Banana Puree Market Detailed Analysis and Forecast - 2032 With a CAGR of 5.3%

Global consumption of banana puree is pegged around at 900,348 tons in 2022 and is expected to increase at a volume CAGR of 4.8% over the next ten years. Increasing demand for healthy snacking in the sports and performance nutrition market is one factor driving market growth.

Banana puree is considered to be one of the most important ingredients used in functional beverages. Market factors such as high disposable income coupled with increasing consumer awareness regarding the product's health benefits can be considered important growth drivers for the banana puree market. Suppliers and manufacturers do not need to invest heavily in storage and transportation. The long shelf life also minimizes the probability of defective batches. As a result, this is attracting more producers into the banana puree market globally.

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Moreover, banana puree lasts longer than fresh fruit. Frozen or cooled banana puree preserves all the minerals, vitamins, and proteins removed from the pulp during processing. As a result, it's widely used in food products such as yogurt, infant food, and beverages. The use of synthetic pesticides and sewage sludge in fruit farming, on the other hand, may be reflected in banana puree.

Furthermore, organic food products are no longer just products available for a few and are now available for everyone's benefit. Though organic products have higher prices associated with them due to several factors such as limited supply as compared to demand, higher production costs, and others, the health benefits offered by organic products are driving the worldwide organic products market. Compared to non-organic or conventional foods, clients perceive organic foods to be more nutritious, environment-friendly, and natural.

Consumers are now sensitive to information about processing and the impact of brands on the environment. Consumer well-being is thought to be more directly impacted by environmental issues. Those who are aware of the actions that contribute to environmental deterioration are willing to choose organic foods over conventional ones, which is benefitting the banana puree business.

Key Takeaways from Market Study

• The market for banana puree is anticipated to expand at volume CAGRs of 6.5% and 5.9% in East Asia and South Asia & Pacific, respectively, through 2032.
• The volume market shares of the Middle East and Africa and East Asia are 10.6% and 16.5%, respectively, in 2022.
• The Latin American banana puree market is currently pegged at 86,706 tons and is expected to reach 1, 36,424 tons by the end of 2032.
• The utilization of banana puree in bakery and snack products is increasing owing to its flavor and taste. Bakery and snack sales in North America and Europe accounts for market shares of 33.7% and 11.9%, respectively.
• The market for banana puree in South Asia and Pacific is expanding as a result of consumers' changing preferences for organic-based food products.
• The Europe organic banana puree market is expected to progress at a CAGR of 6.6% between 2022 and 2032.

"The F&B industry is expected to account for the highest share of the banana puree market owing to rising demand for use in bakery products & snacks, infant food, and dairy & dessert products," says a Persistence Market Research analyst.

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Competitive Landscape

Banana puree manufacturers are focused on increasing their organic product offerings through collaborations and sponsor partnerships. Many manufacturers are providing essential equipment and helping producers produce high quantity of organic banana puree.

• In 2020, FructaCR SA established its fruit processing plant in Costa Rica. The strategic location of the processing unit allows the company to gain easy and fast access to raw materials.
• Newberry International Produce Limited sources high-quality bananas from Latin America. The company achieves diversity through dependable and ethical sources.

Explore More Valuable Insights

Persistence Market Research, in its new report, offers an impartial analysis of the global banana puree market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

The study offers compelling insights on the global banana puree market based nature (organic, conventional), end use (food & beverages (infant food, dairy, and desserts, dressings & sauces, bakery & snacks, beverages, others), foodservice industry, retail/household), and distribution channel (business to business, business to consumer (hypermarket/supermarkets, convenience stores, specialty stores, online retailing, other retail formats)), across six regions.

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This release was published on openPR.