by Market Segments 15.1.2.4. Sales Footprint 15.1.2.5. Strategy Overview 15.1.2.5.1. Marketing Strategy 15.1.2.5.2. Product Strategy 15.1.2.5.3. Channel Strategy 15.1.3. NuNatural Inc. 15.1.3.1. Overview 15.1.3.2. Product Portfolio 15.1.3.3. Profitability by Market Segments 15.1.3.4. Sales Footprint 15.1.3.5. Strategy Overview 15.1.3.5.1. Marketing Strategy 15.1.3.5.2. Product Strategy 15.1.3.5.3. Channel Strategy 15.1.4. Zuvii 15.1.4.1. Overview 15.1.4.2. Product Portfolio 15.1.4.3. Profitability by Market Segments 15.1.4.4. Sales Footprint 15.1.4.5. Strategy Overview 15.1.4.5.1. Marketing Strategy 15.1.4.5.2. Product Strategy 15.1.4.5.3. Channel Strategy 15.1.5. NOW Health Group Inc. 15.1.5.1. Overview 15.1.5.2. Product Portfolio 15.1.5.3. Profitability by Market Segments 15.1.5.4. Sales Footprint 15.1.5.5. Strategy Overview 15.1.5.5.1. Marketing Strategy 15.1.5.5.2. Product Strategy 15.1.5.5.3. Channel Strategy 15.1.6. Natural Evolution 15.1.6.1. Overview 15.1.6.2. Product Portfolio 15.1.6.3. Profitability by Market Segments 15.1.6.4. Sales Footprint 15.1.6.5. Strategy Overview 15.1.6.5.1. Marketing Strategy 15.1.6.5.2. Product Strategy 15.1.6.5.3. Channel Strategy 15.1.7. Ceres Enterprises Ltd 15.1.7.1. Overview 15.1.7.2. Product Portfolio 15.1.7.3. Profitability by Market Segments 15.1.7.4. Sales Footprint 15.1.7.5. Strategy Overview 15.1.7.5.1. Marketing Strategy 15.1.7.5.2. Product Strategy 15.1.7.5.3. Channel Strategy 15.1.8. Diana Foods 15.1.8.1. Overview 15.1.8.2. Product Portfolio 15.1.8.3. Profitability by Market Segments 15.1.8.4. Sales Footprint 15.1.8.5. Strategy Overview 15.1.8.5.1. Marketing Strategy 15.1.8.5.2. Product Strategy 15.1.8.5.3. Channel Strategy 15.1.9. International Agriculture Group 15.1.9.1. Overview 15.1.9.2. Product Portfolio 15.1.9.3. Profitability by Market Segments 15.1.9.4. Sales Footprint 15.1.9.5. Strategy Overview 15.1.9.5.1. Marketing Strategy 15.1.9.5.2. Product Strategy 15.1.9.5.3. Channel Strategy 15.1.10. ADM Wild Europe GmbH & Co. 15.1.10.1. Overview 15.1.10.2. Product Portfolio 15.1.10.3. Profitability by Market Segments 15.1.10.4. Sales Footprint 15.1.10.5. Strategy Overview 15.1.10.5.1. Marketing Strategy 15.1.10.5.2. Product Strategy 15.1.10.5.3. Channel Strategy 15.1.11. KADAC Pty Ltd 15.1.11.1. Overview 15.1.11.2. Product Portfolio 15.1.11.3. Profitability by Market Segments 15.1.11.4. Sales Footprint 15.1.11.5. Strategy Overview 15.1.11.5.1. Marketing Strategy 15.1.11.5.2. Product Strategy 15.1.11.5.3. Channel Strategy 15.1.12. Natural Evolution 15.1.12.1. Overview 15.1.12.2. Product Portfolio 15.1.12.3. Profitability by Market Segments 15.1.12.4. Sales Footprint 15.1.12.5. Strategy Overview 15.1.12.5.1. Marketing Strategy 15.1.12.5.2. Product Strategy 15.1.12.5.3. Channel Strategy 16. Assumptions & Acronyms Used 17. Research Methodology
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Demand and Trend Analysis of Banana Flour in Korea
