The banana flakes market in North America is expected to grow from US$ 167. 25 million in 2019 to US$ 232. 91 million by 2027; it is estimated to grow at a CAGR of 4. 4% from 2020 to 2027. The rising usage of banana flakes by food and beverage sector is also bolstering the growth of food and beverage industry.
New York, Oct. 28, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Banana Flakes Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Nature, Application, and Distribution Channel" - https://www.reportlinker.com/p05978891/?utm_source=GNW
The demand for banana flakes in the food & beverage industry is drastically increasing owing to its application in ice creams, juices, desserts, breakfast cereals, salads, yogurt, and many others.
The consumers demand banana flakes in the aforementioned food products owing to their health benefits.For the last few years, there has been a significant demand for banana flakes from bakery sector in developed and emerging countries.
The sweet and snacks industry is also exploiting banana flakes for the production of healthy bars and sweets. The substantial farming of bananas across several regions is among the other factors expected to positively influence the demand for Banana Flakes.
In terms of application type, the household segment is estimated to grow at the fastest rate during the forecast period.Banana flakes are widely being used owing to the increasing awareness about the low fat and gluten content along with its various health benefits.
Banana flakes are mixed with cereals and consumed as breakfast.They are also taken to be a healthy evening snack and are eaten regularly due to its low fat content.
Homemade face masks are prepared using banana flakes to control acne problems.It also helps in strengthening the hair and reduce hair fall owing to the high potassium content.
Further, banana flakes are also used as sprinkler to enhance the taste of foods such as homemade custards, ice creams, cakes, smoothies, and yogurt. Besides this, banana flakes are capable of thickening beverages and hot cereals. The use of banana flakes in household cooking relives pain and burning symptoms of occasional heartburn. It also helps in stimulating appetite. The health benefits along with diversified end-use applications across several industries drive the growth of banana flakes market.
With the outbreak of COVID-19, the North America region is likely to get affected with respect to the economic growth.Although, US is the global manufacturing hub and leading raw material supplier for various industries, it is one the worst affected countries due to the COVID-19 outbreak where all business operations are halted due to nationwide lockdown.
Food & beverages is one of the world’s major industries facing severe disruptions in the form of event cancellations, supply chain breaks, travel bans, business shutdowns, and lockdowns were imposed by the governments across North America, which is anticipated to affect the expected revenue generation and overall growth opportunities in North America.
The overall North America banana flakes market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the North America banana flakes market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America banana flakes market. Z Natural Foods, Van Drunen Farms, P & G Industries, Ingredient Inc., and Diana Group are among the key players in the North America banana flakes market.
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