Global Banana Powder Market Grows at a Staggering CAGR of 6.75%

Introduction

Banana powder is produced by mashing banana pulp and drying it using drum or spray drying techniques. The dried product is then pulverized and passed through a 20-mesh sieve. It is a key ingredient in milkshakes, baby foods, and bakery products like cakes and biscuits. Rich in potassium and essential nutrients, banana powder enhances the nutritional value of nutraceuticals, including dietary supplements, powdered drink mixes, and smoothies, without affecting texture or mouthfeel.

The global banana powder market is expanding due to increasing consumer preference for natural, gluten-free, and nutrient-rich food products. Widely used in baby food, bakery goods, cosmetics, and pharmaceuticals, banana powder benefits from its high nutritional profile. The food processing industry remains a significant growth driver, with rising interest in functional foods and dietary supplements. Asia-Pacific, led by India and the Philippines, dominates production due to vast banana cultivation. Advancements in freeze-drying and spray-drying technologies are improving product quality and shelf life. However, supply chain inefficiencies, seasonal variations, and price fluctuations pose challenges, necessitating innovations in processing and storage.

Market Dynamics

Rising health consciousness drives market growth

Banana powder aligns with the growing demand for natural and nutrient-dense food options. Packed with vitamins, fiber, and potassium, it is a preferred ingredient in baked goods, smoothies, infant nutrition, and sports supplements. The increasing focus on healthy eating habits is driving market growth.

• In June 2024, FMCG Gurus reported that 56% of consumers consider natural claims necessary for bread, 47% for bakery products, and 42% for breakfast or cereal bars. Their global "Taste Tomorrow" survey of 40,000 consumers found that naturalness (68%), recognizable ingredients (63%), and ingredient origin (61%) are key clean-label food attributes. Nearly 80% of consumers prefer "100% natural" claims on product packaging.

Additionally, the demand for natural and clean beauty products is fueling the market's expansion. Banana powder is increasingly used in skincare due to its natural composition and rich nutrient profile, which includes vitamins and antioxidants. The rising demand for natural cosmetic ingredients is significantly contributing to market growth.

Demand from various industries

Banana powder's versatility offers substantial market potential across various industries. Besides its traditional use in food and beverages, the cosmetics sector is driving demand due to its moisturizing and antioxidant benefits. The pharmaceutical industry is also exploring its role in nutritional supplements and medicines. Manufacturers and suppliers are witnessing significant growth as demand for natural and health-enhancing ingredients rises across multiple sectors.

• According to the Gujarat government, India’s banana powder industry is growing due to increasing demand for simple, healthy food options. The market will expand at a 3.9% CAGR from 2022 to 2027. Key banana-producing states fueling this industry include Tamil Nadu, Gujarat, Maharashtra, Andhra Pradesh, and Karnataka.

Regional Analysis

Asia-Pacific dominates banana powder production and consumption, with large-scale banana cultivation in India, the Philippines, Thailand, and Indonesia. These countries' strong agricultural bases ensure an ample supply of raw materials at competitive prices, making production cost-effective. The region’s increasing health-conscious population prefers natural, minimally processed foods, further driving demand. Banana powder is widely used in infant nutrition, bakery items, dairy alternatives, and health supplements, benefiting from the rising popularity of organic and gluten-free products.

Additionally, expanding the food processing industry and e-commerce platforms makes banana powder more accessible. Governments and private enterprises are investing in advanced processing technologies like freeze-drying and spray-drying to enhance nutritional retention and extend shelf life.

• According to India’s Ministry of Agriculture, banana production in India is projected to exceed 30 million metric tons in 2024, making it the world’s largest producer and a key supplier of banana powder.

Key Highlights

• The global banana powder market size was valued at USD 12.60 billion in 2024. It is expected to reach from USD 13.38 billion in 2025 to USD 22.55 billion in 2033, growing at a CAGR of 6.75% over the forecast period (2025-33).
• Based on Process, the global banana powder market is segmented into freeze dried, spray dried, sun dried, and others. The Spray Dried owns the highest market share during the forecast period.
• Based on Source, the global banana powder market is segmented into organic and conventional. The organic source will own the highest market share during the forecast period.
• Based on the Application, the banana powder market is segmented into food, cosmetics, pharmaceuticals, animal feed, and others. The Food segment is the most significant revenue contributor to the market during the forecast period.
• Based on the Distribution Channel, the banana powder market is segmented into direct and indirect sales. The Indirect Sales segment is the most significant revenue contributor to the market over the forecast period.
• Based on region, the global market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Asia-Pacific is the most significant shareholder in the global banana powder market and is forecasted to exhibit a CAGR of 5% during the forecast period.

Competitive Players

1. Natural Evolution Limited
2. International Agriculture Group
3. Zuvii
4. ADM Wild Europe Gmbh & Co
5. KG
6. Nutryttiva
7. NuNaturals, Inc.
8. Stawi Foods and Fruits Limited
9. Slingan Pty Ltd
10. Royal Nut Company
11. NOW Health Group, Inc.
12. Mevive International
13. Safety Foods Pvt Ltd
14. Taj Agro International
15. Vinayak Ingredients
16. Shree Biotech
17. Santosh Food Products
18. Guangxi ENDU High-Tech
19. Qingdao Xinmeixiang Foods
20. Yunnan LincangKaixiong Banana Co., Ltd.
21. Shaanxi Jintai Biological Engineering
22. Shine-Ball

Recent Developments

• In March 2024, OLEHENRIKSEN launched a one-step makeup prep for skin that's instantly illuminated by offering a lit glow like the Scandinavian sun with Banana Bright+ Instant Glow Moisturizer. Formulated to improve the appearance of makeup, visibly brighten skin instantly and over time, and reduce the look of fine lines and wrinkles.

Segmentation

1. By Process
   1. Freeze Dried
   2. Spray Dried
   3. Sun Dried
   4. Others
2. By Source
   1. Organic
   2. Conventional
3. By Application
   1. Food
   2. Cosmetics
   3. Pharmaceuticals
   4. Animal Feed
   5. Others
4. By Distribution Channel
   1. Direct Sales
   2. Indirect Sales
5. By Region
   1. North America
   2. Europe
   3. Asia Pacific
   4. Central & South America
   5. Middle East & Africa