According to IMARC Group’s latest report, titled “Banana Powder Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global market reached a value of US$ 1,070 Million in 2021. Banana powder is obtained from raw bananas by removing their moisture content. This prolongs the shelf life of the processed product and helps in minimizing post-harvest losses while retaining the nutritional value of fresh bananas. Banana powder is rich in potassium, protein, vitamins, dietary fibers, resistant starch, etc. It aids in improving digestion, strengthening bones, regulating blood pressure, relaxing muscles, preventing dehydration, etc. Various sectors, including food and beverages, pharmaceutical, cosmetics, animal feed, etc., widely utilize banana powder based on its beneficial properties.
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The expanding food and beverage sector is one of the primary factors driving the global market due to the increasing utilization of banana powder in preparing numerous beverages, such as smoothies and milkshakes. Moreover, the shifting preferences of millennials and the working population towards convenient and nutritional on-the-go drinks are further strengthening the global market. Banana powder is also gaining traction as a healthier alternative to wheat flour in various bakery products. Moreover, due to the growing popularity of natural and organic personal grooming trends, numerous skincare items are increasingly using banana powder as an ingredient. Besides this, the rising product utilization in animal feed production to improve the gut health of cattle is anticipated to bolster the global banana powder market in the coming years. Looking forward, IMARC Group expects the banana powder market to reach US$ 1,651 Million by 2027, exhibiting at a CAGR of 7.3% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Chiquita Brands International Sàrl
- Fresh Del Monte Produce Inc.
- Dole Food Company, Inc.
- Fyffes plc
- Grupo Noboa S.A.
Breakup by End Use:
- Food Industry
- Feed Industry
- North America
- Asia Pacific
- South America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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