Banana puree, a puréed version of bananas, is used as an ingredient in various food processing applications in the food and beverage industry. Banana puree has high nutritional value as it contains potassium, vitamins, minerals and fiber. It is used in making baby food, yogurt, ice cream, shakes, sauces and bakery items to enhance taste and provide nutritional benefits. The rising demand for convenience food due to fast-paced lifestyle has propelled the sales of banana puree globally.

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 banana puree market provides significant opportunities in the baby food sector due to increased awareness about nutrition requirements of infants and children. Technological advancements have enabled production of pureed bananas with longer shelf life through pasteurization, which is fueling market growth.

Market drivers

The global banana puree market is driven by the rising demand for convenient and healthy food products that provide nutritional value. Banana puree has gained popularity as an ingredient in baby food, yogurt, ice cream and bakery products due to its nutritional composition and taste. Growing working population and increasing disposable income levels are augmenting the demand for value-added convenience food products containing banana puree.

Current challenges in Banana Puree Market:

The banana puree market is facing challenges related to unpredictable climate conditions and diseases affecting banana plantations. Extreme weather events like heavy rains, floods and droughts are negatively impacting banana crop yield across various regions. Additionally, diseases such as Panama disease and bacterial wilt are continuously spreading among banana plantations, destroying farmlands. This poses a major threat to the steady supply of banana puree. Also, fluctuation in raw material prices coupled with supply chain disruptions triggered by the ongoing pandemic are placing pressure on manufacturers' margins and profitability.

SWOT Analysis

Strength: High demand for banana puree due to wide usage in baby food, dairy products, and beverages. Abundant availability of bananas in tropical regions is a key advantage.
Weakness: Vulnerability of banana plantations to climate change effects and diseases. Dependency on few key growing regions can affect supply stability.
Opportunity: Growth of organic and non-GMO segments presents new revenue avenues. Developing modified banana varieties resistant to diseases through research can boost banana yield.
Threats: Increasing frequency and severity of climate catastrophes poses production risks. stringent food safety regulations in major markets negatively impact exports.

Geographical regions of concentration

In terms of value, Latin America accounted for the largest share in the global banana puree market in 2023. Countries like Ecuador, Colombia and Philippines are among the leading banana producers worldwide. Latin America contributes over 30% of global banana supply and is a dominant exporter to North America and European markets.

Fastest growing geographical region

Asia Pacific region is poised to witness the highest growth in banana puree market during the forecast period. Rise of Chinese and Indian markets attributed to changing dietary habits and high demand from infant food and beverage sectors. Countries like India and China are investing to increase their banana cultivation to tap this growth potential. Rising health awareness is also spurring demand for nutrient-rich banana puree in dietary supplements and sports drinks.