In 2022, the global market for green banana flour reached approximately USD 623 million. The market is poised to expand to USD 1,026.1 million by 2033, driven by shifting consumer preferences towards organic and gluten-free flour options. This growth is expected to be supported by a CAGR of 5% from 2023 to 2033.
The rising demand for improved nutritional value in food along with new flavors, textures and aromas, among consumers are enabling sales in the market. Alternative flours are gaining traction especially since they are known to offset disadvantages of traditional whole wheat or wheat flour.
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Green banana flour is trending as a gluten-free ingredient for the food industry, which in turn is creating opportunities for key players to capitalize on. Changing buyers values have led to seek more nutrition from natural and high-quality food sources with clean labels. With consumers seeking healthier options, it is seen that these products have appeal across a broad spectrum of potential buyers.
“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.
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.
The key players in this market include:
- International Agriculture Group
- Stawi Foods and Fruits Limited
- Natural Evolution Limited
- Made’s Green Banana Flour Co.
- Pereg Gourmet Natural Foods
- Kanegrade Ltd
- Banatone Food Industries
- Slingan Pty Ltd.
- Absolute Organic
- NOW Health Group, Inc.
Some of the products being launched by the key players are:
- In 2021, the Indian Council of Agricultural Research (ICAR)- National Research Centre for Banana, Tiruchi, established a memorandum of understanding (MoU) with Cake Bee, a bakery business, for the transfer of knowledge to utilize banana powder in the baking industry. Foam mat drying, a low-cost, new technique created by the institution, could be a workable option for making banana powder from ripe bananas that have been rejected by the market.
- In 2021, Let’s Do Organic® Green Banana Flour was introduced by Edward & Sons Trading Co., Inc. This is prepared from organic, unripe bananas that have not yet reached the peak of their sugar content. The green bananas are then dried at low temperatures to preserve their nutrients and resist starch. It is ground into gluten-free flour with a flavor that is nutritious and somewhat sweet. When used in cooking, Let’s Do Organic® Green Banana Flour gives a smooth texture and a delicate, delectable taste to bread, pastries, pasta, and other foods.
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Key Segments Profiled in the Global Green Banana Flour Market Report
By Product Type:
- Organic
- Conventional
By Process:
- Spray Dried
- Sun Dried
- Freeze Dried
- Others
By Sales Channel:
- Convenience Store
- Specialty Store
- Online Retailers
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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