In 2022, the global green banana flour market was estimated to have acquired USD 623 million. Changing consumer preferences towards organic and gluten-free flour will propel the market to reach a sum of USD 1,026.1 million by 2033, garnering a CAGR of 5% during the forecast period, 2023 to 2033.
An increase in the number of consumers who are health-conscious and their choice for clean label items in daily diet are predicted to be the main drivers of market expansion. The nutritional profile of green banana flour makes it a known functional component. They have prebiotic fiber, a fiber that's good for the digestive system and helps burn abdominal fat. It is useful for digestion is prebiotic fiber. Green banana flour may help with blood sugar regulation, alleviate metabolic syndrome symptoms, maintain a healthy colon, aid in weight reduction, and lower cholesterol. Benefits as these are expected to boost the sales in this market during the forecast period, 2023 to 2033.
There is a rising demand for green banana flour across the world because banana plants and fruits are healthy and an excellent source of fiber, vitamin C, vitamin A, resistant starch, vitamin B6, and potassium. With more minerals, total polyphenols, dietary fibers, and antioxidant activity than green banana flour made from peeled bananas, it has a better nutritious value. The demand for immunity-boosting foods and supplements has grown as a result of greater consumer knowledge of the value of proper immunity, which will likely lead to a growth in the global market size for green banana flour in the years to come.
The preference for green banana flour among infants in terms of digestion and the development of cutting-edge production processes speed up market expansion. The market for green banana flour is positively impacted by the product's extensive use in a variety of applications, including confectionery, bakery, filling and dressing, snacks, and infant food, amongst others.
| Report Attribute | Details |
|---|---|
| Estimated Market Value (2022) | USD 623 million |
| Expected Market Value (2023) | USD 648 million |
| Projected Forecast Value (2033) | USD 1026.1 million |
| Anticipated Growth Rate (2023 to 2033) | 5% CAGR |
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During the historical period of 2018 to 2022, the global green banana flour market experienced a growth of CAGR of 2.7%. By the end of 2018, this market was valued at USD 559.1 million.
The way people eat food has evolved, and they are now more conscious about living a healthy lifestyle. The need for green banana flour has expanded as the popularity of gluten-free goods has grown. As more consumers adopt healthy eating practices, the demand for goods like banana flour is rising.
As customers grow more conscious about maintaining a healthy lifestyle, many major players have developed organic green banana flour. An increase in the manufacturing of green bananas is one of the main drivers of the expansion of the green banana flour market. In 2022, as a result of these developments, the revenues in this market went beyond USD 623 million in 2022.
Consumer Demand is Moving towards Gluten-free products
The growing obesity rate pushes up demand for gluten-free goods. According to the United States Food and Agriculture Organization (FAO), 6% of Americans are gluten intolerant. It is more widespread than celiac disease, that affects 1% of people. By replacing up to 30% of wheat flour with whole green banana flour, the bread's overall nutritional fiber content is dramatically raised. Consumers from millennials and generation Z are more likely to adhere to gluten-free dietary guidelines.
A significant driver boosting market revenue development is the shift in customer desire for wholesome, nutritious foods with added health advantages, such as the antioxidants included in green bananas that enhance cellular health and reduce dangerous free radicals. Green banana-based foods are also gluten-free, which is gaining popularity with customers who are concerned about their health and is another reason boosting market revenue growth.
Organic and Clean-label products are becoming Popular in the Market
The demand for organic products has significantly increased as customers' preferences for healthy eating have grown. Customers seeking products free of chemicals and pesticides are increasingly buying green banana flour prepared with organic ingredients. In order to comprehend the quality of the green bananas required to make the flour, banana flour producers work closely with vendors or farmers.
The increased demand for organic green banana flour is predicted to have an impact on market demand. For example, Miski Organics sells green banana flour that is 100% organic and strong in antioxidants, which benefits human health as well as wellbeing.
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Side-effects related to Green Banana Flour will impede Market Growth
Despite having an abundance of advantages, consuming banana flour might have a number of negative consequences. Green bananas include carbohydrates and chemicals. These carbohydrates can help control the digestive system since some of them have a fiber-like action. The substances could act as antioxidants and lessen edema.
Bananas contain potassium in addition to other vitamins and minerals. The negative effects of consuming fresh green banana flour are numerous. For instance, banana flour has a variety of negative consequences that may manifest if consumed in excessive numbers.
The Conventional Segment will be High in Demand during the Forecast Period
By product type, the conventional segment is anticipated to be the dominant segment in the global market for green banana flour during the forecast period. In 2022, this segment acquired 72.6% of the global market share.
When the conventional kinds of banana flour is being compared to the organic one, it is quite cheaper. It requires no further processing, which finally cut costs. The organic one becomes high cost as it involves various labelings like the clean-labels and sustainability labels.
The Spray-dried process of green banana flour will be a Lucrative Option for Manufacturers
In 2022, the spray-dried segment of the green banana flour market gained a prominent position in the global market. It had acquired a market share of 23.8% in 2022.
Spray drying creates dried particles by spraying the feeding stream of the particulate fluids into heated air. This technique has the quickest drying time. The spray drying technique has been widely used to make powders because it can provide a dependable and consistent product with exact quality requirements.
In items like beverages that are ready to drink in homes or in any product needing fruit solids, such as yogurts, desserts, infant formulas, medications, etc., it offers both shelf stability and convenience of use. During the forecast period, all of these elements are anticipated to influence the spray dried green banana flour products market.
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Consumer are Moving Towards Products with Clean-labeling and Organic stamps
According to Future Market Insights, North America led the green banana flour market in 2022 and is expected to continue to do so during the forecast period. In 2022, the market share represented by the United States in this area was predicted to be 24.5%.
Growing health concerns in the United States have increased customer interest towards clean label products, which are thought to be healthier than the non-clean label alternatives since they are manufactured with real food rather than cheap chemical substitutes. Traceability, authenticity, and organic or even sustainable farming are key components of clean label products.
Customers who desire products without artificial additives or elements that might be dangerous are increasingly being given access to clean-label items. The desire from consumers for healthy, natural foods free of toxic additives like artificial colors, bromine vegetable oil, aspartame, and caramel color is being met by food producers. The market in the United States is anticipated to be driven by rising consumer demand for clean label products.
Gluten-free Options are propelling the demand for Green Banana Flour
The Asia Pacific market for green banana flour is likely to be a lucrative one for the developing countries are experience a fast-growing CAGR. The China market is expected to garner a 5.6% CAGR and the Indian market is to observe a 6.7% CAGR during the forecast period.
Asia Pacific represents one of the most populated continents and has one of the greatest populations of consumers of food and drink. The Asia Pacific region has a long tradition of eating green bananas as vegetables, but over the past ten years, the tendency has changed as awareness of the relevance and health advantages of green banana flour has grown. Since bananas have grown into a healthier alternative to processed and raw meals, manufacturers in the area are more likely to produce banana-related items.
One of the issues that customers in Asia and throughout the world have is gluten sensitivity. In the world's food supply, wheat and foods containing it are widely available and are frequently linked to gluten. Numerous conditions, such as non-celiac sensitivity to gluten, celiac disease, as well as wheat allergy, can lead to gluten intolerance.
The conventional grain flour that is frequently consumed in the area is being replaced by green banana flour since it is healthier and has no gluten. Elements as these are thus anticipated to drive demand for banana flour throughout the projected period.
The key players in this market include:
Some of the products being launched by the key players are:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5% from 2022 to 2032 |
| Market value in 2023 | USD 648 million |
| Market value in 2033 | USD 1,026.1 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | USD million for value |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product Type, Process, Sales Channel, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Mexico, Brazil, Germany, United Kingdom, France, Spain, Italy, Japan, China, Singapore, Thailand, Indonesia, Israel, GCC countries, South Africa, Australia, New Zealand |
| Key Companies Profiled | International Agriculture Group; Stawi Foods and Fruits Limited; Natural Evolution Limited; Made’s Green Banana Flour Co.; Pereg Gourmet Natural Foods; Kanegrade Ltd; Banatone Food Industries; Slingan Pty Ltd.; Absolute Organic; NOW Health Group, Inc. |
| Customization & Pricing | Available on Request |
The market in 2022 was valued at USD 580 million.
The CAGR from 2022 to 2032 will be 4.2%.
The market expanded at a 3.3% CAGR From 2017 to 2022.
The market is estimated to reach USD 865 million by 2032.
NuNatural Inc., Zuvii, and NOW Health Group Inc., are the prominent market players.
1. Executive Summary | Green Banana Flour Market 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 Type 5.1. Organic 5.2. Conventional 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Process 6.1. Spray Dried Process 6.2. Sun Dried Process 6.3. Freeze Dried Process 6.4. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 7.1. Convenience Store 7.2. Specialty Store 7.3. Online Retailers 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. International Agriculture Group 16.2. Stawi Foods and Fruits Limited 16.3. Natural Evolution Limited 16.4. Made’s Co. 16.5. Pereg Gourmet Natural Foods 16.6. Kanegrade Ltd. 16.7. Banatone Food Industries 16.8. Slingan Pty Ltd. 16.9. Absolute Organic 16.10. NOW Health Group, Inc. 17. Assumptions & Acronyms Used 18. Research Methodology
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Green Banana Flour Market
