BANANA PUREE MARKET ANALYSIS

Regional Analysis

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.