Banana Extract Market Report 2025 (Global Edition)

Global Banana Extract Market Report 2025 Market Size Split by Type Outlook: (Liquid, Powder), by Application Outlook: (Bakery, Confectionery, Dairy Products, Beverages, Cosmetics)

Banana Extract Market Report Description

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Competitive Landscape of the Banana Extract Market

In the Banana Extract market's competitive landscape, numerous key competitors are driving innovation and growth. These companies specialize in creating cups made from materials such as PLA (polylactic acid), bagasse, and paper that are both compostable and environmentally beneficial. Market rivalry is encouraging technological and design innovations to create Banana Extracts that fulfill both consumer wants and sustainability goals, keeping the market dynamic and competitive.

In November 2022, Eco-Products introduced the Veridian range, an innovative collection of compostable food service goods designed to reduce environmental impact by making it easy for consumers to distinguish between compostable and non-compostable items. This new product line, which includes over 50 items such as cups, lids, containers, and cutlery, contains clear "Compostable" labeling, the Biodegradable Products Institute (BPI) Certification Mark, and distinguishing green or brown color highlights. (Source: https://packagingeurope.com/news/eco-products-launches-product-line-to-address-composter-contamination-challenges/11086.article) In January 2024, The McCormick® brand introduced Flavor Maker Seasonings, a new line to inspire and flavor meals from prep to plate. The collection is available now online here and at Amazon.com, and coming soon to Walmart.com. It features 15 blends, each a quick way to enhance the flavor of any dish – from ramen to rice – with minimal effort for all levels of home cooks. (Source: https://news.mccormick.com/2024-01-23-McCormick-R-Introduces-Flavor-Maker-Seasonings-that-Double-as-Toppings-Ingredients) OliveNation has launched a new banana extract, which is naturally gluten-free with no sugar added with the taste of a fresh, ripe banana. Banana extract is an essential ingredient in making a great-tasting Double Banana Cream Pie. (Source: https://www.amazon.com/OliveNation-Pure-Banana-Extract/dp/B00U5FRJCC)

Top Companies Market Share in Banana Extract Industry: (In no particular order of Rank)

• McCormick
• Castella
• Nielsen-Massey
• Frontier
• Lochhead Manufacturing
• Steenbergs
• Cook Flavoring
• LorAnn
• C.F. Sauer
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the Banana Extract Market

Which Region Dominates the Banana Extract Market in 2024?

According to Cognitive Market Research, North America currently dominates the banana extracts market, and the region is expected to have significant growth during the projected period. This is due to The rise of health-conscious consumers looking for natural and organic items. This trend has increased demand for fruit-based extracts, such as banana extract, in functional foods and beverages, notably in the plant-based and gluten-free categories. Furthermore, the growing popularity of vegan and vegetarian diets is helping to drive market growth, as banana extract offers a natural, tasty option that meets these dietary choices.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). The increasing food and beverage business is experiencing an increase in demand for healthier, natural flavoring agents. The growing popularity of traditional and fusion cuisines featuring tropical fruit flavors such as bananas is another major element driving market expansion. Furthermore, the region's expanding cosmetics and personal care industries, particularly in South Korea and Japan, are increasing the usage of banana extract in skincare products due to its moisturizing and nourishing effects.

The current report Scope analyzes Banana Extract Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America Banana Extract Market Analysis

According to Cognitive Market Research, the global banana extract market size was estimated at USD 762514.2 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 305005.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.7% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the banana extract market with a market size of USD 240649.48 million in 2024 and is projected to grow at a CAGR of 2.5% during the forecast period. The demand for clean-label and natural flavoring agents in processed foods, beverages, and bakery products is driving the banana extract market in the U.S. >
• The Canada banana extract market had a market share of USD 36600.68 million in 2024 and is projected to grow at a CAGR of 3.5% during the forecast period. Growing consumer preference for organic and plant-based products, particularly in the functional foods and vegan sectors, is boosting the demand for banana extract in Canada.
• The Mexico banana extract market is projected to witness growth at a CAGR of 3.2% during the forecast period, with a market size of USD 27755.52 million in 2024.

Europe Banana Extract Market Analysis

According to Cognitive Market Research, the global banana extract market size was estimated at USD 762514.2 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 228754.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 28.40% from 2024 to 2031.

• The United Kingdom banana extract market had a market share of USD 38430.72 million in 2024 and is projected to grow at a CAGR of 3.8% during the forecast period. In the UK, banana extract sales witness an upswing due to the rising demand for natural and plant-based flavoring agents in vegan and clean-label food products.
• The France banana extract market is projected to witness growth at a CAGR of 2.2% during the forecast period, with a market size of USD 21045.39 million in 2024.
• According to Cognitive Market Research, the German Banana Extract market size was valued at USD 45293.34 million in 2024 and is projected to grow at a CAGR of 3.2% during the forecast period. In Germany, banana extract surged due to increasing consumer interest in organic and sustainably sourced ingredients for both food products and cosmetics.
• The Italy banana extract market is projected to witness growth at a CAGR of 2.4% during the forecast period, with a market size of USD 19672.87 million in 2024.
• The Russia banana extract market is projected to witness growth at a CAGR of 2.0% during the forecast period, with a market size of USD 35456.91 million in 2024.
• The Spain banana extract market is projected to witness growth at a CAGR of 2.1% during the forecast period with a market size of USD 18757.85 million in 2024
• The Luxembourg banana extract market is projected to witness growth at a CAGR of 3.1% during the forecast period, with a market size of USD 7091.38 million in 2024.
• The Portugal banana extract market is projected to witness growth at a CAGR of 2.8% during the forecast period, with a market size of USD 4803.84 million in 2024.
• The Greece banana extract market is projected to witness growth at a CAGR of 3.3% during the forecast period, with a market size of USD 2745.05 million in 2024.
• The Rest of Europe's banana extract market is projected to witness growth at a CAGR of 1.7% during the forecast period, with a market size of USD 35456.91 million in 2024.

Asia Pacific Banana Extract Market Analysis

According to Cognitive Market Research, the global banana extract market size was estimated at USD 762514.2 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 175378.27 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.

• According to Cognitive Market Research, the China banana extract market size was valued at USD 78920.22 million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. Banana extract surged in China due to the increasing demand for natural ingredients in processed foods and beverages, fueled by a growing health-conscious population..
• The Japan Banana Extract market is projected to witness growth at a CAGR of 5.0% during the forecast period, with a market size of USD 24202.20 million in 2024.
• The India banana extract market had a market share of USD 21045.39 million in 2024 and is projected to grow at a CAGR of 8.3% during the forecast period. The rapid expansion of the bakery and confectionery sectors, along with rising consumer preference for tropical flavors in both traditional and modern recipes.
• The South Korean banana extract market is projected to witness growth at a CAGR of 5.6% during the forecast period, with a market size of USD 17537.83 million in 2024.
• The Australian banana extract market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 9119.67 million in 2024.
• The South East Asia banana extract market is projected to witness growth at a CAGR of 7.5% during the forecast period, with a market size of USD 12101.10 million in 2024.
• The Rest of Asia Pacific banana extract market is projected to witness growth at a CAGR of 6.3% during the forecast period, with a market size of USD 12451.86 million in 2024.

South America Banana Extract Market Analysis

According to Cognitive Market Research, the global banana extract market size was estimated at USD 762514.2 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 38125.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.9% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil banana extract market size was valued at USD 16317.8 million in 2024 and is projected to grow at a CAGR of 4.5% during the forecast period. Banana extracts flourished in Brazil due to the country's abundant banana production and the growing demand for natural flavoring.
• Argentina's Banana extract market had a market share of USD 6405.12 million in 2024 and is projected to grow at a CAGR of 4.8% during the forecast period. the rising popularity of tropical flavors in the bakery and confectionery sectors, along with increasing consumer preference for clean-label products..
• Colombia banana extract market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD 3393.19 million in 2024.
• Peru banana extract market is projected to witness growth at a CAGR of 4.1% during the forecast period, with a market size of USD 3126.31 million in 2024.
• Chile banana extract market is projected to witness growth at a CAGR of 4.2% during the forecast period, with a market size of USD 2745.05 million in 2024.
• The Rest of Latin America's banana extract market is projected to witness growth at a CAGR of 3.0% during the forecast period, with a market size of USD 6138.24 million in 2024.

Middle East Banana Extract Market Analysis

According to Cognitive Market Research, the global banana extract market size was estimated at USD 762514.2 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 15250.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031..

• The GCC Countries banana extract market is projected to witness growth at a CAGR of 5.0% during the forecast period, with a market size of USD 6527.12 million in 2024. Banana extract sales flourish due to the presence of major market players.
• The Egypt banana extract market is projected to witness growth at a CAGR of 4.5% during the forecast period, with a market size of USD 1601.28 million in 2024.
• The South Africa banana extract market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 2409.54 million in 2024. Banana Extract sales flourished in South Africa due to the expanding focus on food innovation and the introduction of banana-flavored products.
• The Turkey banana extract market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD 1311.52 million in 2024.
• The Nigeria banana extract market is projected to witness growth at a CAGR of 3.3% during the forecast period, with a market size of USD 1601.28 million in 2024.
• The Rest of the MEA banana extract market is projected to witness growth at a CAGR of 3.2% during the forecast period, with a market size of USD 1799.53 million in 2024.

Banana Extract Market Analysis

How are Segments Performing in the Global Banana Extract Market?

Banana Extract Market Type Segment Analysis

According to Cognitive Market Research, liquid banana extracts are likely to dominate the banana extract market over the forecast period. Liquid banana extract is normally prepared by extracting the essence of ripe bananas and is used to flavor baked goods, beverages, and desserts. It is popular for its ease of mixing and strong banana flavor, making it a must-have ingredient for applications that require a lively and realistic banana flavor.

The powder is the fastest-growing segment in the banana extract market. Powdered banana extract is commonly used in dry mixes for baked products, snack bars, instant desserts, and seasonings. Its simplicity and stability make it a popular choice for food processing industries looking for a flexible flavoring agent that does not pose the risk of deterioration that fresh ingredients do. Furthermore, powdered extracts are gaining popularity in the dietary supplement and nutritional product industries, where they are valued for their concentrated flavor and potential health advantages.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Banana Extract Industry. Request a Free Sample PDF!

Banana Extract Market Application Segment Analysis

According to Cognitive Market Research, the bakery segment holds the largest share of the market. The bakery segment dominates the banana extract market because banana extract is widely used in baked goods such as cakes, muffins, pancakes, and breads. The extract improves the flavor profile of these products by delivering a sweet and natural banana flavor, making it a popular component among bakers.

In the banana extract market, the beverages sector has been expanding at a rapid pace. With the rising demand for natural flavorings in smoothies, juices, cocktails, and health drinks, banana extract has found a strong foothold in this segment. The growing popularity of plant-based and functional beverages is further boosting its use.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Author's Detail

Ashwini Moharir

Research Analyst at Cognitive Market Research

LinkedIn

Profile

Enthusiastic and analytical market research professional with 2 years of hands-on experience in tracking market trends, evaluating consumer behavior, and supporting strategic decision-making. Proficient in designing surveys, conducting interviews, and synthesizing insights from both primary and secondary sources. Successfully contributed to research projects across sectors such as retail, personal care, and industrial markets. Brings a keen eye for detail, strong data interpretation skills, and a passion for uncovering what drives markets forward. Comfortable working in fast-paced environments and collaborating across departments to deliver clear, actionable findings.

Author's Conclusion