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Banana Flour Market to grow at a rate of 4.2% CAGR through 2032
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The banana flour market is set to grow at 4.2% CAGR by 2032, with MEA leading at 45% market share. Driven by gluten-free trends, demand is rising globally.
The market is projected to grow at a rate of 4.2% CAGR through 2032 with a projection value of USD 865 million. The Middle East and Africa (MEA) is the largest market for banana flour market and holds a 45% share in the global market. Conventional green banana flour is the largest in the product type segment and is valued at USD 435 Mn currently.
Predominantly driven by the gluten-free wave trending in the food and beverages industry, alternative flours such as banana four are slated to witness steadily growing popularity over the next few years. According to a recent market research intelligence on banana flour, Future Market Insights expects that rising consumption of green (cooking) banana and soaring demand for banana flour for dressings, condiments, and sauces will prominently drive the growth of banana flour over the forecast period.
The betterment in the market scenario with increasing adoption of banana flour in bakery and other end uses, will encourage the manufacturers and key businesses to be more innovative.
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While the demand for banana flour as a replacement for wheat flour has been consistently growing in the food and beverages industry, previous growth estimates failed to account for changes in cropping and consumption patterns witnessed in 2020 as a result of the Covid-19 pandemic. The most enduring effect of the pandemic on banana flour is in the form of small banana plantations increasing in several countries. This includes even countries like Saudi Arabia, where banana cultivation had hitherto been an almost alien concept.
Global Banana Flour Market: Competitive Landscape
The research report covers details about major players in the industry. It provides the readers with a brief profile of the key players. Some of the major companies mentioned in the report are Zuvii, NuNatural Inc., Diana Foods, NOW Health Group Inc., Paradisefrucht GmbH, Kanegrade Ltd, ADM Wild Europe GmbH & Co. KG, International Agriculture Group, Stawi Foods and Fruits Limited etc.
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Global Banana Flour Market: Segmental Analysis
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Table Of Content
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis and Recommendations
1.4. Wheel of Fortune
2.1. Market Definition
2.2. Market Taxonomy
3.1. Macro-Economic Factors
3.2. Value Chain
3.3. Opportunity Analysis
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The article discusses the growth and trends in the banana flour market, projected to grow at a 4.2% CAGR through 2032.
The growth is driven by the gluten-free trend and increasing demand in the food and beverages industry.
The Middle East and Africa (MEA) is the largest market, holding a 45% share globally.
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