Improving retail infrastructure, soaring GDP and increasing usage of cosmetics, baby food and confectionery are expected to boost the demand for banana powder market
HYDERABAD, TELANGANA, INDIA, Aug. 31, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, the banana powder market size is expected to reach $1.6 billion by 2027 growing at a CAGR of 3 .9% during the forecast period 2022-2027. Banana pulp, which is processed using a colloid mill, is considered for making banana powder. The report offers a comprehensive analysis of the market, its main segments, growth factors, trends, drivers and challengers, key players and more.
Key points to remember:
1. Geographically, the Asia-Pacific banana powder market accounted for the highest revenue share in 2021. The growth is due to undisturbed supply due to high production of bananas in Asian countries, the increased disposable income of people, colossal population, stunted youth, and improved retail network.
2. Rising demand for carbohydrate-rich foods, growing popularity of ready-to-drink beverages and confectionery products, improving quality of life in low-income countries like China, Indonesia and India, Growing internet penetration in impoverished areas, increasing number of smartphone users, and innovative marketing strategies are believed to be the major driver for the growth of the banana powder market. A plethora of alternatives, rising cost of living, surprising post-covid-19 unemployment, and environmental calamities would reduce market growth.
3. A detailed analysis of the strengths, weaknesses and opportunities of key players operating in the market will be provided in the Banana Powder Market report.
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1. The nature-based banana powder market can be further segmented into conventional and natural. The conventional segment held the largest share in 2021. The natural segment is estimated to be growing the fastest with a CAGR of 5.4% over the forecast period 2022-2027.
2. The banana powder market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America and Rest of the World. Asia-Pacific held the largest share with 41% of the global market in 2021. With more than 30 million tons of annual production (about 26% of total world production), India is the leading producer of bananas in the world. world.
3. The online segment is estimated to be the fastest growing segment with a CAGR of 4.7% over the forecast period 2022-2027. Technological breakthroughs and advancements such as high-speed internet, 3D mapping and mobile payment have revolutionized the retail industry and completely changed the shopping behaviors of consumers, especially millennials.
Top 5 Players in the Banana Powder Industry are –
1. NuNaturals Inc.
2.Aarkay Food Products Ltd.
3. Mevive International
4. Naturalin Bio-Resources Co Ltd.
5. Banatone Food Industries Kochuveli
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A. Fruit Pulp Market
B. Banana Flake Market
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