Global Banana Flour Market to Grow at a CAGR of 4% During 2024-2032, Aided by the Rising Demand for Gluten-Free Food Products

The global banana flour industry is primarily being driven by the health benefits of the product and the rising demand for gluten-free products. The banana flour industry is also being supported by the baking industry. Banana flour is a healthy alternative to all-purpose flour, giving better results than the latter. Banana flour can be used directly without it being blended with anything. It is becoming increasingly popular in the baking industry as a baking agent as it helps provide a grainy, light, and fluffy texture to baked goods.

North America is one of the leading markets for banana flour. The industry in the region is booming, especially due to the rising awareness among the health-conscious consumers. The market is also being driven by the rising adoption of the flour by people on weight-loss diets. Recently, the FDA listed RS as a dietary fibre from banana flour. The rising occurrence of celiac disease in the region is also propelling the growth of the banana flour industry as it is widely marketed as a gluten-free alternative to wheat flour.

The overall banana flour industry is expected to be driven by the rising demand for organic food ingredients. As the product is commonly available on various distribution channels, including online retailers like Amazon.com, Inc. (NASDAQ: AMZN) and hypermarkets like Walmart Inc (NYSE: WMT), the sales of the product is also witnessing a boost with the growing penetration of these retail giants into emerging markets.

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Market Analysis by Source, Process, Application, End Use, Distribution Channel, and Region:

• The major sources of banana flour are organic and conventional.

• The processes involved in the production of banana flour include freeze dried, spray dried, and sundry, among others.

• Banana flour finds wide applications in food and beverage, feed industry, and others. 

• The end-uses of the product include commercial use and residential use.

• The leading distribution channels in the industry can be segmented into direct sales and indirect sales. 

• The major regional markets for banana flour include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The market is being driven by the rising application of the product in the food industry, particularly in the bakery segment.

• The industry is being supported by the rising preference of the health-conscious consumers for banana flour.

• The product’s various nutritional and health benefits are expected to continue to catalyse the market in the coming years.

• The rising demand for gluten-free products is further projected to aid the growth of the market in the coming years.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for banana flour for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the sources, processes, applications, end uses, distribution channels, and major regions of banana flour.

• It also provides detailed regional price trends of the product for the periods (2018-2023) and (2024-2032).

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global banana flour market are Natural Evolution, International Agriculture Group, and Ceres Enterprises Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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