Global Banana Flakes Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Banana Flakes Market 2021 (Includes Business Impact of COVID-19)
Global Banana Flakes Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global banana flakes market report has been segmented on the basis of nature, distribution channel, application, and region.
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The banana flakes market was valued at US$ 850.06 million in 2020 and is projected to reach US$ 1406.51 million by 2030; it is expected to grow at a CAGR of 5.26% from 2020 to 2030.


Global Banana Flakes Market: Overview


Banana is an important fruit that is consumed widely throughout the world. It has unique flavor and food value such as high source of fiber. In addition, it is an excellent source of vitamins A, B6, C, and D. Banana is the common name for herbaceous plants of the genus Musa and for the fruit that is being produce. It come in a variety of sizes and colors, including yellow, purple, and red


Global Banana Flakes Market: Dynamics


A major factor driving growth of the global banana flakes market is growing demand for healthy food.

In addition, increasing population worldwide, higher demand for diverse nutritional and dietary food, rising disposable income level, rising living standards are some other factors expected to drive the growth of the target market over the forecoming years.

Furthermore, rising concerns regarding health and healthy food owing to increasing incidences of diet and lifestyle related diseases and disorders is another factor expected to boost the demand for banana flakes. According to a report published by Health Volunteers Overseas in 2018, Asthma affects approximately 315 million people globally, and is regarded as one of the most common chronic diseases around the world.

However, product recalls owing to presence of Salmonella -an organism that may cause serious and fatal infections epically in young children, elderly people, and others is a major factor expected to restraint growth of the target market over the forecast period.


Global Banana Flakes Market: Trends


Prominent manufacturers in the target market are focusing on boosting the fruity flavor profiles for bunches products, cereals and sweets. In addition, the company are adoption extensive expansion strategy by launching new product and expending its geographical footprints.

For instance, in December 2018, Kelloggs launched new flavor ˜Banana Creme Frosted Flakes to its line up Frosties Frosted Flakes


Global Banana Flakes Market: Segment Analysis


On the basis of nature, organic segment is expected to register fastest revenue growth in the next ten years, owing to growing customer trends towards organic food and increasing per capita income level. On the basis of distribution channel, online segment is expected to witnessed highest CAGR, owing to higher penetration of smart phones and internet. On the basis of application, household segment is expected to hold a major revenue share, owing to growing awareness regarding health lifestyle.


Global Banana Flakes Market: Regional Analysis


In 2018, the market in Asia Pacific is expected to accounted for the high revenue share in the global market. This is primarily due to, trend of healthy breakfast and quick bites among individuals. In addition, higher usage of banana flakes in different types of products such as ice creams and other desserts in countries in the region is a factor expected to drive the growth of the Asia Pacific banana flakes market. The markets in Europe is expected to account for moderately high revenue growth in the global market, followed by Latin America, and Middle East & Africa markets in the global banana flakes market.

Global Banana Flakes Market Segmentation:

Segmentation by nature:

  
Conventional
  
Organic

Segmentation by distribution channel:

  
Online
  
Offline

Segmentation by application:

  
Household
  
Food and Beverages
  
Others


Key Market Players included in the report:


  
Bata Foods B.V
  
BIOVEA
  
Chiquita Brands International
  
Dermasal
  
Diana Group
  
Futurcorp S.A
  
Ingredient Inc.
  
Johns Thoms GmbH & Co. KG
  
Naturkostbar KG
  
Orchard Valley Foods Limited
  
P&G Food Industries
  
Rabeler Fruchtchips GmbH.
  
Top Line Foods
  
Van Drunen Farms
  
Z Natural Foods LLC


Below are the key development related to Banana Flakes Market in 2020 and 2021.


March 2021: Snack-makers Ka-Pop! and Bubba’s Fine Foods merge. The companies behind the Northern Colorado snacks Ka-Pop! and Bubba’s Fine Foods are merging and opening a new contract-manufacturing operation for other snack-makers at the same time. The new company, called Awakened Foods LLC, will act as a holding company for the two snack brands and operate a separate private-label manufacturing line out of the Bubba’s plant in south Loveland — at 225 42nd S. SW — under the name Awakened Food Crafters. Source