The popularity of banana powder is rising as a result of long shelf life and high concentration of calories and nutrients. The growth in the global banana powder market is accentuated owing to its several applications in the food, healthcare, animal feed, cosmetics industries, etc.
A report published 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 has recorded a CAGR of 7% during 2009-2016, reaching a value of 222 Thousand Tons in 2016. Banana powder is made from bananas after processing its pulp using a colloid mill and turning it into powder. This method aids in increasing the shelf life of bananas, along with helping in transportation for the exports and import purposes. According to the report, the market is further expected to reach a value of 298 Thousand Tons by 2022.
The global banana powder market is driven by several factors which are increasing its popularity among the consumers worldwide. Banana powder is used in a number of food and non-food industries. The food and beverage industry represents the largest consumer of the banana powder and employs it in various food products such as infant food, puffed food, seasonings, solid beverages, cakes, cold food, instant food, etc. In the healthcare industry, banana powder aids in preventing and treating many diseases. It is effective in the treatment of colon diseases, intestinal disorders in adults, carbohydrate intolerance in children, etc. Banana powder also assists in neutralizing the dark under eye circles and gives a smother texture to the skin. Along with this, its high content of minerals and dietary fibres helps in providing a wholesome meal for infants. Banana powder is also used extensively in the animal feed industry for the livestock such as shrimp, fish, pig and cattle.
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The report has segmented the banana market on a regional basis. It has been found that although bananas are produced in more than 100 countries around the globe, the exports and imports are concentrated within a few countries. The major exporting regions include Ecuador, Costa Rica, Philippines, Indonesia, United Republic of Tanzania, Colombia, etc. Currently, Ecuador, Costa Rica, Philippines, Guatemala and Colombia are the largest exporters of bananas accounting for the majority of the total world exports. Apart from this, the report also conducts a thorough evaluation of the market on the basis of end-use. Currently, the food industry is the largest consumer of banana powder estimating around 85% of the total global consumption. It is followed by feed industry, cosmetic industry and pharmaceutical industry. The report also analyses the competitive landscape of the market with the key players being Chiquita, Del Mote, Dole, Fyffes and Noboa.
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The report provides a comprehensive analysis for setting up a banana powder processing plant. The study covers all the requisite aspects of the chickpeas industry and provides an in-depth analysis of the banana market, industry performance, processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. It also offers SWOT, Value Chain and Porter’s Five Forces analysis and regional segmentation followed by an analysis of the competitive landscape. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the banana powder industry in any manner.
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