Banana Puree Market to grow at highest pace owing to Increasing Application in Baby Food and Dairy Products

Banana puree is a thick and creamy paste made from peeled and mashed bananas. It is rich in potassium, fiber and vitamins like Vitamin C and Vitamin B6. Banana puree is extensively used in baby food formulas, smoothies, ice creams, beverages and other dairy products due to its nutritional benefits and flavoring properties. With over 200 varieties, bananas are among the most commonly consumed fruits in the world.

The Global Banana Puree Market is estimated to be valued at US$ 381.7 Mn in 2024 and is expected to exhibit a CAGR of 9.2% over the forecast period 2023 to 2030.

Key Takeaways
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. Growing demand for banana puree from baby food manufacturers is expected to drive the market during the forecast period. Technological advancements such as aseptic processing and concentration techniques are helping market players improve the shelf-life and consistency of banana puree.

Market Trends
Consumers are increasingly preferring organic and non-GMO banana purees owing to rising health consciousness. Many market players have launched organic and non-GMO certified banana puree products to cater to this demand. Secondly, with rising global banana production, banana puree export is growing rapidly from Latin American and Asian countries to North America and European markets.

Market Opportunities
Growing application of banana puree in dairy products such as yogurt and ice cream presents significant growth opportunities. Secondly, banana puree blends with other fruits is a new product trend gaining popularity among consumers and food manufacturers. Market players can capitalize on this opportunity by launching innovative blended fruit puree products.

The COVID-19 pandemic had significant impacts on the banana puree market. Lockdowns and supply chain disruptions during 2020-2021 disrupted the production and distribution of banana puree. While demand increased as consumer cooked more at home, many suppliers faced issues in procuring raw materials and completing shipments. The restrictions on imports and exports adversely affected international trade of banana puree during this period.

As lockdowns eased in 2021, the banana puree market saw a gradual recovery. Manufacturers focused on improving local sourcing and optimizing distribution networks to enhance resilience against future disruptions. Many companies invested in automated production and packaging facilities to ensure continuity of operations even during workforce shortages. The banana puree market is expected to benefit from rising health awareness in the post-COVID era. Consumers are increasingly preferring products with natural ingredients and perceived immunity-boosting properties. This augurs well for the future growth prospects of the banana puree market.

In terms of value, Latin America accounts for the largest share in the global banana puree market mainly due to its dominant position in banana production and exports. Countries such as Ecuador, Philippines and Costa Rica are key suppliers globally. North America currently holds the second largest market share led by the United States. The banana puree market in Asia Pacific region is growing at fastest rate driven by rising consumption in populous countries like India and China. In Africa, countries importing raw bananas for processing are emerging as new lucrative markets for banana puree manufacturers and exporters.

The Asia Pacific region presents significant growth opportunities for banana puree market participants and is expected to be the fastest growing geographical region through 2030. Rising health awareness, increasing affordability and significant imports of raw bananas in China and India for processing are driving banana puree demand momentum in Asia Pacific. Populous and increasingly urban regions like Southeast Asia and South Asia are witnessing higher consumption of convenience, organic and natural food products containing banana puree. This makes Asia Pacific an attractive prospect for banana puree manufacturers looking to expand market share internationally over the coming years.