The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
Banana Bread Market Growth & Trends
The global banana bread market size is expected to reach USD 1.46 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.9% from 2020 to 2027. Rising consumer preference for the nutritious and wholesome bakery products to carry a healthy lifestyle is the key factor for the industry growth. Moreover, banana has several medicinal properties, including improving the digestive system and heart health, thus expanding the scope of the global industry in the near future.
Such products are considered an excellent source of fiber, carbs, vitamins, minerals, phosphorus, and antioxidants. These nutritional properties of the fruit help in weight management and improving the digestive system and heart health. The rich content of carbs in banana bread helps to feel more tummy full, leading to weight loss. Vitamin C boosts immunity, fiber improves the digestive system, and potassium helps improve heart health. These health properties are expected to boost product demand over the forecast period.
North America was the largest regional market, accounting for more than 30.0% in 2019. The U.S. is one of the largest consumers, which is expected to offer immense growth opportunities for the North American market over the next few years. Asia Pacific is anticipated to be the fastest-growing regional market with a CAGR of 4.5% from 2020 to 2027. The adoption of these products is on the rise among consumers as the customers are increasingly adopting healthy bakery products.
Banana Bread Market Report Highlights
- Unflavored product was the largest segment with a share of more than 65.0% in 2019 and is expected to maintain the lead over the forecast period owing to availability of a wide range of products at the global level
- The flavored variant is anticipated to be the fastest-growing product segment with a CAGR of 4.2% from 2020 to 2027. Consumers across the globe are increasingly adopting a healthy lifestyle without hampering their taste buds, which, in turn, is expected to expand the scope of flavored products over the next few years
- Hypermarket and supermarket was the largest distribution channel with a share of more than 45.0% in 2019. Bakery products are widely purchased from these stores owing to the availability of a wide range of products
- New product launches are expected to remain a key trend over the next few years. For instance, in January 2020, Woolworths Supermarkets launched a new banana bread product with two varieties, including original and Cadbury chocolate chip, in Australia.