According to a recent report by Future Market Insights, a market research and competitive intelligence provider, sales of Banana Flakes are estimated to reach a value of USD 810 million by 2032, surging at 4.6% CAGR through the decade.
The growing demand for organic goods in both developed and developing countries has a big influence on the global banana flakes market. As people become even more increasingly health – conscious across the world, there is a growing desire for healthier foods.
Organic food consumption is becoming more popular throughout the world, with people becoming more interested in organic production practices. Growing market for gluten-free, organic, and nutritious products is anticipated to raise the demand for banana flakes over the next decade.
The growth of fast service local restaurants outlets in emerging countries including the Middle East and Africa, as well as Asia and the Pacific, has resulted in a favourable shift in demand for banana flakes as a healthy fast food alternative.
This trend is expected to continue and extend throughout developed regions in the coming years. Despite the fact that conventional is the more popular source in terms of units eaten, the organic category is projected to grow at the rapid pace in terms of revenue throughout the forecast period.
Key Takeaways from Market Study
- Banana flake consumption in India is predicted to expand at an annual pace of over 8%.
- With a growth expected to surpass 6%, Germany is one of the most important countries in the European Snack Pellets market.
- During the forecast period of 2022-2032, the organic category is predicted to develop at the fastest rate in terms of value, with a CAGR of 6.5 percent.
- As banana flakes are gluten-free, their popularity is predicted to grow as a result of their health benefits.
- Market players are experimenting with new ways on increasing production capacity and also doing research and innovation to create products.
“ The growing focus on the consumption of organic food products in developed regions such as Europe and North America is likely to open lucrative opportunity for market players in the long run”, –says a lead analyst at Future Market Insights.
Competitive Landscape
Banana flakes have a strongly competitive global market. To stay ahead of the game and outperform their competitors, businesses are using innovative methods such as expanding their worldwide client base and utilising various advertising approaches.
They’re focusing on increasing production capacity and also doing research and innovation to create products that highlight the nutritional advantages of banana flakes.
Some of the leading companies offering Snack Pellets are Orkla Group, Raeler Fruchtchips GmbH, Om Foods Inc, Van Duren Farms, Johs. Thoms GmbH & Co. KG, Tradal Brazil, Z Natural Foods, Symrise, Seawind International LLC, VINJ-Food,Dermasal., Nutritional Designs, Inc., Futurcorp S.A., Cosmo Foods, Agro America, and Grupo Industrial Michel.
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the banana flakes presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on the banana flakes based on by Application (Household, Food & Beverage Industry), Source (Organic, Conventional), Sales Channel (Direct Sales, Indirect Sales), and across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, APEJ, and MEA).
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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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