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According to report published by Grand View Research, Shifting consumer preference for healthy and nutritious bakery products with added medicinal properties is expected to be a crucial factor for banana bread market growth.
According to a report, “Banana Bread Market Size, Share & Trends Analysis Report By Product (Unflavored, Flavored), By Distribution Channel (Hypermarket & Supermarket, Convenience Stores, Online), By Region, And Segment Forecasts, 2020 – 2027”, published by Grand View Research, Inc., The global banana bread market share is expected to reach at USD 1.46 billion at a CAGR 3.9%, according to the new report by Grand View Research, Inc. Consumer preference for nutritious bakery products is a major growth factor for the market growth. Banana offers medicinal and nutritional properties on human health and is highly beneficial in weight management. In the past few years, with the rise in diet-conscious population, the bakery industry is coming up with innovative food products to cater to the changed demands.
Banana bread and bread products are one of the widely consumed bakery items on a global scale. It increases the essential vitamins and minerals to the diet and balances the intake of dietary constituents. In short, other diet components such as honey, jam, mayonnaise, and other items are interrelated and interdependent.
Online distribution channels have attained a prime importance owing to home-deliveries resulting in convenience of consumers. Moreover, consumers are adopting novel strategies of bread recipes at home owing to the social distancing norms and safety practices. Therefore, easy availability and consumer convenience are major growth factors for the market development in the coming years
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Covid-19 Effect:
Amid the lockdown and social distancing in the wake of covid-19 pandemic, many home makers are adopting the self baked cakes. Banana bread recipes are likely to be used for its flavor and diet composition. The covid-19 effect has a huge impact on the bakery industry wherein hygiene stands utmost important. This has shifted the consumer preference from retail shopping to home made products. Even food and confectionery manufacturers are emphasizing on producing raw materials for home made items as a result of existing market condition.
Further Findings From The Report Suggest:
l Flavored bread products are emerging product segments attributing to the wide availability of a various range of products. For instance, consumers have a huge demand for gluten-free products wherein these products are leading in a high consumption adoption.
l Online distribution is the fast growing segment attributing to the dominance of e-commerce in the food industry. Many players are switching to online modes since it offers convenience to consumers.
l Asia Pacific is expected to remain a highly dominant market in terms of bread production. High adoption of home made breads has gained a huge traction in the past few years.
l North America is the large market for banana bread with more than 30% share on a global scale. Significant rate of consumption of bakery products and extensive demand from consumers is expected to pump revenue growth of the market.
Major Players:
l Mama Ka’z
l Banana Bread Co
l General Mills Co
l King Arthur Baking Company Co
l Big Banana Bread
l Papa Joe’s Bakehouse
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Banana Bread Market Segmentation
Grand View Research has segmented the global banana bread market on the basis of product, distribution channel, and region:
Banana Bread Product Outlook (Revenue, USD Million, 2016 – 2027)
Banana Bread Distribution Channel Outlook (Revenue, USD Million, 2016 – 2027)
Banana Bread Regional Outlook (Revenue, USD Million, 2016 – 2027)
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North America
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Europe
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Asia Pacific
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Central & South America
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Middle East & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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