Banana Powder Market size is estimated to be 934.1m in 2019, growing at a CAGR of 5.76% during the forecast period 2020-2025. Banana powder is formed by using banana pulp, which is mechanically chopped and then processed with hydraulic shear using a colloid mill, turning it into paste. Sodium metabisulfite is then used to brighten the yellow color of the paste. Moreover, they are used as a flavouring agent in various beverage and food industry. Growing population along with the rising demand of banana powder in food and beverage industry owing the preparation of various beverages such as smoothies and milkshakes is triggering its market growth. Apart, from this the use of banana powder in cosmetic industry is also fueling its market growth as it is used to color correct and give the skin a warm highlight, reduce shine, absorb excess oil, set makeup for longer wear and reduce the appearance of fine lines. Therefore, these are the key benefits driving the banana powder market in the upcoming years. Furthermore, banana powder provides several health benefits such as balancing blood sugar levels and a good source of important nutrients such as calcium, iron, B vitamin as well as protein and fibre.
By Application- Segment Analysis
By Application, the Banana Powder is segmented into Food Industry, Pharmaceutical Industry, Cosmetic Industry and Animal Feed Industry. Food Industry segment held the largest market share in the year 2019. This is owing to the wide usage of banana powder in beverages as well as in babies food products. Moreover, the banana powder helps in building immunity in babies as it is a power-packaged with potassium and other vital nutrients. In addition, it is easy to digest and helps in the development of a healthy brain in babies. Also, animal feed industry is projected to witness growth at fastest CAGR of 6.23% in forecast period 2020-2025. Dehydrated, green, milled banana have been successfully used as a source of starch in the preparation of calf feeds and especially in the manufacture of milk replacers. Moreover, a study was conducted in India to investigate the nutritive value of banana stalks for sheep. In this study, dried banana stalk replaced 0, 20, 40 and 50% para grass hay. The feeding trial lasted for 60 days and showed no detrimental effects on feed intake or the health of the animals in all the treatments. The weight gain increased up to 40% level of inclusion after which it started to decline.
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By Distribution Channel- Segment Analysis
Based on Distribution Channel the Banana Powder market is segmented into Supermarket, Hypermarket, Convenience stores, Online Retail, and others. Among these the convenience stores held the largest share offering large number of products to its customers in one place. Furthermore, the availability of beverages, milkshakes, protein supplements and babies’ products at convenience stores, a hypermarket is further contributing to its market growth.
Geography- Segment Analysis
APAC contributed to the largest market share of 37.1% owing to the presence of large dominant players in the region including Aarkay Food Products Limited, Babyvita India Food Products. Increasing demand of banana powder among consumers owing to its health benefits have highly supported its regional demand. North America banana powder market is another dominant market owing to the presence of Manna Foods. Moreover, Koyah offers organic banana powder containing just one ingredient- organic freeze-dried banana powder which cost $24.99.
Drivers – Banana Powder Market
Rising Demand of Banana Powder in Cosmetic Industry
Rising Demand of Banana Powder in Cosmetic Industry is a significant factor driving the Banana Powder market during the forecast period 2020-2025. Moreover, banana can be used for all skin types. Containing anti-ageing and antioxidant properties, a face mask would gently nourish, cleanse, exfoliate and moisturize ageing, acne-ageing prone, dry, and normal and combination skin. Bananas also known as nature botox, contains super-wrinkle fighting nutrients that help fade age spots and prevent fine lines and wrinkles from forming. Therefore, these are the key benefits propelling the demand of the banana powder in the future.
Increasing Use of Banana Powder In Beverage Industry
Increasing use of banana powder in beverage industry is a major driving the Banana Powder Market during the forecast period 2020-2025. Moreover, Nubana RS65 is a standalone superfruit powder that consumers add to their food and beverages, smoothies and milkshakes and powdered supplements offering several health benefits such as digestion, Satiety & fat-burning, low glycemic response, support healthy insulin sensitivity and support healthy blood sugar levels. Therefore, increasing health benefits offered by banana powder coupled the rising of banana powder in beverage industry is driving its market growth in the upcoming years.
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Challenges – Banana Powder Market
High Cost of Banana Powder
High Cost of Banana Powder serves as a major setback for the growth of the Banana Powder Market during the forecast period 2020-2025. Owing to its high cost the lower and middle people are unable to purchase it which in turn is restraining its market during the forecast period 2020-2025.
Banana Powder Market Industry Outlook
Product Launches, Merger & Acquistion, joint ventures and R&D activities are key strategies adopted by the players in Banana Powder Market. Banana Powder Market top 10 are Banatone Industries, Mevive International, Santosh Food Products, Naturalin Bio-Resources Co. Ltd, Aarkay Food Products Ltd, Babyvita India Food Products, NuNaturals Inc., Royal Nut Company and Urban Platter.
September 2017: International Agriculture Group launched Green Banana Flour containing 65% resistant starch, which has been shown to provide a broad range of health benefits dependent upon the amount consumed daily.
Food Industry segment held the largest market share in the year 2019 owing to the wide usage of banana powder in beverages as well as in babies food products.
The convenience stores held the largest share offering a large number of products to its customers in one place.
APAC contributed to the largest market share of 37.1% owing to the presence of large dominant players in the region including Aarkay Food Products Limited, Babyvita India Food Products.
Rising Demand of Banana Powder in Cosmetic Industry is a significant factor driving the Banana Powder market during the forecast period 2020-2025.
Related Reports :
A. Banana Puree Market
B. Protein Ingredients Market
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