Banana Puree Market

Banana Puree Market Outlook (2024 to 2034)

Revenue from the global banana puree market size is expected to reach US$ 1.54 billion in 2024. Worldwide sales of banana puree have been projected to rise at a CAGR of 5.5% and reach US$ 2.63 billion by the end of 2034.

Banana puree is known for its wide range of health benefits, making it highly sought-after in skincare and haircare products. It is well-known for its strong antioxidants that fight aging, moisturize skin, control oil, treat dandruff, and promote hair growth.

In food and beverage manufacturing, stability is increasingly achieved by using plant-derived ingredients like citrus fruits, apples, and bananas. These natural elements are prized for their health benefits and are being integrated into a variety of food products.

Key Market Growth Drivers

• The bakery industry has been growing at a significant rate due to rising demand for convenient food products. Traditional packaged baked goods are facing stiff competition from other ready-to-eat and traditional packaged foods.
• The development of bakery ingredients with wellness benefits is a positive banana puree market trend benefitting market players.
• The bakery industry specializes in the production of baked cakes in a variety of flavors, with banana cakes being particularly popular and in high demand. These cakes are typically made with banana puree. Hence, increasing the utilization of banana puree in baked products will drive the market forward.
• Banana puree comes with many health benefits and is widely used in cosmetic products for skin and hair, contributing to its market growth.
• Banana puree is rich in antioxidants, renowned for its anti-aging properties, and offers additional benefits such as moisturizing skin, controlling oil, combating dandruff, and promoting hair growth.
• Banana puree is associated with various health benefits and is a favored ingredient in cosmetics for its nourishing effects on the skin and hair.

Report Attribute	Detail
Banana Puree Market Size (2024E)	US$ 1.54 Billion
Forecasted Market Value (2034F)	US$ 2.63 Billion
Global Market Growth Rate (2024 to 2034)	5.5% CAGR
East Asia Market Share (2024E)	21.8%
North America Market Growth Rate (2024 to 2034)	5.7% CAGR
Sales of Conventional Banana Puree (2024E)	US$ 1.37 Billion
Key Companies Profiled	The Kraft Heinz Co.; Ariza B.V.; Newberry International Produce Limited; Grünewald Fruchtsaft GmbH; Tree Top Inc.; Hiltfields Ltd.; Symrise AG (Cobel Ltd); Döhler GmbH; Kiril Mischeff; Riviana Foods Pty Ltd.; Nestlé S.A.; The Hain Celestial Group, Inc.; Shimla Hills Offerings Pvt. Ltd.; Antigua Processors S.A.; SunOpta Grains and Foods Inc.; FructaCR S.A.

How is Banana Puree Setting Market Trends in the Cosmetic Industry?

“Antioxidant Properties of Banana Puree Driving Widespread Use in Skin Care Products”

Natural ingredients in personal care and cosmetics are derived from plants or animals. The rising awareness among consumers about synthetic chemicals in cosmetics has fueled demand for natural alternatives. Concerns about potential health risks associated with chemicals have driven a preference for cosmetics made from natural ingredients, like banana puree.

Banana puree is rich in antioxidants, which help the body combat free radicals. When applied to the skin, antioxidants contribute to its defense against damage caused by free radicals, including protection against sun damage. However, it is important to note that while bananas provide natural defenses, they do not replace the need for regular sunscreen application. Bananas also contain anti-inflammatory nutrients such as vitamin A, zinc, and manganese. Rubbing a banana peel on the face is known to help reduce blemishes and treat acne. All these factors are contributing to the banana puree market growth.

What Do Banana Puree Manufacturers Need to Watch Out For?

“Changing Climatic Conditions Affecting Banana Cultivation”

Uneven environmental conditions are leading to a significant impact on banana production rates, restricting market growth and affecting banana puree prices. Unfavorable climatic conditions are widening the demand-supply gap, posing challenges to various nations' food safety programs.

Severe climatic conditions, such as extreme or limited rainfall, and extreme cold or hot weather are creating an impact on fruit production, resulting in fluctuations in import prices that present a challenge to banana puree producers. Aside from this, the short shelf life of bananas, the banana browning problem, and fruit processing challenges are all major factors hindering the expansion of the banana puree market size.

Country-wise Insights

North America is poised to hold 25.1% of the global banana puree market share in 2024, as there is a shift towards organic farming in the region. Also, there is innovation in packaging and preservation. Consumers in India are increasingly health-conscious and seek nutritious, convenient food options. Banana puree aligns perfectly with these preferences as it is nutritious and can be easily incorporated into smoothies or recipes.

In China, many market players recognize the growing demand for banana puree among Chinese consumers. Government policies supporting the expansion of the domestic food processing industry are also expected to boost the demand for banana puree in China.

What is Driving Sales of Banana Puree in the United States?

“Low-Sugar and Sugar-Free Products Gaining Popularity”

Attribute	United States
Market Value (2024E)	US$ 170.7 Million
Growth Rate (2024 to 2034)	6.1% CAGR
Projected Value (2034F)	US$ 308.2 Million

The United States is expected to hold a significant market share of 44.5% in North America in 2024 as low-sugar and sugar-free products are gaining popularity in the country. Manufacturers are replacing sugar with natural and artificial sweeteners derived from fruit.

Beverage and snack manufacturers are frequently using bananas as a sweetener. Market growth in the United States is expanding rapidly due to the growing popularity of healthy beverages and smoothies. People are increasingly looking for healthier beverage options. Banana puree is a low-calorie and fat-free alternative to sugary drinks. Furthermore, banana puree contains plenty of vitamins and minerals.

What is the Sales Outlook for Banana Puree in Japan?

“Emphasis on Expansion of Production Capacity for Banana Puree”

Attribute	Japan
Market Value (2024E)	US$ 98.2 Million
Growth Rate (2024 to 2034)	6% CAGR
Projected Value (2034F)	US$ 175.3 Million

Banana puree is widely popular in Japan, where demand is steadily rising. Japan ranks among the top producers of banana puree. In recent years, there has been a notable increase in demand for this versatile product, which is utilized in various applications such as baby food, ice cream, baked goods, smoothies, and beverages. To keep pace with the growing consumer interest, Japan is ramping up banana puree production, thereby expected to accelerate market growth.

Category-wise Insights

Banana puree finds widespread applications in the food & beverages, foodservice, and retail/household industries. The F&B segment is set to hold a market share of 41.9% in 2024. Banana puree is widely used in snacks and is especially popular in the baking and snack industries. Consumer preferences for a smooth texture and robust flavor are influencing the global bakery industry, both emerging and developed. Banana puree is available in organic and conventional and the latter is estimated to account for 88.8% of the market share in 2024.

Which End Use Accounts for Substantial Revenue Streams?

“Widespread Use of Banana Puree in Food & Beverages for Natural Flavor”

Attribute	Food & Beverages
Segment Value (2024E)	US$ 646.2 Million
Growth Rate (2024 to 2034)	5.3% CAGR
Projected Value (2034F)	US$ 1.09 Million

The food and beverage segment is poised to account for 41.9% of the banana puree market in 2024. Smoothies, juices, and milkshakes are made with banana puree. These products have a distinct, natural flavor and a full-bodied texture. Banana puree is preferred here because it looks more homemade, with visible chunks of banana.

Why is the Market Still Ruled by Conventional Banana Puree?

“Cost Efficiency of Conventional Banana Puree Driving Force for its Preference”

Attribute	Conventional
Segment Value (2024E)	US$ 1.37 Billion
Growth Rate (2024 to 2034)	5.5% CAGR
Projected Value (2034F)	US$ 2.35 Billion

Conventional banana puree is generally cheaper to produce than organic versions, making it more accessible to both consumers and food manufacturers. The conventional banana industry benefits from well-established supply chains and manufacturing processes that ensure reliable availability and consistent quality.

Conventional farming methods typically yield higher quantities compared to organic methods, ensuring a steady supply to meet market demands. Despite the growing popularity of organic products, conventional banana puree remains preferred by a broader segment of price-conscious consumers. It is extensively utilized in diverse food products such as baby food, baked goods, ice cream, and beverages, contributing significantly to its substantial market share.

Competition Analysis

Key players in the banana puree market prefer e-commerce channels allowing them to offer banana puree at affordable prices. Apart from these improved social media campaigns, raising awareness regarding the different health benefits associated with the consumption of fruit purees is another factor in improving sales of banana puree.

• Greenikk, an agribusiness startup based in Kerala, India, launched an end-to-end supply chain in October 2022 to connect banana cultivators, traders, and exporters on a single platform. The startup has established Enablement Centers (EC) in the major banana-producing agriculture belts of Kerala, Tamil Nadu, and Karnataka, India, to provide farmers with production and market-related support.
• In August 2022, three companies operating in the Philippines, Usman Banana Farm, Tayan Banana Farm, and Abai Banana Farm, invested more than US$ 8.7 million in Matanog, Maguindanao. The investments are intended to boost banana production in the town, where the Cavendish and Cardava varieties are primarily grown.

Fact.MR provides detailed information about the price points of leading banana puree manufacturers positioned across the world, sales growth, production capacity, and speculative technological expansion, in this new market report.

Segmentation of Banana Puree Market Research

• By Nature :

  • Organic
  • Conventional

• By End Use :

  • Food & Beverages
  • Foodservice
  • Retail/Household
  • Cosmetics & Personal Care

• By Distribution Channel :

  • Business to Business
  • Business to Consumer

• By Region :

  • North America
  • Western Europe
  • Eastern Europe
  • Latin America
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa