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Banana Powder Market Trends

  • Report ID: GMI1634
  • Published Date: Mar 2024
  • Report Format: PDF

Banana Powder Market Trends

Notable trends in the banana powder industry are being driven by growing applications and health-conscious consumer demands. Banana powder is becoming more and more popular as a versatile additive in a variety of industries, such as food and beverage, cosmetics, and pharmaceuticals, as customers seek out natural and nutrient-rich components.
 

Technological developments in processing methods improve its quality and adaptability, and sustainability programs serve customers who care about the environment. The convenience, shelf stability, and variety of uses of banana powder are driving significant expansion in the market. Furthermore, as consumers become more health-conscious, there's a growing demand for clean-label products with minimal additives or preservatives, positioning banana powder as an attractive option due to its natural origin. Overall, these trends indicate a promising outlook for the market, with opportunities for innovation, market expansion, and product diversification to meet evolving consumer preferences and demands in developing countries.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of banana powder reached USD 1.21 billion in 2023 and is set to witness 6.2% CAGR from 2024 to 2032, led by technological innovations and R&D, alongside wider product applications across various industries, including food and beverage, cosmetics, pharmaceuticals, and animal feed.

Conventional banana powder segment held a dominant market value of USD 783.6 million in 2023 and expected to reach around USD 1.32 billion by 2023, owing to its high fruit yield, quick production, low funding requirements, high revenue, higher dependability, and effective land usage.

Asia Pacific market generated a revenue of USD 420 million in 2023, driven by rising consumer awareness about the health benefits of the product, such as its high potassium content and natural sweetness.

Aarkay Food Products Ltd, Banatone Industries, Chiquita Brands International, Inc, Del Monte Fresh, Dole Food Company, Inc, National Food N Spices, Naturalin Bio-Resources Co. Ltd, Naturya, Royal Nut Company, Safety Foods Pvt Ltd, Saipro, Saipro Biotech Pvt Ltd., Santosh Food Products, Taj Agro International are some of the major industry contenders.

Banana Powder Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 250
  • Countries covered: 21
  • Pages: 300
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