The aim of this project is to organize the production of banana chips in Columbia. After production, the aim is to sell the products in Europe, Russia, USA, and Asia. Banana chips are simply dried slices of ripe bananas dubbed banana papa.
Bananas Papa And The Market Capacity
Bananas are the most sold product globally. They are considered a healthy food, which contains huge amounts of potassium. This potassium is essential for lowering blood pressure and preventing heart disease. In Western nations, bananas are often eaten in between meals. The USA is the leading consumer of bananas. In fact, 24.6% of all bananas in the world are consumed in the US.
This product is derived from bananas, and it has a concentrated banana taste. The current market capacity for snacks globally is placed at USD 82.5 million. North America is the largest market for snacks globally. It is followed closely by Southeast Asia and Western Europe.
In Russia alone, the market capacity for snacks stands at $4.1 billion. Various studies have shown that fruit-based snacks are a growing segment at 16% each year. One reason for this is that consumers are becoming smarter. Besides that, consumers have a growing interest in exotic snacks.
Why No Large-Scale Production Yet
The main reason for lack of large-scale production is that there is no banana-peeling machine in existence yet. Besides that, the banana pulp is not dense, which makes the use of a machine quite difficult. In most cases, players in the food industry prefer a process that can be fully automated.
The product is also made from ripe bananas. However, ripe bananas are a farmer’s nightmare. They usually need to collect the bananas green and get them ripened when they arrive at their target market.
Another reason is time. At the start of banana exportation, there was not enough time spent on modifying bananas. In fact, banana production is still quite inefficient even today. While 140 million tons of bananas are harvested globally, only a small percent are exported.
There are numerous reasons why manufacturing will take place in Colombia. However, the main one is proximity to the raw materials. Besides that, Colombia has the perfect climate conditions for production of the perfect bananas. Another reason is that Colombia has one of the fastest growing economies in South America. Besides that, it is closely located to one of the largest banana markets in the world, the USA.
Technology has only been tried on samples. The first 500 sample were sold in the local market. They also did an open tasting, and the surveys showed everyone liked the product. They have also made various improvements to the technology. For instance, they improved the efficiency of the drying chamber by 176.9%. The equipment for this process is made in Russia and then exported to Colombia. The ICO is already live. Once the ICO is completed, the construction of the production plant is expected to start in July of 2018.
Banana Papa ICO Details
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