Banana powder is obtained by processing of bananas. Banana powder
having high essence of banana, is one of the major source of
carbohydrate and calories. It is also beneficial in treating
indigestion, preventing dehydration, improving absorption of
nutrients, and preventing ageing effects. Banana powder helps in
stimulating the growth of intestinal bacteria and produce digestive
enzymes. Processing of banana into banana powder prolongs its shelf
life. Banana powder has found wide use in cosmetic application owing
to its moisturizing properties. It also relieve skin itching and
irritation. Owing to the high health consciousness among consumers
with increasing awareness regarding the health benefits of banana
powder, it is expected that its market will grow at a rapid pace
during the forecast period.
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Market
Dynamics of Banana Powder:
Banana
powder market is expected to witness high growth owing to its high
medicinal and nutritional characteristics. Development of ingredients
with high health and wellness functionality is one of positive trend
supporting the growth of banana powder market. Rapid urbanization
along with the changing lifestyle and dietary habits plays a
significant role in increasing the demand for banana powder.
Consumers are becoming highly health conscious, hence prefer more of
natural food ingredients to support a healthy life style. Other
factors escalating the demand for banana powder includes continuous
new product developments and improved distribution channel that
supports the wide availability of banana powder in the market. Food
technologist and companies in the banana powder market also carry out
research & development activities to increase the utility of
banana powder in various application.
Market
Segmentation of Banana Powder:
Banana
powder market is segmented on the basis of application and geography.
Based upon application, banana powder market is segmented into food,
pharmaceuticals, animal feed, and cosmetics. Food application can be
further sub-segmented on the basis of puffed food, infant food,
seasonings, instant food, and others. Food is expected to attain
relatively higher market share in the banana powder market. Food
application is followed by animal feed segment owing to the
increasing consumption of banana powder in cattle feed and pet feed.
Pharmaceutical segment is expected to grow at relatively high CAGR
during the forecast period. This is expected to be driven by the
increasing contribution of banana powder in effectively treating
colon diseases, carbohydrate intolerance among children, and many
others. It also plays a vital role in treating the intestinal
disorder among adults.
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Regional
Outlook of Banana Powder:
Based
on geography, banana powder market is segmented into seven different
regions namely Asia-Pacific, Middle East and Africa, Latin America,
Western Europe, Eastern Europe, North America, and Japan.
Asia-Pacific region is expected to attain relatively higher revenue
share in the global banana powder market. Higher revenue share of the
region can be attributed to the wide availability coupled with the
growing awareness regarding the benefits of banana powder in the
region. Countries such as China and India witness high demand for
banana powder for various applications such as food, pharmaceuticals
etc., hence expected to contribute significantly in increasing the
market revenue of the region. The Western Europe region is expected
to offer high growth opportunities, owing to significant increase in
the use of banana powder in cosmetics application.
Key
Market Players in Banana Powder:
Some
of the key players in the banana powder market include Chiquita
Brands International, Inc., Mevive International, Safety Foods Pvt
Ltd, Taj Agro International, Cool Milling Ventures Corporation,
Perennial Lifesciences Private Limited, and Banatone Industries among
others. Banana powder market is a fragmented market with large number
of organized and unorganized players competing to develop an edge
over others. Leading manufacturers in the banana powder market are
keen to expand their product portfolio to strength their position in
the market.
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