BANANA PUREE MARKET ANALYSIS

Banana puree is obtained by blending banana into soft and thick pulp. The processing of the banana is done by blender, pressing banana through strainer or by potato masher. Banana puree is good source of potassium and rich in dietary fiber which helps to lower the risk of heart disease, maintain blood pressure and acidity level and to regulate water balance in body.

Drivers and Restraints

• Increasing demand for functional beverages and growing demand for baby nutrition food are some of the major factors burgeoning the growth of banana puree market over the forecast period. According to the Coherent Market Insights, global baby food market was valued at US$ 34.95 Billion in 2016 and is expected to reach US$ 60.04 Billion by 2025.
• However the short lifespan of the banana is restraining the growth of the market. Furthermore, fluctuating import prices on banana also hinder the market growth. According to the U.S. Food and Agriculture Organization (FAO), in U.S., the average import prices on banana was USD 957 per tons in 2015, 3.2% above the previous year’s level, due to its increasing demand. However, In European Union, import prices on banana was USD1027.67 per tons in March 2015 and dropped to USD 945.02 per tons by the end of 2015.

Market Trends

• Infant food application segment accounted for the largest market share in 2017. This is attributed to increasing number of working women are inclined towards nutritious, healthy, sweet and tasty food, driving the growth of this application segment. According to U.S. Department of Labor, in U.S., 61.4% of mothers were in the labor force with children under 3 years of age, representing over 34.2% of working women, in 2015.
• On the basis of source type, organic source of banana puree is expected to account a dominant position in 2020 as compared to conventional source, owing to the increasing awareness related to the side effects of using synthetic fertilizers, such as skin disease and others. However, high prices of organic banana shows a negative growth of this segment.
• Based on distribution channel, supermarket, contributed a significant share in the global banana puree market in 2017. However, the online channel is supposed to grow rapidly during the forecast period, owing to the technological advancements and increasing internet penetration in emerging economies.

Market Outlook

• Europe is projected to exhibit a significant growth in global banana market in 2017. This is attributed to increasing awareness among consumer regarding the health benefits of banana puree as it is naturally free of sodium, cholesterol and fat. Furthermore, increasing sales of instant baby food due to fast paced life of parents in Europe, results in growing tropical fruit puree consumption, is expected to fuel the market growth. According to Centers for the Promotion of Imports (CBI), Ministry of Foreign Affairs, the tropical puree consumption in Europe was USD 225 million in 2014 and reached up to US$ 283.64 million in 2016. Also, manufacturers are focusing towards developing new products to enhance their product portfolio and to fulfill consumer demand, further driving the growth of banana puree market. For instance, in February 2017, Piccolo Pure, one of the U.K. based fruit based puree manufacturer, launched the collection of fruit purees for babies in various flavors such as banana, mango and apple.
• Asia Pacific is expected to hold a largest market share in 2017 in global banana puree market, due to increasing banana production and its consumption. According to U.S. Food and Agriculture Organization (FAO), India is one of the biggest banana producers and produced 29 million tonnes per year on an average between 2010 and 2015 while China produced 11 million tonnes showing continuous production growth results in positive growth of the market. According to the Government of India, banana puree constitutes 9% of the primary banana products market.

Market players

• Some of the leading players operating in the global banana puree market include Döhler GmbH, Nestlé S.A., The Kraft Heinz Company, SunOpta Grains and Foods Inc., Newberry International Produce Limited, Riviana Foods Pty Ltd, Antigua Processors S.A., Ariza b.v, Shimla Hills Offerings Pvt. Ltd, Hiltfields Ltd., among others.
• Key players are focused on adopting various organic and inorganic growth strategies such as mergers and acquisitions, joint ventures and partnerships, and product or technological innovations to retain position in the banana puree market. For instance, in April 2014, Antigua Processors, a subsidiary of Gautemalan Processing Company, opened a banana puree factory to double its output and to meet the increasing demand for banana puree for infants drink.

Banana Puree Market Taxonomy

On the basis of source, the banana puree market is segmented into:

• Conventional
• Organic

On the basis of application, the banana puree market is segmented into:

• Bakery & Snacks
• Dressings & Sauce
• Ice Cream & Yoghurt
• Infant Food
• Others

On the basis of distribution channel, the banana puree market is segmented into:

• Supermarket
• Hypermarket
• Convenience Stores
• Online Stores
• Others

Banana Puree Market Key Developments:

Major companies operating in banana puree market are adopting various strategic initiatives such as product developments and mergers & acquisition in order to maintain their competitive position in the global market.

For instance, in January 2019, The Kraft Heinz Company, leading player engaged in manufacturing banana puree and other products, announced the acquisition of Primal Nutrition, LLC, producer of Primal Kitchen branded products. This acquisition is to contribute to expanding product portfolio of The Kraft Heinz Company.

Furthermore, in Feb 2017, Piccolo added to its existing product portfolio by launching new range of individual fruit purees for babies available in five flavors: banana, Stanley plum, mango, Williams pear, and apple.

In September 2018, Coca-Cola India launched Minute Maid smoothie with fruit juice containing milk, fruit purees, and other products. The smoothie is made using various puree and is available in banana and mango variant in the market.

In April 2017, Beyond the Bean added to its existing product portfolio with the launch of its new line Sweetbird fruit purees available in six flavors including strawberry, mango, coconut, raspberry, banana, and passionfruit.