IMARC Group, a leading market research company, has recently released a report titled “Banana Powder Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global banana powder market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the Banana Powder Market?

The global banana powder market size reached US$ 1,147.0 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,731.1 Million by 2028, exhibiting a growth rate (CAGR) of 6.9% during 2023-2028.

What is Banana Powder?

Banana powder is a dry, finely-ground substance made from dehydrated bananas. It is rich in essential nutrients such as potassium, vitamin A, and vitamin C. The powder is commonly used as a dietary supplement, as an ingredient in baby foods, and for culinary purposes in smoothies, baked goods, and sauces. Its natural sweetness and flavor make it a versatile addition to various recipes. Additionally, it serves as an effective substitute for fresh bananas for people who have difficulty in storing or transporting the fruit. Banana powder is also used in the cosmetic industry as an ingredient in face masks and skincare products. It has a long shelf-life, thus making it convenient for both commercial and domestic use.

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What are the Growth Prospects and Trends in the Banana Powder Industry?

The increasing use of banana powder in skincare products represents one of the key factors driving the growth of the market across the globe. Banana powder is rich in antioxidants and provides skin-beneficial properties, which makes it a desirable component in cosmetics like face masks and creams. The rich nutritional profile of banana powder, including essential vitamins and minerals like potassium, magnesium, and vitamin C, appeals to health-conscious consumers. This is fueling its use in dietary supplements and functional foods. The versatile nature of banana powder makes it a popular ingredient in smoothies, desserts, and baked goods. Its ability to impart flavor without adding moisture is particularly valuable in the food industry. Banana powder is commonly used in baby foods due to its high nutritional value and easily digestible nature. As the global baby food market expands, the demand for banana powder is rising in tandem. The easy availability of banana powder through online retail platforms is making it accessible to a wider audience, which is boosting its market growth.

Who are the Key Players Operating in the Banana Powder Market?

The market is highly fragmented with the presence of many small and large players who compete in terms of prices and quality. Some of the leading players operating in the market are:

• Chiquita Brands International Sàrl
• Fresh Del Monte Produce Inc.
• Dole Food Company, Inc.
• Fyffes plc
• Grupo Noboa S.A.

What is Included in Market Segmentation?

The report has categorized the market based on end use.

Breakup by End Use:

• Food Industry
• Feed Industry
• Others

Regional Insights:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)

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Key Highlights of The Report:                                                    

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• 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.

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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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