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Global Banana Powder Market Share, Analysis, Forecast: By Source: Organic, Conventional; By Process Type: Freeze Dried, Spray Dried, Others; By Sales Channel: Direct sales, Indirect sales; By End Use: Food Industry, Feed Industry, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Global Banana Powder Market Outlook
The global banana powder market stood at a value of more than USD 1,188.69 million in 2023 and expected to grow at a CAGR of 5.8% in the forecast period of 2024-2032.
Increased Use in the Food Industry to Support the Market Growth of Banana Powder
The market is currently being driven by the growing product demand in the food industry as banana powder is largely used in confectionery applications for the production of cakes, breads, pastries, and ice cream preparations, among others. In addition, banana powder also finds usage in infant food products, as it is easy to digest and is rich in potassium and other nutrients. Meanwhile, the demand for banana powder is also growing in animal feed preparations with the expanding livestock population worldwide.
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The Asia Pacific to Provide Lucrative Growth Opportunities for the Market Expansion of Banana Powder
The Asia Pacific region is expected to account for a significant share of the global market for banana powder. This can be associated with the increased availability of bananas in the region, with India being the largest producer of bananas in the world, accounting for a total production volume of around 31.5 million tonnes in 2020. The increased demand for bananas across industry verticals is anticipated to support the market growth in the coming years. Meanwhile, the North America market for banana powder is anticipated to witness a considerable growth in the coming period, with the rising awareness regarding the availability and benefits of banana powder among consumers.
Market Segmentation
Banana powder is manufactured from fully ripened banana fruits either through drum drying or spray drying process. Processing of bananas into banana powder increases their shelf life to more than 6 months, provides the ease of transportation, and facilitates proper utilisation of bananas.
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By source, the market is divided into:
- Organic
- Conventional
On the basis of process type, the industry can be categorised into:
- Freeze Dried
- Spray Dried
- Others
Based on sales channel, the market can be bifurcated into:
- Direct Sales
- Indirect Sales
The market, on the basis of end use, can be segregated into:
- Food Industry
- Feed Industry
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Growing Consumer Demand for Healthy Food to Augment the Market Growth of Banana Powder
The market is being aided by the rising consumer focus on health enhancing food to improve digestion, immunity, and overall physical health. Banana powder is a rich source of carbohydrates, antioxidants, and essential vitamins. Further, banana powder is also used in place of bananas in various recipes due to its ease of use and convenience. Another major factor supporting the market growth is the improved shelf-life of the product and reduced post-harvest losses of bananas. In addition, the increased utilisation of banana powder to prepare cosmetic products is anticipated to propel the market growth in the forecast period. For instance, major cosmetics manufacturers such as Maybelline have launched banana-based setting powders, which help set the make-up effectively and also provide a matte finish. Furthermore, the growing research activities in analysing the use of banana powder in the pharmaceutical sector are expected to create lucrative growth opportunities for the market in the forecast period.
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Key Players in the Global Banana Powder Market
The report gives a detailed analysis of the key players in the global banana powder market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model and SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Source |
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| Breakup by Process Type |
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| Breakup by Sales Channel |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Banana Powder Market Analysis
8.1 Key Industry Highlights
8.2 Global Banana Powder Historical Market (2018-2023)
8.3 Global Banana Powder Market Forecast (2024-2032)
8.4 Global Banana Powder Market by Source
8.4.1 Organic
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Conventional
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.5 Global Banana Powder Market by Process Type
8.5.1 Freeze Dried
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Spray Dried
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Others
8.6 Global Banana Powder Market by Sales Channel
8.6.1 Direct sales
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Indirect sales
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.7 Global Banana Powder Market by End Use
8.7.1 Food Industry
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2023)
8.7.1.3 Forecast Trend (2024-2032)
8.7.2 Feed Industry
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2023)
8.7.2.3 Forecast Trend (2024-2032)
8.7.3 Others
8.8 Global Banana Powder Market by Region
8.8.1 Market Share
8.8.1.1 North America
8.8.1.2 Europe
8.8.1.3 Asia Pacific
8.8.1.4 Latin America
8.8.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Price Analysis
12.1 North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
12.2 Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
12.3 Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
12.4 Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
12.5 Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players Market Share
13.3 Company Profiles
13.3.1 Company Overview
13.3.2 Product Portfolio
13.3.3 Demographic Reach and Achievements
13.3.4 Financial Summary
13.3.5 Certifications
14 Events and Developments
Additional Customisations Available
1 Manufacturing Process
1.1 Detailed Process Flow
1.2 Operations Involved
1.3 Mass Balance
2 Project Details, Requirements and Costs Involved
2.1 Land Requirements and Expenditures
2.2 Construction Requirements and Expenditures
2.3 Plant Layout
2.4 Plant Machinery
2.5 Machinery Pictures
2.6 Raw Material Requirements and Expenditures
2.7 Raw Material and Final Product Pictures
2.8 Packaging Requirements and Expenditures
2.9 Transportation Requirements and Expenditures
2.10 Utility Requirements and Expenditures
2.11 Manpower Requirements and Expenditures
2.12 Other Capital Investments
3 Loans and Financial Assistance
3.1 Project Economics
3.2 Capital Cost of the Project
3.3 Techno-Economic Parameters
3.4 Product Pricing and Margins Across Various Levels of the Supply Chain
3.5 Taxation and Depreciation
3.6 Income Projections
3.7 Expenditure Projections
3.8 Financial Analysis
3.9 Profit Analysis
List of Key Figures and Tables
1. Global Banana Powder Market: Key Industry Highlights, 2018 and 2032
2. Global Banana Powder Historical Market: Breakup by Source (USD Million), 2018-2023
3. Global Banana Powder Market Forecast: Breakup by Source (USD Million), 2024-2032
4. Global Banana Powder Historical Market: Breakup by Process Type (USD Million), 2018-2023
5. Global Banana Powder Market Forecast: Breakup by Process Type (USD Million), 2024-2032
6. Global Banana Powder Historical Market: Breakup by Sales Channel (USD Million), 2018-2023
7. Global Banana Powder Market Forecast: Breakup by Sales Channel (USD Million), 2024-2032
8. Global Banana Powder Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Banana Powder Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Banana Powder Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Banana Powder Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Banana Powder Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Banana Powder Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Banana Powder Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Banana Powder Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Banana Powder Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Banana Powder Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Banana Powder Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Banana Powder Market Forecast: Breakup by Country (USD Million), 2024-2032
20. North America Historical Price Trends and Forecast 2018-2028
21. Europe Historical Price Trends and Forecast 2018-2028
22. Asia Pacific Historical Price Trends and Forecast 2018-2028
23. Latin America Historical Price Trends and Forecast 2018-2028
24. Middle East and Africa Historical Price Trends and Forecast 2018-2028
25. Global Banana Powder Market Structure
Key Questions Answered in the Report
The global banana powder market reached a value of USD 1,188.69 million in 2023.
The market is projected to grow at a CAGR of 5.8% during the forecast period of 2024-2032.
By 2032, the market is estimated to reach a value of USD 1,974.43 million.
The key drivers of the market include rising disposable incomes, increasing population, increasing adoption of the product due to its longer shelf life and ease of use, and rising consumption of processed foods.
The incorporation of banana power in various cosmetics items and the growing shift towards organic products are the major trends that are expected to influence the market growth positively.
Asia Pacific is the leading region in the global market. North America, Latin America, the Middle East and Africa, and Europe are the other major regions in the market.
The leading sources of the product in the market are organic and conventional sources.
The significant process types through which banana powder is produced include freeze and spray dried processes.
Direct and indirect sales are the most significant sales channels in the market.
Food sector accounts for the largest share of the market, in terms of end-uses.
Analyst Review
The global banana powder market attained a value of USD 1,188.69 million in 2023 driven by the rising consumption of processed foods. Aided by the increasing demand for organic banana powder, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 5.8%. The industry is projected to reach USD 1,974.43 million by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of source, the market is divided into organic and inorganic. Freeze dried and spray dried are the major processes through which banana powder is produced. Based on sales channel, the industry is bifurcated into direct and indirect sales. On the basis of end-uses, the food industry accounts for the largest share in the market. The major regional markets for the product are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with the Asia Pacific accounting for the largest share of the industry.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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