Market Overview
The fruit puree market is estimated to be valued at USD 14,549.8 million by 2023 and expected to grow at a CAGR of 4.4% during the forecast period. Bakery application accounted for the largest market share. Fruit purees are processed from fruits that are sourced naturally and are cultivated organically, which is surging the demand of fruit purees as a natural and healthy ingredient in the bakery industry.
Baby food is the second major application of fruit puree. The surging consumption of instant baby food is offering profitable opportunities to fruit puree suppliers owing to the rise in several working parents and increasing likeness towards the taste of tropical fruit purees among the children.
However, the only bottleneck in the growth trajectory of the global fruit puree market is the regional availability of fruits. The regional availability of certain fruits propels food processors to import fresh fruits from the origin country or import the processed fruit puree, leading to an increase in the commodity price.
Key Players
The prominent players in the global organic coconut water market are Nestlé S.A. (Switzerland), Boiron Frères SAS (France), The Hain Celestial Group, Inc (India), Symrise AG (Germany), SunOpta Inc. (Canada), Kerry Group PLC (Ireland), Superior Foods Companies (US), Sicodis Sica-SAS (France), Milne Fruit Products (US), and SVZ International B.V. (The Netherlands).
Market Segments
Global fruit puree market has been segmented on the basis of fruit type, category, application, and region. On the basis of type, the market has been divided into apple puree, banana puree, plum puree, strawberry puree, and others. The banana puree is gaining importance in the market owing to the increasing usage in the application such as baby food or added as an ingredient in baby food, beverages, and bakery & dairy products. Owing to the abundance of nutrients present in an apple, it is being consumed by both children and adults. Moreover, the demand for banana puree is also growing as demand for baby food is growing.
Based on application, the global fruit puree market is segmented into baby food, bakery, beverages, and others. The bakery segment is further segmented into cakes & pastries and other baked products. Among these segments, the bakery accounts for the largest market share owing to the surging the demand for fruit purees as a natural and healthy ingredient in the bakery industry. During the forecast period, the bakery segment is estimated to grow at a significant CAGR as to reach USD 3,353.5 million by the end of 2023. Baby is the second major segment. Other types of application include dairy & frozen desserts, convenience food, confectionary, dressings, sauces, and pet foods. Fruit purees are being used in the above-mentioned applications as they grant a delicious taste and a very special quality and freshness to the products, thus boosting the demand for fruit purees.
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Regional Analysis
Geographically, the global fruit puree market is segmented into Asia Pacific, North America, Europe, and the Rest of the World. As per MRFR analysis, Asia-Pacific dominated the market, accounted for the largest share of the market in 2017, and expected to grow at a CAGR of 4.1%. North America market, followed by Europe, accounted for the second largest share in the global fruit puree market, as of 2017. Asia-Pacific is estimated to reach USD 6,026.5 million by the end of 2023. Europe is a substantial region in the market, which accounts for 16.7% share of the market, as of 2016. Country wise, US is the leading market.
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