Growing Demand for Baby Nutrition Food Are Some of the Major Factors Burgeoning the Growth of Banana Puree Market

Banana Puree Market

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.

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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.