Analysis of Potential Impact of COVID-19 on Banana Flour Market
Banana Flour Market: Introduction
Banana is the second largest produced fruit after citrus which contributes about 16% of the world’s total fruit production. It is favorable for industrial processing due to its various rich characteristics such as low acidity, a large content of soluble solids, and minerals. The consumption of banana is less than its production, so to increase waste utilization of food products and converted into various innovative products such as banana flour. The banana flour is a powder made of green bananas which are often used as a replacement for wheat flour. It promotes the growth of good bacteria in the gut and can also assist with weight loss. It is mostly used in India and Africa as a cheaper alternative to wheat flour. It has a texture similar to wheat flour and also requires about 25% less volume. The banana flour is produced from banana when the fruit is unripe as it is rich in dietary fiber, resistant starch, and aids in colon health. Apart from these, it also helps to minimize postharvest losses, prevention of osteoporosis by increasing the absorption of calcium and other minerals and retains the nutritive value of fresh bananas.
Banana Flour Market: Dynamics
One of the significant factors contributing towards the growth of banana flour market is continuous new product development and improved distribution channel that supports the wide availability of banana flour in the market. Another factor towards the growth of the market is the banana flour prepared using fruits at different stages of ripening has been shown to behave differently during manufacture of food products such as bread, cakes, pastries, pancakes, pasta etc. The banana flour prepared at different stages of ripeness can help the food processors to control the quality of food incorporated with banana flour. Moreover, it boosts the immune system and maximizes other benefits because it serves as a carrier of probiotics to the large intestine, which can be a major factor towards the growth of banana flour market. In addition to this, banana flour also contains the high amount of nutrition such as calcium, potassium, reducing sugars and others which aids in curbing the craving for nicotine, caffeine and also helps in better blood circulation.
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Banana Flour Market: Segmentation
The banana flour market can be segmented on the basis of end use, characteristics, application and distribution channel. On the basis of end use, the banana flour market can be segmented into commercial use and residential use. On the basis of characteristics, the banana flour market can be segmented into highly nutritious, low acidity, rich in dietary fiber, resistant starch, and others. On the basis of application, the banana flour market can be segmented into food products such as cakes, pastries, pasta, pancakes, and others. On the basis of a distribution channel, the banana flour market can be segmented into direct sales and indirect sales. The indirect sales market can be further sub-segmented into the hypermarket, supermarket, convenience stores, online retailers and others.
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Banana Flour Market: Regional Outlook
On the basis of the regional outlook, banana flour market is segmented into five different regions: North America, Latin America, Europe, Middle East and Africa and Asia Pacific. On analyzing the banana flour market at the global level, North America and Asia-Pacific are expected to have the significant growth as they are the largest producer of banana flour across the globe. In Europe, although it has very small banana flour production but has the largest consumption of various banana flour products. Latin America and the Middle East and Africa are expected to have the considerable growth in the near future.
Banana Flour Market: Key Player:
Some of the major players operating in banana flour market include Zuvii, Pereg Gourmet Spices, Nutritive, Stawi Foods and Fruits Limited, Natural Evolution, M-Pak, International Agriculture Group, Now Foods, Ceres organics
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