Banana Puree Market Poised for High Growth due to Expanding Food and Beverage Industry

 

The banana puree market has witnessed significant growth over the past few years owing to the increasing demand from food and beverage industry including baby food, yogurt, ice-cream and culinary preparations. Banana puree is a thick, creamy pulp made from bananas that is either used as an ingredient in food preparations or consumed directly. It is a good source of potassium, fiber and several vitamins which makes it appealing for health-conscious consumers. Banana puree is preferred over fresh or frozen bananas by food manufacturers and processors due to its uniform consistency and longer shelf-life. It provides a natural sweetness and creamy texture to various products without added sugars.

The global banana puree market is estimated to be valued at US$ 381.7 million in 2024 and is expected to exhibit a CAGR of 9.2% over the forecast period of 2023 to 2030.

Key Takeaways

Key players:

Key players operating in the banana puree market are Symrise AG, Döhler GmbH, Kiril Mischeff, Riviana Foods Pty Ltd, Nestlé S.A., The Hain Celestial Group Inc, The Kraft Heinz Co., Ariza B.V., Newberry International Produce Limited, Grünewald Fruchtsaft GmbH, Tree Top Inc., Hiltfields Ltd., and Shimla Hills Offerings Pvt. Ltd., Antigua Processors S.A., SunOpta Grains and Foods Inc.

Symrise AG is one of the largest players manufacturing organic and fair trade banana puree internationally. Döhler GmbH offers high quality private label banana puree catering to consumer brands.

Key opportunities: Increasing consumer preference for fruit-based and plant-based foods presents significant opportunities for banana puree manufacturers. Geographical expansion particularly in Asia Pacific and Latin America is another key growth area.

Global expansion: Major players are focusing on strategic partnerships and acquisitions to expand globally and strengthen supply chain capabilities. Banana producing countries are also investing in processing facilities to cater to growing international demand.

Market Drivers

- Growing health and wellness trend is driving demand for natural and nutritious food ingredients like banana puree. Its use in baby food and dietary supplement formulations is fueling market growth.

Market Restraints

- Vulnerability of banana crops to fungal diseases can temporarily affect supply and prices. Extreme weather conditions also pose risks to consistent production. Banana puree manufacturers and producers require to device mitigation strategies to counter such restraints.

Segment Analysis

The banana puree market is dominated by the organic banana puree sub segment. The consumption of organic foods has increased significantly over the past decade due to rising health consciousness among consumers. Organic banana puree is preferred over conventional puree as it is free from chemicals and has higher nutritional value. It contains no pesticide residues and is considered safer for consumption, especially for babies and children. This is driving the demand for organic banana puree and making it the dominant sub segment in the market.

Global Analysis
Europe holds the largest share in the global banana puree market currently. Countries like Germany, UK, France and Italy have seen rising demand for banana puree products over the years due to increasing consumption of convenient and healthy baby foods and baked goods. However, the market in Asia Pacific is expected to witness highest growth during the forecast period. Rapid urbanization, rising disposable incomes and growing awareness about nutritional benefits of banana puree are boosting its consumption in developing nations of China and India. Additionally, Latin American countries like Ecuador, Colombia and others which produce bananas in large quantities are emerging as major exporters of banana puree globally.