Banana puree is a smooth pureed version of banana fruit obtained by pressing and sieving the flesh of ripe bananas. It has various advantages as a food ingredient such as high nutritional value, pleasant taste, and smooth texture. Banana puree is widely used in baby food products due to its nutritional profile and easy digestibility. It is also utilized in various food and beverage applications like dairy products, bakery products, desserts, juices, and smoothies to enhance flavor and texture. The growing demand for convenience and ready-to-eat foods has fueled the usage of banana puree in packaged food items.

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 from 2023 to 2030.

Key Takeaways

Key players operating in the banana puree market include 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 rising demand for healthy and nutritious baby food products is a major factor propelling the consumption of banana puree globally. Banana puree offers several health benefits and is easily digestible, making it suitable for babies and young children.

Emerging economies in Asia Pacific and Latin America are expected to witness significant growth in the banana puree market over the forecast period. Growing health awareness and rising disposable incomes in developing nations are fueling the demand for high-quality banana puree in these regions.

Market Key Trends

The increasing usage of banana puree as a substitute for refined sugar in various foodstuff is one of the key trends being witnessed in the global market. Banana puree has a mildly sweet flavor and acts as a natural sweetener in food products like yogurt, ice cream, and cereal bars. This helps reduce sugar content and provides associated health benefits. Banana puree blends well in recipes for baby foods and breakfast cereals as its sweet taste and smooth texture make the final products more palatable for infants and children. The trend of using banana puree instead of sugar is expected to continue thus propelling the market growth.

Porter’s Analysis

Threat of new entrants: New entrants cannot easily enter the market as they require high initial investments in machinery, land and raw materials.

Bargaining power of buyers: Buyers have moderate bargaining power since banana puree has substitutes like apple sauce and there are many established players in the market.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power since bananas can be sourced from various countries and there are many suppliers.

Threat of new substitutes: Substitutes like apple sauce pose moderate threat since they are not perfect substitutes for banana puree.

Competitive rivalry: Fierce competition exists among key players to gain market share.

Geographical Regions

In terms of value, the banana puree market is currently concentrated in North America and Europe. The per capita consumption of banana puree is higher in these regions.

Asia Pacific is expected to be the fastest growing region during the forecast period owing to rising disposable incomes, growing health consciousness, and expanding retail sector in major countries like India and China. Increased usage of banana puree in infant food and beverages will support the market growth in Asia Pacific.