GLOBAL | Banana milk is emerging as a popular plant-based alternative in a market long dominated by soy, almond, and oat milk. While these options each have their place, few replicate the flavour and consistency of dairy quite like banana milk. Blended from bananas and water, it offers a creamy texture and naturally sweet taste, without relying on common allergens.
Valued at US$ 29.4 million in 2022, the banana milk market is projected to grow to US$ 52.4 million by 2033, at a CAGR of 5.5 percent. Demand is being driven by consumers seeking lactose-free and allergen-friendly options that still deliver flavour and nutritional value.
Banana milk contains vitamins A, B12, C, and D, as well as potassium and fibre. It is gluten-free, fat-free, non-GMO, and typically free from soy and nuts. While it naturally tastes like bananas, flavour innovations such as chocolate, mango, and strawberry are growing in popularity.
Supermarkets remain the primary sales channel, accounting for 32 percent of global sales in 2022. Many consumers prefer to inspect ingredients in person, particularly when navigating allergen concerns.
Germany held over 19 percent of the global market share in 2022, with steady growth driven by interest in health-focused drinks. In India, the market is set to reach US$ 2.7 million by 2033, supported by local banana production and demand for allergen-free alternatives.
Some brands also add ingredients like sunflower seeds to balance sweetness or cinnamon to introduce a hint of spice.
Though it may not appeal to everyone as a drink on its own, banana milk is a popular addition to smoothies, cereal, oatmeal, and even coffee. One of the most recognised brands in the category is American beverage company Mooala, best known for its flagship “bananamilk” product, which is dairy-free, nut-free, and organic. The company has played a key role in introducing banana milk to a broader consumer base, particularly in North America.
As plant-based innovation continues, banana milk is proving itself as a credible and functional alternative. With its natural nutritional profile and increasing flavour options, it is well positioned to meet rising consumer demand for dairy-free, clean-label beverages.
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