The global green banana flour market is expected to be worth US$ 623 million in 2022. Changing customer preferences for organic and gluten-free flour will propel the market to a value of US$ 1,026.1 million by 2033, with a CAGR of 5% from 2023 to 2033.
Green banana flour is becoming popular as a gluten-free ingredient in the food business, which opens up new prospects for major stakeholders. Buyer values have shifted, causing them to seek greater nutrition from natural, high-quality food sources with clean labelling. With consumers seeking healthier options, it is clear that these items will appeal to a wide range of potential buyers.
Green banana flour is now available in a specific flavour or a blend of different fruit flavours, thanks to market demand. According to FMI, standard green banana flour is in strong demand, accounting for more than 95% of sales in 2021.
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Key Takeaways from the Green Banana Flour Market Study
- Green banana flour market is expected to register 4.6% Y-o-Y growth in 2021
- The U.S. will emerge as a highly attractive market, accounting for over 85% of sales in North America in 2021
- Exhibiting above 6% Y-o-Y growth in 2021, the U.K. will emerge as an attractive market for green banana flour within Europe
- The demand from Germany and France too is forecast to rise at an impressive pace
- Within East Asia, China will exhibit strong growth, followed by Japan and South Korea
“The food industry is actively developing palatable products, allowing people with allergies to gluten and wheat enjoy breads, baked goods, pasta, and other food items made using processed flour. This has been one of the crucial drivers of green banana market. Green banana flour has a very mild raw banana taste; it also has a lighter wheat flour-like texture and needs around 25 % low volume, making it a strong wheat flour substitute, which will continue aiding sales through the forecast period,” said a lead analyst at FMI.
Quality Concerns Pertaining to Food Enabling Green Banana Flour Sales
Rising concerns regarding quality of food products, along with growing awareness about health & wellbeing, are pushing consumers to increasingly opt for healthy and organic products Green banana powder is being sold in its retail format for household purposes in large quantities. Growing purchasing power and increased opportunities for women in the workforce have resulted in less time for home cooking, and higher demand for processed or prepared foods. As a result, there is a rise in consumer expenditure on grocery retail and food.
Not only is it a must for those with gluten allergies to use substitute flours, but it’s also a perfect choice for many recipes to add nutrients. Green banana flour is lower in calories than all-purpose flour at only 100 calories per 1⁄4 cup, which essentially helps minimize the total calorie count without losing flavour or texture.
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Who is winning?
Rising inclination towards vegetable and fruit flours across various regions is fuelling the demand for green banana flour. Manufacturers across the globe are are investing heavily to update their inventories with green banana flour products to cater to the growing demand.
For instance, Zuvii specializes in the production and marketing of gluten-free food ingredients for both retail and commercial sectors. The company offers products such as gluten-free banana flour, pancake and waffle mix, brownie mix, chocolate cake mix, vanilla cake mix, and bundles. The green banana flour produced by the company is claimed to be starch free, and good for the gut due to its probiotic nature.
Some of the key players in green banana flour market are are International Agriculture Group, Made’s Green Banana Flour Co., Kanegrade Ltd., Natural Evolution Limited, Slingan Pty Ltd., NOW Health Group, Inc, NuNatural Inc, Zuvii, Pereg Gourmet Natural Foods, M-Pak, Banatone Food Industries, Stawi Foods and Fruits Limited, Vinayak Ingredients (INDIA) Pvt. Ltd., Hearthy Foods, Saipro Biotech Private Limited, Paradise Fruits, Royal Nut Company, Absolute Organic, KADAC Pty Ltd.
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Green Banana Flour Market by Category
Product Type
- Organic Green Banana Flour
- Conventional Green Banana Flour
Process
- Spray Dried Process
- Sun Dried Process
- Freeze Dried Process
- Others
Sales Channel
- Direct Sales
- Indirect Sales
- Modern Trade
- Convenience Store
- Specialty Store
- Online Retailers
- Other Sales Channel
Application
- Household
- Food Industry
- Bakery & Snacks
- Confectionery
- Infant Food
- Filling & Dressings
- Soup & Sauces
- Others
- Beverages
- Pet Food & Feed Industry
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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