The global banana powder market reached a value of US$ 990.6 Million in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 7.60% during 2021-2026.
Banana is a sweet, edible fruit grown from a type of herbaceous flowering plant of the Musa genus. It is a rich source of various nutrients like potassium, proteins, manganese and vitamins B6 and C. As it has a relatively short shelf life, it is widely used processed into banana powder to minimize post-harvesting losses.
The global banana powder market is primarily driven by the widespread applications of banana powder in numerous end use industries. In the food and beverage industry, it is widely used to prepare cakes, infant food, cookies and biscuits, smoothies, and ice cream. It is also highly beneficial as a substitute for fresh bananas in the preparation of banana-flavored snacks, crackers, and crisps.
Banana powder is also used to treat indigestion, anemia, diarrhea, stomach ulcers and malnutrition in children. Along with this, the changing consumer preferences toward natural food ingredients that support a healthy lifestyle is propelling the market growth.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The report has segmented the market on the basis of End-Use, and Region.
Performance of Key Regions
1. North America
2. Asia Pacific
4. South America
5. Middle East and Africa
Market by End-Use
1. Food Industry
2. Feed Industry
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of the leading players operating in the market are:
Chiquita Brands International Sàrl (NYSE:CQB)
Fresh Del Monte Produce Inc. (NYSE: FDP)
Dole Food Company, Inc.
Grupo Noboa S.A.
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