2022-2088 is the forecast period in the market report.
The North American banana flour market will be seen significant growth over the forecast period due to increasing demand and consumption in various applications. Banana flour is undoubtedly a rich source of various mineral salts such as calcium, sulphur, magnesium, iron and potassium. It also contains a commendable amount of resistant starch, vitamins C and B6. Using banana flour in your diet instead can provide many health benefits. Bananas help metabolize carbohydrates, fats, and amino acids in the body. Subsequently, it helps to increase the overall energy of the person. Additionally, the manganese in banana flour increases collagen production in your body. Therefore, it protects the skin and cells from free radical damage. Additionally, banana flour is a beneficial all-purpose alternative to flour, especially for those on a nutritious diet. Banana flour is made by drying ripe and fresh bananas using various techniques such as sun drying, osmosis, oven etc. The increased demand for gluten-free food products around the world is acting as one of the main factors driving the growth of the market. The high use of the product in the production of various applications, such as confectionery, fillings and condiments, baked goods and snacks and infant feeding is a key factor which is anticipated to provide ample of new growth opportunity for the market.
The constantly changing food trends in North America coupled with a healthy lifestyle will drive market growth across the region. The growth is also driven by the gluten-free wave trending in the food and beverages industry, Increasing the popularity of alternative flours will boost the market growth.
Banana flour is becoming more and more popular all over the world. Many renowned chefs and bakers are experimenting with flour to create unique, delicious, and healthy recipes. The banana flavor adds a sweet smell and taste to food. As a result, people's awareness of the benefits of using banana flour is also growing. These factors offer opportunities for the expansion of the Banana Flour market. In addition, increasing consumer awareness of the functional superiority of banana flour for resistant starch (which offers a wide range of benefits to gut health) over other sources of RS will boost the market growth. Another driving factor is that banana is the most grown tropical fruit in the world and less prone to damage from environmental changes. Moreover, consumption is boosted due to its nutritional potential and physiological benefits to human health. These are some potential factors that will drive the market growth in the North America region over the forecast period.
Certain factors may slow the growth of the Banana Flour market. This flour may not always be easily accessible to people as it is not available in most local stores and supermarkets. Also, banana flour can cost a little more than wheat and all-purpose flour. In addition, the drying process of banana flour will alter the final quality of bread and its nutrition’s. Therefore, these factors are expected to hinder the growth of the market during the forecast period.
Certain factors can pose a challenge for banana flour companies. With the growing popularity of banana flour, various substitutes are also entering the market. In addition, many new companies are offering low-cost flours, which increases competition in the world market. Therefore, these factors can challenge banana flour producers.
The report provides in-depth analysis of North America Banana Flour market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for banana flour in various applications has led the increasing demand for market and is expected to witness the growth at a specific CAGR from 2021-2028.
The North America Banana Flour market comprises of different market segments like process, source, form, distribution channel, end users and country.
By process, the Banana Flour market includes the key segments of
The spray dried segment is expected to dominate the market over the forecast period. This method has the fastest drying speed. The spray drying process has been adopted as a powder production method due to its ability to produce a reliable and consistent product with accurate quality and specifications. It provides both stability and ease of use in products such as homemade ready-to-drink beverages or used in any product that requires fruit solids, including desserts, yogurt, infant formula, pharmaceuticals, etc.
On the other side, freeze drying is expected to witness significant growth. The freeze-drying process offers the flexibility to remove moisture content and preserve almost any fruit or vegetable.
By source, the Banana Flour market is segmented into
The organic segment is expected to maintain its dominance over the estimated time period. With the growing consumer preference for clean labeled products with good nutritive value, the demand for organic products has increased significantly. Banana flour made with organic ingredients is becoming more and more popular with consumers looking for products that are free of chemicals and pesticides. Banana flour producers also work closely with suppliers or farmers to understand the quality of the bananas used to produce the flour. Market demand is expected to be affected by the demand for organic banana flour. The demand for banana flour is increasing worldwide as banana plants and fruits are known for their health benefits as they are nutritious and serve as a good source of fiber, resistant starch, vitamin A, vitamin B6, vitamin C, and potassium. Likewise, the conventional segment is likely to grow at a steady rate over the forecast period.
By form, the Banana Flour market is segmented into
The unripe banana flour segment is expected to dominate the market. Bananas are grown in more than 1000 different varieties around the world. Bananas, both green and yellow, contain many different nutrients. Unripe bananas contain a lot of potassium, vitamin B6, and vitamin C, among other things. They are made up almost entirely of carbohydrates, with very little protein and fat. Stage 1 of banana ripening is most commonly used in the production of green banana products because it contains many antioxidant chemicals, a high starch content and a low sugar content.
These properties are needed to promote health benefits, which could lead to the classification of banana flour as a functional food. Green bananas can help keep intestinal bacteria healthy. It can also produce short-chain fatty acids, which are important for digestion. These driving factors are expected to propel the expansion of the immature segment in the market over the coming years. Due to the increasing use of flour in the manufacture of baby food, the ripe banana flour segment is expected to register the highest CAGR during the forecast period.
The Banana Flour market has distribution channels like
Indirect sales include retail sales of banana flour through hypermarkets, supermarkets, grocery stores, online sources and other retail channels. Direct sales is expected to find increasing demand in the market over the forecast period. Banana flour has found various applications in the food, beverage, pet food and feed industries, nutraceuticals, pharmaceuticals and other end-use sectors. Banana flour is becoming a gluten-free alternative for food and beverage manufacturers around the world. Banana flour is emerging as an important ingredient in baked goods, sweets and desserts. Food and beverage manufacturers use flour as an ingredient in the products they produce. End users purchase it in large quantities for use in many foods and beverages. As a result, direct sales have become an important part of the market.
However, the indirect sales segment is expected to grow significantly over the forecast period due to the increased use of banana flour in households for the preparation of various dishes and recipes.
The Banana Flour market has major end users like
The food industry segment is expected to dominate the market over the forecast period. Banana flour has found various uses in the food industry as it is used as an alternative gluten-free wheat flour. Banana flour is actively used in the baking industry to create natural gluten-free and nut-free products for health-conscious consumers. Green banana flour is now used to make pasta dishes healthier and more nutritious. Bread, as the most consumed bakery product in the world, presents a great opportunity to use banana flour to strengthen bread and improve its nutritional benefits. Banana flour can be used daily as a dietary supplement, simply adding it to smoothies, yogurts, or other products to reap its nutritional benefits.
The retail/household segment is expected to register the highest CAGR during the forecast period. Banana flour becomes a nutritious and healthy alternative to other cereal flours such as wheat, barley, corn, rice, etc. Consumers in Africa, Latin America and Asia have traditionally consumed banana flour using the traditional sun-drying process. Consumers use banana flour in their recipes for its health benefits.
The North America Banana Flour market is studied for the following Countries
The United States is expected to dominate the market over the projected time period. as it has observed strong demand for banana flour as the product is widely used for infant feeding. The product is widely consumed in the country due to its increasing use in baked goods such as pastries, cakes, and others. The increasing popularity of gluten-free diets among Gen Z consumers has gained immense coverage because of their reported health benefits, such as weight loss and increased energy. The consumption of banana flour also prevents celiac disease.
By the study report by Civic Science, the increasing number of gluten-free foods, 38% of adults between the ages of 18 and 24 and 30% of those between 25 and 34 are interested in trying to eat gluten-free foods. In contrast, only 13-14% of adults older than 35 want to do the same. These are some factors that are attributable to the market growth in the United States.
Axiom MRC provides a 360-degree analysis of micro and macro-economic factors in the North America Banana Flour market. In addition, a complete analysis of changes in the North America Banana Flour market expenditure, and economic and international policies on the supply and demand side is provided in this exclusive report. The report also studies the impact of a pandemic on North American economies, international trade, business investments, GDP, and marketing strategies of key players present in the market.
The COVID-19 pandemic has impacted all sectors. However, the food industry is the hardest hit. The pandemic has disrupted the food industry, including the Banana Flour market. Although demand for gluten-free products like banana flour has increased, government-imposed lockdowns and shutdowns in the supply chain and manufacturing have reduced production levels of banana flour in the market. Additionally, consumer awareness of health and a better immune system provides lucrative opportunities for the market. Health and healthy foods like banana flour have become a priority for consumers. Therefore, the impact of COVID-19 on the banana flour market ranges from minor to moderate.
The competitive landscape analysis of the Banana Flour market is majorly focused on expanding the North American growth of banana flour industry with new product innovation, business expansion, increasing presence of range of manufacturers operating in the banana flour sector has led the growing demand for the market. Besides, the market offers range of products in different application to fulfil the required demand of consumer which is further contributing healthy growth in the market.
The key players studied in market are
May 2019: International Agriculture Group has Lunched NuBana, a flour made from green bananas that is highly nutritious and environmentally friendly.
By process, the Banana Flour market includes the key segments of freeze-dried, spray-dried, sun-dried, and others. The spray-dried segment is expected to dominate the market over the forecast period. By source, the Banana Flour market is segmented into organic and conventional. The organic segment is expected to maintain its dominance over the estimated time period. By form, the Banana Flour market is segmented into ripen and unripe. The unripe banana flour segment is expected to dominate the market over the forecast period. The Banana Flour market has distribution channels like direct sales and indirect sales. Direct sales are expected to find increasing demand in the market over the forecast period. The Banana Flour market has major end users like the food industry, beverages, retail/household, and others. The food industry segment is expected to dominate the market over the forecast period.
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What would be the forecast period in the market report?
2022-2088 is the forecast period in the market report.
What are the drivers for the Banana Flour market?
The key driving factors of the market are increasing health-conscious among consumers and the rise in advanced manufacturing techniques.
Which Country is gaining the majority of market share during the forecast period (2021-2028)?
The United States is expected to gain a major market share during the forecast period (2021-2028).