Banana Bread Market Size Worth $1.46 Billion By 2027 Driven By Consumer Health
Tuesday, September 8th, 2020 | 721 Views
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 percent 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.
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.
North America was the largest regional market, accounting for more than 30.0 percent 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 percent from 2020 to 2027. The adoption of these products is on the rise among consumers as the customers are increasingly adopting healthy bakery products.
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