The banana flakes market is experiencing a significant growth, and is expected to grow considerably in the next few years. Banana flakes are made from naturally ripened bananas, which are dehydrated. They are preferred in various industries and applications due to its high content of minerals such as potassium, zinc, calcium, iron, and magnesium; high levels of vitamins such as A, B, B6, C, and E; and great taste intact with the health and nutritious. Banana flakes have wider range of applicability in food & beverages industry such as making smoothies, desserts, and baby foods. The banana flakes are categorized as the gluten-free product, which paves the way for its growth and innovation because of people being more health conscious. The major growth driver for the banana flakes market is the diet conscious consumers as the banana flakes are the best source of resistance starch.

COVID-19 Impact analysis

The COVID-19 outbreak has impacted the banana flakes market badly. The banana flakes industry has faced major disruptions in the form of supply chain, office closures, and shutdowns and event cancellations.
Moreover, COVID-19 has led to a huge slowdown in demand for banana flakes as China being the global manufacturing hub has been impacted majorly with COVID-19. There has been shut downs and closures of factories and manufacturing plants in the country, which is directly or indirectly impacting the supply chains.
The growth of banana flakes industry is considerably attributable to the Asia-Pacific as in this region consumers are being more diet and health conscious, which further gives rise to the healthy and nutritional food industry.

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Top Impacting Factors

Surge in the demand for organic food products is one of the major factors that leads to the growth of the banana flakes market. Moreover, increase in health-conscious consumers fuels the growth of the organic and gluten-free products markets.
However, COVID-19 is the major factor that leads to slowdown of the banana flakes market as the factories and plants are being shut.
Furthermore, increase in banana farming across the regions boosts the production of bananas. Therefore, increase in investments in the banana flakes industry and market has been witnessed over the past few years.

Market Trends

Increase in health-conscious consumers

New products that contain improved capabilities have been launched by leading market players. The banana flakes being one of the products are the best source for minerals and vitamins that provide good health. Increase in health-conscious consumers nowadays provides lucrative opportunity for the development of this product due to its health benefits.

The banana flakes being rich source of calcium and proteins are being preferred by consumers to build a healthy lifestyle. The covid situation has also led to the awareness of the benefits of being healthy and staying fit and having a boosted immune system.

Rise in demand of banana flakes

There has been rise in demand and consumption rate in banana in varied forms. The banana being a fruit with its natural smooth texture is being used by food & beverages industries for the production and innovation of new and healthier snacking for health and diet conscious consumers.

The consumers refer to the banana flakes as a healthier snack, which is the important growth driver. This is the major factor contributing toward the innovation and development of the new, healthier, and tastier snacks.

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Key Benefits of the Report

This study presents the analytical depiction of the banana flakes industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the banana flakes market share.
The current market is quantitatively analyzed from 2020 to 2028 to highlight the banana flakes market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed banana flakes market analysis based on competitive intensity and how the competition will take shape in coming years

Companies Covered: BarBardakci Group, johs.Thoms, Van Drunen Farms, Diana Foods,Rabeler Fruchtchips, Ingredient, Z Naturals, Orchard Valley Foods Limited, P&G Food Industries, and Spain Food Beverages