The banana flakes market in North America is expected to grow from US$ 167.25 million in 2019 to US$ 232.91 million by 2027; it is estimated to grow at a CAGR of 4.4% from 2020 to 2027.
The rising usage of banana flakes by food and beverage sector is also bolstering the growth of food and beverage industry. The demand for banana flakes in the food & beverage industry is drastically increasing owing to its application in ice creams, juices, desserts, breakfast cereals, salads, yogurt, and many others. The consumers demand banana flakes in the aforementioned food products owing to their health benefits. For the last few years, there has been a significant demand for banana flakes from bakery sector in developed and emerging countries. The sweet and snacks industry is also exploiting banana flakes for the production of healthy bars and sweets. The substantial farming of bananas across several regions is among the other factors expected to positively influence the demand for Banana Flakes.
In terms of application type, the household segment is estimated to grow at the fastest rate during the forecast period. Banana flakes are widely being used owing to the increasing awareness about the low fat and gluten content along with its various health benefits. Banana flakes are mixed with cereals and consumed as breakfast. They are also taken to be a healthy evening snack and are eaten regularly due to its low fat content. Homemade face masks are prepared using banana flakes to control acne problems. It also helps in strengthening the hair and reduce hair fall owing to the high potassium content. Further, banana flakes are also used as sprinkler to enhance the taste of foods such as homemade custards, ice creams, cakes, smoothies, and yogurt. Besides this, banana flakes are capable of thickening beverages and hot cereals. The use of banana flakes in household cooking relives pain and burning symptoms of occasional heartburn. It also helps in stimulating appetite. The health benefits along with diversified end-use applications across several industries drive the growth of banana flakes market.
With the outbreak of COVID-19, the North America region is likely to get affected with respect to the economic growth. Although, US is the global manufacturing hub and leading raw material supplier for various industries, it is one the worst affected countries due to the COVID-19 outbreak where all business operations are halted due to nationwide lockdown. Food & beverages is one of the world’s major industries facing severe disruptions in the form of event cancellations, supply chain breaks, travel bans, business shutdowns, and lockdowns were imposed by the governments across North America, which is anticipated to affect the expected revenue generation and overall growth opportunities in North America.
The overall North America banana flakes market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the North America banana flakes market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America banana flakes market. Z Natural Foods, Van Drunen Farms, P & G Industries, Ingredient Inc., and Diana Group are among the key players in the North America banana flakes market.
Reasons to Buy
The rising usage of banana flakes by food and beverage sector is also bolstering the growth of food and beverage industry. The demand for banana flakes in the food & beverage industry is drastically increasing owing to its application in ice creams, juices, desserts, breakfast cereals, salads, yogurt, and many others. The consumers demand banana flakes in the aforementioned food products owing to their health benefits. For the last few years, there has been a significant demand for banana flakes from bakery sector in developed and emerging countries. The sweet and snacks industry is also exploiting banana flakes for the production of healthy bars and sweets. The substantial farming of bananas across several regions is among the other factors expected to positively influence the demand for Banana Flakes.
In terms of application type, the household segment is estimated to grow at the fastest rate during the forecast period. Banana flakes are widely being used owing to the increasing awareness about the low fat and gluten content along with its various health benefits. Banana flakes are mixed with cereals and consumed as breakfast. They are also taken to be a healthy evening snack and are eaten regularly due to its low fat content. Homemade face masks are prepared using banana flakes to control acne problems. It also helps in strengthening the hair and reduce hair fall owing to the high potassium content. Further, banana flakes are also used as sprinkler to enhance the taste of foods such as homemade custards, ice creams, cakes, smoothies, and yogurt. Besides this, banana flakes are capable of thickening beverages and hot cereals. The use of banana flakes in household cooking relives pain and burning symptoms of occasional heartburn. It also helps in stimulating appetite. The health benefits along with diversified end-use applications across several industries drive the growth of banana flakes market.
With the outbreak of COVID-19, the North America region is likely to get affected with respect to the economic growth. Although, US is the global manufacturing hub and leading raw material supplier for various industries, it is one the worst affected countries due to the COVID-19 outbreak where all business operations are halted due to nationwide lockdown. Food & beverages is one of the world’s major industries facing severe disruptions in the form of event cancellations, supply chain breaks, travel bans, business shutdowns, and lockdowns were imposed by the governments across North America, which is anticipated to affect the expected revenue generation and overall growth opportunities in North America.
The overall North America banana flakes market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the North America banana flakes market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America banana flakes market. Z Natural Foods, Van Drunen Farms, P & G Industries, Ingredient Inc., and Diana Group are among the key players in the North America banana flakes market.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America Banana Flakes market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the North America Banana Flakes market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the Banana Flakes market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Table of Contents
1. Introduction
3. Research Methodology
4. Banana Flakes Market Landscape
5. Banana Flakes Market - Key Market Dynamics
6. Banana Flakes- North America Market Analysis
7. Banana Flakes Market Analysis - By Nature
8. Banana Flakes Market Analysis - By Application
9. North America Banana Flakes Market Analysis - By Distribution Channel
10. Banana Flakes Market - Country Analysis
11. Impact of COVID-19 Pandemic on North America Banana Flakes Market
12. Key Company Profiles
13. Appendix
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Z Natural Foods
- Van Drunen Farms
- P & G Industries
- Ingredient Inc.
- Diana Group
