Banana Flour Market Set to Reach US$ 1.11 Bn by 2031 - Persistence Market Research

The global banana flour market is poised for steady growth, increasing from a valuation of US$ 770.5 million in 2024 to approximately US$ 1113.4 million by 2031, growing at a compound annual growth rate (CAGR) of 5.4% during the forecast period. Banana flour-made by drying and grinding green bananas-is rapidly becoming a staple in gluten-free and plant-based food products. With a growing shift toward clean-label ingredients and dietary alternatives, banana flour is gaining prominence in mainstream food applications including baking, snacks, and baby food.

Banana flour's appeal lies in its natural gluten-free profile, high fiber content, and versatility in both commercial and household kitchens. The food industry leads the market by end-use, commanding a 72.4% share in 2024, largely due to increased use in baked goods, health bars, and pasta products. Asia Pacific stands as the leading geographical segment, projected to hold 36.2% of global revenue share in 2024. Countries like India, Indonesia, and the Philippines contribute significantly to this dominance owing to high banana production and rising consumer awareness of gluten-free diets.

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Key Highlights from the Report

➤ Asia Pacific is expected to dominate with a 36.2% revenue share in 2024 due to high banana production.
➤ Banana flour's gluten-free profile makes it a go-to substitute for health-conscious baking.
➤ The food industry remains the largest end-user segment, capturing 72.4% market share.
➤ Organic banana flour is projected to register a CAGR of 7.98% through 2031.
➤ Rising gluten intolerance and demand for clean-label food drive market expansion.
➤ Companies are forming partnerships with farmers to ensure organic and sustainable sourcing.

Market Segmentation

The banana flour market is segmented based on nature, end-use, and region.

By nature, the market includes organic and conventional banana flour. The organic category is witnessing a rapid surge in demand, favored by health-conscious consumers who prefer chemical-free food ingredients.

In terms of end-use, the food industry dominates the market due to banana flour's widespread use in gluten-free baking and processed food products. Other end-use categories include beverages, retail/household, and others, where banana flour is increasingly being incorporated into smoothies, yogurts, and DIY cooking mixes.

Geographically, the market is divided into North America, Europe, Asia Pacific, Central & South America, and the Middle East & Africa, with Asia Pacific leading in production and consumption.

Regional Insights

Asia Pacific is the top-performing region in the banana flour market, projected to hold 36.2% market share in 2024. This region benefits from the presence of top banana-producing countries like India, China, Indonesia, and the Philippines. The expanding food and beverage industry in this region and growing health awareness among consumers support market growth.

North America and Europe are also emerging as significant markets due to the rising incidence of gluten intolerance, the popularity of organic foods, and the clean-label movement. Increasing demand for functional foods and innovation in baking and snack products fuel growth in these regions.

Meanwhile, Latin America and the Middle East & Africa are expected to witness steady growth owing to the rising trend of healthy eating and increased investments in food processing infrastructure.

Market Drivers

Rising Demand for Gluten-Free Products
The increasing incidence of gluten sensitivity, celiac disease, and preference for gluten-free diets has boosted demand for banana flour globally. Consumers are now more aware of the health effects of gluten and actively seek alternatives like banana flour that provide nutrition without compromising taste.

Health and Nutritional Benefits
Banana flour is high in resistant starch, dietary fiber, and essential vitamins, which aid in digestive health and improve gut microbiota. These functional health benefits align well with the rising interest in clean-label and functional foods, especially among fitness-focused consumers and health-conscious millennials.

Increasing Popularity of Plant-Based Diets
As vegetarianism and veganism become mainstream, consumers are turning to plant-based alternatives like banana flour. It offers a healthy substitute for conventional flours and enhances the texture and flavor of plant-based dishes without the use of artificial additives.

Market Restraints

Limited Consumer Awareness
Despite its nutritional benefits, banana flour remains relatively unknown to a large portion of the global consumer base. Lack of awareness regarding its health advantages and applications in cooking may restrict adoption.

Supply Chain and Production Challenges
Banana flour production depends heavily on climatic conditions and the availability of green bananas. Any disruption in the supply chain-caused by crop diseases, weather changes, or logistical bottlenecks-can impact production volumes and pricing, limiting market scalability.

Market Opportunities

Integration in Functional Foods
The rising trend of functional foods and nutraceuticals presents a tremendous growth opportunity. Banana flour can be incorporated into high-fiber, low-GI, or gut-friendly snack bars, meal replacements, and fortified products, attracting a growing segment of health-aware consumers.

Sustainability and Ethical Sourcing
There is a visible market shift toward sustainably sourced and ethically produced ingredients. Companies that invest in sustainable farming practices, support local banana growers, and offer certified organic banana flour are likely to gain consumer trust and loyalty in the long term.

Reasons to Buy the Report

✔ Comprehensive insights into key market dynamics, growth drivers, and challenges.
✔ In-depth regional and segment-wise market analysis to identify emerging opportunities.
✔ Competitive landscape profiling major players and recent market developments.
✔ Forecast projections backed by credible data and expert analysis.
✔ Strategies for leveraging functional food trends and consumer demand for clean-label products.

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Company Insights

• Natural Evolution
• International Agriculture Group
• Absolute Organic
• Pereg Gourmet Spices
• Saipro Biotech Private Limited
• Banatone Food Industries
• Seawind International LLC
• Woodland Foods
• Hearthy Foods
• Green Enviro Management Systems Inc
• LiveKuna
• Messina Verpakkings
• Miski Organics
• Divine Foods
• APKA Industries
• Banana Health Ltd
• NCEF Technology & FB Tropical Food
• Ceres Organics
• Edward & Sons Trading Co
• Blue Lily Organics LLC

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