by The global Banana Puree Market is estimated to be valued at US$ 381.07 million in 2023 and is expected to exhibit a CAGR of 9.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Banana puree is a thick and smooth puree made from bananas. It is widely used in infant foods, fruit-based beverages, yogurt, ice-cream, and desserts. Banana puree offers several advantages over whole bananas such as easy swallowing, no risk of choking, and better nutritional absorption in babies and young children. The need for nutritious and convenient baby food options is driving the demand for banana puree.
Market key trends:
One of the key drivers of the banana puree market is the increasing usage of banana puree in baby food and beverages. Banana puree is soft, sweet-tasting, and easy to swallow, making it an ideal first food for infants. It is a natural source of potassium and vitamins B6 and C and is easily digestible. Various baby food manufacturers are introducing banana puree pouches, jars, and cereals to cater to the rising demand from parents for convenient and nutritious baby meals. This widespread availability of banana puree in different baby food formats is expected to boost the growth of the market over the forecast period.
SWOT Analysis
Strength: Banana puree has high nutritional value and is versatile for use in various food products like baby food, yogurt, ice cream etc. It has long shelf-life and is available at lower costs compared to other fruit purees.
Weakness: Price fluctuations in raw material bananas affect profitability for banana puree producers. Quality of raw bananas varies with seasons impacting the taste and quality of puree.
Opportunity: Rising health-consciousness is driving demand for fruit-based and natural food ingredients like banana puree. Product innovation and new applications in beverages and desserts present opportunities.
Threats: Changes in climatic conditions pose risks to banana cultivation affecting supply. Competition from alternative fruit purees can impact market share.
Key Takeaways
The global banana puree market is expected to witness high growth over the forecast period driven by rising demand for fruit-based and natural food products.
Regional analysis: The Asia Pacific region dominates the banana puree market currently accounting for around 40% share globally. Countries like India, China, Philippines are major producers and consumers of bananas. Latin American countries like Ecuador, Brazil and bananas are a key crop and exporters of banana puree. The popularity of banana-based products is increasing in Western European countries and North America presenting opportunities.
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., Shimla Hills Offerings Pvt. Ltd., Antigua Processors S.A., SunOpta Grains and Foods Inc. The major players focus on capacity expansions and new product launches catering to evolving tastes.
