Banana Flakes Market

Global Market Study on Banana Flakes: Usage in Infant Nutritional Products Rising

Market Snapshot

The global banana flakes market is projected to expand 1.7X over the next ten years and be valued at US$ 780 Mn by 2031. Rising demand for organic, gluten-free, and nutritional products is expected to drive demand for banana flakes over the decade.

Find Out More about the Report Coverage

Companies

  • Om Foods Inc
  • Z Natural Foods
  • Van Duren Farms
  • Orkla Group
  • RaelerFruchtchips GmbH
  • Symrise
  • Seawind International LLC
  • Johs. Thoms GmbH & Co. KG
  • Tradal BrazilNutritional Designs, Inc.
  • Futurcorp S.A.
  • Cosmo Foods
  • Agro America
  • VINJ-Food
  • Dermasal
  • Others (On Additional Request)

Report Also Addresses:

  • Market estimates and forecast 2016-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Banana Flakes and How to Navigate
  • Recommendation on Key Winning Strategies

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Historical Demand for Banana Flakes Vs Market Projections for 2021 to 2031

From 2016 to 2020, the banana flakes market experienced a value growth of 4.0% CAGR. Sales of banana flakes were high in the food processing industry, accounting for almost 50% market share.

Banana flakes are widely used in the processed form in the food industry. Easy storing capacity and longer shelf life increase the use of banana flakes in the food industry for application in yogurts, smoothies, shakes, oatmeal, and others. The benefit of consuming organic banana flakes is stated to be helpful by adding them to beverages and baked foods.

There is increasing use of banana flakes in the nutraceutical segment owing to their high nutritional value. The trend for organic consumption is also expected to propel demand for banana flakes in the food industry.

Sales of banana flakes are anticipated to reach around US$ 780 Mn by the end of 2031, with the market expanding at around 5.5% CAGR through 2031.

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Will Growing Consumer Preference for Organic Products Drive Demand for Banana Flakes?

Global demand for organic food products has inclined since the last decade, which shows the change in consumer behavior towards organic food. Organic food relates to consumer health, which impacts the food and beverage market.

Nowadays, customers are becoming more apprehensive with how food is being processed and prepared, and are seeking healthy food, which reflects in the demand for organic and sustainable food processing. The trend of consuming healthy and being fit is rising, which drives consumers toward organic foods. Demand for organic food shows potential growth for organically processed banana flakes.

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What Will Be the Impact of Increased Demand for Nutritional Products on Banana Flake Sales?

The nutraceutical segment is anticipated to expand at a value CAGR of around 6.5%. Banana flakes carry an ample amount of nutritional value such as vitamins.

Rich in nutritional value makes banana flakes the recommended product for consumers who are health concerned. Comprised values in banana flakes such as minerals, potassium, magnesium, and nutrients such as A, B, B6, B9 make them a highly demanded food product.

How is Demand for Gluten-free Food Anticipated to Enhance Sales of Banana Flakes?

Consumers are inclining more toward natural food products these days. Increased incidence of celiac diseases and IBS is anticipated to drive demand for gluten-free products, especially in developing regions.

Banana flakes, being a gluten-free product, may witness growth owing to their health benefits such as reduction in chronic inflammation and benefits in digestive health. With rising numbers of diet-conscious customers worldwide, demand for gluten-free products will grow over the coming years.

What are the Challenges Faced by Manufacturers of Banana Flakes?

Ready-to-eat cereal-based food products such as oats, corn, rice, and wheat flakes have excellent nutritional values and properties, which are essential for the proper working of the body. For instances, corn, wheat, and other flakes are rich in iron and vitamin. Oat flakes have soluble fiber, antioxidants, and carbohydrates.

These products are acting as substitutes to banana flakes and are gaining popularity among consumers. Moreover, easy availability of these alternate flakes in the market may slow down demand for banana flakes and restrain overall market growth.

Bananas and by-products of bananas provide an excessive source of potassium and other nutrients. Greater amount of nutrients may affect the balance in the human body. Higher consumption of banana flakes may lead to infections and. Existence of Salmonella bacteria in banana products can result in fatal infections, especially in elder people and young children.

Furthermore, excess use of banana products in the diet is related to typhoid and gastroenteritis, which may restraint the growing market of banana flakes.

banana-flakes-market

Country-wise Analysis

Why Does Germany Hold a Significant Share for Banana Flakes in the European Market?

Germany is among the largest banana flake consuming country in Europe and accounts for almost 12% market share. Germany largely imports its bananas from major banana-producing countries for further processing into various banana-based products.

In Germany, banana flakes are largely utilized in the food processing industry along with the foodservice industry. Demand for banana flakes in the nutraceutical segment is anticipated to grow over the next decade. Market value in the year 2021 is expected to be around US$ 17 Mn, expanding at a value CAGR of more than 6%, owing to increased demand for nutraceutical products in the country.

Will India Be a Lucrative Market for Banana Flake Manufacturers?

Banana flake consumption is anticipated to expand at a value CAGR of around 8% in India. Sales are anticipated to grow prominently attributed to speedy growth of the food & beverage sector and demand for organic food in the country.

Increasing demand for nutritional and healthy food products from health-concerned consumers is a major factor driving banana flake consumption in India.

Banana flake manufacturing companies in the country are also exporting to developed countries. Changing behavior of consumers toward a healthy lifestyle by consuming healthy ingredients in the diet is anticipated to fuel demand for banana flakes over the next few years. Additionally, large population in the country is expected to drive demand for banana flakes with rising demand for infant food and organic food.

Category-wise Insights

How is Rising Demand for Bakery and Confectionery Products Increasing Sales Opportunities for Banana Flake Suppliers?

The use of banana flakes is in bakery and confectionery is expected to increase at a value CAGR of 4.7% globally. Dehydrated banana flakes, traditionally used in clinical settings, carry a six-month shelf-life, making them an excellent pantry staple. Banana flakes are an important ingredient for various fruit-based food products, as major players in the bakery industry are utilizing banana flakes for enhancing the flavor, texture, and taste of products.

The amount of starch and simple sugar present in banana flakes is ideal as a complete nutrient replacement for granulated sugar. Moreover, these properties are useful in creating a better base for pancakes, bread, pudding, and cheesecakes.

Will High Demand for Infant Nutrition Products Boost Sales of Banana Flakes?

The infant nutrition segment in the banana flakes market is expected to rise at a CAGR of close to 6% globally. There are several segments under the food and beverages industry that demand banana flakes, and one of them are infant nutrition food products.

Bananas and their by-products are among the great foods for infants, due to the loaded essential nutritional values. Availability of good source fibers, vitamins, potassium, and manganese is a plus point.

Bananas consist of no fat and are low in calories with a high level of vitamin B6 and fiber, which is considered essential for a baby while growing. Bananas are the healthiest of all fruits, with a high level of antioxidants present, which protects children against all chronic diseases. With so many health benefits, banana flakes are widely used for making infant nutrition food products.

What is the Impact of COVID-19 on the Market?

COVID-19 impacted the demand for banana flakes, with supply chain disruptions ban on import and exports. The consumption of banana flakes is growing at around 5.5% annually. A sudden surge in demand for products with high nutritional value created a mild demand-supply gap in the first quarter of 2020. However, manufacturers soon caught up with the elevated demand. With disrupted distribution, manufacturers also increased their distribution reach to online channels.

Competition Landscape

Persistence Market Research has profiled the following prominent banana flake manufacturers in its report:

  • Om Foods Inc
  • Z Natural Foods
  • Van Duren Farms
  • Orkla Group
  • Raeler Fruchtchips GmbH
  • Symrise
  • Seawind International LLC
  • Johs. Thoms GmbH & Co. KG
  • Tradal Brazil
  • Nutritional Designs, Inc.
  • Futurcorp S.A.
  • Cosmo Foods
  • Agro America
  • VINJ-Food
  • Dermasal

Manufacturers offering banana flakes are expected to witness demand majorly from South Asia and East Asia. They are focusing on increasing production capacity as well as research & development activities for the development of products to unveil the nutritional benefits of banana flakes.

Companies such as Symrise, Van Duren Farms, Seawind International LLC, and others are focusing on offering high quality banana flakes for various end-use industries.

  • In 2019, Orkla Group completed the acquisition of Confection by Design (CBD), based in Harrogate, U.K. Orchard Valley Foods has a longstanding relationship with Confection by Design, acting as an exclusive distributor to selected markets. This strengthened the company’s position as a global supplier of confectionery-based inclusions and decorations.
  • In 2019, Diana Food opened an R&D facility in Quebec City. The facility is near Diana’s Consumer Health plant, and will allow the easy transfer of knowledge and technology. The center is close to Quebec’s little fruits-producing region, providing quick access to fresh and natural resources.

Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & Tons Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East & Africa

Key Countries Covered

  • US
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Poland
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Vietnam
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • South Africa

Key Segments Covered

  • Nature
  • End Use
  • Distribution Channel
  • Region

Key Companies Profiled

  • Om Foods Inc
  • Z Natural Foods
  • Van Duren Farms
  • Orkla Group
  • Raeler Fruchtchips GmbH
  • Symrise
  • Seawind International LLC
  • Johs. Thoms GmbH & Co. KG
  • Tradal Brazil
  • Nutritional Designs, Inc.
  • Futurcorp S.A.
  • Cosmo Foods
  • Agro America
  • VINJ-Food
  • Dermasal.

Customization & Pricing

Available upon Request

Key Market Segments Covered

Nature

  • Organic Banana Flakes
  • Conventional Banana Flakes

End Use

  • Banana Flakes for Food Processing Industry
    • Banana Flakes for Infant Nutrition
    • Banana Flakes for Cereals & Snacks
    • Banana Flakes for Bakery & Confectionery
    • Banana Flakes for Dairy & Desserts
    • Others
  • Banana Flakes for Nutraceuticals
  • Banana Flakes for Retail/Household
  • Banana Flakes for Foodservice Industry
  • Others

Distribution Channel

  • Business to Business
  • Business to Consumer
    • Banana Flakes Sold at Hypermarkets/ Supermarkets
    • Banana Flakes Sold at Convenience Stores
    • Banana Flakes Sold at Specialty Stores
    • Online Retail of Banana Flakes

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa (MEA)

Key Questions Answered in Report

  • How much is the market for banana flakes worth?

In 2021, sales of banana flakes are expected to reach a valuation of around US$ 457 Mn.

  • What does the sales forecast for banana flakes look like?

Increasing at 5.5% CAGR, the market for banana flakes is expected to be worth US$ 780 Mn in 2031.

  • At what CAGR has the market risen over the past 5 years?

Sales of banana flakes have increased at a steady 4% CAGR from 2016 to 2020.

  • What is a key trend shaping the growth of the market for banana flakes?

Continuously rising demand for infant food products, which use banana flakes as an ingredient, is driving market expansion across regions.

  • Which factor is driving demand growth of banana flakes?

Rising demand for gluten-free and organic products is an important factor catalyzing the sales of banana flakes, worldwide.

  • What is the market share of the top 5 players manufacturing banana flakes?

Symrise, Orkla Group, Johs. Thoms GmbH & Co. KG, Agro America, and Dermasal are leading players offering organic and conventional banana flakes, and hold around 10% to 15% share of the global market.

  • Which are the top five countries that majorly drive demand for banana flakes?

Developing countries are mainly driving demand for banana flakes, such as India, Thailand, China, Indonesia, and South Africa.

  • What is the market outlook for banana flakes in North America?

The North American market is projected to expand at over 4% CAGR, and be valued at close to US$ 150 Mn by 2031-end.

  • At what percentages are the U.K. and Germany markets registering growth in Europe?

The market in the U.K. and Germany is expected to rise at CAGRs of 4.6% and 6.3%, respectively, through 2031. Both countries together hold around 20% share of the European market.

  • Which countries are key producers of banana flakes?

The U.S., Brazil, China, and India are among the top banana flake producing countries. Developing countries mostly export fresh as well as processed banana-based products to developed nations that have less banana production.

  • What are the key market statistics for Korea and Japan?

By 2031, the market for banana flakes in South Korea and Japan is expected to be worth US$ 8.4 Mn and US$ 21.2 Mn, respectively.

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