Bananas have been utilized as the part of BRAT diet for the treatment of diarrhea. The soluble fiber in bananas promotes the absorption of water in the colon to decrease diarrhea. Increasing demand for organic food from emerging economies have largely influenced the demand for banana flakes. Rising health consciousness among consumers have been resulted in increased demand for healthier food products.
Future Market Insights have recently published a report on global banana flakes market. According to the report, the market is anticipated to expand at moderate CAGR over the forecast period (2017-2027). Further, the market is likely to reach market valuation of approximately US$ 1 Bn by the end of assessment period, raised from US$ 600 Mn in the year 2016.
Here are several key insights that have been excerpted from an interview, which was held between market researcher and an analyst.
Why do you think the market for banana flakes have positive future?
Well, there are number of sectors under food and beverage industry, which have increased demand for infant nutrition sector. This sector is continuously growing as well as the competition among leading players in this industry is also significantly increasing. The growth of the retail sector in this sector is expanding which will spur the improvements of banana flakes market. Additionally, banana flakes are robustly utilized in the food industry in the manufacturing of breakfast cereals, thereby increasing demand for banana flakes globally.
According to you, what drives the growth of banana flakes market?
Banana flakes are significantly effective in controlling diarrhea as well as related diseases. Apropos a report published by World Health Organization, the second leading reason behind child deaths is diarrhea. In recent past, banana flakes have been proven to be the effective product in controlling diarrhea after being fed to censoriously sick patients. As a result of this, number of pharmaceutical companies have initiated production of banana-flakes-based medicines, which have led to constantly increase in the sales of the banana flakes.
Why do you think APAC region will remain at forefront in the market?
The market in the APAC region is expected to grab a major chunk of the pie across all the regions. The increasing demand for infant nutrition products, particularly in India and China will play a major role in the expansion of banana flakes market in this region. The increasing preference of consumers on healthy breakfast and on-the-go food is further fueling the growth of the market in this region. However, presence of unorganized the market such as banana flakes in this region is limiting the growth of the market. Increasing preference of consumption of organic foods is likely to propel demand for banana flakes in this region. The market in the APAC region is anticipated to expand at 3.8% CAGR over the forecast period to reach market valuation of US$ 560 Mn by the end of forecast period.
According to you, what are the leading players operating in the market?
Some leading players operating in the global market for banana flakes are Orchard Valley Foods Limited, Bardakci Group, Ingredient Inc., Diana Foods, and Van Drunen Farms. However, Top Line Foods, Z Natural LLC, P&G Food Industries, Johs.Thoms GmbH & Co. KG, and Rabeler Fruchtchips GmbH are some players in the market that have consolidated their footprints in the market in the recent past.
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