According to the research report, the banana flour market will witness a growth of 3.1% at a CAGR of 5.21%

This banana flour market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers flour market segmentation by application (food, beverages, and others) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The banana flour market report also offers information on several market vendors, including Banamin Healthcare LLP, Blue Lily Organics LLC, Ceres Enterprises Ltd., Diana Food SAS, Divine Foods, Edward and Sons Trading Co., International Agriculture Group, Kadac Pty Ltd., Kanegrade Ltd., Miski Organic Superfoods Inc, M-Pak, Natural Evolution Pty Ltd., NOW Health Group Inc., NuNaturals Inc., Paradiesfrucht GmbH, Pereg Gourmet Spices, Seawind International, Slingan Pty Ltd., Synergy Food Industries, and Woodland Foods Ltd. among others.

What will the Banana Flour Market Size be During the Forecast Period?

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Banana Flour Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post-COVID-19 era. The increase in the production of unripe bananas is notably driving the banana flour market growth, although factors such as costly substitutes may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Banana Flour Market Driver

One of the key factors driving the banana flour market growth is the increase in the production of unripe bananas. Banana production accounts for approximately 17% of the total global fruit production and is the second-largest fruit produced after citrus fruits. Owing to excess banana production, large volumes of bananas are wasted annually. Therefore, the food industry is undertaking various measures to increase utilization and process excess stock into products such as banana flour. In India, about 30% of the 16.8 million tons of bananas produced annually are wasted due to post-harvest damage and losses. Banana flour is an excellent solution to this problem. Various vendors are taking advantage of this problem and processing this excess stock into banana flour. Consumers prefer unripe owing to its texture and nutrient content. Thus, the utilization of excess stock of unripe bananas for processing into banana flour is expected to drive growth in the market during the forecast period. Moreover, unripe banana flour is witnessing a high demand as it is rich in resistant starch; therefore, a lesser quantity can match the fiber content in regular flour.

Key Banana Flour Market Trend

Another key factor driving the banana flour market growth is the increasing adoption of banana flour in the baking industry. Owing to the high insoluble fiber content in banana flour, about 30% lesser flour is required in food preparation than regular flour. Therefore, it is becoming popular in baked goods production on its own or in combination with other flour. In the baking industry, wheat flour is increasingly being replaced, among other substitutes. Banana flour is gaining wide acceptance in the preparation of brownies, cookies, or waffles. Banana flour has a mild undistinguishable banana flavor. Moreover, it imparts a light, fluffy texture to the batter or dough, which is suitable for baked products. Thus, the increasing adoption of banana flour owing to its beneficial characteristics is expected to drive growth in the market during the forecast period.

Key Banana Flour Market Challenge

Costly substitute is one of the key challenges hindering the banana flour market growth. Banana peel constitutes 40% of the weight of a banana, but this goes unutilized. Producing banana flour from green bananas is a costly process. Therefore, it is an expensive substitute compared with other common grain-based flour. They can be used on their own and do not need to be blended with other flour. Wheat or corn flour is more popular among consumers than banana flour. Wheat flour is a cheaper alternative to banana flour as it is produced in abundance; therefore, it is a staple in most households. Currently, is priced higher than other gluten-free flour on the market. Therefore, corn, wheat, and white rice flour are more commonly used in the production of cookies, noodles, cakes, and energy bars. For bulk production in restaurants and giant food chains, chefs prefer inexpensive flour and, therefore, grain-based flour is used. These factors pose a challenge to growth in the banana flour market.

This banana flour market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global banana flour market as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the banana flour market during the forecast period.

Who are the Major Banana Flour Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

• Banamin Healthcare LLP
• Blue Lily Organics LLC
• Ceres Enterprises Ltd.
• Diana Food SAS
• Divine Foods
• Edward and Sons Trading Co.
• International Agriculture Group
• Kadac Pty Ltd.
• Kanegrade Ltd.
• Miski Organic Superfoods Inc
• M-Pak
• Natural Evolution Pty Ltd.
• NOW Health Group Inc.
• NuNaturals Inc.
• Paradiesfrucht GmbH
• Pereg Gourmet Spices
• Seawind International
• Slingan Pty Ltd.
• Synergy Food Industries
• Woodland Foods Ltd.

This statistical study of the banana flour market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying growth strategies such as pricing and marketing strategies to compete in the market.

Product Insights and News

• Ceres Enterprises Ltd.- The company offers such as green banana flour, a great source of resistant starch, with almost 60 percent dietary fiber, and zero sugar.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The banana flour market report contains comprehensive market knowledge and an in-depth vendor landscape add-on to an analysis of the key vendors.

Banana Flour Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain, and parent market of the banana flour market which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.

Which are the Key Regions for Banana Flour Market?

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38% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets in North America. Market growth in this region will be faster than the growth of the market in the Europe and MEA regions.

Owing to a growing consumer shift toward healthy lifestyles will facilitate the banana flour market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the COVID-19 outbreak significantly changed the fundamentals of the banana flour market in North America, including customer behavior, business revenues, and numerous aspects of corporate operations. The agriculture segment witnessed a sharp drop in demand in 2020 due to the imposition of the lockdown in the region. This negatively affected the logistics industry, thereby weakening the supply chain network in North America. This hindered the growth of the market in focus. Also, most buyers preferred the online purchase of food products, which hindered the demand for banana flour in offline stores. However, owing to the introduction of vaccines to mitigate the threat posed by COVID-19, the regional market is expected to grow during the forecast period.

What are the Revenue-generating Application Segments in the Banana Flour Market?

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The banana flour market share growth in the food segment will be significant during the forecast period. The demand for banana flour is increasing due to its health benefits and is expected to rise further during the forecast period. The launch of new products containing banana flour as an ingredient will also increase its demand during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the banana flour market size and actionable market insights on the post-COVID-19 impact on each segment.

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What are the Key Data Covered in this Banana Flour Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive banana flour market growth during the next five years
• Precise estimation of the banana flour market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the banana flour industry across North America, Europe, APAC, South America, and the Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of banana flour market vendors

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