[Research Report] The banana flakes market was valued at US$ 941.74 million in 2019 and is projected to reach US$ 1,323.37 million by 2027; it is expected to grow at a CAGR of 4.5% from 2020 to 2027.
The demand for banana flakes in the food and beverage industry is drastically increasing owing to its application in ice creams, juices, desserts, breakfast cereals, salads, yogurt, and many others. The consumers demand banana flakes in the aforementioned food products owing to their health benefits. For the last few years, there has been a significant demand for banana flakes from bakery sector in developed and emerging countries. The sweet and snacks industry is also exploiting banana flakes for the production of healthy bars and sweets.
In 2019, Asia Pacific dominated the market in terms of revenue and is also expected to be the fastest-growing region over the forecast period. The largest market share of the country is primarily attributable to the rapid rise in population demanding more of healthy products. Further, increase in the disposable income coupled with shift in focus towards consumption of health promoting food is also driving the growth of the banana flakes in global market. Moreover, the growing demand of banana flakes among the food and beverage industry provides a lucrative opportunity for the banana flakes market players operating in the market. The growth of food and beverage, dairy and other end use industries is also expected to stimulate the demand of banana flakes in the country. The on-going shift towards organic farm products is expected to have a positive impact on the banana flakes market. The Asia Pacific market is characterized by the strong presence of players such as A Natural Farm, J and C Tropicals, Miami Fruit and Moonland Produce among others.
The COVID-19 pandemic originated in Wuhan (China) in December 2019, and since then, it has spread across the globeat a fast pace. The US, Brazil,India, Russia, Italy, China, Spain, France, and Germany are among the worst-affected countries in terms of confirmed cases and reported deaths as of June 2020. The pandemic has affectedeconomies and industries due to enforced lockdowns, travel bans, and business shutdowns. Food &Beverage is one of the world’s major industries facing serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak.The global economic break down due to COVID-19 is also affecting the growth of the banana flakes market due to shutting down of factories and obstacles in supply chain.
Global Banana Flakes Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Rising usage of banana flakes by food and beverage sector
The demand for banana flakes in the food and beverage industry is drastically increasing owing to its application in ice creams, juices, desserts, breakfast cereals, salads, yogurt, and many others. The consumers demand banana flakes in the aforementioned food products owing to their health benefits. For the last few years, there has been a significant demand for banana flakes from bakery sector in developed and emerging countries. The sweet and snacks industry is also exploiting banana flakes for the production of healthy bars and sweets. For instance, in 2018, Diana Foods, a subsidiary of Symrise Group headquartered in Germany, introduced a raw bar made with banana flakes in the ProSweets Cologne trade fair. Companies are also combining banana flakes with other fruits, such as dates to create outstanding flavors. The high nutritional value and unique texture of these fruits attract consumer attention. Moreover, banana flakes are used in the production of nutritional bars. Nowadays, consumers are replacing meals with nutritional bars owing to obesity, coupled with changing food habits. This is also anticipated to create opportunities for the growth of the banana flakes market. Furthermore, increasing usage of banana flakes by infant nutrition sector is also projected to offer ample opportunities for the market in the coming years.
Nature-Based Insights
Based on nature, the banana flakes market is segmented into organic and conventional. In 2019, the conventional segment dominated the banana flakes market; however, the organic segment is expected to grow at a higher CAGR during the forecast period. Organic banana flakes refer to flakes that are derived from organically grown bananas without the application of nitrogen-based fertilizers, fungicides, or pesticides. They are mainly derived from red bananas that are allowed to wine ripen under completely organic conditions. Later they are handpicked and air-dried. The organic banana flakes have the same flavor characteristics of freshly peeled bananas. They are very suitable for fruit preparations, powdered drinks, and cake mixes. The organic banana flakes are grown without the use of GMOs or additives. They are gluten-free and are derived from 100% naturally ripened dried bananas. They are rich in vitamin C & B6, dietary fibers, and other minerals such as manganese & potassium. They can easily be stored in a cool, dark place in an airtight container. They are used in the preparation of smoothies, elixirs, baby food, ice cream, and yogurt. Sometimes, the organic banana flakes also act as a rejuvenating face mask. The organic banana flakes prove beneficial on consumption as it is free from the harmful chemicals that are used in pesticides and fungicides. They support the production of hemoglobin, healthy blood pressure levels owing to high potassium content, and low salt levels. The consumption of organic banana flakes also helps in healthy bowels because of the high amounts of fiber content. They also soothe heartburn and helps to avoid morning sickness. The organic banana flakes are 100% natural & minimally processed. The taste, smell & texture may vary from batch to batch. For instance, companies such as Z Natural Foods, LLC offers organic sweet banana flakes which finds application in prepration of smoothies, desserts and other food items.
Global Banana Flakes Market, by Nature– 2019 and 2027
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Application-BasedInsights
Based on application, the banana flakes market is segmented into household, food & beverages industry, and others.In 2019, Food and beverages segment held the largest share of the global banana flakesmarket; whereas, the household segment is expected to register the fastest CAGR during the forecast period. Owing to the increasing awareness about the low fat & gluten content along with health benefits offered by banana flakes, it is used in almost every household today. Banana flakes are mixed with cereals and consumed as breakfast in many households. They are also taken to be a healthy evening snack and are eaten regularly due to its low fat content. Homemade face masks are prepared using banana flakes to control acne problems. It also helps in strengthening the hair and reduce hair fall owing to the high potassium content. Banana flakes are also used in as sprinkler to enhance the taste of foods such as homemade custards, ice creams and cakes. Banana flakes in powdered form gets mixed with cereals, smoothies & yogurt and helps in adding flavors to dessert toppings, cakes, icing, purees and sauces made at home. It is applied as flavored dessert toppings along with cornflakes & oats for pie and puddings. Besides this, banana flakes are capable of thickening beverages and hot cereals. It act as a helpful ingredient in baking at home. Use of banana flakes in household cooking relives pain and burning symptoms of occasional heartburn. It also helps in stimulating appetite.
Distribution Channel-Based Insights
Based on distribution channel, the banana flakes market is segmented into supermarket/hypermarket, specialty stores, online, and others. In 2019, supermarket/hypermarket segment accounted for a major share of the global banana flakes market; whereas, the others segment is expected to register the fastest CAGR during the forecast period. Other distribution channels include small grocery stores, convenience stores, direct sales, and retailers. A small grocery store primarily stocks up and sells food products, including both fresh as well as packaged ones. It is a wholesaler or bulk seller of food. Several vendors choose to sell their products through retail stores, as the physical presence of the store strengthens the confidence of its customers and also helps in brand visibility. These stores serve the purpose of facilitating the customers with a feel of the real product and also provide them with enhanced services, such as tasting or trying before buying. Vendors select their distribution networks based on the factors that will affect the purchasing choice of customers. For instance, they consider the need of customers, characteristics of products, and trade practices in the local region.
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Banana Flakes Market: Strategic Insights
Market Size Value in US$ 941.74 Million in 2019 Market Size Value by US$ 1,323.37 Million by 2027 Growth rate CAGR of 4.5% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Banana Flakes Market: Strategic Insights
Market Size Value in | US$ 941.74 Million in 2019 |
Market Size Value by | US$ 1,323.37 Million by 2027 |
Growth rate | CAGR of 4.5% from 2020-2027 |
Forecast Period | 2020-2027 |
Base Year | 2020 |
Shejal
Have a question?
Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to AnalystSeveral strategies are commonly adopted by the companies to expand their footprint worldwide. Diana Group, JOHS. THOMS GmbH & Co. KG, Ingredient Inc., and Naturkostbar KG are among the key players in the global banana flakes market implementing these strategies including geographical expansion, product launches and others to enlarge the customer base and gain significant share, which in turn allows themto maintain their brand nameglobally.
Report Spotlights
- Progressive industry trends in the banana flakesmarket help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the banana flakesmarket from 2017 to 2027
- Estimation of banana flakesdemand across various industries
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
- Recent developments to understand the competitive market scenario and banana flakesdemand
- Market trends and outlook coupled with factors driving and restraining the growth of the banana flakesmarket
- Understanding of strategies that underpin commercial interest with regard to the banana flakesmarket growth, which facilitates decision-making process for stakeholders
- Banana flakesmarket size at various nodes of market
- Detailed overview and segmentation of the banana flakesmarket, as well as its dynamics in the industry
GlobalBanana Flakes Market – by Nature
- Organic
- Conventional
Global Banana Flakes Market – by Application
- Food and Beverages Industry
- Household
- Others
Global Banana Flakes Market – by Distribution Channel
- Supermarkets/Hypermarkets
- Specialty Stores
- Online
- Others
Company Profiles
- Bata Food B.V.
- Diana Group
- Futurcorp S.A.
- Ingredient Inc.
- Naturkostbar KG
- JOHS. THOMS GmbH & Co. KG
- P&G Food Industries
- RabelerFruchtchipsGmbh
- Van Drunen Farms
- Z Natural Foods
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Nature , Application , Distribution Channel
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
The List of Companies - Global Banana Flakes Market
- Bata Foods B.V
- Diana Group
- Futurcorp S.A
- Ingredient Inc.
- Naturkostbar KG
- JOHS. THOMS GmbH & Co. KG
- P&G Food Industries
- Rabeler Fruchtchips GmbH
- Van Drunen Farms
- Z Natural Foods
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
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- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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