New York, June 14, 2023 (GLOBE NEWSWIRE) -- The Europe banana flour market expanded at 4.7% CAGR from 2018 to 2022 and reached a valuation of US$ 293.2 million in 2023. As per Persistence Market Research, sales of banana flour in Europe are projected to grow at 6.4% CAGR and reach US$ 542.9 million by the end of 2033.
Consumption of banana flour in Europe is expected to reach 118,798 tons in 2023 and climb to 210,789 tons by the end of 2033, increasing at a CAGR of 5.9%.
More consumers are looking for innovation when it comes to their diet plans. Banana flour has a distinct flavor profile and qualities when compared to standard wheat flour. This promotes culinary innovation and helps consumers broaden their baking and cooking options.
Celiac disease is a chronic digestive ailment caused by gliadin, a gluten protein present in wheat, rice, oats, and barley. It causes inflammation and damage to the small intestine's inner lining and can lead to mineral and vitamin deficiencies. A gluten-free diet can aid with celiac disease treatment.
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With the rising market for gluten-free products and ingredients, the emergence of novel gluten-free flour is changing the manufacturing environment. It is anticipated to open up nutritional options for celiac disease consumers and benefit banana flour manufacturers in Europe.
Key Takeaways from Market Study
- The European market for banana flour is forecasted to reach US$ 542.9 million by 2033-end.
- The banana flour market in France is anticipated to reach a volume consumption of around 18,957 tons by the end of 2033.
- Based on end use, consumption of banana flour in the beverage industry is projected to grow at a volume CAGR of 6.3% and hold 10.3% volume market share in 2023.
- Demand for banana flour in Italy is expected to account for a volume market share of 6.7% in 2023.
- Revenue generated from the sales of banana flour made by the spray-dried process is valued at US$ 65.1 million for 2023.
- Ripened banana flour is the least utilized with its volume consumption standing at 11,927 tons in 2023.
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“Banana flour manufacturers can gain significant profits by targeting bakery & confectionery producers, as well as the feed industry, due to the recent surge in the use of banana flour in pet food & feed products. As the number of people with gluten intolerance continues to rise, demand for banana flour in gluten-free foods is also increasing,” says a Persistence Market Research Analyst
Competitive Landscape
Key suppliers of banana flour in Europe are utilizing advanced and state-of-the-art manufacturing techniques and focusing on offering high-quality banana flour. Furthermore, manufacturers have adopted cost-effective processes to produce banana four without compromising on quality. Key players in the banana flour market are striving to enhance their supply chain and distribution networks to further expand their customer base.
Top Key Players are TOOTSI IMPEX Inc., Saipro Biotech Pvt. Ltd., Symrise (Diana Food SAS), Natural Evolution, Woodland Foods, Z Natural Foods, Synergy Food Industries, Ceres Organics, TEROVA INC ( NuBana), Paradiesfrucht GmbH (Paradise Fruits), Edward & Sons Trading Co, Medikonda Nutrients, Others ( As per Additional Request)
Recent Developments
- Natural Evolution emphasizes safe production practices to ensure standard product quality. The company's products are manufactured in a high-quality, food-safe plant. Natural Evolution uses precise methods, milling techniques, and temperatures to ensure that its products are delicious and nutrient-dense.
- Saipro Biotech Private Limited prioritizes testing of its products for quality assurance. Professionals use testing tools and instruments to perform a range of verification procedures, right from the procurement of raw materials and extending to sorting, cleaning, blanching, pulverizing, washing, de-watering, cutting, sterilization, drying, and packaging of fine powder.
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Explore More Valuable Insights
Persistence Market Research, in its new report, offers an impartial analysis of the Europe banana flour market, presenting historical data for 2018 to 2022 and estimation statistics for 2023 to 2033.
The study offers compelling insights based on nature (organic, conventional), form (ripened, unripened), process (freeze-dried process, spray-dried process, sun-dried process, drum-dried process, others), end use (food, retail/household, beverage industry, pet food & feed industry), and distribution channel (business to business, business to consumer), across Europe.
For additional insights on how the growth of the Europe banana flour market will shape up over the decade, write to media@persistencemarketresearch.com
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