“Changing taste and preference of the consumer, increasing demand for healthy and nutritional food and government initiatives will thrive the processed Banana market”, Says RNCOS
According to a new research report by RNCOS entitled, “Opportunities in Indian Banana Processing Outlook 2022”, the processed Banana market has gained huge popularity in past couple of years due to its attractive health benefits and convenience. The major growth drivers of the industry are strong government support, changing taste and preference of the consumer and high demand for healthy and nutritional product.
Banana is the second most important fruit crop in India after Mango. Fruit cultivation in India is a habit of the Indian Families. Increasing literacy and rising per capita income is creating the demand of important economic activity and has been a flourishing sector with varied resources and potentials. In recent years, the consumption of Banana in the country has seen a gradual increase, making India one of the major producers of Banana. Banana is consumed in various varieties and forms in almost all regions of India.
Changing lifestyle and taste of the consumer is considered to be one of the major growth drivers of the Indian processed Banana market. Increasing nuclear families and working women population has changed a lot processed Banana products which have a higher shelf life and more nutritive content. Also, rising working class demands more value-added banana products and is increasingly willing and able to pay a premium for banana products .Working women generally do not get time to prepare breakfast as they have to rush to office, so they prefer to buy and consume processed banana products.
New technologies are being introduced to increase the production of processed banana products. It is consumed round the year by people of all age groups from all income segments. Thus, with the development of new technologies, efforts are also being made to improve the quality of products in order to attain high productivity and to ensure overall development.
The Indian fruits which are commercially produced in India contribute a bulk of production of Banana. With the growth in the production of Banana, the demand for processed Banana products is increasing. Thus, a growth in the number of Banana production in the country is bound to increase the consumption of Banana processed products as they are more nutritious in the coming years.
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