Banana Flour Market Expected to Grow at 4.2% CAGR by 2032
The market is projected to grow at a rate of 4.2% CAGR through 2032 with a projection value of USD 865 million. The Middle East and Africa (MEA) is the largest market for banana flour market and holds a 45% share in the global market. Conventional green banana flour is the largest in the product type segment and is valued at USD 435 Mn currently.
Predominantly driven by the gluten-free wave trending in the food and beverages industry, alternative flours such as banana four are slated to witness steadily growing popularity over the next few years. According to a recent market research intelligence on banana flour, Future Market Insights expects that rising consumption of green (cooking) banana and soaring demand for banana flour for dressings, condiments, and sauces will prominently drive the growth of banana flour over the forecast period.
The betterment in the market scenario with increasing adoption of banana flour in bakery and other end uses, will encourage the manufacturers and key businesses to be more innovative.
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While the demand for banana flour as a replacement for wheat flour has been consistently growing in the food and beverages industry, previous growth estimates failed to account for changes in cropping and consumption patterns witnessed in 2020 as a result of the Covid-19 pandemic. The most enduring effect of the pandemic on banana flour is in the form of small banana plantations increasing in several countries. This includes even countries like Saudi Arabia, where banana cultivation had hitherto been an almost alien concept.
Global Banana Flour Market: Competitive Landscape
The research report covers details about major players in the industry. It provides the readers with a brief profile of the key players. Some of the major companies mentioned in the report are Zuvii, NuNatural Inc., Diana Foods, NOW Health Group Inc., Paradisefrucht GmbH, Kanegrade Ltd, ADM Wild Europe GmbH & Co. KG, International Agriculture Group, Stawi Foods and Fruits Limited etc.
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Global Banana Flour Market: Segmental Analysis
- On the basis of distribution channel, direct channel is expected to reflect higher contribution to the growth of the global market. The indirect channel segment is expected to register a relatively higher CAGR of 4.2% during the forecast period
- On the basis of application, food industry leads the market with high market value. Moreover, the pet food and feed industry segment is projected to grow at a significant rate throughout the period of assessment
- In terms of source, conventional segment has a much higher market size and is expected to lead the global market during the forecast period. But organic source is projected to grow at a faster pace in the years to follow
- Based on region, MEA is expected to dominate the market with an estimated market value of over US$ 300 Mn by the end of 2027. Whereas North America is expected to register the highest growth rate to register a value CAGR of 6.5% during the forecast period
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Table Of Content
- Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis and Recommendations
1.4. Wheel of Fortune
- Market Introduction
2.1. Market Definition
2.2. Market Taxonomy
- Market View Point
3.1. Macro-Economic Factors
3.2. Value Chain
3.3. Opportunity Analysis
- Global Historical Market Analysis 2012–2016 and Forecast 2017–2027
- Global Banana Flour Market Historical Analysis 2012–2016 and Forecast, By Regions 2017–2027
- Global Banana Flour Market Historical Analysis 2012–2016 and Forecast 2017–2027, By Source
- Global Banana Flour Market Historical Analysis 2012–2016 and Forecast 2017–2027, By Application
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