Banana Puree Market Indicates Rising Preference for Plant-Based Foods by 2030

Banana puree is widely used in baby food and beverages owing to its nutritional benefits and smooth texture. It is a rich source of potassium and can be processed easily from ripe bananas. With growing health consciousness, demand for plant-based ingredients is surging in various food products. This has propelled the banana puree market significantly over the past few years.

Banana puree offers advantages like versatility, easy digestion, and smooth consistency ideal for baby foods. It is rich in fiber, vitamins, and minerals that help promote gut health and immunity. Banana puree is utilized in dairy alternatives, breakfast cereals, desserts, smoothies, and more to enhance taste and nutritional value. As banana puree can retain the original flavor and appeal of ripe bananas, it is gaining popularity as a natural ingredient in various applications.

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, Tree Top Inc., Hiltfields Ltd., Shimla Hills Offerings Pvt. Ltd., Antigua Processors S.A., and SunOpta Grains and Foods Inc.

The growing demand for plant-based, organic, and non-GMO ingredients in food and beverages is fueling the banana puree market. Manufacturers are offering innovative puree products fortified with additional nutrients to cater to consumer demand.

Key players are expanding their production facilities globally to ensure supply security and access new markets. The banana puree market is expected to witness rising opportunities in developed regions due to increasing vegan and flexitarian population.

Market Key Trends
Consumption of functional and convenience foods is surging significantly among millennial consumers. Banana puree appeals to this trend due its nutritional profile and versatility for product development. Manufacturers are developing new formats like single-serve banana puree pouches to leverage the on-the-go trend. Innovation in processing technology allows banana puree to be incorporated into various applications without compromising taste or texture. Sustainable and eco-friendly packaging solutions are gaining traction to attract health-conscious consumers.

Porter’s Analysis
Threat of new entrants: Low barriers to entry and low startup costs makes new players enter the market easily. However, already established players have an edge due to their strong brand image and distribution channels.
Bargaining power of buyers: The buyers have moderate bargaining power due to the availability of substitutes. However, the established brands have strong buyer loyalty.
Bargaining power of suppliers: Suppliers of raw banana have significant bargaining power due to limited availability of quality produce in selected regions.
Threat of new substitutes: Substitutes like fruit purees and juices pose little threat as banana puree has distinct taste and nutritional profile preferred by consumers and food manufacturers.
Competitive rivalry: Fierce competition among existing players to increase market share. Players adopt strategies around product innovation, quality, pricing and partnerships.

Geographical regions
The banana puree market in Europe accounts for the largest share in terms of value due to high per capita consumption of processed banana products. The demand is largely driven by countries like Germany, France and UK.
Asia Pacific region is expected to witness the fastest growth during the forecast period led by developing countries like India and China. Factors such as rising health consciousness, growing urban population and increasing expenditure on infant nutrition are fueling market growth.