Banana Flour Market Size Worth $1,269.6 Million By 2028

Banana Flour Market Growth & Trends

The global banana flour market size is anticipated to reach USD 1,269.6 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.8% from 2021 to 2028. The market is predominantly driven by the growing awareness regarding the effect of gluten-free food intake associated on health. Banana flour has emerged as a viable alternative to wheat flour. Banana flour is manufactured by milling dried green bananas, resulting in flour with high resistant starch content.

Green banana flour is a gluten-free flour that bakes well. In most baking recipes, banana flour is used instead of ordinary flour. Banana flour is versatile enough to substitute for all-purpose wheat flour in practically any recipe. Banana flour has a low glycemic index, which means it doesn't cause blood sugar levels to surge. For Instance, Natural Evolution makes green banana baking flour from green Cavendish bananas grown on the Atherton Tablelands in tropical Far North Queensland, Australia. It's a nutrient-dense, light, natural, gluten-free flour.

Banana flour is commonly used as a gluten-free replacement for typical grain flour since it is high in nutrients including protein, potassium, and other essential elements. The manufacturers operating in the market such as Pereg Gourmet Spices, Dr. Food Banatone, Seawind Foods, Woodland Foods, Divine Foods, APKA Industries, Miski Organics, Saipro Biotech Private Limited, LiveKuna, Diana Foods, and Synergy Food Industries, among others have witnessed an increase in demand due to the COVID-19 pandemic.

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Banana Flour Market Report Highlights

• Based on nature, the conventional banana flour segment dominated the market and accounted for 88.0% revenue share in 2020. It is anticipated to witness a CAGR of 6.6% during the forecast period owing to the high demand for gluten-free flour from the food and beverage industry

• Based on processing, the spray/drum drying processing segment dominated the market and accounted for 41.7% of the revenue share in 2020. As this method features the fastest drying, speed, and spray drying process is widely used in the banana flour production

• Based on form, the ripen banana flour segment is expected to witness a CAGR of 7.3% from 2021 to 2028 owing to the increasing demand for ripening banana flour from infant food manufacturers

• Based on end-use, the food industry segment dominated the market with a share of 72.1% in 2020. Banana flour has a wide application in bakery and snacks, infant food, soup and sauces, fillings and dessert, and others that making it a dominant end-use segment in the market

• Based on the distribution channel, the indirect segment is expected to witness a CAGR of 7.7% from 2021 to 2028 due to the increasing popularity of the household recipes owing to their multiple health benefits

• Asia Pacific dominated the market and accounted for a revenue share of around 36% in 2020. The increasing demand for clean labels and healthy food products by the consumer are the major driving factors in the region. Pharmavite, the India-based fruit products manufacturer BanaTone offers banana powder for babies, a natural banana flour made from traditional green bananas

Banana Flour Market Segmentation

Grand View Research has segmented the global banana flour market based on nature, processing, form, end-use, distribution channel, and region:

Banana Flour Nature Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)

• Organic

• Conventional

Banana Flour Processing Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)

• Freeze Dried

• Spray/Drum Dried

• Sun Dried

• Others

Banana Flour Form Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)

• Ripen

• Unripen

Banana Flour End-use Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)

• Food Industry

• Beverages

• Retail/Household

• Others

Banana Flour Distribution Channel Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)

• Direct Sales

• Indirect Sales

  • Supermarkets & Hypermarkets

  • Grocery Stores

  • Online Retail

  • Others

Banana Flour Regional Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • U.K.

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia & New Zealand

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • GCC

  • South Africa

List of Key Players of Banana Flour Market

• Pereg Gourmet Spices

• Dr. Food Banatone

• Seawind Foods

• Woodland Foods

• Divine Foods

• APKA Industries

• Miski Organics

• Saipro Biotech Private Limited

• LiveKuna

• Diana Foods

• Synergy Food Industries