During the projected period, the banana puree market is expected to register a CAGR of 9.2%. The market value is projected to increase from USD 381.7 million in 2023 to USD 919 million by 2033.
| Attribute | Details |
|---|---|
| Market Size (2023) | USD 381.7 million |
| Market Size (2033) | USD 919 million |
| CAGR (2023 to 2033) | 9.2% |
A functional beverage is often meant to provide certain health benefits to consumers. Most functional beverages contain vitamins, minerals, roots, and fruit purees. Some examples of functional beverages include energy drinks, performance drinks, and enhanced fruit drinks.
Developed countries such as North America will remain the biggest markets for functional beverages due to demographic features like test and consumer awareness docket.
Functional beverages, including banana puree, can benefit from the presence of banana puree, improving the global banana puree market. An incremental potential worth nearly USD 537 million for the period from 2023 to 2033 is waiting to be tapped in the beverage sector of the banana puree trade.
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The increase in the employment of women in the worldwide workforce has been helping to boost the worldwide demand for baby food groceries. Baby yogurt and protein-rich little cereal often contain purées with different flavors as the key ingredients.
The infant food segment has eclipsed every other segment in banana puree production due to the significant popularity of banana puree in the production of an assortment of edible products. The infant food segment is anticipated to be worth approximately USD 919 million by the year 2033, making it the largest segment in the banana puree market.
Consumers quickly find beverages that provide them with maximum health benefits based on sound reasoning and facts. Regrettably, they are often wary of the big claims about ingredients and health benefits of big-name beverage manufacturers. This can spur some degree of certainty and clarity in regard to specific ingredients of functional beverages that are marketed aggressively.
The greater the emphasis on the security and labeling of products, the more prominent the manufacturing of false health claims for legitimate products appears. This poses a threat to the banana puree market expansion.
The rising income levels, interest in convenience foods, and rising consumption of health foods have helped turn the bakery business upside down. The baked goods category offers items like pizzas, breads, rolls, biscuits, and desserts.
Banana cakes are generally famous among European consumers, and French banana cakes are a particularly popular item. Globally, the bakery and dessert sector had a market share of around 4.9% of the banana puree market in 2023. It’s estimated that it will lose 66 BPS by 2026.
Cosmetics Europe estimates that the personal care and cosmetics market in Europe had a worth of about USD 90 billion at retail expense in 2016. Major cosmetic manufacturers such as Procter & Gamble, Unilever, and L’Oreal have invested greatly within the industry, with several corporations eager to introduce products that include fruit ingredients.
For example, Body Shop International, a subsidiary of L'Oréal Group, has created a banana shampoo with banana puree as a key ingredient. Cosmetics is part of Other in the Western Europe banana puree market and is expected to have a volume of more than 2900 metric tons by 2033.
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The United States banana puree market is growing rapidly. This is due to the increasing popularity of health drinks and smoothies. More and more people are looking for healthy options when it comes to their beverages. Banana puree is a great alternative to sugary drinks because it is low in calories and fat. In addition, banana puree is a good source of vitamins and minerals.
The performance of the banana puree market in India has been strong in recent years, with sales growing steadily.
There are several reasons for India's strong performance of the banana puree market. First, the population of India is growing rapidly, and as incomes rise, more people are able to afford to purchase processed foods like banana puree. Second, the climate in India is conducive to growing bananas, and there is a large supply of fresh bananas available for processing into puree.
Third, Indian consumers are becoming increasingly health-conscious and are looking for healthy food options that are easy to prepare. Banana puree fits this need perfectly, as it is a healthy food that can be easily added to smoothies or used as an ingredient in recipes.
In the past few years, China's economy has been growing at a rapid pace and is now the world's second-largest economy. This economic growth has led to an increase in the purchasing power of the Chinese consumer. As a result, many international companies have started to target the Chinese market for growth. The banana puree market is no exception.
Many market players see China as a potential growth market for banana puree due to the increasing demand from Chinese consumers. The Chinese government's policies also support the growth of the domestic food processing industry, which is expected to boost the demand for banana puree in China. In addition, China's large population and growing middle class provide a significant opportunity for companies operating in this market.
Banana puree is a popular product in both Japan and Indonesia. The countries have seen a surge in demand for the product, and they are working to meet this demand. Japan and Indonesia are both tropical countries, so it is no surprise that they are among the top producers of banana puree. The two countries have seen a surge in demand for the product in recent years and are working to meet this demand.
Banana puree is used in a variety of products, including baby food, ice cream, and baked goods. It is also a popular addition to smoothies and other beverages. Japan and Indonesia are working to increase their production of banana puree to meet the growing consumer demand.
The global market for Banana Puree is incredibly fragmented and competitive due to the existence of several local and regional rivals. Key players employ a range of marketing strategies, such as partnerships, expansions, mergers and acquisitions, and collaborations.
Some of the leading companies 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., SunOpta Grains and Foods Inc.
The banana puree market has witnessed significant growth, with its size reaching USD 381.7 million in 2023.
The banana puree market is predicted to register a valuation of USD 919 million by 2033.
The banana puree market is anticipated to evolve at a CAGR of 9.2% through 2033.
Prominent countries in the banana puree market include the United States, China, India, and Japan.
Symrise AG, Döhler GmbH, Kiril Mischeff, Riviana Foods Pty Ltd, and Nestlé S.A. are key banana puree market players.
| Market Estimated Size in 2024 | USD 628.7 million |
|---|---|
| Projected Market Size in 2034 | USD 892.8 million |
| Value-based CAGR (2024 to 2034) | 3.6% |
| Market Size (2023) | USD 959.9 million |
|---|---|
| Market Size (2033) | USD 3,600.8 million |
| Market CAGR (2023 to 2033) | 14.1% |
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Banana Puree Market
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