According to a recent report by Future Market Insights (FMI), sales of banana milk are estimated to reach a value of US$ 50.6 Mn by 2032, surging at a 5.6% CAGR over the assessment period.
Banana milk is a dairy alternative made with whole bananas and oat milk that contains vitamins A, B12, C, D, fiber, and potassium. It is gluten-free, fat-free, and non-GMO, in addition to being high in nutrients. Various brands are incorporating flavors such as strawberry, chocolate, and mango.
Surging demand for healthy and natural food ingredients is primarily driving the market. Banana milk can be a key ingredient in functional beverages, benefiting the global banana milk market. Increasing demand for healthy and affordable options with functional benefits has resulted in the emergence of products aimed at the sports nutrition market, which in turn is fueling the incorporation of banana milk in dietary supplements and sports nutrition products.
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Key Takeaways:
- Sales of banana milk in Germany are expected to grow at a CAGR of 4.6 % during the forecast period.
- The banana milk market in India will gain traction at a CAGR of 7.6% through 2032.
- In 2022, the infant food application segment will hold the largest market share.
- On the basis of source type, organic banana milk is expected to take the lead in 2022 over conventional banana milk.
- In terms of sales channel, demand in the direct channels segment will remain high.
“Growing demand for vegan milk alternatives, along with high focus on functional foods and beverages across emerging economies is expected to augment the growth in the global banana milk market over the forecast period,” says an FMI analyst.
Competitive Landscape
To strengthen their position and create a positive brand reputation, key players in the global banana milk market are establishing long-term business relationships. They are constantly striving to delight customers by providing banana milk in smaller portions that are tailored to individual dietary requirements.
- In January 2019, the Kraft Heinz Company, a leading manufacturer of banana milk and other products, announced the acquisition of Primal Nutrition, LLC.
Some of the key players in the Banana Milk Market include Döhler GmbH, Nestlé S.A., The Kraft Heinz Company, SunOpta Grains and Foods Inc., Newberry International Produce Limited, Riviana Foods Pty Ltd, Antigua Processors S.A., Ariza b.v, Shimla Hills Offerings Pvt. Ltd, Hiltfields Ltd., among others.
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Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of banana milk presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on the banana milk based on Nature (Organic, Conventional) By Flavor (Sweetened, Unsweetened) By Sales Channel (Direct Sales, Indirect Sales) By End-Use (Dairy Products, Bakery & Confectionery, Milk & Milk-based Beverages) and across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
Banana Milk Market by Category
By Nature:
- Organic
- Conventional
By Flavor:
- Sweetened
- Unsweetened
By Sales Channel:
- Direct
- Indirect
By End-Use:
- Dairy Products
- Bakery & Confectionary
- Milk & Milk Beverages
- Retail Sales
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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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