Banana Puree Market Size, Share, Growth, and Industry Analysis, By Type (Conventional and Organic), By Application (Beverages, Infant Food, Bakery & Snacks, Ice Cream & Yoghurt and Others) and Regional Forecast to 2032

Updated On: 29 April 2024

BANANA PUREE MARKET REPORT OVERVIEW

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The global banana puree market size was USD 108.4 in 2020 and the market is projected to touch USD 191.22 million by 2032, exhibiting a CAGR of 5.3% during the forecast period.

Banana puree, a delightful baby food crafted from ripe bananas, offers essential nutrients crucial for an infant's overall well-being. This wholesome option serves as an ideal introduction to solid foods and can be effortlessly prepared by mashing or blending fresh, ripe bananas. Optimal bananas for puree are those with a pleasing yellow hue and a few brown spots. After peeling, bananas are either mashed for a chunkier consistency or blended for a smoother texture. Enhancing the flavour is an option with a sprinkle of cinnamon or a few drops of fresh lemon or orange juice to prevent browning.

Versatile banana puree enhances culinary creations, naturally sweetening yoghurt, serving as a baking ingredient, swirling into oatmeal, or blending with other fruit purees. It harmonizes with sweet potato, pumpkin, avocado, natural yoghurt, and baby oatmeal. Moreover, it introduces natural sweetness when mixed with rice cereal or oatmeal. Conveniently stored in the refrigerator or frozen in an ice cube tray for later use, banana puree proves to be a practical and nutritious addition to a baby's diet, offering a spectrum of flavours and textures for diverse and wholesome feeding options.

COVID-19 Impact: Challenges persist for the baby food during the pandemic impact the market

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The pandemic has significantly influenced the market dynamics of baby food products, especially those incorporating banana puree. Consumer behaviour has undergone substantial transformations driven by heightened health concerns during the crisis. A noticeable surge in demand for baby food items with natural and minimally processed ingredients, including banana puree, is observed as consumers prioritize health and wellness. However, the pandemic has also brought about challenges such as supply chain disruptions and economic uncertainties, negatively impacting the production and distribution of baby food products. The industry is grappling with these hurdles while simultaneously navigating the evolving preferences of health-conscious consumers.

LATEST TRENDS

Growing opportunities for E-commerce and retail companies are fueling success in the market

The expanding prevalence of banana puree is creating burgeoning prospects for both E-commerce and retail companies engaged in supplying this sought-after product. This upsurge is attributed to the growing acceptance and adoption of banana puree among consumers. As the demand for banana puree rises, E-commerce platforms and retail businesses are poised to benefit significantly. The increased adoption of banana puree as a versatile and nutritious ingredient in various culinary applications has spurred this trend. The shift in consumer preferences towards healthier food choices has propelled E-commerce and retail players to capitalize on the escalating demand for banana puree, opening up new avenues for business growth. Consequently, these companies find themselves in a favourable position to cater to the evolving tastes and preferences of consumers, thereby fueling their success in the market.

BANANA PUREE MARKET SEGMENTATION

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• By Type

Based on type the global banana puree market can be categorized into Conventional and Organic.

Conventional: The conventional banana puree market is steadily growing, driven by an increasing demand for natural products. It finds versatile applications in beverages, infant food, bakery, snacks, ice cream, and yoghurt. The adoption of advanced technology enhances efficiency, reduces costs, and improves product quality. With rising consumer demand and technological advancements, the conventional banana puree market is expected to sustain growth, supported by established market players and their significant market presence.

Organic: Consumer preferences for natural and organic products are propelling the organic banana puree market, meeting the demand for clean labels and sustainable options. Notably, growth is attributed to the popularity of organic and healthy choices. Advanced technology enhances production, quality, and market presence. The sector's continued growth is fueled by increasing consumer awareness, the influence of major market players, and a rising appetite for organic and sustainable food products.

• By Application

Based on application the global market can be categorized into Beverages, Infant Food, Bakery & Snacks, Ice Cream & Yoghurt and Others.

Beverages: Banana puree is a sought-after ingredient in health-conscious beverages such as smoothies and milkshakes, providing natural sweetness and creaminess. It enhances the flavour of smoothies, creates delightful milkshakes, and complements other fruit purees in nutritious drinks, catering to the preference for wholesome and natural choices.

Infant Food: Banana puree is a standout ingredient in infant food, prized for its natural sweetness, smooth texture, and rich nutrition. Widely used in baby cereals and jars, it provides a healthy and tasty option for infants, supporting their growth. The rise of organic baby food, featuring banana puree, aligns with the growing parental preference for natural choices. Innovations in stage-specific and organic banana puree products address the demand for wholesome infant nutrition, boosting the banana puree market's share in the infant food segment.

Bakery & Snacks: Banana puree, a versatile ingredient in bakery and snacks, enhances banana bread, cookies, and fruit snacks with its natural sweetness. The growing demand for health-focused snacks drives the banana puree market, as it acts as a natural sweetener in banana bread and serves as a base for healthier banana cookies. Its appeal extends to gluten-free and vegan options, offering a natural and wholesome alternative to refined sugars and additives.

Ice Cream & Yoghurt: Banana puree enhances ice cream and yoghurt products, providing natural sweetness and smooth texture in banana ice cream and yoghurt. It caters to the growing demand for healthier and flavorful options. As a key ingredient, banana puree diversifies yoghurt flavours and contributes to fruit-on-the-bottom yoghurt. Its use in dairy and non-dairy alternatives aligns with diverse dietary needs, while innovations in flavoured yoghurt and fortified banana ice cream meet the rising preference for wholesome and natural options.

Others: Banana puree thrives in the "Others" category, fueling growth with applications in sauces, dressings, and toppings. Increased demand for natural and healthy food options drives this sector. Acting as a base for barbecue and sweet and sour sauces, banana puree provides natural sweetness. It offers a health-conscious alternative to salad dressings and enhances taste and consistency in pancakes, waffles, and oatmeal toppings. Its versatility extends to smoothie bowls, enriching flavour and texture, while serving as a meat marinade adds natural sweetness and tenderness to the meat.

DRIVING FACTORS

Growing awareness of the health benefits of bananas is expected to boost the market

The thriving expansion of the global banana puree market growth mirrors a nutritional powerhouse, delivering a multitude of health advantages owing to its abundant reserves of potassium, magnesium, vitamin B6, and antioxidants. These elements collectively support heart health, digestive well-being, and effective weight management. The fibre within bananas, including the soluble variety, contributes to cholesterol and blood pressure regulation, promotes a sense of satiety, and aids in weight control. Notably, the presence of resistant starch in bananas acts as a prebiotic, fostering gut bacteria and bolstering digestive health. Scientific evidence strongly supports the role of potassium-rich foods particularly bananas in reducing blood pressure and fortifying against heart disease. Additionally, the consumption of bananas, along with other fruits, assists in regulating blood sugar levels owing to their fibre content.

Versatility in culinary applications is expected to expand the market

Banana puree, a versatile ingredient, drives market growth with applications in baby foods, smoothies, ice creams, desserts, and more. Increasing demand is fueled by growing consumer awareness of its health benefits and a preference for natural ingredients. This thick and creamy puree, derived from mashed bananas, acts as a natural sweetener, flavour enhancer, thickener, and texturizer in various culinary creations. Its concentrated banana essence makes it a nutritious addition to diverse food and beverage products. Notably, banana puree serves as an ideal first food for infants, easily prepared by mashing or blending ripe bananas, offering a versatile and convenient option for homemade baby food. The surge in demand underscores its pivotal role in meeting evolving consumer preferences for wholesome and natural ingredients.

RESTRAINING FACTORS

Diverse fruit purees enrich the offerings enhancing the market

A diverse array of fruit purees, encompassing flavours such as apple, orange, guava, and strawberry, graces the market with their delectable offerings. Each variant, derived from its respective fruit, brings a unique and vibrant taste profile, catering to a broad spectrum of consumer preferences. Apple puree delivers a sweet and slightly tart essence, while orange puree offers a zesty and citrusy burst. Guava puree introduces a tropical sweetness, and strawberry puree contributes a delightful berry flavour. These fruit purees, readily available on the market, serve as versatile ingredients in the culinary landscape. Their applications span from enriching beverages, desserts, and sauces to enhancing the overall sensory experience in various food creations. With an abundance of choices, consumers can explore and integrate these diverse fruit purees into their culinary endeavours, adding a burst of natural flavours to their dishes.

BANANA PUREE MARKET REGIONAL INSIGHTS

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Asia Pacific region dominating the market due to high production and consumption

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

The Asia Pacific region emerges as the forefront leader in the global banana puree market share, driven by substantial banana production and consumption. This dominance is underscored by notable rates in both the cultivation and utilization of bananas. The region's pivotal role is evident in the heightened levels of banana production and consumption, emphasizing its critical position in the banana puree market. This leadership stems from the widespread integration of bananas into diverse culinary practices, highlighting the cultural and economic significance of this tropical fruit in the Asia Pacific region. The collective influence of these factors firmly establishes the region as a key influencer and significant contributor to the flourishing banana puree market, solidifying its preeminent position in this sector.

KEY INDUSTRY PLAYERS

Mergers and acquisitions are a popular strategy among key industry players to gain a competitive edge in the market

Mergers and acquisitions represent a widely employed strategic approach by major industry players seeking to attain a competitive advantage, broaden their product range, and extend their market footprint. This strategic manoeuvre involves the combining of companies or the acquisition of one by another, facilitating various business objectives. Not only does it provide an avenue for companies to enhance their competitiveness within the market, but it also serves as a means to diversify their product offerings. Additionally, mergers and acquisitions enable organizations to expand their geographical reach, tapping into new markets and consumer bases. By fostering synergies and leveraging complementary strengths, companies engage in this strategic activity to fortify their market positions, adapt to evolving industry landscapes, and achieve sustainable growth in an increasingly dynamic business environment.

List of Market Players Profiled

• Jain Irrigation Systems (India)
• Sunrise Naturals (India)
• Galla Foods (India)
• Shimla Hills (India)
• Antigua Processors (Antigua and Barbuda)
• Tree Top (U.S.)
• Earth's Best (U.S.)
• The Kraft Heinz (U.S.)
• Paradise Ingredients (U.S.)
• Diana Food (Symrise) (France)
• Sas Sica Sicodis (France)
• Dohler (Germany)
• Grünewald Fruchtsaft (Germany)
• Nestle (Switzerland)
• Lemon Concentrate (Spain)
• Ariza (Spain)
• AgroFair (Netherlands)
• Hiltfields (U.K.)

INDUSTRIAL DEVELOPMENT

August 2023: The Colombian Banana Puree Facility has acquired the cutting-edge Ripening Rooms from Thermal Technologies. These innovative puree rooms distinguish themselves by receiving bulk bins of bananas at ambient harvest temperature and swiftly reducing them to the required temperature for gassing. This contrasts with conventional ripening rooms that handle palletized bananas starting at 14°C before adjusting them to the optimal gassing temperature. The new approach streamlines the process, enhancing efficiency and responsiveness in banana processing for the Colombian facility.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.