Banana
powder has been gathering steam among food and cosmetic industries to diversify
their portfolio. The consumption potential in the banana powder market has attracted
beauty enthusiasts who are looking to utilize the products as setting powder
for meeting a wide range of beauty care needs of populations.
World over,
companies of varying hues from these industries are working to work
collaboratively with banana producers to improve the profitability of the
produce, and hence catalyzing the attractive quotient of the global banana
powder market. Propelled by expanding public information on the benefits of
banana powder, consumers have begun responding to marketing campaigns by
cosmetic brands. A few early adopters are seeking to harness
organically-sourced banana powders with the aim of diversifying their
portfolio. Such moves have helped banana powder manufacturers, notably new
entrants, to garner competitive gains in the banana powder market.
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The
intensity of competition in the banana powder market is likely to increase
noticeably with new entrants to disrupt the plant-based products space.
Meanwhile, both organic as well inorganic growth strategies will under the radar
of several players in the market, in order to consolidate their positions or
their geographic footprints. Notably, numerous companies in the banana powder
market are aiming to leveraging new distribution partnerships, and entering
into acquisitions for competitive gains.
The global
worth of the banana powder market was US$ 550 Mn in 2019. The market would
clock a promising CAGR during 2019 – 2027 to reach US$ 774.4 Mn by 2027-end.
Benefits
of Processed Banana Fuel Consumption in Bakery and Confectionery Industry
The most
marked impetus to the evolution of the banana powder market is likely to come
from the food and beverages industry. Food processors are actively seeking to
advance the demand potential in marketplace by getting access to new separation
and processing technologies. The growing adoption of such technologies has
enabled especially producers in the bakery and confectionery industry to fuel
consumption in the banana powder market. The major share that the segment has
been holding in the global marketplace is supporting the trend. Overall, the
food industry occupied a little more than half of the share in the global
banana powder market. A promising avenue is in the prospect of the use of
banana powder for baby foods.
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Skin Care Products with Banana
Powder Attracting Consumers
The
cosmetics industry has reaped large revenue gains from the sales of products
that contain banana powders. The demands in various populations have been
stimulated by the growing popularity that setting powders enjoy in the beauty
care products. Cosmetic brands coming up with new formulations to suit every
skin types and tone are fueling new avenues that encourage the growth of the
banana powder market. Growing numbers of consumers who pin hopes of banana
powder for sensitive skin is expected the advance the revenue generating
potential further.
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Among the
various regions, the impact of the aforementioned trend on Asia Pacific will be
most marked. In the coming years, the region is expected to witness several
lucrative avenues in end-use industries to keep the lucrativeness of the
overall banana powder high. Moreover, in numerous emerging economies of the
region, growing proclivity of consumers who want to try exotic ingredients in
their beauty care has reinforced the potential of the Asia Pacific banana
powder market.
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