A recent report published by Infinium Global Research on the banana bread market provides an in-depth analysis of segments and sub-segments in the global as well as regional banana bread market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional banana bread market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global banana bread market. According to the report, the global banana bread market is projected to grow at a CAGR of over 4% over the forecast period of 2022-2028.
The global banana bread market was valued at about USD 1.2 billion in 2022 and is expected to reach around USD 1.5 billion in 2028, with a CAGR of over 4% during the forecast period. Consumer taste for wholesome, nutritious bakery goods with added medicinal benefits is predicted to change, and this is projected to be a key driver of market expansion. The heart, digestive system, and overall health are all greatly enhanced by bananas, which also aid in controlling weight. Over the projected period, it is anticipated that these medical qualities will support product demand. The need for nourishing and healthy diets to achieve health and wellness has increased over the last several years as consumers' health consciousness has increased. In practically every kitchen in the world, bread is a staple dish that is also frequently consumed in breakfast.
The easy accessibility of banana bread via a variety of venues, from modern trade to online sales channels, is a major driver of the worldwide banana bread market's expansion. Additionally, a rise in the penetration of retail sales has accelerated the market's expansion for banana bread. Furthermore, consumers now have the comfort of shopping for items without any physical restrictions thanks to the availability of banana bread on e-commerce platforms. E-commerce also provides clients with information on products and pricing, as well as the ability to compare benefits and perform a thorough value assessment prior to making a purchase. Banana bread demand has also surged as a result of millennials spending more money on fast food. Additionally, the rise in consumer health consciousness has encouraged producers to release gluten-free banana bread, which is anticipated to fuel market expansion. The majority of variations of banana bread continue to be high in added sugar, refined carbs, and total calories despite the fact that it contains certain significant elements, such as potassium. This is a significant additional aspect that is anticipated to restrain the development of the global banana bread market over the study year.
Owing to decreasing sales volumes caused by the COVID-19 epidemic, as well as supply-side concerns with certification and quality, the bread market in the region suffered unprecedented effects. The majority of bread goods sold in the area have been through convenience stores and specialized shops. Bread consumption decreased as a result of the lockdown, which caused an increasing number of stores to close for a prolonged amount of time. However, it was able to increase sales through retail locations that remained open during the COVID-19 pandemic.
The research offers a regional outlook that includes the rest of the world in addition to regions like North America, Europe, and Asia-Pacific. With a share, North America dominated the regional banana bread market. Since the United States is one of the countries that consumes the most bread overall, there are expansion potential for this good in the local market. These ingredients are frequently used to prepare a variety of foods, including sandwiches and cheese bread. Customers are avidly seeking new products with improved flavour, taste, and nutritious qualities, such variations made from bananas. With a considerable CAGR, Asia Pacific is predicted to have the quickest rate of growth in the area. Due to its superior taste compared to its conventional equivalents, this bread is highly popular in Australia. Due to consumers' growing preference for healthy bakery items, these products are becoming more and more popular. Additionally, the country's market is expanding due to rising disposable income, higher living standards, and the influence of western food. Over the course of the projection period, these trends are anticipated to increase demand for this product.
The report on global banana bread market covers segments such as products, end user, and distribution channel. On the basis of products, the sub-markets include flavored, and un-flavored. On the basis of end user, the sub-markets include commercial, and residential. On the basis of distribution channel, the sub-markets include offline, and online.
The report provides profiles of the companies in the market such as General Mills, Inc., Banana Bread Co, Mama Kaz Bakery , King Arthur Baking Company, Inc., Papa Joe's Bakehouse, Big Banana Bread Co ltd, DANK Brooklyn, The Essential Baking Company, Simple Mills, and Havana Banana Breads.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the banana bread market. Moreover, the study highlights current market trends and provides forecasts from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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