Global Banana Powder Market Overview 2017, Demand by Regions, Types and Analysis of Key Players

The global banana powder market has experienced a healthy growth in the past few years. The major factors driving the growth of the market are its diverse applications in different industries such as food, cosmetic and pharmaceutical.

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The latest report by IMARC Group, titled “Banana Powder Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global banana powder market reached a volume of 222 Thousand Tons in 2016, exhibiting a CAGR of 7% during 2009-2016. Banana powder is made from processed bananas by using a colloid mill. Processing of bananas into powder increases their shelf life and reduces the transportation cost for export and import purposes. Banana is the primary source of various nutrients such as vitamin C, magnesium, antioxidants and carbohydrates. Owing to this, banana powder finds applications in diverse sectors such as food, pharmaceutical, cosmetic and animal feed. As it also helps babies to gain weight, banana powder is extensively used in the production of baby foods.

Highlights of the global banana powder market:

Diverse applications of banana powder in different industries have contributed to the market growth.

Based on end-use, the food industry dominates the market, holding the majority of the total consumption.

The market is anticipated to reach a volume of 298 Thousand Tons by 2022.

Banana powder has various uses in both the food and non-food industries. Currently, the food industry represents the largest consumer of banana powder where it finds application in several food products such as cold food, instant food, seasonings, infant food, solid beverages, puffed food, cakes, etc. The flourishing food industry is majorly driving the growth of the market. Further, banana powder is used in the animal feed industry for cattle, shrimp, fish, pig and pet food. It is also used in the pharmaceutical sector owing to its several health-benefits. It can be used in the treatment of intestinal disorders, indigestion, depression, and helps in strengthening bones, vision improvement, regulating blood pressure, etc. Further, banana powder has moisturizing properties, thus it is used in the production of cosmetic products. Owing to these factors, the market is further expected to reach a volume of 298 Thousand Tons by 2022.

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The market has been segregated on the basis of region. It has been found that although bananas are produced worldwide, the exports and imports are concentrated within a few countries. The leading exporting regions of bananas include Costa Rica, Ecuador, Guatemala, Philippines and Colombia which account for the majority of the total exports. Apart from this, the market has been further segmented on the basis of end-use. At present, the food industry is the leading consumer of banana powder, accounting for the majority of the total global consumption. It is followed by feed industry and others. On analysing the competitive landscape of the market, the key players found are Del Mote, Chiquita, Noboa, Dole and Fyffes.

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