Categories: Food & Beverages

Banana Powder Market Growth Analysis, Share, Drivers And Forecast 2033

The banana powder global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Banana Powder Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –

The banana powder market size has grown strongly in recent years. It will grow from $1.13 billion in 2023 to $1.22 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to demand for natural food products, rising vegan and plant-based Diets, and rise in infant food products.

The banana powder market size is expected to see strong growth in the next few years. It will grow to $1.63 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to health consciousness, a rising vegan population, innovation in product development, diversification in end-use applications, and rising demand for functional foods. Major trends in the forecast period include the adoption of sustainable practices, applications in functional foods and beverages, flavor innovation, clean label products, and functional snacking.

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Scope Of Banana Powder Market

The Business Research Company’s reports encompass a wide range of information, including:

Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
Drivers: Examination of the key factors propelling market growth.
Trends: Identification of emerging trends and patterns shaping the market landscape.
Key Segments: Breakdown of the market into its primary segments and their respective performance.
Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
Macro Economic Factors: Assessment of broader economic elements impacting the market.

Banana Powder Market Overview

Market Drivers –

The expansion of the food and beverage sector is expected to propel the growth of the banana powder market going forward. The food and beverage sector encompasses all businesses involved in the production, processing, distribution, and sale of food and drinks for human consumption. The demand for the food and beverage sector increases due to various factors, such as consumer pricing pressures, economic stability, and increased demands for food transparency. Food and beverage companies often point out several nutritional benefits in their marketing efforts to attract health-conscious customers. Banana powder contains essential components such as potassium, fiber, and vitamins, which can be used as a natural substitute for artificial sweeteners and flavorings. For instance, in February 2024, according to the Department for Environment, Food, and Rural Affairs, a UK-based government organization, the gross value added (GVA) of the food sector was $130 billion in 2021, increasing by 12.3% since 2020. GVA for all food and drink sectors increased in this period, with catering increasing by 31.6%, manufacturing by 8%, retailing by 5.5%, and wholesaling by 0.4%. Therefore, the expansion of the food and beverage sector is driving the growth of the banana powder market.

Market Trends –

Major companies operating in the beacon management software market are focusing on developing advanced solutions, such as the integration of artificial intelligence into beacon platforms, to enhance the platform’s search functionalities. The integration of artificial intelligence into beacon platforms involves leveraging AI technologies to enhance the capabilities and functionalities of beacon-based systems for advanced data analysis, dynamic beacon management, and automation of tasks. For instance, in November 2022, Alucio Inc., a US-based developer of cloud-based software solutions, announced the integration of artificial intelligence (AI) and machine learning (ML) capabilities into its Beacon Scientific Exchange Platform to provide users with more targeted and relevant search results. By incorporating AI and machine learning capabilities, the platform now offers a powerful full-text search feature that enables users to quickly and efficiently locate various documents. Ultimately, this enhancement is designed to increase productivity, streamline workflows, and improve scientific information exchanges within the life sciences industry.

The banana powder market covered in this report is segmented –

1) By Process: Freeze Dried, Spray Dried, Sun Dried, Drum Dried, Other Processes

2) By Distribution Channel: Supermarkets, Convenience Stores, Online Stores

3) By Application: Food Industry, Cosmetics, Beverages, Pet Food And Feed, Household

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Regional Insights –

North America was the largest region in the banana powder market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the banana powder market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Key Companies –

Major companies operating in the banana powder market are Corteva Inc., Fresh Del Monte Produce Inc., Chiquita Brands International Sàrl, Dole plc, Taj Agro International, Kanegrade Limited, Vinayak Ingredients Pvt. Ltd., Santosh Food Products, Nutraceuticals International Group, National Food N Spices, Naturalin Bio-Resources Co. Ltd., Safety Foods Pvt Ltd., NuNaturals Inc., Naturya, Biovitals Ingredients, AayurMed Biotech Pvt. Ltd., Coliman Group, Mevive International, Cool Milling Ventures Corporation, Banatone Industries, Aarkay Food Products Ltd., Saipro Biotech Pvt. Ltd., Perennial Lifesciences Private Limited, Royal Nut Company, Varmora Food Pvt Ltd., Sumitomo Corporation, GRUPO JUGAL Inc.

Table of Contents

Executive Summary
Banana Powder Market Report Structure
Banana Powder Market Trends And Strategies
Banana Powder Market – Macro Economic Scenario
Banana Powder Market Size And Growth

…..

Banana Powder Market Competitor Landscape And Company Profiles
Key Mergers And Acquisitions
Future Outlook and Potential Analysis
Appendix

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