Banana Powder Market Report 2025

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The banana powder market size has grown strongly in recent years. It will grow from $1.22 billion in 2024 to $1.31 billion in 2025 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to demand for natural food products, rising vegan and plant-based Diets, and rise in infant food products.

The banana powder market size is expected to see strong growth in the next few years. It will grow to $1.75 billion in 2029 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to health consciousness, a rising vegan population, innovation in product development, diversification in end-use applications, and rising demand for functional foods. Major trends in the forecast period include the adoption of sustainable practices, applications in functional foods and beverages, flavor innovation, clean label products, and functional snacking.

The growth of the food and beverage sector is expected to drive the expansion of the banana powder market moving forward. The food and beverage sector includes all businesses involved in the production, processing, distribution, and sale of food and beverages for human consumption. Demand in this sector is rising due to factors such as consumer pricing pressures, economic stability, and increasing demands for food transparency. Companies within the food and beverage industry often highlight various nutritional benefits to attract health-conscious consumers. Banana powder, rich in potassium, fiber, and vitamins, is often promoted as a natural alternative to artificial sweeteners and flavorings. For example, in September 2024, the U.S. Bureau of Labor Statistics (BLS), a federal agency, reported that food spending accounted for 12.9% of total expenditures, marking a 6.9% increase in 2023. This rise followed a 12.7% increase in 2022, driven by higher costs in both food purchased for home consumption, which rose by 6.1%, and food consumed away from home, which saw an 8.1% increase. Consequently, the growth of the food and beverage sector is fueling the expansion of the banana powder market.

Leading companies in the banana powder market are directing their efforts towards developing innovative products to cater to consumer demands for health benefits. Banana powder is finding applications beyond traditional usage, such as in eye creams formulated to offer skincare benefits. Eye creams are specialized skincare products designed to address specific issues around the delicate eye area. For example, Ole Henriksen Skincare introduced the Banana Bright+ Eye Crème! in July 2022, incorporating light-reflecting yellow mineral pigments inspired by banana powder. These pigments instantly brighten the under-eye area, providing immediate illumination and a refreshed appearance. Ole Henriksen Skincare's formulation utilizes advancements in vitamin C technology to enhance brightness and smoothness, offering consumers a vegan and fragrance-free solution with potent vitamin C complexes.

Leading companies in the banana powder market are focusing on launching innovative products, such as gluten-free banana flour, to gain a competitive edge. Gluten-free banana flour is a nutritious flour made from dried, unripe green bananas, known for its high dietary fiber content and mild banana flavor, making it an excellent choice for gluten-sensitive diets. For example, in July 2022, The Silver Banana Company Inc., a company based in the Democratic Republic of São Tomé and Príncipe specializing in craft preserves, jellies, marmalades, and flour, introduced BANANADINE, a gluten-free banana flour made from organically grown, unripened green bananas. This product was designed to reduce food waste by utilizing rejected bananas and their peels. BANANADINE is USDA Organic, Non-GMO, Vegan, and Kosher certified, containing nearly 60% dietary fiber and no sugar, making it a healthy alternative for baking. The flour has a mild banana flavor and can be used in a variety of recipes, such as pasta and pancakes.

Major companies operating in the banana powder market are Corteva Inc., Fresh Del Monte Produce Inc., Chiquita Brands International Sàrl, Dole plc, Taj Agro International, Kanegrade Limited, Vinayak Ingredients Pvt. Ltd., Santosh Food Products, Nutraceuticals International Group, National Food N Spices, Naturalin Bio-Resources Co. Ltd., Safety Foods Pvt Ltd., NuNaturals Inc., Naturya, Biovitals Ingredients, AayurMed Biotech Pvt. Ltd., Coliman Group, Mevive International, Cool Milling Ventures Corporation, Banatone Industries, Aarkay Food Products Ltd., Saipro Biotech Pvt. Ltd., Perennial Lifesciences Private Limited, Royal Nut Company, Varmora Food Pvt Ltd., Sumitomo Corporation, GRUPO JUGAL Inc.

North America was the largest region in the banana powder market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the banana powder market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the banana powder market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The banana powder market consists of sales of banana powder extracts, banana leaves, banana peel, organic banana powder, and baby food. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

Banana powder is a derived product from bananas, usually produced by drying ripe bananas and finely grinding them into a powder form. This process preserves much of the nutritional content and flavor found in fresh bananas, including essential vitamins, minerals, and dietary fiber. It serves as a natural ingredient in a variety of food and beverage products, including nutritional supplements.

The primary methods of processing banana powder include freeze-dried, spray-dried, sun-dried, drum-dried, and others. Freeze-dried banana powder is created by freezing the fruit and subsequently extracting moisture through a process known as sublimation. These products are available through various distribution channels such as supermarkets, convenience stores, and online platforms, and find applications across multiple industries including the food industry, cosmetics, beverages, pet food and feed, as well as household applications.

The banana powder market research report is one of a series of new reports that provides banana powder market statistics, including banana powder industry global market size, regional shares, competitors with a banana powder market share, detailed banana powder market segments, market trends and opportunities, and any further data you may need to thrive in the banana powder industry. This banana powder market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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