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

Report Overview

The global banana bread market size was valued at USD 1.07 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 3.9% from 2020 to 2027. Shifting consumer preference for healthy and nutritious bakery products with added medicinal properties is expected to be a crucial factor for market growth. Banana is very beneficial for keeping the heart and digestive system healthy and it also helps in weight management. These medicinal properties are expected to fuel product demand over the forecast period. Over the past few years, consumers have become more conscious of their health, which has propelled the demand for nutritious and healthy diets to achieve health and wellness. Bread is a staple food that is present in almost all the kitchens in the world and is widely consumed in breakfast.

This food product is also used for making several dishes that take less cooking time and offer a tummy fill meal. With the addition of banana in bread, it helps the customer eat more nutritious and healthier bakery items than simple bakery bread. Banana is an excellent source of potassium, vitamin B6, vitamin C, carbs, and lots of fiber. All the above nutrients offer various health benefits, such as the right amount of fiber helps improve the digestive system. Vitamin C helps boost the immunity system, potassium is essential for heart health, and carbs help in weight management. Such nutritious bread has been gaining popularity among consumers across the globe, which is anticipated to boost market growth over the forecast period.

Product Insights

The unflavored segment was the largest product segment with a share of more than 65.0% in 2019. This segment is expected to maintain the lead over the forecast period owing to the availability of a comprehensive range of products at the global level. Manufacturers are offering various new products, including gluten-free, low sugar, and vegan banana bread. These product variants are attracting customers around the globe.

Flavored variants are anticipated to register the fastest CAGR of 4.2% from 2020 to 2027. Consumers across the globe are increasingly adopting a healthy lifestyle without hampering their taste buds. Manufacturers are offering a number of flavors in these bread, such as peanut butter, strawberry, blueberry, peach, pineapple, oats, vanilla, chocolate, cheese cream, and apple. The availability of a number of flavors enhanced the taste of these bread and all age groups can easily consume them.

Distribution Channel Insights

Hypermarket and supermarket was the largest distribution channel with a share of more than 45.0% in 2019. Bakery products are widely purchased from large supermarkets owing to the availability of a wide range of products. Major players such as Walmart, 7Eleven, Aldi, Tesco, Sainsbury's, Apar, and Auchan are deep-pocket market giants that offer a wide range of grocery products and a large chain of stores for the maximum customer engagement.

The online segment is anticipated to be the fastest-growing distribution channel with a CAGR of 4.4% from 2020 to 2027. This growth is attributed to a high degree of convenience associated with the sales channel. Moreover, increasing social distancing and rising COVID-19 pandemic across the globe are boosting the purchase of these bakery products through e-commerce. Major players in the offline market or hypermarket and supermarket are entering the e-commerce sector as customers are increasingly adopting e-commerce due to its discounts, doorstep delivery, and availability of a wide range of products.

Regional Insights

North America was the largest regional market for banana bread with a share of more than 30.0% in 2019. The U.S. is one of the largest consumers of all kinds of bread, which offers growth opportunities for this product in the regional market. Such products are widely used in making various dishes, such as cheese bread and sandwiches. Customers are eagerly looking for new products, such as banana-based variants, with enhanced flavor, taste, and nutritional properties.

Asia Pacific is anticipated to be the fastest-growing regional market with a CAGR of 4.5% from 2020 to 2027. These bread is quite popular in Australia owing to its enhanced taste as compared to the regular counterparts. The adoption of these products is on the rise among consumers as the customers are increasingly adopting healthy bakery products. Moreover, improving living standards, increasing disposable income, and western food influence are opening new avenues for the market in the country. These trends are expected to boost the demand for this product over the forecast period.

Key Companies & Market Share Insights

The market is highly fragmented across the globe as many small players are also offering quality products in their respective regional markets. Moreover, the adoption of these products is high among the major players. Famous bakeries are also offering a number of flavored and high-quality products, which is increasing the competitive rivalry in the market. With the growing trend of healthy bakery products among consumers, manufacturers are launching a number of flavored products as well as gluten-free and vegan products. For instance, in January 2020, Woolworths Supermarkets launched a new banana bread product with two varieties, including original and Cadbury chocolate chip, in Australia. These product launches are expected to fuel the demand for these products in the foreseeable future. Some of the prominent players in the banana bread market include:

• General Mills, Inc.

• Banana Bread Co

• Mama Ka'z

• King Arthur Baking Company, Inc.

• Papa Joe's Bakehouse

• Big Banana Bread

• Dank Banana Bread

• The Essential Baking Company

• Simple Mills

• Havana Banana Breads

Banana Bread Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global banana bread market report on the basis of product, distribution channel, and region:

• Product Outlook (Revenue, USD Million, 2016 - 2027)

  • Unflavored

  • Flavored

• Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)

  • Hypermarket & Supermarket

  • Convenience Stores

  • Online

  • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • The U.S.

  • Europe

    • The U.K.

    • Germany

    • France

  • Asia Pacific

    • China

    • Australia

  • Central & South America

    • Brazil

  • Middle East & Africa