Banana flakes is highly popular worldwide especially in South Asia and Africa. They are consumed as preferred snacks in the region. These flakes are basically derived from naturally ripened bananas. Banana flakes market is highly fragmented with many small scale players actively engaged in production and supply to local markets. Easy procurement and lower operational cost has led to emergence of these companies. Production to revenue output is fairly high in banana flakes market. While the industry is growing at 8.3% CAGR, there exists a large market opportunity for players since majority of banana flakes sold are either unpackaged or goes off label. As such, there exists huge opportunity for players to boost sales revenue.
Banana snacks is largely considered as traditional snacks, which in turn has led to higher sales of the product. The product is also enriched with nutritional qualities that makes it popular among consumers. It has high vitamin and mineral content including potassium, iron and magnesium. These are not only consumed as standalone product but also as smoothies, infant nutrition, bakery, and deserts.
Key Trends and Factors Driving Banana Flakes Market Demand:
- Majority of banana flakes sales is done through general stores, followed by supermarkets and convenience stores. Presence of large number of general shops in emerging regions has led General stores to dominate the global share. The trend is however shifting towards hypermarkets and supermarkets. Shift in purchasing behavior is attributed to consumer preference to buy labeled products. Online sales will register fastest growth during the forecast period.
- On the basis of type, organic banana flakes market is expected to register fastest growth during the forecast period. Consumers are inclining towards organic product owing to health benefits. Moreover, homemade banana flakes are organic based, which is primarily a first choice among consumers. Conventional banana flakes is therefore registering sluggish growth. Industry players are focusing on offering organic labeled banana flakes to gain market traction among consumers.
Global Banana Flakes Market Size Analysis and Industry Opportunity: By Region
Globally, Asia Pacific accounted for 59% of total banana flakes sales in 2018. Growth in the region is primarily attributed to higher consumption of banana flakes among consumers. There are many small scale players operational in the region. These companies market their product through general stores. Emergence of online channels has helped these small scale companies to expand their business reach.
Global Banana Flakes Market Size and Forecast: Competition Landscape
Some key Banana Flakes market players are:
- Ingredient Inc.
- Naturkostbar KG
- Z Natural Foods LLC
- Rabeler Fruchtchips GmbH
- Johns Thoms GmbH & Co. KG
- Futurcorp S.A.
- BATA Foods
- Diana Group
- Chiquita Brands International
By Product Type:
By Distribution Network:
- Online Sales
- Hypermarket and Supermarket
- General Stores
- Convenience Stores
- Mass Merchandisers
What Will You Discover in the Report?
- An in-depth analysis of the Banana Flakes market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
- How the Banana Flakes market sales is expected to grow throughout the forecast period.
- How geopolitical policies and technological changes will affect the Banana Flakes market in near future
- Where the stakeholders should invest to generate higher profit margins
- How consumers (end-users) will reflect to the Banana Flakes industry during the forecast period
- Who are the Banana Flakes industry leaders and what are the key initiatives taken by them for long term growth
Who will benefit from the Report?
- Banana Flakes Industry Suppliers
- Banana Flakes Industry Manufacturers
- Consultants and Analysts
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