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Banana Flour Market

Global market Study on Banana Flour: Growing Demand for Gluten-Free Food Products Stimulating Market Progress

Banana Flour Market by Nature (Organic and Conventional), Banana Flour Market has witnessed significant growth at a CAGR of 5.67% in the historical period.

Banana Flour Market Outlook (2023 to 2033)

The market for banana flour can be expected to expand at a value based CAGR of 5.4% and show an increase in revenue from US$ 730.2 Million to around US$ 1,235.5 Million by 2033.

Attribute Details

Banana Flour Market Size (2023E)

US$ 730.2 Million

Projected Sales of Banana Flour (2033F)

US$ 1,235.5 Million

Value CAGR (2023 to 2033)

5.4%

Value Share of Top 4 Countries (2022E)

53%

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Banana Flour Consumption Analysis (2018 to 2022) Vs. Market Estimations (2023 to 2033)

The global banana flour market has witnessed significant growth in the historical period registering a CAGR of 5.67% in the historical period and was valued at US$ 730.2 Million in 2023.

Rising demand for gluten-free food products across regions is a prime factor for the growth of the global banana flour market. It is also highly preferable for babies as far as digestion is concerned, and in the prevention of various disease in adults. This report elaborates on how players the banana flour market space are focusing on advanced and state-of-the-art manufacturing techniques, and also organically-produced banana flour, to enhance their market standings. The Middle East & Africa will be a region to look at for maximum sales, closely followed by North America, Latin America, and South Asia. The global market for banana flour is estimated to reach an approximate valuation of US$ 1,235.5 Million in the forecast period.

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What are the Key Trends in the Market for Banana Flour?

Banana Flour as Alternative to Wheat Flour Escalating Market Growth”

Banana flour has come up as an alternative to regular wheat flour. Banana flour is made by milling dehydrated green bananas, which results in a flour that has high levels of resistant starch. Green banana flour bakes well and is a very rare gluten-free flour. Less banana flour is usually required in baking than regular flour. Banana flour is versatile enough to work in nearly any dish that calls for all-purpose wheat flour. It is low on the glycaemic index, which means that it also doesn’t spike blood sugar levels.

  • Natural Evolution produces green banana baking flour, which is a nutrient-packed, delicious, light, natural, gluten-free flour made from green Cavendish bananas grown on the Atherton Tablelands in tropical Far North Queensland, Australia.

“Demand for Organic Products to Fuel Growth of Banana Flour Market”

There has been significant increase in demand for organic products with rising clean eating habits among consumers. Availability of organically-produced banana flour has attracted a lot of consumers looking for chemical- and pesticide-free products. It has also helped the foodservice industry offer organic products made using organic banana flour. Manufactures in the banana flour market are also working closely with suppliers and farmers to understand the quality of bananas used for making the flour. Demand for organic banana flour is expected to positively influence the expansion of the banana flour market size

  • For instance, Miski Organics offers certified organic green banana flour that is a source of powerful antioxidants, which have a positive effect on human health and wellbeing.

“Use of Banana Flour in Infant Food Products Offering Potential Opportunities”

Banana, having high nutritional benefits, is finding its way into infant food products. Milk alone cannot meet a baby's nutritional requirements beyond six months of age. It requires easily digestible supplements along with a mother's milk until it is ready to eat solid, adult food. Protein and energy malnutrition generally occurs during this crucial transitional phase when children are being transitioned from liquid to semi-solid or fully adult foods. Banana flour can be used as a complementary food that helps the child's growth and development. Banana flour benefits help in building immunity in babies, along with development of a healthy brain. It is packed with protein, potassium, and other vital nutrients. It offers an instant source of energy and is easy to digest for babies. Increasing use of banana flour in infant food products is expected to create opportunities for increased sales and expansion of the global banana flour market.

  • For instance, BanaTone offers banana powder for babies, a natural banana flour made from traditional green bananas.

“Banana, Being Natural Source for Resistant Starch, to Attract Health-conscious Consumers”

A whole green banana, including the peel, is considered as a rich source of resistant starch that is resistant to digestive enzymes in the stomach and small intestine. It is not absorbed in the stomach and small intestine like most other starches, and goes on till the large intestine, where it feeds good bacteria into the gut and does not have any side effects, acting as a healthy dietary fiber. It enhances the growth of probiotics in the large intestine, which may have a positive indirect e?ect regarding colorectal cancer. Introducing green banana flour into the diet can be beneficial in the treatment of patients with intestinal inflammation. Green banana flour uses include functional food purposes in the prevention or reduction of cholesterol, constipation, diverticulitis, and colon cancer.

“High prices associated with banana flour to restrain growth in price sensitive market”

Price-wise, banana flour is significantly more expensive than wholegrain flour. Banana flour production calls for a significant amount of labour, a lot of exposure to sunlight, and patience. Banana flour is almost always more expensive than wholegrain flours because it requires eight to ten kg of green bananas to produce one kg of flour. Depending on the brand, manufacturing method, and country's import and export regulations, banana flour is a gourmet food that can be purchased online anywhere. Compared to other gluten-free flours on the market, banana flour is currently a bit more expensive. However, this can change as production techniques improve, allowing for increased productivity without compromising nutritional value.

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Country-wise insights

Why is the Middle East & African Region Experiencing Higher Consumption of Banana Four?

The Middle East & Africa is witnessing higher consumption of banana flour, owing to higher utilization across households and regional markets in African countries. The African continent is one of the major producers of bananas, which is considered as a staple fruit in various countries such as Kenya, Angola, and others. Consumers in these countries having been utilizing banana flour from long as a substitute for wheat flour, in different food products such as bakery, confectionery, and others.

What is the Outlook for the Global Banana Flour Market?

Other major regions are North America, Latin America, and South Asia, also exhibiting significant banana flour market value share. In North America, banana flour is increasingly being used, especially in bakery and confectionery products. South Asian countries such as India, Indonesia, Thailand, and others are one of the prime consuming countries of banana and banana-processed products, mainly due to higher availability. Additionally, Europe is expected to experience a substantial CAGR during the forecast period (2023 to 2033), in the global banana flour market.

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Category-wise insights

What is the Segmental Breakdown for the Global Banana Flour Market?

The sun dried process segment will hold the highest market value share in the global banana flour market in 2023, owing to its low-cost and convenient method of processing in banana producing countries.

The beverage segment is expected to grow significantly in the global banana flour market by end use. Banana flour has been widely used in a variety of banana-infused functional beverages and smoothies.

Unripe banana flour is expected to have a significant market value share in 2023 due to high occurrence of functional properties and its extensive applicability in the food industry.

Banana flour, as a wheat flour substitute, is expected to find widespread use in the bakery industry. Additionally, significant sugar content in banana flour is beneficial for its use in various confectionery products.

Competitive Dashboard

Leading market players such as Natural Evolution, International Agriculture Group, True Nutrition, and others are focusing on geographical expansion and targeting quality enhancement to strengthen their positions in the global banana flour market. Increasing production capacity and improvement in distribution networks are other strategies being adopted by key players to gain a competitive edge in the global banana flour market space.

  • In November 2014, Natural Evolution collaborated with Foodstock, one of the leading food companies in Japan. This deal was expected to increase the weekly production of banana flour to 10 tons. The company’s products met Japan’s food safety guidelines. It currently has a capacity of 100 tons per year.
  • Pereg Gourmet Spices expanded its product line with five new flours in 2017. Almond, buckwheat, chickpea, quinoa, and coconut flours are among them. The company provides a full line of gluten-free flours, giving customers more and better cooking and baking options.
  • Woodland Foods announced plans to expand its sales and marketing reach into Mexico in 2020. The expansion will bring the entire Woodland Foods catalogue, including services for industrial, foodservice, and retail markets, to Mexico and the Caribbean.
  • The University of San Carlos (USC) in Cebu City, Philippines is a partner with Green Enviro Management Systems Inc. to invest in product innovation. To enhance the company's products, research is carried out at the University of San Carlos' engineering college.

Banana Flour Industry Report Scope

Attribute Details

Forecast period

2023 to 2033

Historical data available for

2018 to 2022

Market analysis

USD million for value

Key regions covered

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • Middle East & Africa

Key countries covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand
  • GCC countries
  • Turkey
  • Northern Africa
  • South Africa

Key market segments covered

  • Nature
  • Process
  • Form
  • Application
  • Distribution Channel
  • Region

Key companies profiled

  • Natural Evolution
  • International Agriculture Group
  • Absolute Organic
  • Pereg Gourmet Spices
  • Saipro Biotech Private Limited
  • Banatone Food Industries
  • Seawind International LLC
  • Woodland Foods
  • Hearthy Foods
  • Green Enviro Management Systems Inc
  • LiveKuna
  • Messina Verpakkings
  • Miski Organics
  • Divine Foods
  • APKA Industries
  • Banana Health Ltd
  • NCEF Technology & FB Tropical Food
  • Ceres Organics
  • Edward & Sons Trading Co
  • Blue Lily Organics LLC

Report coverage

  • Market forecast
  • Company share analysis
  • Competition intelligence
  • DROT analysis
  • Market dynamics and challenges
  • Strategic growth initiatives

Customization & pricing

Available upon request

Banana Flour Industry Research by Category

By Nature:

  • Organic
  • Conventional

By Process:

  • Freeze Dried Process
  • Spray Dried Process
  • Sun Dried Process
  • Others

By Form:

  • Ripped
  • Unripped

By Application:

  • Household
  • Food Industry
    • Bakery & Snacks
    • Confectionery
    • Infant Food
    • Fillings & Dressings
    • Soups and Sauces
    • Others
  • Beverages
  • Pet Food and Feed Industry

By Distribution Channel:

  • Business to Business
  • Business to Consumer
    • Hypermarkets/Supermarkets
    • Convenience Stores
    • Specialty Stores
    • Online Retail

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • Middle East & Africa

- Companies Covered in This Report -

  • Natural Evolution
  • International Agriculture Group
  • Absolute Organic
  • Pereg Gourmet Spices
  • Saipro Biotech Private Limited
  • Banatone Food Industries
  • Seawind International LLC
  • Woodland Foods
  • Hearthy Foods
  • Green Enviro Management Systems Inc
  • LiveKuna
  • Messina Verpakkings
  • Miski Organics
  • Divine Foods
  • APKA Industries
  • Banana Health Ltd
  • NCEF Technology & FB Tropical Food
  • Ceres Organics
  • Edward & Sons Trading Co
  • Blue Lily Organics LLC

- Frequently Asked Questions -

The global market for banana flour has a value of US$ 730.2 Mn in 2023.

The global market for banana flour has a value CAGR of 5.67% from 2018-2022.

The global market for banana flour has a value of US$ 1,235.5 Mn in 2033.

The global market for banana flour has a value CAGR of 5.40% from 2023-2033.

The top players in banana flour market include Natural Evolution, International Agriculture Group, Pereg Gourmet Spices and hold around 30-40% of the market share.

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