North America Banana Flakes Market to Grow at a CAGR of 4.4% to reach US$ 232.91 Million from 2020 to 2027

North America Banana Flakes Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Nature (Organic, and Conventional), Application (Household, Food and Beverages Industry, and Others), and Distribution Channel (Supermarket/ Hypermarket, Specialty Store, Online, and Others)

Publication Month : Sep 2020

  • Report Code : TIPRE00014197
  • Category : Food and Beverages
  • Status : Published
  • No. of Pages : 63
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The banana flakes market in North America is expected to grow from US$ 167.25 million in 2019 to US$ 232.91 million by 2027; it is estimated to grow at a CAGR of 4.4% from 2020 to 2027.

US, Canada, and Mexico are the major economies in North America. The health benefits associated with consumption of banana flakes will fuel its demand in the market. Banana flakes, derived from naturally ripened bananas are rich in vitamins (A, B, B6, C, and E), iron, potassium, calcium, zinc, and magnesium. The health consciousness among consumers is increasing tremendously, owing to lifestyle-related diseases. Banana flakes are a gluten-free product, and this is fueling its consumption among gluten intolerance consumers. Consumers are highly spending on food products that offer nutritional benefits. Banana flakes contain a high amount of fibers, and thus it helps in preventing colon cancer and improves the digestion process. Banana flakes aids in reducing colorectal inflammation, and studies have revealed that frequent consumption of banana will reduce the risk of colon cancer by 72%.According to the Center for Disease Control and Prevention (CDC), it is revealed that colon cancer is the second-highest cancer killer in the U.S. Hence, consumers are increasingly including banana products in their diet. Moreover, the component known as pectin present in banana flakes helps to improve diarrhea, which further increases its demand. In addition to this, potassium present in banana flakes tackles the narrowing and hardening of arteries. This hardening of arteries will reduce the risks of strokes and heart attacks. According to the World Health Organization, cardiovascular disease is the major cause of death in world, and it takes an estimated 17.9 Mn lives each year. Hence, the National Health Service of the U.K advised to include two bananas daily in the diet to consume 3,500mg of potassium per day which will further propel the growth of North America banana flakes market. The increasing diseases across the region and changing lifestyle is also bolstering the growth of food and beverage industry. Thus the growth in the food and beverage sector is expected to create a significant demand for banana flakes market in coming years, which is further anticipated to drive the market in North America. However the COVID-19 has affected the industries and economies in various countries such as the US, Canada, and Mexico. Food and beverages are one of the world’s major industries facing severe disruptions in the form of event cancellations, supply chain breaks, and office shutdowns as a result of the lockdowns imposed in various countries to contain the disease spread.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. Considering these factors the North America banana flakes market is expected to grow at a good CAGR during the forecast period.


North America Banana Flakes Market Revenue and Forecast to 2027 (US$ Mn)

North America Banana Flakes Market Revenue and Forecast to 2027 (US$ Mn)
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North America Banana Flakes Market Segmentation

North America Banana Flakes Market – By Nature

  • Organic
  • Conventional

North America Banana Flakes Market – By Application

  • Household
  • Food and Beverages Industry
  • Others

North America Banana Flakes Market – By Distribution Channel

  • Supermarket/ Hypermarket
  • Specialty Store
  • Online
  • Others

North America Banana Flakes Market, by Country

  • US
  • Canada
  • Mexico

North America Banana Flakes Market-Companies Mentioned

  • Z Natural Foods
  • Van Drunen Farms
  • P & G Industries
  • Ingredient Inc.
  • Diana Group
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Nature, Application, and Distribution Channel

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada

The List of Companies - North America Banana Flakes Market

  1. Z Natural Foods
  2. Van Drunen Farms
  3. P & G Industries
  4. Ingredient Inc.
  5. Diana Group

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

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.

  1. 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.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 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.

  1. 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.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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