Banana Powder Market Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)

The global banana powder market reached a value of nearly USD 1.44 billion in 2024. The market is assessed to grow at a CAGR of 7.10% during the forecast period of 2025-2034 to attain a value of around USD 2.87 billion by 2034. The market growth can be attributed to the growing production of bananas, the rising demand for banana powder in the food industry, the increasing consumer focus on health-enhancing food, the robust growth of the cosmetics sector, technological advancements and innovations, and the surging focus on sustainability.

Global Banana Powder Market Growth

The banana powder market is being driven by the growing product demand in the food industry. Banana powder is largely used in confectionery applications for the production of cakes, breads, pastries, and ice cream preparations, among others. In addition, banana powder also finds usage in infant food products, as it is easy to digest and is rich in potassium and other nutrients. Meanwhile, the demand for banana powder is also growing in animal feed preparations with the expanding livestock population worldwide.

The market is being aided by the rising consumer focus on health-enhancing food to improve digestion, immunity, and overall physical health. Banana powder is a rich source of carbohydrates, antioxidants, and essential vitamins. Another major factor supporting the market growth is the improved shelf-life of banana powder and reduced post-harvest losses of bananas.

The increased utilisation of banana powder to prepare cosmetic products is anticipated to propel the banana powder market expansion in the forecast period. For instance, major cosmetics manufacturers such as Maybelline have launched banana-based setting powders, which help set the make-up effectively and also provide a matte finish. Furthermore, the growing research activities in analysing the use of banana powder in the pharmaceutical sector are expected to create lucrative growth opportunities for the market in the forecast period.

Key Trends and Recent Developments

Health benefits of banana powder; rising use of banana powder in the food and beverage sector; growing focus on sustainability; and technological advancements are driving the banana powder market expansion.

November 2024

A banana powder processing unit was launched in Burhanpur, Madhya Pradesh, India, under the brand name "Bananifi". The unit aims to produce edible powder (from banana pulp) for human consumption and plain powder (made from banana peel) for use in manure.

September 2024

Research conducted by Monash University Malaysia, AMILI Singapore, and Dole Specialty Ingredients found that the supplementation of green banana powder raised the amount of seven health-promoting bacteria species from baseline.

January 2021

The ICAR- National Research Centre for Banana (NRCB), Trichy, developed a new drying technology as an alternative to the spray and freeze-drying technique for banana pulp to produce banana powder. The technique can be a feasible solution for the utilisation of over-ripe and market-rejected bananas for producing cost-efficient banana powder.

Growing Demand for Organic and Natural Products

Consumers are increasingly seeking organic and natural banana powder amid growing concerns regarding the use of preservatives and synthetic additives in foods.

Health Benefits of Banana Powder

Banana powder is rich in potassium, dietary fibre, and minerals. The rising consumer awareness regarding the nutritional advantages of banana powder and the growing trend of health and wellness are prompting customers to incorporate it into their diets.

Rising Use of Banana Powders in Food and Beverage Applications

Banana powder serves as a natural and gluten-free solution to enhance the nutrition and flavour of foods and beverages, including confectioneries, beverages, infant foods, and bakery items. The rising use of banana powder as a flavouring, colouring agent, and natural sweetener in food and beverage applications is further aiding the market.

Increasing Focus on Sustainability

The rising focus on sustainability is bolstering the popularity of banana powder as an eco-friendly product. The production of banana powder supports zero-waste initiatives as the fruit can be processed into a shelf-stable product that lowers food waste in regions with high banana production.

Global Banana Powder Market Trends

Advancements in hot drying technologies, involving the utilisation of controlled temperatures and airflow to produce high-quality banana powder with minimal nutrient loss, are driving the market. Manufacturers are also using spray drying to preserve the colour, nutritional content, and texture of banana powders. Moreover, there is a rising use of high-pressure processing (HPP) technology to preserve the texture, flavour, and nutritional content of bananas without the need for heat.

With the rising emphasis on sustainability, manufacturers are increasingly sourcing bananas from sustainable farms that prioritise eco-friendly farming practices, including conservation of water, reduction of pesticide use, and protection of biodiversity. Banana powder producers are also adopting renewable energy sources such as wind energy, solar power, or biomass energy into their production facilities to reduce the reliance on fossil fuels.

Global Banana Powder Industry Segmentation

The report titled “Global Banana Powder Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Source

• Organic
• Conventional

Market Breakup by Process Type

• Freeze Dried
• Spray Dried
• Others

Market Breakup by Sales Channel

• Direct Sales
• Indirect Sales

Market Breakup by End Use

• Food Industry
• Feed Industry
• Others

Market Breakup by Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Global Banana Powder Market Share

As per the banana powder market analysis, direct sales eliminate the reliance on third-party retailers and distributors, enabling manufacturers to capture a large share of the profit. This method offers valuable data and insights on customer preferences to brands, helping them improve their product offerings and fostering deeper connections with customers. Meanwhile, indirect sales enable manufacturers to leverage the extensive networks and reach of established distributors, online marketers, and retailers, reaching a larger consumer base.

Competitive Landscape

Key banana powder market players are developing innovative products, such as flavoured banana powders and organic banana powders, that combine bananas with healthy ingredients such as probiotics and superfoods. They are also investing in research activities to improve the processing of banana powder and developing functional banana powder with additional health benefits such as weight management and digestive support.

Symrise AG

With its headquarters in Germany, Symrise creates, manufactures, and markets food, fragrance, and flavoring ingredients as well as raw materials and active chemicals for cosmetics and functional compounds and solutions that improve the nutritional value and sensory qualities of a variety of products. Symrise is one of the leading suppliers in the F&F sector globally, holding a 12 percent market share as of 2024.

Taj Agro International (Taj Pharma Group)

A Mumbai-based food processing firm focused on exports, Taj Agro produces and sells a wide range of protein powders, egg powders, bulk frozen foods, and IQF fruits and vegetables in accordance with customer specifications.

Mevive International

Founded in 2009 and headquartered in Tamil Nadu, India, Mevive International is a prominent Indian Spices & Seasoning Export House. The business is a full-service exporter that is expanding in the food sector. It offers value-added services and has a global presence in more than 25 countries. It is also accredited for organic trade.

Vinayak Ingredients (INDIA) Pvt. Ltd.

The Indian company Vinayak Ingredients (INDIA) Pvt. Ltd. was founded in 1977 and produces specialty food and feed additives. They produce environmentally safe and sustainable products from natural sources, including natural colors, spray-dried fruit and vegetable powders, and natural extracts. Additionally, the company offers water-soluble and oil-soluble pigments in liquid and powder form, making them appropriate for practically all food and cosmetic applications.

Other players in the market are Saipro and Hearthy Foods, among others.